Core Insights - The winter-spring aviation season will commence on October 26, with Guangzhou Baiyun Airport set to introduce multiple new domestic and international routes, enhancing travel options for passengers [2] - China Southern Airlines (CSA) is expanding its passenger flight network with approximately 470,000 total flight operations planned, focusing on key hubs such as Guangzhou and Beijing Daxing [3] Group 1: New Routes and Frequency - Baiyun Airport will operate 10,728 passenger flights weekly, with several airlines, including CSA, Air China, and Eastern Airlines, increasing flights from Guangzhou [2] - Nine Air will launch 19 new routes for the winter-spring season, including direct flights from Guangzhou to Chizhou and Hanzhong, reducing travel time to under 3 hours [2] - CSA will introduce new international routes, including Guangzhou to Madrid and Darwin, and will resume direct flights to Perth and Adelaide, increasing flight frequency to Australia by 30% [3] Group 2: Market Demand and Capacity - Nine Air's new routes include domestic flights to Chizhou, Hanzhong, and Changzhou, providing more options for travelers [2] - CSA's fleet expansion includes the C909 and C919 aircraft, with over 700 weekly flights planned to meet market demand [3]

Core Points - Qingdao Airport launched the "Qingyi Fei Please Medical Flight" promotional event to provide special flight discounts for healthcare workers, in collaboration with 11 airlines [1][4] - The event aims to honor healthcare professionals by offering exclusive travel benefits and showcasing new domestic and international routes for the upcoming 2025/26 winter-spring season [1][4] - Airlines are providing various travel perks, including free ticket lotteries, exclusive discounted fares, round-trip packages, and high-value membership cards, along with priority check-in and additional luggage allowances [1][3] Airline Industry Developments - The event highlighted new and enhanced flight routes, particularly to popular winter tourism destinations and southern cities, catering to the travel needs of healthcare workers [1][3] - Feedback from healthcare professionals indicates a positive reception towards new routes, such as those to Southeast Asia, enhancing short getaway options [3] - Qingdao Airport plans to expand the "Qingyi Fei" series of public welfare activities to more community settings, aiming to improve accessibility and convenience of air travel for local citizens [4]

（南航供图） 《中国民航报》、中国民航网 记者路泞 报道：2025年民航冬春航季从2025年10月26日开始至2026年3月 28日结束，共计154天。此次换季，南航根据新航季旅客需求及特点，持续优化陕西地区运力布局和航 线网络结构，满足旅客多样化的航空出行需求，丰富旅客出行体验。 2025年冬春航季，南航将在陕西地区运营29条航线，通航点达26个，其中国内23个，国际3个。国内主 要通航点为广州、深圳、大兴、乌鲁木齐、哈尔滨、大连、长沙、沈阳等，国际通航点为"一带一路"沿 线哈萨克斯坦的阿拉木图、土库曼斯坦的阿什哈巴德以及塔吉克斯坦的杜尚别。并且南航持续深耕打 造"陕广"快线，积极畅通陕西与粤港澳大湾区的空中航线通道——西安至广州航线，从早上八点整到晚 上九点整，南航在此期间整点运行九个航班，日均投入座位数达1650座；西安至深圳航线，南航每天运 行六班，日均投入座位数达1300座，最大化便捷旅客出行体验。 冬春航季新增的两条航线，其中西安至重庆航线，航班号为CZ2304/3，周期为每日一班，去程起飞时 间为10:55，抵达时间为12:25；回程起飞时间为08:05，抵达时间为09:50。新增延安至武汉航线 ...

北京商报讯（记者 关子辰 牛清妍）10月24日，北京商报记者从南航获悉，自2025年10月26日起至2026年3月28日，南航集团将正式执行2025/26年冬春航季 航班计划，计划执行客运航班总量约47万班次（往返算２班次，下同）。 新航季，南航在客运航线网络上新开和加密了多条国内外航线。具体来看，南航将重点强化广州、北京大兴、乌鲁木齐等枢纽的航线网络，新开北京大兴— 西双版纳航线（每天一班），加密广州往返杭州、温州、福州，北京大兴往返义乌、宁波，乌鲁木齐往返杭州、昆明等多条航线。 国际及地区方面，南航计划于12月2日起新开广州—马德里、12月3日起新开广州—达尔文国际长航线。为应对澳大利亚旅游旺季，南航计划于11月29日起复 航广州至珀斯直飞航线，11月30日起复航广州至阿德莱德直飞航线。同时，还在悉尼、布里斯班等航线增加近160个往返航班，澳大利亚航线班次量同比增 加30%。 图片来源：南航供图 此外，南航C909和C919国产飞机机队规模持续扩大，周航班量超700班次。南航将在更多航线上实现国产飞机的常态化商业运营。 在货运物流方面，南航物流同步执行新航季计划，全力铺开货运网络布局。新航季计划运营货机航 ...

Core Viewpoint - The 2025 Aviation Safety Officer Skills Competition held by China Southern Airlines emphasizes the importance of aviation safety as a fundamental aspect of the airline's high-quality development and operational integrity [4]. Group 1: Competition Overview - The competition took place in Guangzhou and lasted over three months, featuring 16 finalists from various subsidiaries of China Southern Airlines [1]. - The event was organized by the labor union of China Southern Airlines and included three stages: preliminary, semi-final, and final, focusing on both theoretical knowledge and practical skills [5]. Group 2: Safety and Professional Development - The company stresses that aviation safety is the lifeline of the civil aviation industry and requires all employees to prioritize "absolute safety" in their actions [4]. - Participants were evaluated on their mastery of the "Aviation Safety Officer Work Manual," psychological resilience, tactical application, and overall emergency response capabilities [5]. Group 3: Awards and Recognition - Four participants were awarded the title of "National Civil Aviation Technical Expert," while ten received the title of "China Southern Airlines Technical Expert" [5]. - The competition also recognized outstanding teams and organizations with various awards, promoting a culture of excellence and continuous improvement within the airline [6].

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600897 | 厦门空港 | 15.70 | 2.28% | 11.68万 | | 1.84亿 | | 000099 | 中信海直 | 21.95 | 0.78% | 11.88万 | | 2.61亿 | | 600009 | 上海机场 | 31.37 | -0.03% | 5.18万 | | 1.63亿 | | 600004 | 白云机场 | 9.56 | -0.42% | 12.60万 | | 1.21亿 | | 600221 | 海航控股 | 1.68 | -1.18% | 446.69万 | | 7.56亿 | | 600029 | 南方航空 | 6.58 | -1.20% | 80.50万 | | 5.26亿 | | 002928 | 华夏航空 | 10.63 | -1.67% | 22.94万 | | 2.43亿 | | 600115 | 中国东航 | 4.85 | -1.82% | 112.63万 | | 5.43亿 ...

（原标题：新型航空燃料热浪来袭！碳减排最多达九成） 中国加快可持续航空燃料（SAF）应用试点。 到2030年，欧洲经济区内机场起飞航班混合加注SAF比例提升至6%；从2026年起，新加坡对所有离境 航班征收可持续燃料税；从2027年起，印度、马来西亚、韩国推出SAF强制掺混配额……全球航空能源 消费的"SAF时代"呼啸而来。 航空业是交通领域减排难度最大的产业，而今也踏上找寻传统燃油替代的征程。在政策驱动下，SAF需 求或将迎来爆发式增长，业内预计，2030年至2035年，行业供需缺口将超2600万吨。按照当前近20000 元每吨价格计，SAF市场规模将达数千亿元。 "SAF热浪"来袭，曾被厌弃的地沟油，化身为飞机绿色燃料，甚至一度出现"地沟油不够用"的供需失衡 情况。面对强需求预期，A股公司布局SAF业务明显提速，但低产能和高成本是重要考验。 河南君恒生物厂区装置高效运转，"吞"下地沟油原料，产出SAF等产品。地上废弃物摇身一变化身为飞 机引擎的"绿色动力"，推进濮阳这座石化之城擘画绿色转型新图景。 相较于传统燃油，SAF能降低69%—90%的二氧化碳排放，且能无缝衔接现有的商飞动力系统，成为当 前航空业减 ...

Core Viewpoint - China Southern Airlines' stock price has shown a slight increase of 0.46% year-to-date, with notable gains over the past 5, 20, and 60 trading days, indicating a positive short-term trend in the market [2]. Financial Performance - For the first half of 2025, China Southern Airlines reported a revenue of 86.29 billion yuan, reflecting a year-on-year growth of 1.77%. However, the net profit attributable to shareholders was -1.53 billion yuan, a decrease of 24.84% compared to the previous year [2]. - The company has cumulatively distributed 6.629 billion yuan in dividends since its A-share listing, with no dividends paid in the last three years [3]. Stock Market Activity - As of October 24, the stock price of China Southern Airlines was 6.52 yuan per share, with a market capitalization of 118.15 billion yuan. The stock experienced a decline of 2.10% during the trading session [1]. - The trading volume was 93.56 million yuan, with a turnover rate of 0.11%. There was a net outflow of 3.99 million yuan in principal funds, with large orders accounting for 5.32% of purchases and 9.58% of sales [1]. Shareholder Structure - As of June 30, 2025, the number of shareholders for China Southern Airlines was 140,000, a decrease of 7.17% from the previous period. The average circulating shares per person remained at 0 shares [2]. - Among the top ten circulating shareholders, Hong Kong Central Clearing Limited held 582 million shares, a decrease of 2.65 million shares from the previous period. Meanwhile, Huatai-PB CSI 300 ETF and E Fund CSI 300 ETF increased their holdings [3].

证券研究报告——晨会聚焦 2025 年 10 月 24 日 | 10 月金股组合 | | | --- | --- | | 股票代码 | 股票名称 | | 600029.SH | 南方航空 | | 600428.SH | 中远海特 | | 601233.SH | 桐昆股份 | | 002409.SZ | 雅克科技 | | 300750.SZ | 宁德时代 | | 000524.SZ | 岭南控股 | | 688249.SH | 晶合集成 | | 002916.SZ | 深南电路 | | 002241.SZ | 歌尔股份 | | 002609.SZ | 捷顺科技 | 中银晨会聚焦-20251024 ■重点关注 【宏观经济】上半年对外经济部门体检报告*管涛 刘立品。上半年，面对特 朗普关税政策冲击，全球货物贸易表现超出预期，我国外贸同样展现出较强 韧性，推动经常项目顺差创历史同期新高，但顺差规模占 GDP 比重处于国 际认可的合理范围以内，人民币汇率并未明显偏离均衡合理水平。 【电力设备】固态电池系列报告之三*武佳雄 李扬。固态电池作为新能源汽 车动力电池的下一代技术，在安全性、能量密度上具备显著优势，受到政策 大 ...

王某某所在分公司领导告诉记者， 他们内部规定不能透露该事件，"我们觉得没有什么信息要透露的" ，最终是否对外回应将由总部决定。 （新华日报） 10月23日，针对上述说法，男方王某某告诉记者，这个事情由公司答复，他不方便讲太多。 "沉舟侧畔"表示，经过举报，南方航空对王某某进行了诫勉谈话，但她认为该处理方式较轻。 转自：新华日报 近日，网友"沉舟侧畔"向记者反映，丈夫王某某今年48岁，在南方航空空保管理部担任空警，数年来多次偷窃机舱供品放置家中，"他就是一直保 持这个习惯，什么干湿纸巾、小零食、面包、红酒全是从飞机上拿下来的，认为不拿白不拿"。 "沉舟侧畔"提供举报的65页PPT中显示，家中水杯、毛巾、水壶、刀叉均印有"机组"、"南方航空"字样或标识。 ...