本公司董事会及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。 证券代码：601111 股票简称：中国国航 公告编号：2025-062 一、董事会会议召开情况 中国国际航空股份有限公司（以下简称"公司"）第七届董事会第十次会议 （以下简称"本次会议"）的通知和材料于 2025 年 12 月 24 日以电子邮件的方式 发出。本次会议于 2025 年 12 月 30 日 11:30 在北京市顺义区天柱路 30 号国航总 部大楼 C713 会议室以现场结合视频方式召开。本次会议应出席董事 9 人，实际 出席董事 9 人，董事肖鹏先生因公务委托副董事长王明远先生出席并表决，独立 董事禾云先生因公务委托独立董事徐念沙先生出席并表决。本次会议由董事长刘 铁祥先生主持，公司高级管理人员列席本次会议。本次会议的召集和召开符合 《公司法》等相关法律、行政法规、规章、规范性文件以及公司章程的规定，合 法、有效。 中国国际航空股份有限公司 二、董事会会议审议情况 第七届董事会第十次会议决议公告 1. 关于修订《董事会审计和风险管理委员会（监督委员会）工作细则》的 ...

中国国航公告，公司及全资子公司国航进出口有限公司于2025年12月30日与空中客车公司签订飞机购置 协议，向空客公司购买60架空客A320NEO系列飞机，目录价格合计约为95.3亿美元，飞机将于2028年 至2032年分批交付。本次交易尚须公司股东会审议通过及国家批准认可。 (本文来自第一财经) ...

Core Viewpoint - China National Airlines (601111) has signed an aircraft purchase agreement with Airbus for 60 A320NEO series aircraft, with a total list price of approximately $9.53 billion, scheduled for delivery between 2028 and 2032 [1] Group 1 - The agreement was announced on December 30, 2023, indicating a strategic move to expand the airline's fleet [1] - The purchase reflects the company's commitment to modernizing its aircraft and enhancing operational efficiency [1] - The A320NEO series is known for its fuel efficiency and lower emissions, aligning with industry trends towards sustainability [1]

Investment Rating - The report assigns an "Overweight" rating for the aviation industry [6]. Core Insights - The Chinese civil aviation industry is expected to continue its recovery in supply and demand in 2025, with a forecasted industry-wide turnaround from losses to profitability [3][6]. - Demand is projected to grow steadily, with an estimated 5-6% increase in passenger traffic in 2025, including a 4% rise in domestic routes and over 20% in international routes [6][10]. - The supply side is entering a low growth phase, with a projected 3.7% increase in the fleet size of seven A-share airlines by November 2025 compared to the end of 2024 [6][19]. - The passenger load factor is expected to reach a historical high of 85%, an increase of 1.8 percentage points year-on-year [6][22]. - Ticket prices remain at historically low levels, with domestic ticket prices estimated to decrease by 2-3% year-on-year in 2025 [6][25]. - The industry is anticipated to significantly reduce losses and turn profitable in 2025, with quarterly performance showing improvements in profitability [6]. Summary by Sections Demand and Supply - Passenger traffic is expected to grow by 5-6% in 2025, with domestic routes increasing by 4% and international routes by over 20% [6][10]. - The industry is entering a low growth phase, with a projected 6% increase in available seat kilometers (ASK) [6][19]. Load Factor and Pricing - The passenger load factor is projected to increase by 1.8 percentage points to 85% [6][22]. - Domestic ticket prices are estimated to decrease by 2-3% year-on-year, while international ticket prices may see significant increases in the latter half of the year due to strong inbound demand [6][25]. Profitability Outlook - The industry is expected to turn profitable in 2025, with significant reductions in losses anticipated throughout the year [6]. - Quarterly performance indicates that the first quarter may see limited profit improvement due to high base effects, while the second quarter is expected to show substantial recovery [6].

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 601111 | 中国国航 | 9.10 | 4.36% | 132.56万 | 12.10亿 | | 601021 | 春秋航空 | 58.43 | 3.51% | 7.04万 | 4.07亿 | | 600029 | 南方航空 | 7.74 | 2.93% | C 83.93万 | 6.50亿 | | 600115 | 中国东航 | 5.69 | 2.52% | 143.38万 | 8.16亿 | | 603885 | 吉祥航空 | 14.25 | 1.64% | 24.13万 | 3.43亿 | | 600221 | 海航控股 | 1.81 | 0.56% | 1039.67万 | 19.03亿 | | 6600000 | 中信海直 | 20.48 | 0.34% | 15.36万 | 3.16亿 | | 600009 | 上海机场 | 33.39 | 0.03% | 10.75万 | 3.61亿 | | 002928 | 华夏航空 | 10 ...

来源：中 国国际航空 转自：北京日报客户端 据@中国国际航空，C919的9是什么意思？天长地久！今天国航第9架C919入列啦！欢迎欢迎～ ...

消息面上，据新华社12月27日报道，全国人大常委会会议12月27日表决通过新修订的民用航空法，自 2026年7月1日起施行。这部新修订的法律共16章262条，本次修法贯彻落实党中央决策部署，适应民航 事业发展新形势新要求，充实完善规范民用航空活动、保障民用航空安全和支持民航制造业、运输业、 低空经济发展的各方面制度措施，对于推动民航事业高质量发展具有重要意义。 来源：上海证券报·中国证券网 上证报中国证券网讯（记者 曾庆怡）12月29日上午，A股民用航空概念震荡上涨。截至10时11分，中国 国航涨超6%，中国东航、南方航空涨超3%。港股航空板块同步拉升，中国国航、中国东方航空股份涨 超3%，中国南方航空股份涨超2%。 上证报中国证券网讯（记者 曾庆怡）12月29日上午，A股民用航空概念震荡上涨。截至10时11分，中国 国航涨超6%，中国东航、南方航空涨超3%。港股航空板块同步拉升，中国国航、中国东方航空股份涨 超3%，中国南方航空股份涨超2%。 消息面上，据新华社12月27日报道，全国人大常委会会议12月27日表决通过新修订的民用航空法，自 2026年7月1日起施行。这部新修订的法律共16章262条，本次修法 ...

本文源自：金融界AI电报 近日连续回调的港股三大指数再度活跃，中国国航一度涨近5%刷新近期阶段新高，中国东方航空目前 涨3.5%，中国南方航空涨2%。 ...

Group 1 - The core viewpoint of the news highlights the recent rebound in Hong Kong's stock indices, particularly in the airline sector, with China National Aviation experiencing a nearly 5% increase, reaching a recent high [1] - The upcoming New Year holiday is expected to drive both volume and price increases in the airline ticket market, with significant activity noted in the tourism sector due to multiple factors including the closure of Hainan and the approaching holiday [1] - The civil aviation market for the New Year holiday shows a marked increase in activity compared to previous years, with airlines boosting capacity on popular winter tourism routes, leading to higher ticket sales progress [1] Group 2 - Specific stock performance includes China National Aviation at 7.070 with a 3.97% increase, China Eastern Airlines at 5.280 with a 3.53% increase, and China Southern Airlines at 5.700 with a 1.97% increase [2] - There is a notable increase in passenger flow from Northeast regions to Shenzhen, with a year-on-year growth of 4.3% in traffic at Shenzhen Airport [1]

Group 1 - The core viewpoint of the article highlights a significant increase in airline stocks, driven by favorable market conditions and upcoming holiday travel demand [1] - China Southern Airlines (01055) saw a stock increase of 1.97%, trading at 5.7 HKD, while China Eastern Airlines (00670) rose by 3.73% to 5.29 HKD, and Air China (00753) surged by 4.41% to 7.1 HKD [1] - The offshore RMB against the USD briefly surpassed the "7" mark, alleviating exchange rate pressure on airlines [1] Group 2 - Data indicates that domestic flight ticket bookings exceeded 2.71 million, representing a year-on-year increase of approximately 35% as of December 25 [1] - The upcoming New Year holiday from January 1 to January 3, 2026, is expected to boost travel, with flexible holiday arrangements encouraging more air travel [1] - Analysts from Zhongtai Securities express optimism regarding the airline sector, citing falling oil prices, a stronger RMB, and the holiday season as catalysts for improved airline performance [1]