转自：西安文旅 4月20日起，东方航空将正式开通"西安-维也纳"全新国际直飞航线，东方航空运营的欧洲航线总数达到 27条。 东方航空"西安-维也纳"航线采用A330机型执飞。往返航班号MU5063/4，每周一、周四、周六执飞。 去程航班： 于北京时间1:30从西安咸阳国际机场起飞，当地时间凌晨6:10抵达维也纳国际机场； 于当地时间13:30从维也纳起飞，北京时间次日5:50返回西安。 新航线不仅首次在中国西北地区与奥地利之间搭建起空中桥梁，更将"古丝绸之路"的东方起点与享誉世 界的欧洲"音乐之都"紧密相连，为两地间的经贸合作、文化交流与旅游互访注入了全新的活力。 随着东航"西安-维也纳"全新国际直飞航线的开通，东航构建的欧洲"空中丝绸之路"网络日趋完善。旅 客从国内部分城市出发，可便捷直达众多欧洲城市，享受覆盖广泛、衔接顺畅的飞行体验。 位于陕西西咸新区空港新城的西安咸阳国际机场，是西北地区规模最大的国际航空枢纽，客货吞吐量常 年位居西北第一。2025年机场全年旅客吞吐量突破4800万人次，创年度历史最高水平；运送国际旅客 198.7万人次，同比增长50%；全年运营国际客运航线60条，通达25个国家52个主 ...

Group 1 - The core viewpoint is that the extension of the Spring Festival holiday in 2026 will continue to support strong demand for family visits and travel [2] - The 2024 Spring Festival holiday will be adjusted to 8 days, extending by 1 day compared to 2023, and encouraging time off from New Year's Eve [2] - The 2025 Spring Festival holiday will increase by 1 day, optimizing the adjustment principles, and the significant "拼假" effect will be evident [2] Group 2 - The expected cross-regional personnel flow during the 2026 Spring Festival is projected to reach 9.5 billion, a year-on-year increase of approximately 5.3%, setting a new historical high [3] - The railway is expected to send 539 million passengers, a 5.0% increase year-on-year, with passenger capacity also increasing by 5.3% [3] - The civil aviation sector anticipates a passenger transport volume of 95 million, a year-on-year growth of 5.3%, with Southern Airlines and Eastern Airlines expecting daily flight increases of 4.2% and 3.6% respectively [3] Group 3 - The 2026 Spring Festival travel demand is expected to be strong, with a gradual increase in passenger flow and ticket prices maintaining year-on-year growth [4] - The pre-holiday week will see a mix of business and travel passengers, with a confirmed peak in passenger flow before the holiday [4] - The average domestic ticket price is expected to continue rising, supported by high passenger load factors and market-driven pricing [4] Group 4 - The Chinese aviation industry is anticipated to enter a "super cycle," driven by market-driven pricing and a recovery in demand and passenger structure [5] - The long-term logic will provide dual space for performance valuation, with continuous positive feedback from fundamentals and seasonal performance catalyzing market optimism [5] - Recommendations include increasing holdings in major airlines such as Air China, Juneyao Airlines, China Eastern Airlines, China Southern Airlines, and Spring Airlines [5]

2月4日，航空板块集体异动，华夏航空、中国东航涨停，旅游ETF（562510）涨超2%，中国国航、吉 祥航空、海南机场、上海机场等跟涨。 旅游ETF（562510）重仓航空机场概念，有望受益于"反内卷"及春节假期出行数据的催化。 近期航空板块迎来密集催化：2026年全国民航工作会议明确继续整治反内卷，东航2025年扭亏，华夏航 空净利润大幅增长。 财通证券表示，过去影响民航业票价因素逐渐得到改善，未来行业供需差将转化为票价涨幅，推动中国 民航业业绩爆发，看好"航空行业"。 ...

Core Viewpoint - The A-share aviation sector experienced a significant surge, with major airlines like China Eastern Airlines and Huaxia Airlines hitting the daily limit, while Southern Airlines and Air China saw increases exceeding 6% [2][7]. Group 1: Market Performance - On February 4, 2026, the A-share aviation sector collectively rose, with Huaxia Airlines and China Eastern Airlines reaching the daily limit [2]. - Southern Airlines and Air China recorded gains of over 6% [2]. - The Shanghai Composite Index remained stable at 4067.67, while the ChiNext Index fell by 1.74% [3]. Group 2: Spring Festival Travel - The 2026 Spring Festival travel period began on February 2, with expectations of record-breaking passenger volumes [5]. - On the first day of the Spring Festival travel, civil aviation passenger volume reached 2.19 million, a 5.3% increase compared to the same period in 2025 [5]. - The average domestic economy class ticket price on the first day was 807 yuan, reflecting a 9.3% year-on-year increase, although it was a slight decrease of 1.5% compared to 2019 [5][6]. Group 3: Airline Strategies and Financial Performance - China Eastern Airlines has seen substantial stock price increases, with A-shares and H-shares rising by 50% and 105.79% respectively over the past year, making it the top performer among eight listed airlines in Shanghai and Hong Kong [7]. - The airline's "Three Flying Strategy" has contributed to its success, with the opening of 24 new international routes in 2025 [7]. - Huaxia Airlines is projected to report a net profit of 500 to 700 million yuan for 2025, marking an increase of 86.59% to 161.22% year-on-year [7]. - Southern Airlines is expected to turn a profit with a projected net profit of 800 to 1 billion yuan, while China Eastern and Air China anticipate significant reductions in losses due to tax adjustments [7].

2026.02. 04 本文字数：947，阅读时长大约1分钟 作者 | 第一财经 陈姗姗 2月4日，A股航空板块集体大涨。截至中午收盘，华夏航空和中国东航涨停，南方航空和中国国航涨幅也超过6%。 | 中国国航 | | | 8.94 | | 6.05% | | --- | --- | --- | --- | --- | --- | | 沪 601111 | | | | | | | 美元兑人民币(CFETS) | | | 6.9375 | | 0.02% | | FX USDCNY | | | | | | | NYMEX WTI原油 | | | 63.81 | | 0.95% | | 期 CL | | | | | | | 上证指数 | | | 4067.67 | | 0.00% | | 沪 000001 | | | | | | | 创业板指 | | | 3266.99 | | -1.74% | | 深 399006 | | | | | | | 海航控股 | | | 1.74 | | 4.19% | | 沪 600221 | | | | | | | 南方航空 | | | 8.25 | | 7.84% | | 沪 6 ...

Core Viewpoint - The A-share aviation sector has seen significant gains, with several airlines recently disclosing optimistic 2025 performance forecasts, leading to a surge in stock prices [1][6]. Group 1: Stock Performance - On February 4, the A-share aviation sector collectively rose, with Huaxia Airlines and China Eastern Airlines hitting the daily limit, while Southern Airlines and Air China saw increases exceeding 6% [1]. - China Eastern Airlines and Huaxia Airlines reported substantial stock price increases of 9.98% and 10.02%, respectively, while Southern Airlines rose by 7.84% [2][5]. Group 2: Spring Festival Travel - The 2026 Spring Festival travel period began on February 2, with expectations of record passenger volumes, as the first day saw 2.19 million air travelers, a 5.3% increase from the same day in 2025 [3][5]. - The average ticket price for domestic economy class on the first day of the Spring Festival was 807 yuan, reflecting a year-on-year increase of 9.3%, although it was a slight decrease of 1.5% compared to the same period in 2019 [3][5]. Group 3: Airline Performance Forecasts - Huaxia Airlines expects a net profit of 500 to 700 million yuan for 2025, representing a year-on-year increase of 86.59% to 161.22% [6]. - Southern Airlines anticipates a turnaround with a projected net profit of 800 million to 1 billion yuan, while China Eastern Airlines and Air China expect significant reductions in losses due to tax adjustments rather than operational issues [6]. - The overall profitability of the civil aviation sector in 2025 is projected to be 6.5 billion yuan, with the total number of air travelers exceeding 500 million, making China the largest aviation population globally [6].

Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) announced the incentive income for executives of central enterprises for the 2022-2024 term, with a total of 87 enterprises disclosing their incentive income figures. Group 1: Incentive Income Overview - The total incentive income for central enterprise executives consists of annual salary and term incentive income, with the latter being distributed every three years [1]. - Notable figures include: - Jiao Houliang, Chairman of China National Petroleum Corporation, with an incentive income of 86.21 million RMB for the 2022-2024 term [1]. - Ma Yongsheng, Chairman of Sinopec, with an incentive income of 84.81 million RMB [3]. - Wang Dongjin, Chairman of China National Offshore Oil Corporation, with an incentive income of 86.06 million RMB [4]. Group 2: Specific Executive Incentive Income - Zhang Wei, Chairman of the National Oil and Gas Pipeline Group, has an incentive income of 78.17 million RMB [6]. - Meng Zhenping, Chairman of China Southern Power Grid, has an incentive income of 83.54 million RMB [8]. - Temperature of incentive income varies across different enterprises, with some executives like Liu Mingsheng from China Power Investment Corporation receiving 26.02 million RMB for the 2022-2024 term [13]. Group 3: Additional Notable Executives - Chen Zhongyue, Chairman of China Unicom, has an incentive income of 80.49 million RMB [17]. - Xu Peng, from China First Automobile Group, has an incentive income of 82.54 million RMB [23]. - Wang Xianming, Chairman of China Resources Group, has an incentive income of 82.44 million RMB [54].

Market Overview - On February 4, the A-share market experienced a decline, with the Shanghai Composite Index turning negative and the ChiNext Index dropping over 2%. The total trading volume in the Shanghai and Shenzhen markets reached 1.63 trillion yuan, an increase of 12.7 billion yuan compared to the previous trading day, with over 2900 stocks declining [1]. Sector Performance - The space photovoltaic concept showed strong performance, with Zhonglai Co. hitting the daily limit and Guosheng Technology achieving two consecutive limits. The airport and shipping sectors also performed well, with China Eastern Airlines and Huaxia Airlines reaching their daily limits. The real estate sector was active, with Rong'an Real Estate and Caixin Development hitting their daily limits. The hydrogen energy concept surged, with Jingcheng Co. and Zhiyuan New Energy reaching their daily limits [4]. - The coal sector experienced a significant surge, with major coal companies like Yanzhou Coal Mining and China Coal Energy both hitting their daily limits. Other stocks such as Shaanxi Black Cat and Meijin Energy also reached their daily limits, while Shaanxi Coal and Chemical, Shanxi Coal International, Xinji Energy, and China Shenhua followed suit [4]. Coal Supply Impact - Reports indicate that the Indonesian government has proposed a significant production cut, leading to a suspension of spot coal exports by local miners. China is the largest importer of Indonesian coal, with an expected import of 242 million tons in 2024, accounting for 42.73% of Indonesia's total exports. This suspension is projected to impact China's thermal coal supply by 5.3%, increasing inventory pressure on power plants in Southeast China. Additionally, there are reports of rising coal prices domestically [6]. Precious Metals Market - The precious metals sector opened with a rebound but later turned negative, with companies like Zijin Mining and Hunan Gold experiencing declines. The National Investment Silver LOF resumed trading and hit the daily limit down, with a latest premium rate of 64.6%. After significant drops on January 30 and February 2, spot gold prices rebounded to over $5000, while spot silver reached $88 per ounce [7]. - Market sentiment remains volatile, with speculative funds showing significant movement. The geopolitical uncertainty surrounding US-Iran negotiations continues to pose risks. Overall, the precious metals market is influenced heavily by market emotions, with short-term volatility risks to be monitored, while long-term trends remain optimistic [7]. Individual Stock Highlights - Guizhou Moutai's stock rose over 2%, reaching a price above 1500 yuan for the first time since September 15, 2025 [8]. Hong Kong Market - The Hang Seng Technology Index fell over 2%, with many tech stocks in Hong Kong experiencing declines. Notable drops included Bilibili down over 4%, Tencent Holdings down over 3%, and other companies like Baidu, Lenovo, NetEase, Meituan, and Xiaomi all falling over 2% [9]. Cryptocurrency Market - The cryptocurrency market saw a collective downturn, with Bitcoin experiencing a high-level correction of nearly 40% [10].

作为国内首家实现空中Wi-Fi服务全程可用的航空公司，东航近年来始终致力于在机上互联领域的持续 耕耘。2023年8月，东航率先突破技术瓶颈，成为全国首家在飞行高度3000米以下仍开放空中Wi-Fi服务 的航空公司；2025年8月起，东航将国内"空中快线"航班的免费Wi-Fi服务从头等舱、公务舱拓展至超级 经济舱及指定经济舱舱位；同年10月，东航再次对"空中快线"Wi-Fi服务进行升级，所有宽体机执行的 国内"空中快线"航班提供经济舱全舱位基础版Wi-Fi服务。2026年1月1日，东航将免费Wi-Fi覆盖到了所 有宽体机执飞的国内航班。 《中国民航报》、中国民航网 记者钱擘 报道：今年除夕，东航将为所有宽体机执飞的国际及港澳台地 区入境航班旅客免费赠送4个半小时的机上高速Wi-Fi，旅客可于北京时间20:00至次日00:30收看央视马 年春晚直播。 而此次云端看春晚活动，东航更依托其在空地互联领域的领先优势，打破物理距离的限制，让"天涯共 此时"的梦想照进现实。（编辑：贾昊天 校对：李海燕 审核：程凌） ...

《中国民航报》、中国民航网 记者路泞 通讯员关向贞 报道：东航西北分公司紧跟东航集团数字化转型 步伐，深入践行"人民航空为人民"的宗旨，持续深化服务提升行动，以"精心、精准、精致、精 细"的"四精"服务理念完善航延服务。东航西北分公司地服部聚焦旅客出行核心需求，创新服务产品、 优化服务流程，经过前期充分筹备与多轮测试，"航延电子餐券"服务已于2026年近日在西安咸阳国际机 场T5航站楼正式上线启用。 服务提升无小事，细节打磨见初心。该项目于2025年下半年启动，历经四个多月的精心推进，东航西北 分公司地服部协同总部服务管理部门、数字科技与电商等相关部门，构建起全链路服务保障体系，逐一 攻克各项难点问题。从合作商铺的资质审核、餐食套餐的定价与搭配，到电子卡券系统的规则搭建、技 术对接，再到多轮功能测试、流程优化与漏洞修补，每一个环节都精益求精，确保服务流程顺畅、旅客 使用便捷。为保障服务落地质量，2025年12月至2026年1月，项目组开展多场次专项培训，对登机口、 服务台等一线工作人员进行全面赋能，详细讲解电子餐券的申请、审批、发放流程，以及旅客咨询的常 见问题解答技巧，确保每一位工作人员都能熟练掌握相关操作 ...