11月，中国国航及所属子公司合并旅客周转量（按收入客公里计）同比上升。客运运力投入（按可用座位公里计）同比上升12.9%，旅客周转量同比上升22.0%。平均客座率79.3%，同比上升5.9个百分点。其中，国内航线同比上升5.6个百分点，国际航线同比上升8.9个百分点，地区航线同比上升6.1个百分点。Setting a historical record, the passenger transportation volume completed by Airlines in China has surpassed 0.7 billion.
Reports from the Civil Aviation Administration indicate that according to Industry monitoring data, as of December 15 this year, Airlines in China have completed a passenger transportation volume of over 0.7 billion, reaching 700.48 million passenger trips, with a daily average passenger transportation volume exceeding 2 million, a year-on-year increase of 18.1%, and a growth of 10.7% compared to 2019, setting a new historical high in the development of Civil Aviation in China.
Recently, Air China Limited, China Eastern Airlines Corporation, and China Southern Airlines have successively disclosed their operational data for November.
In November, Air China Limited and its subsidiaries experienced a year-on-year increase in combined passenger turnover (measured in revenue passenger kilometers). The passenger capacity input (measured in available seat kilometers) increased by 12.9% year-on-year, and passenger turnover increased by 22.0% year-on-year. The average seat load factor was 79.3%, an increase of 5.9 percentage points year-on-year. Among these, domestic routes increased by 5.6 percentage points year-on-year, international routes increased by 8.9 percentage points year-on-year, and regional routes increased by 6.1 percentage points year-on-year.
In November, China Eastern Airlines Corporation's passenger capacity input (measured in available seat kilometers) increased by 9.19% year-on-year, reaching 103.21% of the comparable period in 2019; passenger turnover (measured in revenue passenger kilometers) increased by 20.86% year-on-year, reaching 108.60% of the comparable period in 2019; the seat load factor was 84.33%, up 8.14 percentage points year-on-year and up 4.19 percentage points compared to the same period in 2019.
The passenger capacity input of China Southern Airlines and its subsidiaries (measured in available seat kilometers) increased by 7.18% year-on-year; passenger turnover (measured in revenue passenger kilometers) increased by 15.17% year-on-year; the seat load factor was 84.81%, an increase of 5.88 percentage points year-on-year.
In November, Air China Limited and its subsidiaries introduced 1 ARJ21-700 aircraft and 1 C919 aircraft. China Eastern Airlines Corporation introduced 2 aircraft, which included 1 A320 series aircraft and 1 C919 series aircraft, and did not withdraw any aircraft. China Southern Airlines and its subsidiaries introduced 3 aircraft and withdrew 4 aircraft.
According to the International Air Transport Association, the Global aviation industry is expected to achieve record passenger traffic in 2025. The International Air Transport Association stated that this expectation represents a 16% increase compared to the 2024 data. The industry's profit margin will be 3.6%, up from 3.3% in 2024.
GTJA believes that China's aviation has super normal long-term logic and that the trend of recovery in supply and demand is determined for 2025, potentially starting a super cycle of rising profit centers. Market expectations remain low, and there are options for falling oil prices. It is recommended to increase Shareholding in the aviation sector, with a preference for high-quality air networks.
Related companies in the aviation sector:
China Southern Airlines (01055), Air China Limited (00753), China Eastern Airlines Corporation (00670), CATHAY PAC AIR (00293), BEIJING AIRPORT (00694), TRAVELSKY TECH (00696), MEILAN AIRPORT (00357), and others.
