都说民航是"看天吃饭"的行业，航司能不能赚钱，就和天气一样难预测。 行业的整体盈利有多薄？国际航协 （IATA）有个令人咋舌的比喻：苹果公司卖一个iPhone手机壳，都 比航空公司运一名客人赚得多——后者平均利润只有7.9美元。 薄利是全球航空业的共同现实，而对于刚走出多年亏损阴影的中国航司巨头来说，挑战显得尤其严峻。 2020年至2024年，国航、东航和南航累计亏损高达2064亿元。直到今年三季度末，三大航才终于"咸鱼 翻身"，前三季度合计盈利62.8亿元。 但全年下来能否盈利？仍然存在变数。 环球旅讯特约评论员高思伟指出，今年前三季度的整体盈利，很大程度上依赖第三季度的强劲表现，其 实是"用Q3旺势，填平Q1和Q2的亏损"。 2025年暑运期间，全国民航平均客座率达到约84.8%的高位，反映出旺季国内出行需求强劲。 在这一背 景下，国内航线的市场定价能力有所修复，高峰时段主要干线的票价也呈现一定支撑。 也正因为如此，三季度的盈利更像一次"结构性修复"，而非单点运气。 其中，国内市场的作用并不在于创造高利润率，而在于通过高客座率和规模化运行，在旺季阶段形成了 可留存的现金流与利润基础。 真正的考验，集中在第 ...

Core Viewpoint - The opening of Jiaxing Nanhu Airport marks the establishment of a new airport in the Yangtze River Delta, focusing on both passenger and cargo transport, with a primary emphasis on cargo operations [5][6]. Group 1: Airport Operations - Eastern Airlines, Southern Airlines, and Changlong Airlines have commenced operations at Jiaxing Nanhu Airport, with initial flights to cities including Guangzhou, Shenzhen, Chengdu, and Changchun [1][5]. - The airport features a terminal area of 25,900 square meters and has a flight area classification of 4E, with 56 parking positions, of which 33 are dedicated to cargo [5]. Group 2: Cargo Focus - Jiaxing Nanhu Airport is positioned as a professional air cargo hub, with a planned annual passenger throughput of 1.8 million and a cargo throughput of 1.1 million tons [5]. - YTO Express is expected to play a significant role in the airport's cargo operations, having established a global logistics hub at the airport and collaborating with the Jiaxing government to develop surrounding logistics infrastructure [5][6]. Group 3: Regional Connectivity - The airport's strategic location allows for a one-hour connection to major cities in the Yangtze River Delta, enhancing regional logistics and transportation efficiency [6][8]. - The airport is designed to support a multi-modal transport system, facilitating access to international markets within 10 hours [6]. Group 4: Comparison with Suzhou - Suzhou, despite its economic prominence, lacks its own airport, with ongoing discussions and planning since 2018 failing to yield results, while other airports in the region are advancing [10][11]. - The development of Jiaxing Nanhu Airport may alleviate some of the transportation pressures in the region, as it provides an alternative for Suzhou residents [8][10].

Core Viewpoint - The aviation and airport sector experienced a slight increase of 0.17% on December 25, with significant contributions from airlines like Juneyao Airlines, while the overall market indices also showed positive movements [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3959.62, up by 0.47%, and the Shenzhen Component Index closed at 13531.41, up by 0.33% [1]. - Juneyao Airlines led the aviation sector with a closing price of 14.08, reflecting a rise of 1.51% [1]. - Other notable performers included CITIC Offshore Helicopter and Spring Airlines, both showing increases of 1.51% and 1.46% respectively [1]. Group 2: Stock Performance and Trading Volume - The trading volume for Juneyao Airlines was 201,600 shares, with a transaction value of 285 million yuan [1]. - China Southern Airlines and China Eastern Airlines remained stable, with no change in their stock prices, while Shanghai Airport and Air China saw minor increases of 0.39% and 0.46% respectively [1]. - The overall trading volume in the aviation sector indicated a mixed performance, with some stocks experiencing declines [2]. Group 3: Capital Flow Analysis - The aviation sector saw a net outflow of 336 million yuan from institutional investors, while retail investors contributed a net inflow of 388 million yuan [2]. - The capital flow data indicated that Shanghai Airport had a net inflow of 27.85 million yuan from institutional investors, despite a net outflow from retail and speculative investors [3]. - Conversely, Air China experienced significant net outflows from institutional investors amounting to 60.80 million yuan, while retail investors showed a net inflow of 65.73 million yuan [3].

虹桥机场在隔离区内设置了专属服务点位，如旅客在隔离区内发出签转申请，机场相关保障单位将提供 跨航司行李签转服务，实现行李同步签转的无缝衔接。沪渝快线跨航司自愿签转服务推出后，虹桥机场 成为国内唯一同时在京沪、沪深、沪渝三大枢纽航线上实现跨航司签转的机场，"虹桥快线"服务范围进 一步拓展，为跨航司协同合作搭建了更加广阔的平台，机场、航司共同携手提升旅客航空出行服务体 验。 据悉，虹桥机场沪渝快线当前日均计划往返航班量达到32班，2025年预计运输旅客超183万人次。（编 辑：许浩存 校对：陈虹莹 审核：程凌） 《中国民航报》、中国民航网 记者钱擘 通讯员尚机轩 报道：12月22日，虹桥机场的沪渝快线跨航司自 愿签转服务上线，并在国内机场首次实现隔离区内、有托运行李的跨航司签转，更好满足长三角与成渝 地区间商务及高频出行旅客的航空出行需求。 这一服务是在民航局运输司、民航华东地区管理局、民航西南地区管理局指导下，上海虹桥机场、重庆 江北机场联合东航、国航、吉祥航、厦航共同推出的。 乘坐东航、国航、厦航或吉祥航承运的"上海虹桥—重庆江北"航班，且购买经济舱6折（含）以上舱位 （含超级经济舱、公务舱，限同物理舱位等级 ...

Group 1 - China Eastern Airlines (CEA) was awarded the "2025 Annual Excellent Public Relations Case" for its initiative "Walking into the Border Areas" which builds cross-cultural communication bridges through micro-narratives [1] - CEA has been optimizing its flight network, leveraging Kunming as a unique aviation hub in Southwest China, and increasing flight frequency to destinations like Lincang, Cangyuan, and Shangri-La to support local industry transformation and tourism development [3] - The airline has hosted the "Walking into the Border Areas - The Colorful Yunnan from an Outside Perspective" event for two consecutive years, showcasing the happiness of people in the border regions and making themes like "border revitalization" and "ethnic unity" more relatable and impactful in international discourse [3] Group 2 - CEA is enhancing its aviation connectivity in border regions by establishing branches in Northeast and Xinjiang, aligning with its strategic direction of flying to distant, international, and emerging markets [4] - The airline aims to construct an "aerial bridge" that supports China's modernization efforts, using its flight services to present a strong, united, and vibrant image of contemporary China’s border areas [4] - Through the "Aviation+" narrative system, CEA connects flights with broader storytelling to illustrate a credible, lovable, and respectable image of China to the world [4]

近年来，东航江苏公司围绕行业高质量发展，依托公司战略人才库持续推进课题研究。"十四五"期间， 公司共完成20余份（项）课题报告和专题汇报材料，被中国东航、江苏省政府、中国民用航空局有关单 位录用、采纳的超过10份（项），并被以上单位表彰5次，体现了公司在交通运输领域的科研实力与成 果转化能力。（编辑：陈虹莹 校对：许浩存 审核：程凌） 《中国民航报》、中国民航网 记者胡夕姮 通讯员孙金禄 报道：12月20日，在江苏省综合交通运输学会 （协会）二届四次理事会扩大会上，东航江苏公司申报的"大中型航空公司数字化转型关键技术研究与 实践"研究项目荣获2025年江苏省综合交通运输学会科学技术一等奖。这是江苏民航单位首次获得该奖 项。 （东航江苏公司供图） 该项目于2025年初确定为东航江苏公司年度重点申报课题。公司组织专项研究团队齐心协力、系统推 进。在全省申报的105个受理项目中，该项目经过多轮评审最终脱颖而出，获得一等奖。项目团队在公 司的指导支持下，克服各项困难，集中攻坚，完成了关键技术研究工作。 ...

该项评选历经数月的征集、评审与调研，由新京报零碳研究院联合清华大学经管学院中国工商管理案例 中心共同评定。近年来，面对民航业日益严格的环保挑战，东航运控中心积极响应国家绿色发展号召， 通过数据驱动减重、管理助推节油等一系列精细化、科学化的管理手段，实现了节能减排的显著效果， 不仅有效降低航班运行成本，更为保护地球环境、推动可持续发展作出贡献。（编辑：许浩存 校对： 陈虹莹 审核：程凌） 《中国民航报》、中国民航网 记者钱擘 报道：在近日于北京举办的"2025年度绿色发展论坛"上，东航 运行控制中心的"精微之处见蓝天，飞机减重节油管理助推航空业绿色发展"项目，成功入选论坛"2025 年度绿色发展优秀案例"。 ...

Core Viewpoint - China Eastern Airlines experienced a decline of 1.91% in stock price on December 23, with a trading volume of 616 million yuan, indicating market volatility and investor sentiment towards the airline sector [1]. Financing Summary - On December 23, China Eastern Airlines had a financing buy-in amount of 25.80 million yuan, with a net financing buy of 9.93 million yuan after accounting for repayments [1]. - The total financing and securities balance for China Eastern Airlines reached 327 million yuan, with the financing balance at 321 million yuan, representing 0.33% of the circulating market value, which is below the 10th percentile level over the past year, indicating a low financing level [1]. - In terms of securities lending, the company repaid 180,600 shares and sold 24,500 shares, with the selling amount calculated at 138,400 yuan, while the securities lending balance stood at 614,440 yuan, exceeding the 90th percentile level over the past year, indicating a high level of short selling [1]. Company Profile - China Eastern Airlines, established on April 14, 1995, and listed on November 5, 1997, is headquartered in Shanghai and primarily engages in passenger and cargo transportation, general aviation, aircraft maintenance, and related services [2]. - The company's revenue composition includes 92.50% from passenger services, 3.86% from cargo services, 1.74% from ticket refund fees, 1.28% from other services, and 0.62% from ground services [2]. - As of September 30, 2025, the company reported total operating revenue of 106.41 billion yuan, a year-on-year increase of 3.73%, and a net profit attributable to shareholders of 2.10 billion yuan, reflecting a significant year-on-year growth of 1623.91% [2]. Dividend and Shareholding Information - Since its A-share listing, China Eastern Airlines has distributed a total of 3.30 billion yuan in dividends, with no dividends paid in the last three years [3]. - As of September 30, 2025, the top ten circulating shareholders included China Securities Finance Corporation with 430 million shares, unchanged from the previous period, and Hong Kong Central Clearing Limited with 295 million shares, which decreased by 5.45 million shares compared to the previous period [3].

Group 1 - The aviation industry is experiencing a surge in international flight openings as companies prepare for the year-end travel peak, with Shenzhen Airlines launching a new route from Shenzhen to Melbourne, marking the 14th international passenger route for Shenzhen Airport this year [1] - Shenzhen Airport has seen a significant increase in passenger traffic, with over 6 million people passing through in the first 11 months of the year, surpassing the total of 5.5 million for the entire previous year, indicating a historical high for the same period [1] - The new international routes are expected to attract more travelers during the upcoming New Year holiday, with the airport's international and regional passenger destinations exceeding 60 [1] Group 2 - Several airlines have recently launched new international routes, including China Southern Airlines with routes to Madrid and Darwin, Hainan Airlines to Ho Chi Minh City, and China Eastern Airlines to Auckland and Buenos Aires, reflecting a strategic move to capitalize on the year-end travel season [2] - Online travel platforms report a 25% year-on-year increase in international flight bookings, with the number of reachable cities globally increasing by 149 compared to the same period last year [2] - There is a notable increase in flight bookings for popular destinations such as Egypt, Spain, and New Zealand, with some routes experiencing a doubling in ticket reservations [2]

中新网重庆12月23日电 (梁钦卿)记者23日从重庆江北国际机场获悉，"渝沪快线"跨航司自愿签转服务22 日正式上线运行。 自12月22日起，乘坐东航、国航、厦航或吉祥航空承运的"重庆江北—上海虹桥"双向航班，且购买经济 舱6折(含)以上舱位(含超级经济舱、公务舱，限同物理舱位等级)的旅客，可在原购票航班当日起飞前， 签转至原航班起飞时间前后4小时(含)内同航段其他参与航司航班。同一客票首次签转免收变更费。 据悉，"渝沪快线"日均计划往返航班量达到32班，预计2025年该航线运输旅客将超过183万人次，在服 务两地人员往来、经济发展、文化交流等方面发挥重要作用。(完) 这一创新服务是由重庆江北国际机场、上海虹桥国际机场联合东航、国航、厦航、吉祥航空共同推出， 旨在进一步提升国内航空快线服务品质，更好满足成渝地区与长三角地区间商务旅客及高频出行人群的 灵活、高效出行需求。 与此前上线的京广、京沪、深沪国内航空快线跨航司签转服务相比，"渝沪快线"首次实现隔离区内、有 托运行李旅客的跨航司签转，进一步拓展了签转服务场景，提高旅客出行选择灵活性，增强航空出行竞 争力。 重庆江北国际机场和上海虹桥国际机场在隔离区内均设 ...