转自：北京日报客户端 关于12月1日IJ005航班的情况声明 对于搭乘该航班的旅客，本公司已在抵达成田机场后向每位旅客支付了补偿金。同时，我们已尽最大努 力为旅客安排后续事宜，此航班也已经于12月2日10点（日本时间）从成田重新起飞。 春秋航空日本株式会社 2025年12月02日 来源：春秋航空日本 尊敬的旅客： 12月1日由成田飞往上海浦东的IJ005航班，因发生旅客在机内妨碍航班安全运行的非法行为，导致无法 维持机内秩序并继续安全飞行。经综合判断，航班决定返回成田机场。 ...

Core Points - On December 1, Spring Japan's IJ005 flight from Narita to Shanghai Pudong had to return to Narita due to illegal behavior by a passenger that disrupted flight safety [1][4] - The company compensated each passenger upon arrival at Narita and made efforts to arrange subsequent travel for them [1][4] - The flight successfully took off again from Narita at 10 AM Japan time on December 2 [1][4]

Core Insights - The aviation and airport sector experienced a decline of 0.34% on December 2, with Huaxia Airlines leading the drop [1] - The Shanghai Composite Index closed at 3897.71, down 0.42%, while the Shenzhen Component Index closed at 13056.7, down 0.68% [1] Stock Performance - Xiamen Airport (600897) closed at 16.34, up 1.18% with a trading volume of 72,500 shares and a turnover of 119 million yuan [1] - Baiyun Airport (600004) closed at 9.75, up 0.93% with a trading volume of 176,000 shares and a turnover of 171 million yuan [1] - Shenzhen Airport (000089) closed at 6.99, up 0.72% with a trading volume of 108,500 shares and a turnover of 7.56 million yuan [1] - China Eastern Airlines (600115) remained unchanged at 5.12 with a trading volume of 674,100 shares and a turnover of 345 million yuan [1] - Huaxia Airlines (002928) closed at 9.93, down 2.36% with a trading volume of 206,800 shares and a turnover of 207 million yuan [2] Capital Flow - The aviation and airport sector saw a net outflow of 82.29 million yuan from institutional investors and 44.87 million yuan from retail investors, while individual investors had a net inflow of 127 million yuan [2] - Notable capital flows included: - Southern Airlines (600029) had a net inflow of 15.42 million yuan from institutional investors [3] - Spring Airlines (601021) saw a net inflow of 9.77 million yuan from institutional investors [3] - China Eastern Airlines (600115) experienced a net outflow of 5.52 million yuan from institutional investors [3]

Core Viewpoint - The issue of "seat locking" and paid seat selection services by airlines has sparked widespread discussion among consumers, with many reporting that desirable seats in economy class are often locked and require additional fees to select [1] Group 1: Investigation Results - The Jiangsu Provincial Consumer Rights Protection Committee conducted a survey of 10 domestic airlines, including China Southern Airlines, Air China, Hainan Airlines, Xiamen Airlines, Shenzhen Airlines, Shandong Airlines, Sichuan Airlines, Eastern Airlines, Spring Airlines, and Juneyao Airlines [1] - The survey revealed that all 10 airlines engage in seat locking practices, with Xiamen Airlines having a seat locking rate as high as 42.5%, while most airlines reported seat locking rates exceeding 30%, and some even surpassing 50% [1] - The Jiangsu Provincial Consumer Rights Protection Committee has issued clear rectification requirements to the 10 airlines regarding the seat locking issue, demanding written reports on corrective actions within 15 working days [1]

Core Viewpoint - The recent practice of airlines locking seats and charging for seat selection has sparked widespread consumer dissatisfaction, with many feeling that their rights to choose seats are being unfairly restricted [1][19]. Group 1: Consumer Feedback - Many consumers, like Ms. Zhang, have experienced locked seats and expressed frustration over the additional costs required to select preferred seats, which they believe should be included with the purchase of an economy class ticket [3][19]. - The investigation revealed that consumers are often required to use points or pay extra fees to unlock desirable seats, which they feel is an unfair practice [11][13]. Group 2: Investigation Findings - The Jiangsu Provincial Consumer Protection Committee conducted an investigation into 10 domestic airlines, finding that all had locked seats in economy class, with the locking rate ranging from 19.9% to 62.1%, averaging 38.7% [4][5]. - The investigation highlighted that the locked seats are primarily located in the front rows and preferred window or aisle positions, limiting consumer choices to less desirable seats [9][11]. Group 3: Airline Justifications - Airlines have provided various justifications for locking seats, such as reserving them for special passengers or maintaining flight balance, but these reasons have been contradicted by the investigation results showing high locking rates [15][16]. - The lack of a unified standard for seat locking across airlines has led to significant discrepancies in how and why seats are locked [16]. Group 4: Legal and Regulatory Concerns - The practice of locking seats has been deemed to infringe upon multiple consumer rights, including the right to know, the right to choose, and the right to fair trade [19][22]. - Experts have pointed out that airlines' failure to clearly communicate seat selection policies and locking criteria violates consumer protection laws [20][22]. Group 5: Regulatory Actions - The Jiangsu Provincial Consumer Protection Committee has called for the 10 airlines to rectify their practices, specifically addressing the excessive locking of seats and the imposition of fees for seat selection [23][24]. - Airlines are required to ensure transparency in their policies, provide equal selection opportunities for all passengers, and respect consumer rights [27][29].

证券代码：601021 证券简称：春秋航空 公告编号：2025-067 春秋航空股份有限公司 关于股份回购进展的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： | 回购方案首次披露日 | 2025/8/29 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2025 年 月 8 月 | 8 | 27 | 日~2026 | 年 | 26 | 日 | | 预计回购金额 | 30,000万元~50,000万元 | | | | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | | | | | | | □用于转换公司可转债 | | | | | | | | | □为维护公司价值及股东权益 | | | | | | | | 累计已回购股数 | 744,550股 | | | | | | | | 累计已回购股数占总股本比例 | 0.0761% | | | | | | | | 累计已回购 ...

Group 1 - The company, Spring Airlines (601021.SH), announced a share buyback of 744,550 shares, representing 0.0761% of its total share capital, to be completed by November 28, 2025 [1] - The maximum buyback price is set at RMB 55.99 per share, while the minimum price is RMB 53.99 per share [1] - The total amount of funds allocated for the buyback is RMB 40.7558 million, excluding transaction commissions and transfer fees [1]

春秋航空公告称，公司于2025年8月27日启动股份回购，回购期限至2026年8月26日，预计回购3亿元-5 亿元股份用于员工持股计划。因2025年半年度权益分派，回购价格上限由不超65元/股调整为不超64.57 元/股。截至11月28日，公司累计回购744,550股，占总股本0.0761%，回购价格53.99元/股-55.99元/股， 使用资金4075.58万元。 ...

Core Viewpoint - The case highlights the issue of responsibility and compensation in the airline industry when flight delays occur due to uncontrollable factors, raising questions about consumer rights and airline obligations [1][10]. Group 1: Incident Overview - A consumer, Mr. Wang, faced a flight delay on Eastern Airlines (MU858) due to weather conditions, which caused him to miss a connecting flight with Spring Airlines [3][4]. - Mr. Wang was informed that he would have to bear the cancellation fee for the second leg of his journey because Eastern Airlines and Spring Airlines do not have an agreement [4][5]. Group 2: Airline Responses and Regulations - Eastern Airlines stated that they could only cover the refund fees for their own flight and not for the subsequent flight operated by Spring Airlines, as the delay was due to uncontrollable weather conditions [1][10]. - According to legal experts, airlines are only responsible for their own segments and must assist passengers in communicating with other airlines if there is a connection involved [8][10]. Group 3: Consumer Experience and Industry Implications - Mr. Wang's experience is not unique, as many travelers face similar issues with flight delays and cancellations, leading to unexpected financial losses and disrupted travel plans [6]. - The third-party booking platform eventually covered Mr. Wang's cancellation fee, indicating a potential area for improvement in customer service and communication within the airline industry [6][10].

Investment Rating - The transportation industry is rated as "Outperform" [2] Core Insights - The report highlights an upward trend in crude oil freight rates, with the China Import Crude Oil Index (CTFI) reaching 2520.07 points, an increase of 8.4% from November 20 [3][13] - The postal industry revenue surpassed the telecommunications industry for the first time in history, reaching 1.47 trillion yuan, compared to 1.467 trillion yuan for telecommunications [3][24] - The civil aviation sector showed growth in both passenger and cargo transport volumes in October, with international routes performing particularly well [3][17] Summary by Sections Industry Hot Events - Crude oil freight rates are rising, with the Middle East route seeing a 10.76% increase in rates [13] - Qifly Aviation signed a procurement agreement for 105 eVTOL aircraft with three companies in the Guangdong-Hong Kong-Macao Greater Bay Area, focusing on low-altitude logistics [15][16] - The postal industry revenue for January to October 2025 reached 1.47 trillion yuan, marking a significant milestone [24][25] High-Frequency Data Tracking - The Baltic Air Freight Price Index decreased month-on-month but increased year-on-year [26] - Domestic freight flights in October 2025 increased by 0.32% year-on-year, while international flights rose by 11.12% [32] - The express delivery business volume in October 2025 increased by 7.90% year-on-year, with total revenue reaching 131.67 billion yuan [50] Investment Recommendations - Focus on the equipment and manufacturing export chain, recommending companies like COSCO Shipping and China Merchants Energy [5] - Attention to low-altitude economy investment opportunities, particularly in companies like CITIC Offshore Helicopter [5] - Consider investment opportunities in the express delivery sector, recommending SF Express and Jitu Express [5]