Core Points - Starting from October 26, Shandong Airport Management Group will implement the flight schedule for the 2025 winter-spring season, with an average of 880 flights per day [1] - A total of 47 airlines plan to operate at the group's airports, executing 296 routes connecting 123 domestic and international destinations [1] - Compared to the same period last year, there will be 45 new routes and 42 routes will be increased in frequency [1] Domestic Routes - To enhance east-west communication within the province, a new passenger route from Yantai to Jining will be launched, in addition to existing routes from Jinan to Yantai and Jinan to Weihai [1] - The backbone route network will be solidified, with an average of over 5 flights per day, and the number of "fast" and "quasi-fast" flights will increase to 28, including a new quasi-fast route from Jinan to Fuzhou [1] International Routes - Jinan Airport plans to launch a new passenger route to Macau on December 11, operating 3 flights per week [1] - The newly opened Jinan-Nanning-Vientiane route will continue to operate, and the group will leverage its geographical advantage near South Korea, with 10 direct flights to Seoul daily, an increase of 3 flights year-on-year [1]

Core Points - The article highlights the initiatives taken by the Capital Airport Security Company to enhance services for elderly travelers during the upcoming Chongyang Festival, emphasizing the importance of respecting and caring for the elderly [1] Group 1: Service Initiatives - The company has launched several service measures at Daxing Airport, including the establishment of "Vibrant Orange" youth volunteer service posts and the opening of a "Love Channel" to assist elderly travelers [1][2] - Volunteers provide one-on-one assistance to elderly travelers during security checks, addressing common issues such as mobility difficulties and unfamiliarity with the security process [2][3] - A "Convenience Service Treasure Box" has been added at the security service desk, offering items like reading glasses and first aid supplies to cater to the needs of elderly travelers [3] Group 2: Future Commitment - The company plans to continue optimizing services for special travelers and integrate the values of respecting and caring for the elderly into its daily operations, aiming to create a warm and compassionate security brand at the national gateway [5]

Core Points - Starting from October 26, Shandong Airport Management Group will implement the flight schedule for the winter season of 2025, with an average of 880 flights per day [1] - A total of 47 airlines plan to operate at the group's airports, executing 296 routes connecting 123 domestic and international destinations [1] - Compared to the same period last year, there will be 45 new routes and 42 routes will be increased in frequency [1] Route Expansion - Jinan Airport will open new routes to Vientiane, Macau, Hami, Hulunbuir, Xilin Gol, Hohhot, Yuncheng, Hengyang, and Yueyang [1] - Yantai Airport will open new routes to Huizhou, Ordos, and Haikou [1] - Weihai Airport will open a new route to Yangzhou, Linyi Airport to Urumqi and Beijing Capital Airport, and Dongying Airport to Quzhou [1] International Connectivity - Shandong Airport Management Group is leveraging its geographical advantage near South Korea, with Jinan, Yantai, and Weihai airports offering 10 direct flights to Seoul daily, an increase of 3 flights year-on-year [1]

Core Viewpoint - The recent safety inspection at Quanzhou Airport by the civil aviation regulatory authorities from Fujian and Jiangxi provinces emphasizes the importance of maintaining high safety standards in the aviation sector, particularly in the context of complex operational environments [4][5]. Group 1: Inspection Process - The joint inspection team utilized a regulatory checklist and adopted a strict, detailed, and practical approach to assess the airport's operational safety [4]. - Various methods were employed during the inspection, including discussions, reviewing system manuals, and on-site verification of facilities and equipment [4]. - Key areas of focus included flight area management, foreign object prevention, visual navigation aids, and control of bird and animal hazards [4]. Group 2: Post-Inspection Actions - Following the inspection, a briefing was held to communicate recent safety production policies from the Civil Aviation Administration and the East China Bureau [5]. - The inspection team outlined three key requirements for Quanzhou Airport: enhancing political awareness and risk consciousness, improving bird strike prevention capabilities, and closely monitoring key tasks and risks [5]. - The Fujian regulatory authority will enforce local oversight responsibilities and implement a follow-up mechanism to ensure that the airport addresses the identified issues effectively [5].

《中国民航报》、中国民航网 记者钱擘 通讯员刘桢 报道：2025-2026年冬春航季即将来临，无锡硕放 机场统筹协调，联合各驻场单位开展新航季安全保障工作，以"预防为先、协同联动"为核心，聚焦冬季 运行关键风险点制定针对性举措，全力保障机场运行安全、高效、顺畅。 针对冬春易出现的雨雪、寒潮等天气特点，机场提前谋划、周密部署，全面做好除冰雪各项准备工作； 已及时修订完善本场除冰雪保障预案，组织相关人员开展专项培训，确保流程清晰、责任到人；召集除 冰雪委员会各成员单位召开动员会，明确任务分工，并组织开展实战演练。在物资与设备保障方面，机 场做好除冰雪物资的清点与补充，足额储备除冰液等关键物资，并对吹雪车、摩擦系数测试车等专业设 备进行全面维护与调试，确保各类设备状态良好、随时可用。 同时，围绕鸟防、净空、跑道防入侵等关键领域，无锡硕放机场当前正深化"技防+人防"协同模式。在 鸟防方面，机场依托探驱一体化系统开展常态化监测，加密飞行区巡查频次，联合驻场部队驱鸟人员开 展太湖沿岸湿地水鸟专项调研，为后续制定针对性防范措施提供了科学依据。针对净空保护，机场对周 边施工项目、农田地膜铺设活动、节假日升（燃）放孔明灯、烟花 ...

Financial Data and Key Metrics Changes - Total passenger traffic across GAP's 14 airports increased by 2.5% year-over-year, reaching 15.8 million passengers in Q3 2025, despite a decline in international passenger traffic [5][4] - Total revenues increased by 17.4% compared to Q3 2024, driven by both aeronautical and non-aeronautical business performance [7] - EBITDA grew by 12.8%, reaching MXN 5.1 billion, with an EBITDA margin of 64.3% [9][10] - The cost of services increased by 14.1% year-over-year, primarily due to operational changes in managing jet bridges and airport buses [9] Business Line Data and Key Metrics Changes - Aeronautical revenue grew by 18.3%, reflecting the implementation of new maximum tariffs [7] - Non-aeronautical revenues increased by 15.6%, with significant contributions from food and beverages, retail, duty-free, ground transportation, and timeshares [8] - Revenue from business operated directly by GAP rose by 30.1%, mainly due to the consolidation of the cargo and bonded warehouse business [7] Market Data and Key Metrics Changes - International passenger traffic faced challenges due to immigration-related issues and a more restrictive perception under the current U.S. administration [4] - Domestic demand showed sustained recovery, supported by new routes and additional frequencies [5] Company Strategy and Development Direction - The company is focused on connectivity and diversifying its network, with plans to launch eight new international routes to Canada in Q4 2025 [5][6] - GAP aims to strengthen its position as a regional hub by connecting Los Cabos directly to Panama, expanding its network into Central America [6] - The company continues to optimize its commercial offerings and leverage passenger flow growth to enhance value creation across all airports [8] Management's Comments on Operating Environment and Future Outlook - Management remains cautiously optimistic despite macroeconomic uncertainty and exchange rate volatility, citing a resilient domestic market and disciplined financial management [11] - The company expects to maintain its leadership position in the region and generate long-term value for shareholders [11] Other Important Information - The company paid a dividend of MXN 8.42 per share in Q3 2025 and issued two new bond certifications totaling MXN 8.5 billion [10] - The process related to the Turks and Caicos tender is ongoing, with no resolution announced yet [12] Q&A Session Summary Question: Can you talk about the traffic dynamics currently experienced? - Management noted a decline in international traffic, particularly in VFR routes, but expressed optimism for recovery in the coming months as capacity increases [15][16] Question: On the commercial side, how far off are we from seeing top-line revenue growth stabilize? - Management indicated that double-digit growth in directly operated businesses is expected to continue, with new commercial areas contributing to revenue growth [18][19] Question: Can you clarify the expected level of costs for the coming quarters? - Management confirmed that the current level of costs is expected to persist due to increased facilities and headcount [24][25] Question: What is the expected effect of next year's World Cup on traffic figures? - Management anticipates a positive impact on traffic, particularly in Guadalajara, but noted that the exact effect will depend on the lottery of national teams [54][55] Question: Can you provide details on the commercial areas coming online in the next few years? - Management outlined plans for significant expansions in terminal buildings, which will increase commercial space by 55% by 2029 [56][58]

Financial Data and Key Metrics Changes - Total passenger traffic increased by 2.5% year-over-year, reaching 15.8 million passengers in Q3 2025 despite a decline in international traffic [4][3] - Total revenues grew by 17.4% compared to Q3 2024, driven by both aeronautical and non-aeronautical business performance [5][6] - EBITDA increased by 12.8%, reaching $5.1 billion pesos, with an EBITDA margin of 64.3% [8][9] Business Line Data and Key Metrics Changes - Aeronautical revenue rose by 18.3%, influenced by a new maximum tariff implementation [5] - Non-aeronautical revenues increased by 15.6%, with significant contributions from food and beverages, retail, duty-free, ground transportation, and timeshares [6][7] - Revenue from business operated directly by the company surged by 30.1%, primarily due to the consolidation of cargo and bonded warehouse operations [5] Market Data and Key Metrics Changes - International passenger traffic faced challenges due to immigration-related issues and a restrictive perception under the current U.S. administration [3] - Domestic demand showed sustained recovery, helping to offset the decline in international travel [4] Company Strategy and Development Direction - The company plans to launch eight new international routes to Canada in Q4 2025, enhancing connectivity and supporting demand during the winter season [4] - The focus remains on diversifying the network and optimizing commercial offerings to enhance long-term value creation [7][10] - The company is actively managing its capital structure to support long-term investment commitments and potential organic growth [9] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding future performance, citing macroeconomic uncertainty and exchange rate volatility as short-term challenges [10] - The company continues to benefit from a resilient domestic market and disciplined financial management, maintaining its leadership position in the region [10] Other Important Information - The company remains in a strong liquidity position with $11.7 billion in cash and cash equivalents as of September 30, 2025 [9] - The ongoing process related to the Turks and Caicos tender and potential acquisition of Motiva Airports is under analysis [11] Q&A Session Summary Question: Can you talk about the traffic dynamics currently experienced? - Management noted a decline in international traffic, particularly in VFR routes, but expressed optimism for recovery in the coming months as airlines increase capacity [13][15] Question: What is the expected level of costs and expenses for the coming quarters? - Management indicated that the current cost levels are expected to persist due to increased facilities and headcount, impacting EBITDA margins [21][23] Question: Can you elaborate on the Motiva Airports assets acquisition plans? - Management stated they are exploring options for the acquisition, considering both partnerships and independent bids, with financing likely to come from leverage [27][28] Question: What is the expected effect of next year's World Cup on traffic figures? - Management anticipates a positive impact on traffic, particularly in Guadalajara, but noted that the exact effects depend on the lottery of national teams [46][47] Question: Can you provide details on the commercial areas coming online in the next few years? - Management outlined plans for significant expansions in terminal buildings, which will increase commercial space and opportunities for revenue growth [48][49]

Core Viewpoint - The promotional event for the 2025 winter flight season at Jieyang Chaoshan Airport showcased the airport's flight plans and service products, highlighting the achievements and future prospects of civil aviation in the Chaoshan region [1][5]. Group 1: Event Overview - The event titled "Warm Winter Soaring, Chaoshan Rhythm Set Sail" was held on October 22 at the Chaoshan Historical and Cultural Expo Center, gathering representatives from various sectors including cultural, tourism, and aviation [1]. - The event featured a dynamic opening performance and included discussions on civil aviation development, resource sharing, and policy interpretation among multiple airlines and travel agencies [1]. Group 2: Flight Schedule and Growth - The 2025 winter flight season will officially commence on October 26, with a total of 2,191 scheduled flights, representing an 18.4% year-on-year increase, making it the second-highest growth in the country [5]. - New domestic routes will be launched or restored, including Lhasa, Wuxi, Mangshi, Chizhou, and Yulin, while international routes to Bangkok, Singapore, Kuala Lumpur, and Vientiane will continue to operate [5]. Group 3: Service Enhancements - The airport has introduced two new "air express" routes to Ningbo and Haikou, enhancing the convenience of high-frequency travel options for passengers [5]. - With an increase in overnight capacity to 31 aircraft, the distribution of flights throughout the day has become more balanced, providing travelers with greater flexibility in destination choices and travel times [5].

Group 1: Economic Growth and Consumer Trends - Shanghai's retail sales increased by 4.3% year-on-year in the first three quarters, with significant growth in July to September at 7.8%, 13%, and 9.2% respectively, contributing to a 2.6 percentage point increase in growth rate compared to the first half of the year [1] - The city's GDP grew by 5.5% year-on-year in the third quarter, outperforming the national average, driven by effective growth-stabilizing policies and a transition from traditional to modern economic drivers [1] - The "trade-in" subsidy policy significantly boosted retail sales in categories such as sports and entertainment, furniture, and home appliances, with increases of 27.7%, 22.1%, and 28.2% respectively [1] Group 2: Innovation in Consumption - Shanghai is recognized as the largest consumer city in China, with a strong demand-side resilience and rapid innovation in consumption driven by platforms like Xiaohongshu and Pinduoduo [2] - The "Shanghai International Animation Month" and the transformation of Rebirth Island into a "pain island" exemplify the innovative consumption landscape, supported by a cultural consumption boom [2] - The "content attracts users, commercial feedback to content" cycle is a core growth path for Xiaohongshu, further reinforced by the "Hujiao Policy" released in July [2] Group 3: Automotive and Tourism Sector Performance - SAIC Motor Corporation achieved a 20.5% year-on-year increase in cumulative sales from January to September, with September sales reaching 440,000 units, a 40.4% increase [3] - The tourism sector in Shanghai saw a significant increase in inbound visitors, with 6.366 million tourists in the first three quarters, a 37% year-on-year growth [3] Group 4: Airport and Travel Statistics - As of October 11, the number of inbound foreign travelers at Shanghai ports exceeded the total for the previous year, with over 50% entering through visa-free policies [4] - Shanghai Airport's passenger throughput surpassed 100 million in the first nine months, with a daily average of 406,000 passengers during the National Day and Mid-Autumn Festival holidays, marking a 9.3% year-on-year increase [4] Group 5: Future Economic Outlook - The economic outlook for Shanghai remains positive, with expectations of sustained growth contingent on maintaining a competitive edge in global technology and further activating domestic consumption potential [4]

高崎记忆捐赠现场（厦门机场供图） 活动现场还启动了"中华优秀传统文化进机场推广计划"，中医药文化、非遗文化、闽南文化等中华优秀 传统文化将在厦门机场具象化，转化为可体验、可互动、可传播的公共产品，机场由此打造兼具文化厚 度和待客温度的往来通道。 活动现场，厦门机场专属IP形象"翔燕"兄妹也正式与广大旅客见面。IP形象取自闽南常见"吉祥鸟"家 燕，未来IP形象将逐步融入航站楼引导服务、文创产品、线下活动等场景。 "高崎机场凝结着一代代民航人的初心，未来翔安机场将定位为'两岸交流门户机场'，进一步优化厦 金'半小时交通圈'，构建连接东南亚、通达欧美澳的国际航线网络，为厦门建设两岸融合发展示范区、 打造航空枢纽注入新动能"，厦门机场相关负责人表示。（编辑：贾昊天 校对：李海燕 审核：程凌） 《中国民航报》、中国民航网 记者钱擘 报道："各位旅客朋友，欢迎来到厦门高崎机场，让我们一起穿 越时光，回到1983年那架三叉戟客机起飞的时刻……"10月22日，随着如是闽南话播报声响起，厦门高 崎国际机场举行了通航42周年纪念日活动，市民、台胞、侨胞齐聚活动现场，捐赠回忆物件，共叙暖心 故事，并见证开启"中华优秀传统文化进机场 ...