Group 1 - The China Air Transport Association has released a self-regulatory convention for air passenger transport, emphasizing the need for industry self-discipline and prohibiting malicious competition aimed at excluding rivals [1] - The convention also calls for enhanced supervision of airline sales networks and agents, banning practices such as bundled sales and hidden charges [1] Group 2 - According to the "2024 Civil Aviation Industry Development Statistical Bulletin," China's civil aviation industry achieved a total transport turnover of 148.517 billion ton-kilometers in 2024, marking a year-on-year increase of 25.0%, with both passenger and cargo transport turnover exceeding 2019 levels [3] - Analysis from United Ratings indicates strong demand in the air passenger market for 2024, with domestic routes supporting the market and international passenger transport continuing to recover rapidly [3] - Despite increased capacity investment and soft demand for business travel, some airlines have not yet returned to profitability due to various factors including exchange rate fluctuations [3] - According to Xinda Securities, the industry has maintained high seat occupancy rates since early 2025, with low growth in domestic route capacity and a focus on increasing international routes [3] - The airline fleet's net growth rate is below 3%, leading to a relatively tight supply, while domestic route turnover has shown steady growth and international route turnover has significantly increased, nearly recovering to 2019 levels [3] - Xinda Securities also notes that while short-term capacity investment is high and demand needs time to recover, the sustained high occupancy rates indicate an improving supply-demand relationship, which is expected to drive ticket prices up [3] - The report suggests focusing on airlines such as Air China, China Eastern Airlines, China Southern Airlines, Spring Airlines, and Juneyao Airlines due to anticipated improvements in supply and demand during the peak summer travel season [3]

据国航消息，8月27日起，国航加拿大航线增班：北京首都-温哥华航线，CA991/2由每周一班增至每周 两班，班期为每周一、三。北京首都-多伦多航线，CA993/4由每周两班增至每周三班，班期为每周二、 四、六。增班后，国航加拿大航线每周往返达到12班。 ...

Group 1 - Shanghai Hongqiao and Pudong airports have simplified security measures by canceling passenger and luggage checks at terminal entrances, retaining only explosive detection to enhance efficiency and passenger experience [1] - The previous security process involved two checks, leading to long wait times during peak hours, prompting complaints from passengers [1] - Similar initiatives are being adopted nationwide, with multiple airports and airlines optimizing passenger experiences and reducing wait times [2] Group 2 - China Southern Airlines has eliminated the check-in cut-off time for flights between Guangzhou and Beijing Daxing, allowing passengers to arrive just 15 minutes before departure [2] - Other airports have also announced reductions in check-in cut-off times, with Shenzhen Bao'an International Airport being the first major airport to reduce its cut-off time to under 40 minutes [5] - The reduction in cut-off times is attributed to advancements in information technology, improving operational efficiency [6] Group 3 - Long wait times at airports have been identified as a significant issue for travelers, with over 51% of surveyed passengers expressing concerns about lengthy security checks and waiting times [6] - The increasing efficiency of high-speed rail services is influencing passenger choices, with many opting for trains over flights due to comparable total travel times [7][11] - The competition between civil aviation and high-speed rail is intensifying, particularly on key routes like the Beijing-Shanghai line, where high-speed rail continues to dominate in passenger numbers [11] Group 4 - In response to high-speed rail competition, Shanghai airports have introduced cross-airline voluntary transfer services for flights between Shanghai and Beijing [13] - The trend indicates a shift where civil aviation is learning from high-speed rail to enhance service and efficiency [13]

新华社塔什干7月22日电（记者李奥）中国国际航空股份有限公司22日开通乌鲁木齐至乌兹别克斯坦首都塔什干的直飞航线。首航庆祝仪式当天在 塔什干国际机场举行。 7月22日，在乌兹别克斯坦塔什干国际机场，国航乌鲁木齐至塔什干直飞航线客机通过"水门"。新华社发（中国国际航空股份有限公司供图） 新开通乌鲁木齐往返塔什干航线的航班号为CA779/80，班期为每周二、周五和周日，由波音737型客机执飞。 国航塔什干营业部总经理李光平表示，新航线开通为两国人员交流和经贸往来提供了更加便利的交通条件，将有助于释放两国合作潜力，推动双 方互联互通迈上新台阶。本月19日，国航还开通了北京往返塔什干的直飞航线，航班号为CA777/8。 马马德哈贾耶娃是来自乌兹别克斯坦安集延州的乘客，当天搭乘国航首趟直飞航班前往乌鲁木齐，开启为期一周的旅行。她对新航线开通感到非 常高兴，希望新航线能为两国人民带来更多便利和实惠，推动中乌友谊不断发展。 【纠错】 【责任编辑:王佳宁】 这是7月22日在乌兹别克斯坦塔什干国际机场拍摄的国航乌鲁木齐至塔什干直飞航线首航庆祝仪式现场。新华社发（扎法尔摄） ...

Core Viewpoint - The recent annual reports from China's three major airlines—China Southern Airlines, Air China, and China Eastern Airlines—highlight the growing significance of domestically produced aircraft, particularly the C919, with China Eastern Airlines becoming the first operator of the C919 fleet [1] Group 1: C919 Fleet and Operations - China Eastern Airlines has expanded its C919 fleet to 10 aircraft, having executed over 6,500 flights [1] - Among the 10 C919 aircraft operated by China Eastern, 4 are owned outright while 6 are held through financing leases [1] - In total, 16 C919 aircraft have been delivered in China over the past two years, with China Southern Airlines and Air China each operating 3 aircraft, all acquired through different leasing arrangements [1] Group 2: Financing and Leasing Institutions - Of the delivered C919 aircraft, 9 have been provided by financing leasing institutions, with China Southern's 3 aircraft delivered by China Everbright Leasing, ICBC Financial Leasing, and China Southern Leasing, while China Eastern's 6 aircraft were delivered by China Eastern Leasing, Zhuhai Financial Leasing, and ICBC Financial Leasing [2] - Numerous financial leasing companies have engaged in C919 aircraft leasing, with significant orders placed as early as 2010, including a 50-aircraft purchase intention agreement by Guoyin Financial Leasing [2] - Other notable financial leasing companies involved include Agricultural Bank of China Financial Leasing, CCB Financial Leasing, and Ping An Leasing, among others, with various orders totaling up to 50 aircraft [2] Group 3: Market and Policy Support - Approximately 600 out of 1,500 C919 orders received by COMAC are from financial leasing companies, indicating strong market interest [3] - The Chinese government has emphasized the importance of nurturing emerging industries, including commercial aerospace, which aligns with the growth of aircraft leasing as a financial strategy [3] - Financial leasing companies provide crucial support to the domestic aviation industry, helping alleviate financial pressures on airlines and facilitating technological advancements [3]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國國際航空股份有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00753 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 4,955,610,672 | RMB | | 1 RMB | | 4,955,610,672 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 4,955,610,672 | RMB | | 1 RMB | | 4,955,610,672 | | 2. 股份分類 | 普通股 | ...

Group 1 - The Beijing Aircraft Engine Maintenance Project has been completed, covering an area of nearly 60,000 square meters, and is expected to begin maintenance on its first aircraft engine by the end of the year, promoting high-level aviation maintenance, high-end manufacturing, aviation services, and technological research and development in the capital airport's economic zone [1] - The project is a joint investment by Air China and Rolls-Royce, featuring facilities such as the main overhaul workshop, test cell, oil pump room, and storage [1] - The total investment for the project is approximately 2.242 billion yuan, with the capacity to support up to 250 engines for maintenance annually and an expected workforce of 800, providing world-class maintenance, repair, and overhaul services for various Rolls-Royce engine models [1] Group 2 - The project is currently in the final preparation stage for production, with top-tier maintenance and testing equipment set to be installed, and technical and production teams preparing for in-depth training and process rehearsals [1] - The project aims to obtain CAAC/EASA airworthiness maintenance certification by the end of the year, with the first aircraft engine maintenance expected to commence at that time [1] - The Beijing Aircraft Engine Maintenance Project will effectively fill the gap in the maintenance of Rolls-Royce Trent series engines in mainland China [2]

Group 1 - Oil prices in Asia have declined due to OPEC+ agreeing to significantly increase production, raising concerns about global oversupply [1] - Brent crude oil prices have dropped to around $69 per barrel, while West Texas Intermediate crude is close to $67 per barrel [1] - OPEC+ has approved an increase of 547,000 barrels per day starting in September, aligning with market expectations [1] Group 2 - The potential cancellation of approximately 1.66 million barrels per day in production cuts remains uncertain at this time [1] - Recent declines in oil prices follow three months of increases, influenced by weak U.S. employment data and concerns over economic slowdown due to trade tensions [1] - National Securities has indicated that lower oil prices are beneficial for airline profitability, as fuel costs remain the largest expense for airlines [1] Group 3 - Cathay Pacific Securities suggests that short-term demand fluctuations do not alter the long-term growth logic of the aviation industry, recommending a contrarian approach to airline investments [2] - The Chinese aviation sector is expected to experience steady growth, with market-driven ticket pricing and a recovery in supply-demand dynamics anticipated over the next two years [2] - The airline supply has entered a low growth phase, but the medium-term outlook remains positive with oil price declines aiding profit recovery [2] Group 4 - Relevant Hong Kong-listed airline stocks include China National Aviation (601111) (00753), Southern Airlines (600029) (01055), and Eastern Airlines (00670) [3] - Private jet manufacturer mentioned is Cirrus (02507) [3]

FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國國際航空股份有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00753 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 4,955,610,672 | RMB | | 1 RMB | | 4,955,610,672 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 4,955,610,672 | RMB | | 1 RMB | | 4,955,610,672 | | 2. 股份分類 | 普通股 | ...

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600897 | 厦门空港 | 14.80 | 1.51% | 3.08万 | | 4523.08万 | | 002928 | 华夏航空 | 8.44 | 1.32% | 15.07万 | | 1.26亿 | | 000089 | 深圳机场 | 7.09 | 0.57% | 11.32万 | | 8012.92万 | | 603885 | 吉祥航空 | 12.29 | 0.41% | 15.72万 | | 1.93亿 | | 600004 | 白云机场 | 9.36 | 0.32% | 10.68万 | | 1.00亿 | | 600029 | 南方航空 | 5.67 | 0.00% | 43.15万 | | 2.44亿 | | 600115 | 中国东航 | 3.79 | 0.00% | 53.12万 | | 2.01亿 | | 600221 | 海航控股 | 1.48 | 0.00% | 230.61万 | | 3.42亿 | ...