The Zhitong Finance App learned that aviation stocks fell collectively. As of press release, Air China (00753) fell 3.96% to HK$3.88; China Southern Airlines (01055) fell 3.03% to HK$2.88; Capital Airport (00694) fell 2.81% to HK$2.42; and Eastern Airlines (00670) fell 1.95% to HK$2.01.
According to news, Air China, China Southern Airlines, and China Eastern Airlines will all release their annual results on the 28th of this month. Earlier performance forecasts showed that the losses of the three major state-owned airlines have narrowed, but the recovery is not as fast as that of private airlines. The announcements of the three major airlines all mentioned that the relatively slow recovery of international passenger flights is an important reason affecting the recovery of the company's performance and continued operating losses.
Furthermore, China Merchants Securities pointed out that after the Spring Festival holiday ended, the domestic civil aviation market rapidly declined, and ticket prices dropped significantly. We believe that in addition to traditional off-season factors, domestic demand in early March was also affected by major meetings. Judging from high-frequency data, volume and price rebounded month-on-month in the domestic market starting in mid-March. As the Qingming holiday approaches, domestic demand is expected to recover further month-on-month.