Core Viewpoint - The East China Air Traffic Management Bureau has expanded its joint emergency response training video course library in collaboration with various aviation entities, enhancing air-ground coordination capabilities for emergency situations [1] Group 1: Course Development - The first phase of the joint emergency response training video course was launched in April 2025 in collaboration with China Eastern Airlines and received widespread recognition [1] - Following this, the East China Air Traffic Management Bureau partnered with China Southern Airlines Shanghai Branch, Pudong Airport, and China Eastern Airlines to further expand the course content [1] - A total of four additional phases of the "Joint Emergency Response Training Video Course" have been completed, establishing a preliminary library for air-ground coordinated emergency response training [1] Group 2: Course Content and Structure - The expanded course library covers three major control specialties: tower, approach, and area control [1] - The training focuses on five typical emergency scenarios: aircraft engine failure, cabin fire, emergency fuel situation, bird strike recovery, and takeoff recovery conflict resolution [1] - A new training paradigm has been constructed, combining "scenario-based teaching" with "standardized processes" for air-ground coordination [1]

Group 1 - China Eastern Airlines will launch a direct round-trip flight route between Wuhan and Yanji from February 6 to 22, marking the first direct flight from Wuhan to Yanji [1] - The Wuhan-Yanji route will operate three times a week on Wednesdays, Fridays, and Sundays, with flight MU2461 departing Wuhan at 14:50 and arriving in Yanji at 18:20, and flight MU2462 returning from Yanji at 19:10 to arrive in Wuhan at 22:55 [1] - Yanji, located in eastern Jilin Province, is a key city and an excellent tourist destination, situated 60 kilometers from the China-Russia border and 10 kilometers from the China-North Korea border [5] Group 2 - The opening of the Wuhan-Yanji route establishes an air bridge between Hubei and Jilin, facilitating efficient interaction of tourism, cultural, and economic resources between Central China and Northeast China [5] - The route aims to meet the travel demands of passengers from Wuhan and surrounding areas who wish to experience Yanji's winter tourism and cultural offerings, while also providing a convenient channel for Yanji's specialty agricultural and cultural products to enter the Central China market [5] - During the 2026 Spring Festival travel season, China Eastern Airlines plans to increase capacity and enhance popular routes, including daily flights from Wuhan to international destinations such as Singapore, Kuala Lumpur, and Bangkok, as well as domestic routes to Boao and Shenyang [5]

《中国民航报》、中国民航网 记者钱擘 报道：日前，东航武汉公司收到一面写有"主动担当解急难 跨 境寻回暖客心"的锦旗。旅客李先生专程赶来，感谢元旦期间，通过东航人跨越国界、空地无缝衔接的 努力，自己遗落在海外的手机得以寻回。 元旦当天，从曼谷飞往武汉的MU2564航班即将关闭舱门，旅客李先生焦急地找到乘务长蔡述亚，称自 己的手机可能遗失在候机楼，内存重要工作文件。航班已接近起飞，旅客若下机将影响后续安排。蔡述 亚迅速安抚旅客，协助其仔细回忆遗失位置。飞机起飞后，乘务组在航程中持续安慰旅客，并完善信息 记录，为后续寻回打下基础。 航班落地后，信息第一时间转至地面环节，东航武汉公司地服部的国际值机员陈子威立即与旅客取得联 系，详细核对信息，同步联动曼谷场站启动寻找；两地高效协作，仅约一小时，便在曼谷机场寻获手 机。东航武汉公司随即又协调最近航班的空乘人员，让手机随后续航班送回武汉。 "本来已不抱希望，没想到还能找回来。"这份跨越国界的完璧归赵，让李先生惊喜不已，送来锦旗，致 谢东航人从客舱到地面、从武汉到曼谷的暖心接力。（编辑：许浩存 校对：陈虹莹 审核：韩磊） ...

Market Overview - The aviation and airport sector experienced a decline of 0.33% on January 8, with Xiamen Airport leading the drop [1] - The Shanghai Composite Index closed at 4082.98, down 0.07%, while the Shenzhen Component Index closed at 13959.48, down 0.51% [1] Stock Performance - Notable stock performances include: - CITIC Hainan Airlines (Code: 6600000) rose by 2.26% to close at 21.27 with a trading volume of 249,100 shares and a turnover of 530 million yuan [1] - Spring Airlines (Code: 601021) increased by 0.66% to 59.43 with a turnover of 310 million yuan [1] - China Eastern Airlines (Code: 600115) saw a rise of 0.65% to 6.18 with a trading volume of 827,800 shares [1] - Xiamen Airport (Code: 600897) fell by 1.86% to 17.39 with a turnover of 162 million yuan [2] Capital Flow - The aviation and airport sector saw a net outflow of 222 million yuan from major funds, while retail investors contributed a net inflow of 243 million yuan [2] - The capital flow for individual stocks indicates: - CITIC Hainan Airlines had a net outflow of 33.83 million yuan from major funds [3] - Shanghai Airport experienced a net inflow of 11.45 million yuan from major funds [3] - Xiamen Airport had a net outflow of 15.54 million yuan from major funds but a net inflow of 16.07 million yuan from retail investors [3]

Core Insights - The domestic flight market in China has experienced a dramatic price drop following the New Year holiday, with many popular routes offering tickets at 1-2% of their original prices [1][2] - The price adjustments are attributed to a seasonal decrease in passenger traffic after the holiday, creating a "window" for off-peak travel opportunities [2][3] Group 1: Price Trends - Ticket prices from Guangzhou to Shanghai have fallen to as low as 210 yuan, equivalent to 1.1% of the original price, while flights from Chongqing to Ningbo are available for only 199 yuan, or less than 1% [1][2] - Numerous routes from major cities, including Beijing and Shanghai, are seeing prices around 200 yuan, with discounts generally below 1.3% [2] Group 2: Fuel Surcharge Adjustments - Alongside the drop in ticket prices, domestic airlines have also reduced fuel surcharges, with new standards implemented on January 5, lowering fees by 10 yuan for flights under 800 kilometers and 20 yuan for longer flights [2] - This adjustment can save families significant amounts on travel costs, enhancing the overall affordability of air travel [2] Group 3: Market Performance and Future Outlook - The civil aviation market performed well during the New Year holiday, with a total passenger volume of 5.88 million, reflecting a year-on-year increase of 10.4% [3] - Analysts predict that the aviation industry will enter a new development phase in 2026, with improved supply-demand dynamics expected to enhance profitability [3][4]

东航武汉GOC以"全流程、动态化"监管为核心，承担地面运行与服务保障的集中指挥、协调及监控职 责，覆盖飞机进港挡轮档至撤轮档推出的全链条保障环节，确保各环节高效衔接、步调一致。中心设置 服保经理、航班主控、运行协调、中转决策、集中派工、运行监察六大核心席位，各席位各司其职、协 同联动。统计显示，新的模式启动以来，航班加油、装卸、清洁、配餐等关键环节的平均保障时长缩短 2分钟以上，为航班正常运行奠定了坚实基础。 东航武汉GOC成立后，地面运行模式从"分散操作"向"中枢管控"的深度转变，能显著提升极端天气、大 面积航延、特殊突发事件等复杂场景下的特情处置与恢复能力，实现保障资源最优配置。特别是在有效 缩短快速过站航班保障时间、高质量完成地面保障任务、重点航班重点监控、过站时间不足航班保障、 提升中转旅客效率等关键指标方面，提供了强有力的运行与保障支持。 《中国民航报》、中国民航网 记者钱擘 报道：1月1日，东航武汉地面运行控制中心（武汉GOC）正式 进驻运行大厅。标志着东航武汉GOC自去年7月启动筹建以来，正式进入了地面运行管控资源集中、响 应一体化的新阶段，实现了从"分散管理"到"统合联动"的新跨越。 以往，当 ...

Core Viewpoint - The aviation and airport sector experienced a slight decline of 0.2% on January 7, with CITIC Hainan Airlines leading the drop. The Shanghai Composite Index rose by 0.05%, while the Shenzhen Component Index increased by 0.06% [1]. Group 1: Stock Performance - Xiamen Airport (600897) closed at 17.72, up by 2.72% with a trading volume of 151,500 shares and a transaction value of 268 million yuan [1]. - Southern Airlines (600029) closed at 8.15, up by 0.74% with a trading volume of 448,600 shares and a transaction value of 366 million yuan [1]. - Spring Airlines (601021) closed at 59.04, up by 0.63% with a trading volume of 63,900 shares and a transaction value of 379 million yuan [1]. - China Eastern Airlines (600115) closed at 6.14, up by 0.16% with a trading volume of 873,400 shares and a transaction value of 538 million yuan [1]. - China National Aviation (601111) closed at 9.15, down by 0.54% with a trading volume of 581,300 shares and a transaction value of 534 million yuan [2]. Group 2: Capital Flow - The aviation and airport sector saw a net outflow of 247 million yuan from institutional investors, while retail investors contributed a net inflow of 184 million yuan [2]. - Xiamen Airport had a net inflow of 41.95 million yuan from institutional investors, accounting for 15.68% of its total trading [3]. - Shanghai Airport experienced a net inflow of 28.87 million yuan from institutional investors, representing 7.73% of its total trading [3]. - China Eastern Airlines had a net outflow of 21.72 million yuan from institutional investors, with retail investors contributing a net inflow of 13.25 million yuan [3].

Core Viewpoint - The aviation industry is expected to see a significant recovery in passenger turnover and profitability by 2025, with a projected passenger turnover of 1,099 billion person-kilometers in November 2025, representing an 18.2% increase compared to 2019 and a 9.6% increase compared to 2024 [1]. Aviation Passenger Transport Key Data - Demand: In November 2025, domestic passenger turnover (excluding regional) is projected to be 809 billion person-kilometers, up 19.6% from 2019 and 6.3% from 2024. International and regional passenger turnover is expected to reach 291 billion person-kilometers, reflecting a 14.5% increase from 2019 and a 19.9% increase from 2024 [1]. - Supply: The available seat kilometers in November 2025 are projected to be 1,283 billion, up 12.4% from 2019 and 6.4% from 2024. The passenger load factor is expected to be 85.7%, an increase of 4.2 percentage points from 2019 and 2.5 percentage points from 2024 [2]. - Ticket Prices: In November, the average full ticket price for domestic routes is expected to rise by 3.5% year-on-year, while the bare ticket price is expected to increase by 3.8% [2]. - Performance of Listed Airlines: In November, the year-on-year RPK changes for major airlines on domestic routes are as follows: China Southern +7.4%, Air China +7.4%, China Eastern +5.1%, Hainan Airlines +4.5%, Spring Airlines +17.9%, and Juneyao Airlines +0.8%. The ASK changes for these airlines are +5.4%, +3.8%, +2.1%, +2.8%, +16.3%, and -0.5% respectively [2]. Air Cargo Key Data - In November 2025, the number of international and regional cargo flights is expected to reach 15,977, reflecting a 12.4% increase month-on-month and a 14% increase year-on-year. The theoretical cargo capacity is projected to be 110 million tons, with an 8.2% month-on-month increase and a 12.2% year-on-year increase [3]. - The average TAC Shanghai outbound air freight price index is expected to be 5,469 points, reflecting a 1.5% month-on-month increase and a 16.2% year-on-year increase [3]. Investment Perspective - The increase in holiday time and significant year-on-year growth in industry volume and price suggest a positive outlook for Q1 spring travel performance. The recent seven-day passenger flow shows a year-on-year increase of 12.9%, with domestic passenger flow up 13.7% and bare ticket prices up 7.9% [4]. - The industry is expected to benefit from supply-demand recovery, improved oil and exchange rate conditions, and a clear trend of profitability recovery. The fourth quarter is anticipated to see a significant reduction in losses due to demand growth and stabilized ticket prices, with 2025 expected to be the first year of profitability for major airlines [4]. - Recommended stocks include Air China (601111), China Southern Airlines (600029), Juneyao Airlines (603885), Spring Airlines (601021), and Huaxia Airlines (002928), with a suggestion to pay attention to China Eastern Airlines (600115) [4].

资料显示，中国东方航空股份有限公司位于上海市闵行区虹翔三路36号,香港金钟道95号统一中心19楼D 室，成立日期1995年4月14日，上市日期1997年11月5日，公司主营业务涉及航空客、货、邮、行李运输 业务及延伸服务;通用航空业务;航空器维修;航空设备制造与维修;国内外航空公司的代理业务。主营业 务收入构成为：客运服务收入92.50%，货运服务收入3.86%，退票费手续费收入1.74%，其他1.28%，地 面服务收入0.62%。 截至9月30日，中国东航股东户数14.99万，较上期减少3.37%；人均流通股0股，较上期增加0.00%。 2025年1月-9月，中国东航实现营业收入1064.14亿元，同比增长3.73%；归母净利润21.03亿元，同比增 长1623.91%。 分红方面，中国东航A股上市后累计派现32.96亿元。近三年，累计派现0.00元。 来源：新浪证券-红岸工作室 1月6日，中国东航涨1.32%，成交额13.73亿元。两融数据显示，当日中国东航获融资买入额4340.60万 元，融资偿还5783.84万元，融资净买入-1443.23万元。截至1月6日，中国东航融资融券余额合计3.07亿 元。 ...

Core Insights - The aviation and airport sector saw a 0.5% increase on January 6, with Juneyao Airlines leading the gains [1] - The Shanghai Composite Index closed at 4083.67, up 1.5%, while the Shenzhen Component Index closed at 14022.55, up 1.4% [1] Stock Performance - Juneyao Airlines (603885) closed at 15.26, up 3.32% with a trading volume of 252,100 shares and a turnover of 379 million yuan [1] - China Eastern Airlines (600115) closed at 6.13, up 1.32% with a trading volume of 2,259,400 shares and a turnover of 1.373 billion yuan [1] - Shenzhen Airport (000089) closed at 7.05, up 1.15% with a trading volume of 135,900 shares and a turnover of 95.385 million yuan [1] - Shanghai Airport (600009) closed at 32.97, up 0.83% with a trading volume of 121,000 shares and a turnover of 398 million yuan [1] - Xiamen Airport (600897) closed at 17.25, up 0.29% with a trading volume of 73,800 shares and a turnover of 12.7 million yuan [2] Capital Flow - The aviation and airport sector experienced a net outflow of 146 million yuan from institutional investors, while retail investors saw a net inflow of 10.53 million yuan [2] - Major stocks like Juneyao Airlines and Shanghai Airport attracted significant net inflows from retail investors, while others like Xiamen Airport and Spring Airlines faced net outflows [3]