Core Viewpoint - Cathay Pacific Airways has shown a strong start in 2026, with significant increases in passenger and cargo volumes compared to the previous year [1] Group 1: Passenger Traffic - In January 2026, Cathay Pacific and Hong Kong Express collectively carried over 3.3 million passengers, an 11% increase compared to January 2025 [1] - Cathay Pacific achieved a record single-day passenger count of over 100,000 on February 14, 2026, with a total of approximately 128,000 passengers including Hong Kong Express [1] - The passenger volume for Cathay Pacific in January 2026 increased by 11% year-on-year, with available seat kilometers rising by 14% [1] Group 2: Cargo Operations - Cathay Pacific's cargo volume in January 2026 exceeded 130,000 tons, reflecting a 5% year-on-year growth [1] - The available cargo ton kilometers increased by 3% in January 2026 compared to the same month in 2025 [1]

Core Viewpoint - HNA Group announced the introduction of new aircraft and reported significant growth in passenger and cargo metrics for November 2025 [1] Group 1: Aircraft Fleet Expansion - The company will introduce 1 A320NEO and 3 B737-8MAX aircraft by November 2025, bringing the total fleet to 362 aircraft [1] Group 2: Passenger Capacity and Revenue Growth - Passenger capacity (measured in available seat kilometers) increased by 6.87% year-on-year, with international capacity rising by 22.20% [1] - Revenue passenger kilometers grew by 8.14% year-on-year, with international revenue passenger kilometers increasing by 24.36% [1] - Passenger traffic volume rose by 5.08% year-on-year, with international passenger traffic increasing by 16.09% [1] Group 3: Cargo and Mail Performance - Cargo and mail revenue ton-kilometers increased by 17.80% year-on-year, with international cargo and mail revenue ton-kilometers rising by 23.75% [1] - Cargo and mail volume grew by 14.32% year-on-year, with international cargo and mail volume increasing by 21.20% [1] - Cargo and mail load factor improved by 3.36 percentage points [1] Group 4: New Route Launch - The company will launch a new route from Chongqing to Brussels starting November 22, 2025, with three flights per week [1]

Core Insights - Cathay Group reported a robust performance in passenger and cargo operations for October, with over 3.2 million passengers carried, representing a 21% month-on-month increase [1] - Cathay Pacific's passenger volume increased by 29% year-on-year in October, while available seat kilometers rose by 26% [1] - Cargo operations saw a volume exceeding 150,000 tons in October, reflecting a 12% month-on-month growth [1] - For the first ten months of the year, passenger and cargo volumes increased by 27% and 10% respectively compared to the same period last year [1] - The demand for passenger travel was notably strong in October, driven by the National Day and Mid-Autumn Festival holidays, with significant growth in leisure travel from mainland China to Hong Kong and globally [1] - Looking ahead, strong bookings for the Christmas travel season are anticipated, particularly from inbound travelers visiting from North America, the UK, and other European countries [1] - Cathay Group is expanding its global route network, planning to operate approximately 330 round-trip flights to mainland China, nearly 100 flights to Oceania, and over 430 flights to Southeast Asia during the winter travel peak [1]

Core Viewpoint - Cathay Pacific Airways (00293.HK) announced a significant increase in passenger and cargo metrics for 2025 compared to 2024, indicating strong growth in operational capacity and demand [1] Passenger Metrics - The passenger load factor for September 2025 is expected to increase by 21% compared to September 2024 [1] - Available seat kilometers (ASK) are projected to rise by 20% year-on-year [1] - For the first nine months of 2025, passenger load is anticipated to grow by 27% compared to the same period in 2024 [1] Cargo Metrics - Cargo volume in September 2025 is expected to increase by 1% compared to September 2024 [1] - Available cargo ton kilometers (ACTK) are projected to increase by 4% year-on-year [1] - For the first nine months of 2025, cargo volume is expected to rise by 10% compared to the same period last year [1]

Core Insights - China Eastern Airlines (600115.SH) announced a 6.76% year-on-year increase in passenger capacity input (measured in available seat kilometers) for August 2025 [1] - The passenger turnover (measured in revenue passenger kilometers) increased by 8.72% year-on-year, with a seat load factor of 88.34%, up by 1.59 percentage points [1] - The cargo and mail turnover (measured in cargo mail ton kilometers) saw a significant increase of 16.39% year-on-year for August 2025 [1] Domestic Market Developments - New domestic routes launched include Ordos-Yangzhou, Hefei-Lvliang, Wenzhou-Beihai, and Wuhan-Tangshan [1] - Resumed flights include Ningbo-Nanchang and Beijing Daxing-Yueyang, with increased frequency on routes such as Shanghai Hongqiao-Xining, Shanghai Hongqiao-Changsha, Shanghai Pudong-Changsha, Shanghai Pudong-Yibin, and Beijing Daxing-Ulanhot [1] International Market Developments - Resumed international flights include Nanchang-Singapore, with increased frequency on the Guangzhou-Bangkok route [1]

Core Viewpoint - China Eastern Airlines (600115.SH) reported an increase in passenger capacity and turnover for August 2025, indicating growth in both domestic and international markets [1] Group 1: Capacity and Performance Metrics - The passenger capacity input (measured in available seat kilometers) for August 2025 increased by 6.76% year-on-year [1] - The passenger turnover (measured in revenue passenger kilometers) for August 2025 rose by 8.72% year-on-year [1] - The passenger load factor reached 88.34%, an increase of 1.59 percentage points year-on-year [1] Group 2: Cargo Performance - The cargo and mail turnover (measured in cargo mail ton kilometers) for August 2025 increased by 16.39% year-on-year [1] Group 3: Route Developments - In the domestic market, new routes were launched including Ordos-Yangzhou, Hefei-Lvliang, Wenzhou-Beihai, and Wuhan-Tangshan, while routes such as Ningbo-Nanchang and Beijing Daxing-Yueyang were resumed [1] - The frequency of routes from Shanghai Hongqiao to Xining, Changsha, and from Shanghai Pudong to Changsha, Yibin, as well as Beijing Daxing to Ulanhot were increased [1] - In the international market, the Nanchang-Singapore route was resumed and the Guangzhou-Bangkok route frequency was increased [1]

Core Insights - The company reported a year-on-year increase in passenger volume of 9.3% in July [1] - The mail and cargo volume also saw a year-on-year growth of 10.5% [1] Company Performance - The increase in passenger volume indicates a positive trend in demand for air travel [1] - The growth in mail and cargo volume suggests an expanding logistics and freight operation [1]