申万宏源指出，航空暑运旺季结束，出行需求仍具韧性，目前航空板块供需基本面正处在向好阶段，国内需求稳定增长，国际需求持续恢复，长期供需差确定性较高。国泰君安认为，新航季国际航班计划同比增长5%，环比2024夏航季基本持平。与市场认为的新航季国际客班恢复停滞不同，国内航司通过市场份额提升继续国际增班。Aviation/airlines industry stocks rose in early trading. As of the time of writing, Air China Limited (00753) rose by 3.17% to 4.23 Hong Kong dollars; China Southern Airlines (01055) rose by 4.04% to 3.35 Hong Kong dollars; Capital Airport (00694) rose by 1.06% to 2.87 Hong Kong dollars; China Eastern Airlines (00670) rose by 2.76% to 2.23 Hong Kong dollars.
As reported by the Wise Finance app, aviation/airlines industry stocks rose in early trading. As of the time of writing, Air China Limited (00753) rose by 3.17% to 4.23 Hong Kong dollars; China Southern Airlines (01055) rose by 4.04% to 3.35 Hong Kong dollars; Capital Airport (00694) rose by 1.06% to 2.87 Hong Kong dollars; China Eastern Airlines (00670) rose by 2.76% to 2.23 Hong Kong dollars.
On the news front, the Canadian transportation department announced on its website on October 28th that, on October 24th, under the instruction of the Minister of Transport of Canada by the Minister of Foreign Affairs, the restrictions on 'a total of no more than six round-trip scheduled passenger flights per week to Canada by airlines from the Mainland China' and 'the ban on direct flights from Beijing to Canada' issued on February 3, 2022 were revoked. Starting from October 25, 2024, the restrictions on Air China Limited, Capital Airlines, China Eastern Airlines, China South Air, Hainan Airlines, Sichuan Airlines, Xiamen Airlines, etc., have been lifted.
SHWY pointed out that as the peak summer season for aviation ends, travel demand still shows resilience. Currently, the aviation/airlines industry's supply and demand fundamentals are improving domestically, with stable domestic demand growth and ongoing recovery in international demand. The long-term supply and demand gap has a relatively high certainty. GTJA believes that the international flight schedule for the new aviation season will increase by 5% year-on-year, remaining relatively flat compared to the 2024 summer season. Unlike the market's view that the recovery of international flights in the new aviation season is stalling, domestic airlines are increasing international flights by improving market share.
