Core Insights - Cathay Pacific's passenger and cargo operations showed steady performance in October 2025, with over 3.2 million passengers carried, a month-on-month increase of 21% [1] - Cargo volume exceeded 150,000 tons, reflecting a month-on-month growth of 12% [1] - The airline is expanding its global route network, launching new services to Changsha and Adelaide, and increasing flight frequencies to various regions during the winter travel peak [1] Passenger Operations - In October 2025, Cathay Pacific's passenger volume increased by 29% compared to the same month in 2024, with available seat kilometers rising by 26% year-on-year [1] - The passenger load factor reached 86%, the highest for the month in recent years, driven by strong demand during the National Day and Mid-Autumn Festival holidays [2] - Forward bookings for the Christmas travel season remain robust, with expectations of increased inbound travelers from North America, the UK, and other European regions [2] Cargo Operations - Cathay Pacific's cargo volume in October 2025 increased by 6% year-on-year, with available cargo ton kilometers up by 8% [2] - The cargo business continues to show strong momentum, particularly in Southeast Asia and Oceania, driven by fresh produce shipments to Hong Kong and South American salmon exports to mainland China [2] - The company anticipates sustained strong demand in the remaining peak cargo season, especially on major cargo routes [3] Hong Kong Express - Hong Kong Express carried over 680,000 passengers in October 2025, a 32% increase compared to the same month in 2024, with available seat kilometers rising by 34% [3] - The airline's passenger load factor remained nearly in line with the previous year, supported by strong demand during the National Day holiday [3] - Future flight bookings indicate a continuation of this positive trend, with a focus on monitoring travel demand to Japan and enhancing overall network demand [3]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對 其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分 內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 CATHAY PACIFIC AIRWAYS LIMITED 國泰航空有限公司 (於香港註冊成立的有限公司) (股份代號：293) 二零二五年十月份客、貨運量數據 附上的新聞稿載列國泰航空有限公司（「公司」，連同其附屬公司，統稱「國泰集 團」或「集團」）的二零二五年十月份客、貨運量數據。新聞稿載列的資料可能為 股價敏感資料。因此，本公告附上新聞稿乃按《證券及期貨條例》第 XIVA 部發 出。新聞稿載列的資料乃在內部管理記錄的基礎上編制，未經外聘核數師審核或審 閱。 本公告乃公司根據《證券及期貨條例》第 XIVA 部發出。 本公告載列的資料乃在內部管理記錄的基礎上編制，未經外聘核數師審核或審閱。 投資者在買賣公司股票時務必審慎行事。 於本公告所載日期，公司的在任董事如下： 常務董事： 賀以禮（主席）、林紹波、劉凱詩、麥皓雲、沈碧嘉； 非常務董事： 馬崇賢（副主席）、白德利、麥廣能、孫玉權、施銘倫、 鄧健榮 ...

Core Viewpoint - Cathay Pacific is closely monitoring the developments in Sino-Japanese tourism and understands that customers may need to adjust their travel plans based on different circumstances [1] Group 1 - The company aims to provide support and flexible handling for customers who have booked flights to Japan, offering options to adjust their itineraries [1] - Several mainland Chinese airlines have announced free refunds and ticket changes for customers with tickets to Japan [1]

此前，国泰航空宣布，将与卡塔尔航空签署回购协议，回购卡塔尔航空持有的全部国泰股份，约占公司 已发行股份总数的9.57%，作价达到69.69亿元。据悉，卡塔尔航空于2017年底入股国泰航空。 香港联交所最新资料显示，11月19日，国泰航空(00293)股东将股票存入香港上海汇丰银行，存仓市值 42.12亿港元，占比5.27%。 ...

Core Viewpoint - Cathay Pacific Airways is engaging in a share buyback agreement with Qatar Airways, which involves repurchasing all shares held by Qatar Airways, representing approximately 9.57% of the company's total issued shares for a total consideration of HKD 6.969 billion [1] Group 1 - On November 19, Cathay Pacific's shareholders deposited shares worth HKD 4.212 billion into HSBC Hong Kong, accounting for 5.27% of the total shares [1] - Qatar Airways initially acquired shares in Cathay Pacific at the end of 2017 [1]

Group 1 - Cathay Pacific is offering free cancellation and modification services for travelers booking flights to Japan due to travel warnings issued by the Chinese Ministry of Foreign Affairs and the Hong Kong government [1] - Following the travel warnings, there has been a significant drop in flight bookings to Japan, with a reported 65% decrease in bookings for Chinese routes at Tokyo Narita Airport on November 15 [2] - The number of planned travelers to Japan decreased from approximately 155 million on November 15 to 106 million by November 17, marking a 32% decline [2] Group 2 - The passenger load factor for flights from mainland China to Japan has seen a notable decline, with an expected drop of 12.3 percentage points on November 18 compared to the previous week [3] - The flight cancellation rate reached 13.4% on November 18, the highest in the past five days, indicating a growing trend of cancellations [3] - Many travel agencies have begun to withdraw promotional materials for Japan travel, and a wave of cancellations is anticipated as travelers seek alternative destinations [2]

孙悦怡表示，拥有近八十年发展历程的国泰航空，始终以行业可持续发展的先行者与推动者为己任，是 亚洲区域内首批确立碳中和时间表的航空公司。国泰将致力于在21世纪中叶实现净零碳排放，并将SAF 列为达成这一目标的关键抓手。目前，国泰已在香港、洛杉矶、伦敦、新加坡等全球多个航点推行SAF 加注，同时积极携手中石化、中航油、空客等上下游合作伙伴和中国民航大学等高校科研伙伴，从产学 研用的全方位推进国产SAF创新提速与应用落地，为推动全球SAF生态圈构建与航空业可持续发展贡献 国泰力量。 据悉，目前航空业碳排放量占据全球碳排放总量的2%-3%。随着其他行业加速向低碳转型，航空业碳排 放量所占比例预计将显著上升。航空业减碳是实现双碳目标的关键一环，其中可持续航空燃料（SAF） 对航空业减碳来讲至关重要，是核心路径之一。（编辑：张彤 校对：张薇 审核：韩磊） 《中国民航报》、中国民航网 记者郭瑛 报道：在近日举办的《点燃SAF市场：中国可持续航空燃料规 模化发展政策路径》报告发布会上，作为此次研究报告的航司业界代表、SAF的使用方代表，国泰航空 中国内地公共事务及品牌营销总经理孙悦怡表示，航空业在减少温室气体排放、实现低碳发 ...

Group 1: Uniqlo's Market Strategy - Uniqlo's China market director emphasizes the importance of comfort alongside fashion in consumer preferences [1] - The brand is expanding its product categories and has established a presence in over 200 cities in China [1] - Uniqlo is adapting its localized business strategies based on consumer feedback, rather than focusing on specific regions [1] Group 2: Cathay Pacific's Cargo Demand - Cathay Pacific anticipates strong demand in the fourth quarter, which is traditionally a peak season for air cargo [3] - The airline plans to adjust its network to focus on high-demand routes in Southeast Asia and China [3] - The company aims to maintain a competitive edge through nine specialized cargo solutions [3] Group 3: Michelin's Investment Focus - Michelin's future investments in China will focus on capacity upgrades, localized innovation, and diversified business expansion [4] - The company has been operating in China for 36 years and is committed to aligning with local market demands and carbon neutrality goals [4] - The expansion of the Shanghai factory and sustainable tire development reflect foreign investment confidence in China's high-quality growth [4] Group 4: LEGO's Product Launch - LEGO showcased five globally launched new products at the China International Import Expo, targeting various age groups [5] - The company has been investing in brand building, retail innovation, and sustainable development since its first participation in 2018 [5] - The expo serves as a platform for LEGO to connect with Chinese families and enhance its market presence [5] Group 5: Chow Tai Fook's Retail Strategy - Chow Tai Fook has reduced its retail network by 611 stores in six months, with a significant impact in the mainland market [6][7] - The closure primarily involves underperforming franchise stores, reflecting a strategic optimization of the channel structure [7] - This move aims to improve overall efficiency and prepare for a focus on high-quality locations and enhanced store performance [7]

Group 1 - UBS reports that Cathay Pacific (00293) plans to repurchase all shares held by Qatar Airways, pending approval from at least 75% of independent shareholders, the Securities and Futures Commission, and a waiver for mandatory general offer [1] - Qatar Airways currently holds 9.6% of Cathay Pacific's issued shares, with a repurchase price of HKD 10.8 per share, representing a discount of approximately 4% from the closing price on November 5 [1] - Assuming the repurchased shares are canceled, earnings per share, dividends per share, and book value per share are expected to increase by about 11%, effectively enhancing shareholder returns [1] Group 2 - Based on UBS's 2025 net profit forecast and a 50% payout ratio assumption, dividends per share are projected to rise from HKD 0.66 to HKD 0.73, resulting in a dividend yield of 6.5% [1] - The off-market share repurchase will allow Qatar Airways to exit in an orderly manner, mitigating market volatility [1] - UBS anticipates a positive market reaction to the announcement of the off-market share repurchase [1]

Core Viewpoint - UBS reports that Cathay Pacific (00293) plans to repurchase all shares held by Qatar Airways, pending approval from at least 75% of independent shareholders, the Securities and Futures Commission, and a waiver for mandatory general offer [1] Group 1: Share Repurchase Details - Qatar Airways currently holds 9.6% of Cathay Pacific's issued shares, with a repurchase price set at HKD 10.8 per share, representing a discount of approximately 4% compared to the closing price on November 5 [1] - The repurchase is expected to enhance earnings per share, dividends per share, and book value per share by approximately 11% if the repurchased shares are canceled, effectively improving shareholder returns [1] Group 2: Financial Projections - Based on UBS's net profit forecast for 2025 and an assumed 50% payout ratio, the dividend per share is projected to increase from HKD 0.66 to HKD 0.73, resulting in a dividend yield of 6.5% [1] Group 3: Market Reaction - UBS anticipates a positive market reaction to the announcement of the off-market share repurchase, which will also allow Qatar Airways to exit in an orderly manner, mitigating market volatility [1]