残疾人运动员使用的运动轮椅顺利装卸 东航工作人员服务旅客下机（本文图片均由东航烟台基地提供） 旅客下机时，东航工作人员已早早等候在廊桥口，他们与乘务长顺利交接，搀扶旅客有序搭乘轮椅下 机，并引导、协助旅客至行李转盘处提取托运行李，全程陪护，直至旅客乘车离开机场。（编辑：许浩 存 校对：陈虹莹 审核：韩磊） 《中国民航报》、中国民航网 记者钱擘 通讯员王志恒、何冠霖 报道：8月31日，东航烟台基地顺利完 成一项残疾人运动员特殊旅客团队的保障任务，通过细致周到的服务与高效的团队协作，赢得了旅客的 高度认可。 该团队共11名旅客，包括2名教练员与9名残疾人篮球运动员，搭乘MU6362（昆明—烟台）航班前往烟 台，计划随后与烟台市残疾人男子篮球队协同训练。 根据旅客特点，这一航班到港后，东航需提供3部客舱专用轮椅及9部舱门口交接轮椅，并完成后续相关 保障工作。同时，团队旅客所托运的轮椅，也均为定制的高价值轮椅，需轻拿轻放、妥善保管，且数量 较多，也增加了现场保障任务的难度。 当天接到保障需求的通知后，东航的客运值班经理第一时间上报烟台现场管控，并协调机场货运、旅客 服务部等相关单位，联合制定专项保障预案，明确职责分工 ...

Core Viewpoint - The A-share listed airlines have shown steady revenue growth in the first half of 2025, with state-owned airlines reducing losses significantly while private airlines achieved profitability, marking a notable turnaround in the industry [1][4]. Financial Performance of Major Airlines - The three major state-owned airlines (Air China, China Eastern Airlines, and China Southern Airlines) reported a combined loss of 4.77 billion yuan, a reduction of 2.008 billion yuan compared to the previous year [1][5]. - China Eastern Airlines had the least loss among the three, with a net loss of 1.431 billion yuan, a reduction of 1.337 billion yuan year-on-year [5][6]. - Revenue for the three major airlines increased significantly, with Air China reporting 80.757 billion yuan (up 1.6%), China Eastern Airlines at 66.822 billion yuan (up 4.09%), and China Southern Airlines at 86.291 billion yuan (up 1.77%) [4][5]. International Operations and Capacity - China Eastern Airlines expanded its international operations, opening 14 new international routes and restoring flight numbers to over 110% of 2019 levels [5][6]. - The international passenger capacity for China Eastern Airlines increased by 24.38%, while domestic capacity rose by 1.07% [6]. - The three major airlines saw significant growth in international passenger turnover, with China Eastern Airlines at 28.74%, China Southern Airlines at 25.88%, and Air China at 16.99% [6]. Cost Control Measures - China Eastern Airlines implemented a "cost hard battle" plan, focusing on detailed cost management, which resulted in an 8.08% decrease in fuel costs and a 26.89% reduction in financial expenses [9][10]. - Air China also emphasized cost control, reducing major costs such as fuel and operational expenses, leading to a financial expense reduction of 9.36% [9][10]. Performance of Private Airlines - Private airlines such as Spring Airlines, Juneyao Airlines, Huaxia Airlines, and Hainan Airlines achieved profitability, with Spring Airlines leading with a net profit of 1.169 billion yuan [1][10]. - Spring Airlines has maintained its profitability for two consecutive years, with net profits of 2.257 billion yuan in 2023 and 2.273 billion yuan in 2024 [10]. Market Conditions and Challenges - The average domestic economy class ticket price fell by 6.9% year-on-year in the first half of 2025, indicating pressure on pricing [11]. - The recovery of international routes has not yet reached pre-2019 levels, posing challenges for the three major airlines to achieve profitability [11].

Core Viewpoint - The article highlights the financial performance of China's major airlines during the first half of 2025, indicating that while state-owned airlines continue to incur losses, they have significantly reduced their losses, whereas private airlines have achieved profitability, showcasing a contrasting trend in the industry [1][4]. Group 1: Financial Performance of Major Airlines - The three major state-owned airlines (Air China, China Eastern Airlines, and China Southern Airlines) reported a combined loss of 4.77 billion yuan, which is a reduction of 2.008 billion yuan compared to the previous year [1][4]. - China Eastern Airlines had the least loss among the three, with a net loss of 1.431 billion yuan, a reduction of 1.337 billion yuan year-on-year [4]. - In contrast, four private airlines (Spring Airlines, Juneyao Airlines, China United Airlines, and Hainan Airlines) achieved profitability, with Spring Airlines leading with a net profit of 1.169 billion yuan [1]. Group 2: Revenue Growth and Cost Control - All three major airlines experienced revenue growth, with Air China reporting 80.757 billion yuan (up 1.6%), China Eastern Airlines at 66.822 billion yuan (up 4.09%), and China Southern Airlines at 86.291 billion yuan (up 1.77%) [4]. - The international operations of these airlines have been a significant factor in their revenue recovery, with China Eastern Airlines increasing its international passenger capacity by 24.38% and achieving a 28.74% increase in international passenger turnover [6][4]. - Cost control measures have become crucial, with China Eastern Airlines implementing a "cost hard battle" plan, resulting in an 8.08% decrease in fuel costs and a 26.89% reduction in financial expenses [9][10]. Group 3: Market Conditions and Challenges - Despite the improvements, the three major airlines have not yet returned to profitability due to several factors, including the burden of unprofitable routes and the incomplete recovery of the international market [7][11]. - The average ticket price for domestic economy class has decreased by 6.9% year-on-year, indicating ongoing pressure on revenue [11]. - The article suggests that the major airlines face significant challenges in achieving profitability in the near term, as the domestic ticket prices remain under pressure and international routes have not fully recovered to pre-2019 levels [11].

后续，东航将持续推进AI能力班培训体系建设，每月常态化推出培训课程，同时以高素质人才梯队建 设为抓手，赋能AI技术研发与应用落地，进一步推动AI技术与东航业务场景的深度融合、创新实践。 第一期培训通过线上线下组合，吸引逾万人次参与。（编辑：陈虹莹 校对：许浩存 审核：韩磊） 《中国民航报》、中国民航网 记者钱擘 通讯员 顾懿：2025年中国东航人工智能专题系列培训班AI能力 班第一期，日前举办。 本次培训紧扣当前东航"AI+"专项工作实施的关键阶段，聚焦Deepseek等前沿大模型技术应用，培训以 人工智能发展趋势与产业应用场景解析为切入点，提升学员对AI技术的系统性认知，并引入大型央企 AI+大模型建设方案及实践，为学员深入思考挖掘公司AI场景提供参考。在实战环节，培训依托东航自 主研发的"慧燕"大模型平台，围绕知识库搭建、智能体编排等应用开发工具链，展开深入教学，指导学 员完成从场景建模到智能体的全流程搭建，为东航AI转型培育实战型技术骨干。 ...

东航在上半年的业绩表现尤为亮眼，不仅亏损最少，减亏金额也是最高的。财报显示，东航新开14条国 际地区航线，成为国际通航点最多的国内航空公司。其国际航线客运运力投入和旅客周转量分别大幅增 长了24.38%和28.74%，远超国内和地区航线。东航表示，这主要得益于公司国际经营的进一步拓展和 成本管控的成效。 面对暑期票价下滑等挑战，三大航纷纷采取措施应对。东航计划下半年开辟上海至南美航线，并加强新 兴市场的开拓；南航则将继续抓住电子新品上市和电商促销等市场机会，提升货运效益。国航也将继续 深化成本管控，扩大效益贡献。 尽管三大航在上半年取得了不错的业绩改善，但全年扭亏的目标仍然面临挑战。市场竞争的加剧、机票 价格的下滑以及国际环境的不确定性等因素都可能对三大航的业绩产生影响。因此，三大航需要继续努 力，通过优化航线网络、加强成本控制和创新产品等手段，进一步提升竞争力，实现全年扭亏的目标。 南航虽然净亏损同比有所增加，但扣除非经常性损益后的亏损同比大幅减少。南航副总经理、总会计 师、财务总监陈冬在业绩说明会上表示，这主要得益于生产经营的持续向好。南航还计划通过优化销售 节奏、开展产品创新以及抓住货运旺季效益等措施， ...

Core Viewpoint - The A-share listed airlines have shown a significant reduction in losses for the first half of 2025, with state-owned airlines still in the red but improving, while private airlines have turned profitable, indicating a contrasting performance in the industry [2][5]. Financial Performance - The three major state-owned airlines (Air China, China Eastern Airlines, and China Southern Airlines) reported a combined loss of 4.77 billion yuan, a reduction of 2.008 billion yuan compared to the previous year [2]. - China Eastern Airlines had the least loss among the three, with a net loss of 1.431 billion yuan, a reduction of 1.337 billion yuan year-on-year [3]. - The revenue for the three major airlines showed growth: Air China at 80.757 billion yuan (up 1.6%), China Eastern at 66.822 billion yuan (up 4.09%), and China Southern at 86.291 billion yuan (up 1.77%) [2]. International Operations - China Eastern Airlines expanded its international operations significantly, opening 14 new international routes and restoring flight numbers to over 110% of 2019 levels [3]. - Air China and China Southern Airlines also increased their international capacity, with Air China's international passenger capacity up 16.7% and China Southern's up 22.5% [4]. Cost Control Measures - Cost control has become a critical focus for the airlines, with China Eastern Airlines implementing a "cost hard battle" plan to manage expenses effectively [6]. - The airlines reported a decrease in fuel costs, with Air China, China Eastern, and China Southern seeing reductions of 10.34%, 8.08%, and 9.15% respectively [7]. Market Conditions - The average ticket price for domestic economy class fell by 6.9% year-on-year in the first half of 2025, indicating ongoing pressure on pricing [8]. - The recovery of international routes remains incomplete, with the overall market still facing challenges in returning to pre-pandemic levels [8].

Core Viewpoint - The A-share listed airlines have reported their 2025 semi-annual results, showing steady revenue growth among the three major state-owned airlines, despite still being in a loss position, while private airlines have achieved profitability, indicating a counter-trend breakthrough [1] Group 1: Financial Performance of Major Airlines - The three major airlines (Air China, China Eastern Airlines, and China Southern Airlines) collectively reported a loss of 4.77 billion yuan, with a reduction in losses by 2.008 billion yuan [2] - China Eastern Airlines had the least loss and the most significant reduction in losses among the three, with a net loss of 1.431 billion yuan, a decrease of 1.337 billion yuan year-on-year [3] - Revenue for the three major airlines showed notable growth: Air China reported 80.757 billion yuan (up 1.6%), China Eastern Airlines 66.822 billion yuan (up 4.09%), and China Southern Airlines 86.291 billion yuan (up 1.77%) [3] Group 2: International Operations and Capacity - China Eastern Airlines expanded its international operations significantly, opening 14 new international routes and restoring its international flight numbers to over 110% of 2019 levels [4] - The international passenger capacity for China Eastern Airlines increased by 24.38% year-on-year, while domestic capacity rose by 1.07% [4] - Air China and China Southern Airlines also increased their international capacity, with Air China seeing a 16.7% increase and China Southern Airlines a 22.5% increase [4] Group 3: Cost Control Measures - Cost control has become a crucial focus for the three major airlines, with China Eastern Airlines implementing a "cost hard battle" plan to manage expenses effectively [7] - China Eastern Airlines achieved an 8.08% reduction in fuel costs, while Air China and China Southern Airlines saw reductions of 10.34% and 9.15%, respectively [7] - Financial expenses for China Eastern Airlines decreased by 26.89% year-on-year, while Air China reduced its financial expenses by 9.36 billion yuan [7] Group 4: Performance of Private Airlines - Private airlines such as Spring Airlines, Juneyao Airlines, and others achieved profitability, with Spring Airlines reporting a net profit of 1.169 billion yuan, making it the most profitable airline in the first half of 2025 [2][8] - Spring Airlines' success is attributed to its low-cost model and strong market presence in Shanghai, which aligns well with current market conditions [8] Group 5: Market Challenges - The three major airlines face challenges in turning profitable due to factors such as unprofitable routes and the incomplete recovery of the international market, particularly in long-haul flights [5] - The average domestic economy class ticket price fell by 6.9% year-on-year in the first half of 2025, indicating ongoing pressure on pricing [9] - The recovery of international routes remains below 2019 levels, complicating the path to profitability for the major airlines [9]

针对出境旅游需求，东航开通多条国际新航线，包括上海浦东—日内瓦航线、上海浦东—米兰航线和上 海—哥本哈根新航线。此外，东航进一步加密了欧、美、澳、韩、北非等热门旅游目的地航班。目前， 东航国际及地区航线达229条，平均每周执行的国际及地区往返航班达3052班。 暑运期间，东航出入境航班创新高，共执行国际及地区航班2.7万班次、运输旅客449.2万人次，同比分 别增长9.8%、13.6%。 暑运期间东航执飞国内航线达813条，平均每周执飞国内往返航班约1.89万班，东航开通多条直飞新航 线，包括上海虹桥直飞嘉峪关、和田，南京、杭州直飞伊宁，成都—青岛、大连—鄂尔多斯、大理—深 圳等航线。 北京商报讯（记者 关子辰 牛清妍）9月1日，北京商报记者从东航获悉，暑运期间，东航及旗下航司累 计执行航班19.4万班次，服务2806万人次旅客出行，日均飞行小时8168小时，环比增幅13.3%。 作为上海最大的主基地航司，东航暑运期间在上海虹桥、浦东两场累计执行进出港航班超6.24万班次， 服务进出港旅客超1023万人次。东航11架C919今年全部投入暑运保障，其机队共执飞商业航班2258 班，承运旅客近31.2万人次，客座 ...

来源：新浪证券-红岸工作室 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。 融资方面，中国东航当日融资买入5048.53万元。当前融资余额3.83亿元，占流通市值的0.55%，融资余 额低于近一年40%分位水平，处于较低位。 融券方面，中国东航8月29日融券偿还16.07万股，融券卖出5.18万股，按当日收盘价计算，卖出金额 21.08万元；融券余量34.17万股，融券余额139.07万元，低于近一年40%分位水平，处于较低位。 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91.95%，货运服务收入4.04%，其他(补充)2.17%，退票费手续费收入 1.85%。 截至6月30日，中国东航股东户数15.51万，较上期减少11.06%；人均流通股0股，较上期增加0.00%。 2025年1月-6月，中 ...

Core Insights - The aviation and airport sector experienced a decline of 0.94% on September 1, with Huaxia Airlines leading the drop [1] - The Shanghai Composite Index closed at 3875.53, up 0.46%, while the Shenzhen Component Index closed at 12828.95, up 1.05% [1] Stock Performance Summary - The following stocks in the aviation and airport sector showed varied performance: - CITIC Haizhi: Closed at 24.77, up 0.20%, with a trading volume of 281,600 shares and a turnover of 695 million yuan [1] - Shanghai Airport: Closed at 32.36, up 0.12%, with a trading volume of 187,500 shares and a turnover of 608 million yuan [1] - HNA Holding: Closed at 1.59, unchanged, with a trading volume of 4.89 million shares and a turnover of 779 million yuan [1] - Xiamen Airport: Closed at 14.95, down 0.07%, with a trading volume of 26,500 shares and a turnover of 39.51 million yuan [1] - Shenzhen Airport: Closed at 7.22, down 0.55%, with a trading volume of 230,700 shares and a turnover of 166 million yuan [1] - Baiyun Airport: Closed at 9.95, down 0.60%, with a trading volume of 252,800 shares and a turnover of 252 million yuan [1] - Air China: Closed at 7.48, down 0.93%, with a trading volume of 617,800 shares and a turnover of 463 million yuan [1] - China Southern Airlines: Closed at 5.97, down 1.16%, with a trading volume of 545,400 shares and a turnover of 326 million yuan [1] - Juneyao Airlines: Closed at 12.43, down 1.35%, with a trading volume of 205,300 shares and a turnover of 256 million yuan [1] - Spring Airlines: Closed at 52.38, down 1.82%, with a trading volume of 74,000 shares and a turnover of 390 million yuan [1] Capital Flow Analysis - The aviation and airport sector saw a net outflow of 293 million yuan from institutional investors, while retail investors contributed a net inflow of 279 million yuan [2] - The following capital flows were noted for specific stocks: - HNA Holding: Net inflow of 45.64 million yuan from institutional investors, but a net outflow of 36.41 million yuan from retail investors [3] - Shenzhen Airport: Net inflow of 13.27 million yuan from institutional investors, with a net outflow of 20.78 million yuan from retail investors [3] - China Southern Airlines: Net outflow of 1.21 million yuan from institutional investors, but a net inflow of 2.78 million yuan from retail investors [3] - Xiamen Airport: Net outflow of 1.79 million yuan from institutional investors, with a net inflow of 178.71 million yuan from retail investors [3] - Huaxia Airlines: Net outflow of 3.68 million yuan from institutional investors, but a net inflow of 542.84 million yuan from retail investors [3] - Air China: Net outflow of 7.48 million yuan from institutional investors, with a net inflow of 38.94 million yuan from retail investors [3] - Juneyao Airlines: Net outflow of 7.64 million yuan from institutional investors, but a net inflow of 682.32 million yuan from retail investors [3] - Spring Airlines: Net outflow of 29.52 million yuan from institutional investors, with a net inflow of 283.88 million yuan from retail investors [3] - Baiyun Airport: Net outflow of 32.34 million yuan from institutional investors, with a net inflow of 239.79 million yuan from retail investors [3]