根据公布的交易条款，忠实航空将以每股4.10美元现金加上0.1557股忠实航空普通股的方式，换取每股 太阳城航空股票。该项交易总作价较太阳城航空在2026年1月9日(即上周最后一个交易日)的收盘价溢价 约19.8%。 据了解，Sun Country 成立于 1982 年，客户群以低收入和中等收入家庭为主，这些旅客对经济形势变化 较为敏感。这家总部位于明尼阿波利斯的廉价航空公司经营客运、货运及包机业务。 智通财经APP获悉，忠诚旅游(ALGT.US)将以现金加股票的方式收购Sun Country Airlines(SNCY.US)，两 家公司在上周日发布的联合声明中表示，交易总价值为 15 亿美元，已计入 Sun Country 的债务。 忠实航空将承担太阳城航空约4亿美元的净债务，使总交易价值达到15亿美元。合并完成后，忠实航空 现有股东将持有新实体约67%的股份，太阳城航空股东则持有余下约33%的权益。双方董事会已一致批 准该项协议。 此次合并的核心逻辑在于双方业务的高度互补性。合并后的新实体将运营逾 650 条航线，包括飞往墨西 哥、加拿大、加勒比地区及中美洲的 18 个国际目的地，并把忠诚旅游在中小市场 ...

证券代码：601111 股票简称：中国国航 公告编号：2026-001 中国国际航空股份有限公司关于出售所持国泰航空部分股票的公告 本公司及董事会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： ● 经中国国际航空股份有限公司（以下简称"本公司"或"公司"）第七届董事会第十一次会议批准，本公 司全资子公司Easerich Investments Inc.拟在香港证券交易市场委托配售代理通过大宗交易出售持有的国 泰航空有限公司（以下简称"国泰航空"）约1.61%股权（即108,080,000股）。本次交易价格确定为12.22 港元/股，预计总交易金额为港币13.21亿元。 ● 本次交易不构成关联交易，不构成重大资产重组。 ● 本次交易未达到股东会审议标准。 一、本次交易概述 （一）本次交易的基本情况 1.本次交易概况 公司及其全资子公司Easerich Investments Inc.于2026年1月5日与配售代理签署配售协议拟在香港证券交 易市场委托配售代理通过大宗交易方式出售持有的国泰航空约1.61%股权（即108,080, ...

中国国航在公告中称，2006年6月，本公司与国泰航空及太古股份有限公司、中信泰富有限公司等国泰航空主要股东达成重组安排，本公司于当年通过 全资子公司受让存量股份及认购新股方式成为国泰航空的战略股东，并于2009年及2020年分别通过受让存量股份及认购新股方式增持国泰航空股票。截至本 次交易前，本公司通过全资子公司合计持有国泰航空1,930,516,334股。本次交易标的股票来源于本公司取得的前述国泰航空股票。 （蔡淑敏/摄） 国泰航空股价和业绩双双上涨之际，中国国航决定减持。 1月6日，中国国航公告，公司及其全资子公司 Easerich Investments Inc.于2026年1月5日与配售代理签署配售协议拟在香港证券交易市场委托配售代理通 过大宗交易方式出售持有的国泰航空约1.61%股权(即108,080,000股)，交易价格为12.22港元/股，预计总交易金额为港币13.21亿元。经公司财务部门测算， 本次出售资产预计实现税前利润约人民币1.82亿元。 国泰航空创立于1946年，于1986年在香港联合交易所上市，是一家以香港为枢纽的国际航空公司，主要从事航空客运、货运、邮运及航空相关业务，现 已发行总 ...

截至2024年12月31日，国泰航空经审计的期末资产总额为港币1,712.44亿元，负债总额为港币1,187.37亿 元，净资产为港币525.07亿元，营业收入为港币1,043.71亿元，归属于国泰航空普通股股东净利润为港 币96.07亿元；截至2025年6月30日，国泰航空未经审计的期末资产总额为港币1,703.02亿元，负债总额 为港币1,186.41亿元，净资产为港币516.61亿元，营业收入为港币543.09亿元，归属于国泰航空普通股股 东净利润为港币36.51亿元。 本次交易完成后，公司对国泰航空的持股将继续维持在合理水平。公司仍为国泰航空的重要战略股东， 持续看好国泰航空发展前景，对国泰航空的支持不变。 格隆汇1月6日丨中国国航(601111.SH)公布，公司及其全资子公司Easerich InvestmentsInc.于2026年1月5 日与配售代理签署配售协议拟在香港证券交易市场委托配售代理通过大宗交易方式出售持有的国泰航空 约1.61%股权(即108,080,000股)，结合国泰航空近期股票价格并根据配售代理询价结果确定交易价格为 12.22港元/股，预计总交易金额为港币13.21亿元。本次 ...

格隆汇1月6日丨中国国航(601111.SH)公布，公司及其全资子公司Easerich InvestmentsInc.于2026年1月5 日与配售代理签署配售协议拟在香港证券交易市场委托配售代理通过大宗交易方式出售持有的国泰航空 约1.61%股权(即108,080,000股)，结合国泰航空近期股票价格并根据配售代理询价结果确定交易价格为 12.22港元/股，预计总交易金额为港币13.21亿元。本次交易预计将于不晚于配售协议签署后的3个交易 日内或Easerich InvestmentsInc.与配售代理书面同意的其他期限内完成。 据悉，国泰航空创立于1946年，于1986年在香港联合交易所上市，注册地为中国香港特别行政区金钟道 88号太古广场一座31楼，现已发行总股数为6,722,856,511股。国泰航空是一家以香港为枢纽的国际航空 公司，主要从事航空客运、货运、邮运及航空相关业务。 本次交易完成后，公司对国泰航空的持股将继续维持在合理水平。公司仍为国泰航空的重要战略股东， 持续看好国泰航空发展前景，对国泰航空的支持不变。 截至2024年12月31日，国泰航空经审计的期末资产总额为港币1,712.44亿元， ...

本次交易不构成关联交易，不构成重大资产重组。本次交易预计将于不晚于配售协议签署后的3个交易 日内或 EaserichInvestments Inc.与配售代理书面同意的其他期限内完成。 来源：观点地产网 观点网讯：1月6日，中国国航公告，公司全资子公司 Easerich Investments Inc.拟在香港证券交易市场委 托配售代理通过大宗交易出售持有的国泰航空有限公司（简称"国泰航空"）约1.61%股权（即 108,080,000股）。本次交易价格确定为12.22港元/股，预计总交易金额为港币13.21亿元。 国泰航空创立于1946年，于1986年在香港联合交易所上市，现已发行总股数为6,722,856,511股。国泰航 空是一家以香港为枢纽的国际航空公司，主要从事航空客运、货运、邮运及航空相关业务。 免责声明：本文内容与数据由观点根据公开信息整理，不构成投资建议，使用前请核实。 ...

Core Viewpoint - China National Airlines (601111.SH) reported an increase in passenger turnover and capacity for November 2025, indicating a positive trend in both domestic and international travel demand [1] Passenger Operations - The group's consolidated passenger turnover (measured in revenue passenger kilometers) increased by 10.1% year-on-year [1] - Passenger capacity (measured in available seat kilometers) rose by 4.9% year-on-year [1] - Domestic passenger capacity increased by 3.9%, with a corresponding turnover increase of 7.5% [1] - International passenger capacity saw an 8.1% increase, with turnover rising by 17.4% [1] - Regional passenger capacity decreased by 3.5%, while turnover increased by 3.0% [1] - The average passenger load factor reached 83.3%, up by 4.0 percentage points year-on-year [1] - Domestic routes saw a load factor increase of 2.9 percentage points, international routes increased by 6.4 percentage points, and regional routes increased by 4.9 percentage points [1] Cargo Operations - Cargo capacity (measured in available cargo ton kilometers) increased by 1.4% year-on-year [1] - Cargo and mail turnover (measured in revenue cargo ton kilometers) rose by 4.4% year-on-year [1] - The cargo load factor was 39.5%, up by 1.1 percentage points year-on-year [1]

Group 1 - The core point of the article is that Guangshen Railway held its 18th meeting of the 10th board of directors on December 4, 2025, to discuss the revision of the "Audit Committee Work Regulations" and other documents [1] - For the first half of 2025, Guangshen Railway's revenue composition was as follows: passenger transport accounted for 40.21%, entrusted transportation service income accounted for 29.17%, network clearing accounted for 18.78%, freight accounted for 6.03%, and other businesses accounted for 5.81% [1] - As of the time of reporting, Guangshen Railway's market capitalization was 21.7 billion yuan [1]

Core Insights - The article highlights the stable performance of China's transportation sector, driven by significant infrastructure investments and steady growth in key metrics [1] Investment and Infrastructure - In the first ten months, transportation fixed asset investment reached 2.95 trillion yuan, with road and waterway investments at 2.01 trillion yuan and 176.1 billion yuan respectively [1] - The overall investment scale remains high due to major transportation projects [1] Freight Volume and Port Activity - The operating freight volume increased to 48.29 billion tons, marking a year-on-year growth of 3.5% [1] - Road freight volume accounted for 35.62 billion tons, up 3.6%, while waterway freight volume reached 8.29 billion tons, also growing by 3.5% [1] - Port cargo throughput grew to 15.13 billion tons, with a year-on-year increase of 4.3%, and container throughput reached 29 million TEUs, up 6.4% [1] Personnel Mobility - Cross-regional personnel flow amounted to 56.88 billion person-times, reflecting a year-on-year growth of 3.6% [1] - In October alone, the cross-regional personnel flow was 6.28 billion person-times, showing a significant increase of 7.7% year-on-year [1]

Financial Data and Key Metrics Changes - Total revenues increased by 16.6%, significantly outpacing passenger traffic growth of 9.3% [12] - Adjusted EBITDA rose 34% to $194 million, marking a new record for the company [5][15] - Adjusted EBITDA margin expanded by 5.2 percentage points to 41.2% [16] Business Line Data and Key Metrics Changes - Aeronautical revenues increased by 15.2%, driven primarily by Argentina, with a notable 22.1% increase in aeronautical revenues from Argentina [12][13] - Commercial revenues grew by 18%, supported by strong performance in cargo, VIP lounges, and other passenger-related services [12][13] - Cargo revenues were up 20% year-over-year, with Argentina seeing a 23% increase [10] Market Data and Key Metrics Changes - Passenger traffic across the airport network increased by over 9%, with Argentina showing a 13% increase in total passenger traffic [4][6] - Domestic traffic in Argentina grew nearly 11%, while international traffic increased by 16% [6] - Brazil and Italy also reported strong traffic growth, with Brazil's total traffic up over 8% [8][9] Company Strategy and Development Direction - The company is advancing its investment plans, with CAPEX program approvals underway in Armenia and Italy [5][20] - Strategic initiatives include enhancing passenger experience and expanding commercial offerings, such as new rental hubs and duty-free stores [19][20] - The company is pursuing inorganic expansion opportunities, including a recent award agreement for Baghdad Airport [20] Management's Comments on Operating Environment and Future Outlook - Management anticipates continued positive traffic trends into the fourth quarter, albeit with a more moderate pace of domestic traffic growth in Argentina [20] - The company remains focused on maintaining a competitive cost structure while enhancing cargo capabilities [11] - Overall, management expressed confidence in the resilience of the business model and the quality of assets [21] Other Important Information - The company ended the quarter with a total liquidity position of $661 million, up 26% from the previous year [17] - Total debt at quarter-end was $1.1 billion, with net debt decreasing to $579 million [17] Q&A Session Summary Question: Update on the rebalance in Argentina and commercial revenues outlook - Management confirmed progress in discussions regarding the rebalance of the concession agreement but could not provide a specific timetable [23][24] - Commercial revenues were reported to be up 8% versus last year, with expectations of continued positive trends [24] Question: Investment opportunities in Armenia and Italy - In Italy, the environmental assessment approval has been obtained, with the next steps expected to commence towards the end of the first quarter [27][28] - Discussions regarding investment opportunities in Armenia are ongoing, with no specific timeline provided [28] Question: Size of the opportunity at Baghdad Airport - Management indicated a constructive view on potential traffic growth in the region, with further details to be provided once the concession agreement is finalized [33][34]