春秋航空公告，公司与空客公司于2025年12月29日签订《飞机购买协议》，拟购买30架空客A320neo系 列飞机。根据空客公司近期公开市场平均报价，前述30架飞机的目录价格合计约为41.28亿美元，实际 对价将低于上述飞机目录价格。空客公司将于2028年至2032年分批交付上述飞机。本次交易已获公司第 五届董事会第十四次会议审议通过，尚需提交公司股东会审议及国家批准认可。 ...

今天分享的是：国际市场快速修复，行业运行稳中提质—2025年航空运输行业回顾及展望 报告共计：11页 2025年航空运输行业运行总结及2026年展望 2025年航空运输行业整体运行稳中提质，国内客货运市场稳步增长，国际业务快速修复，政策引导行业规范发展，企业经营业 绩持续改善，信用风险展望为稳定。 行业发展环境持续优化。2025年我国经济稳中有进，前三季度GDP同比增长5.2%，居民人均可支配收入实际增长5.2%，外贸进 出口同比增长4%，为航空运输业提供坚实支撑。政策层面聚焦运营效益提升与国际市场拓展，修订国际客运航权配置规则，发 布《空中丝绸之路建设发展报告》，推进"一带一路"航空合作，出台航空客运自律公约遏制恶性竞争，冬春航季加大旅游航线 与国际航班运力投放，中印航线全面复航，助力行业高质量发展。 市场运行呈现"国内稳增、国际复苏"态势。2025年前三季度，全行业完成运输总周转量1220.3亿吨公里，同比增长10.3%。客运 方面，旅客周转量达10536.5亿人公里，同比增长8.1%，其中国内航线增长4.2%，国际航线增长23.5%，已超过2019年同期水 平；旅客运输量5.82亿人次，同比增长5.2% ...

证券研究报告 | 行业周报 gszqdatemark 2025 12 28 年 月 日 交通运输 国际航线旅客周转亮眼，海外电商双十二 GMV 激增 周观点：2025 年 10 月、11 月，国际航线旅客周转量同比 2019 年同期分别 增长 12.9%、14.3%，增速加快。航班管家数据显示，截至 12 月 22 日，2026 年元旦假期经济舱平均票价（不含税）597 元，同比 2024 年下降 1.1%、同 比 2025 年增长 6.7%。继续看好"扩内需"及"反内卷"下航空板块中长期 景气度。TikTok Shop 东南亚"12.12"大促 GMV 同比飙升 2.7 倍。海外电商 GMV 的爆发式增长带动快递业务量迅猛增长，相关标的为极兔速递。 行情回顾：本周交通运输板块行业指数上涨 1.37%，跑输上证指数 0.51 个百 分点（上证指数上涨 1.88%）。从申万交通运输行业三级分类看，涨幅前三名 的板块分别为航运、公交、物流，涨幅分别为 4.70%、4.65%、1.96%；仅航 空运输、铁路运输板块下跌，跌幅分别为-0.75%、-0.73%。 出行：2025 年 1-11 月，民航旅客周转量 12, ...

证券代码：601021 证券简称：春秋航空 公告编号：2025-069 春秋航空股份有限公司 关于 2022 年非公开发行股票募集资金投资项目结项暨节余 募集资金永久补充流动资金并注销专户的公告 经中国证券监督管理委员会《关于核准春秋航空股份有限公司非公开发行 股票的批复》（证监许可[2022]300 号）的核准，春秋航空本次非公开发行 A 股 股票 62,086,092 股，发行价格为每股人民币 48.32 元，募集资金总额为人民币 2,999,999,965 元。扣除各项交易费用（不含税）后，募集资金净额为人民币 2,972,037,999 元。普华永道中天会计师事务所（特殊普通合伙）对本次非公开 发行的募集资金到位情况进行了审验，并于 2022 年 11 月 21 日出具普华永道中 天验字(2022)第 0965 号《验资报告》。公司对募集资金采取了专户存储管理。 二、本次募投项目结项及募集资金节余情况 截至本公告日，公司本次募投项目均已满足结项条件，公司决定将其予以 结项。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任 ...

南财智讯12月26日电，春秋航空公告，公司2022年非公开发行股票募集资金投资项目均已实施完毕，截 至2025年12月26日满足结项条件，决定将募投项目予以结项。具体项目包括"购置9架空客A320系列飞 机""购置1台A320飞行模拟机"和"补充流动资金"，均已达到预定可使用状态。截至2025年12月26日，募 集资金专户节余金额为2082.13万元（含利息收入及部分尚未支付的发行费用扣除手续费后净额，实际 金额以资金转出当日专户余额为准），公司拟将该节余资金永久补充流动资金。上述资金转出后，公司 将注销相关募集资金专用账户。 ...

Core Viewpoint - The aviation and airport sector experienced a 2.8% increase on December 26, with HNA Holding leading the gains, while the overall market indices showed modest increases [1]. Group 1: Market Performance - The Shanghai Composite Index closed at 3963.68, up 0.1%, and the Shenzhen Component Index closed at 13603.89, up 0.54% [1]. - HNA Holding's stock price rose by 2.27% to 1.80, with a trading volume of 10.22 million shares and a transaction value of 1.834 billion [1]. - Other notable performers included CITIC Offshore Helicopter, which increased by 1.14%, and Spring Airlines, which saw a slight increase of 0.16% [1]. Group 2: Stock Performance Summary - The table of stock performance shows various companies in the aviation sector, with HNA Holding leading in percentage increase, while several companies like China Eastern Airlines and Shanghai Airport experienced declines [2]. - The overall aviation and airport sector saw a net outflow of 313 million in main funds, while retail investors contributed a net inflow of 340 million [2]. Group 3: Fund Flow Analysis - HNA Holding had a net inflow of 18.76 million from main funds, but a net outflow of 17.27 million from retail investors [3]. - China Eastern Airlines experienced a significant net outflow of 26.35 million from main funds, while retail investors contributed a net inflow of 60.68 million [3]. - The analysis indicates that retail investors are actively participating in the market, contrasting with the outflows from institutional and speculative funds [3].

Group 1 - The core viewpoint of the article emphasizes the importance of enhancing aviation safety management through a dual approach of "regulation + support" to strengthen the safety responsibility of enterprises [1][2] - The Shanghai Civil Aviation Administration conducted a comprehensive inspection and targeted support for Spring Airlines, focusing on the investigation quality of typical unsafe events, the construction of a dual prevention mechanism, and the development of a safety culture [2] - The safety office adopted a problem-oriented and effectiveness-first principle, engaging in thorough checks of key positions in flight operations and safety management, including reviewing incident investigation reports and safety management records [2] Group 2 - Spring Airlines' management expressed commitment to using this initiative as an opportunity to comprehensively review safety management details and refine closure measures to continuously enhance safety assurance capabilities [2] - The Shanghai Civil Aviation Administration plans to deepen the "regulation + support" work mechanism and regularly conduct frontline work to synchronize regulatory effectiveness with the internal safety motivation of enterprises, aiming to create a safer travel environment for passengers [2]

| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | | 成交额(元) | | --- | --- | --- | --- | --- | --- | --- | | 603885 | 吉祥航空 | 14.08 | 1.51% | | 20.16万 | 2.85亿 | | 000099 | 中信海直 | 20.18 | 1.51% | | 12.72万 | 2.56亿 | | 601021 | 春秋航空 | 56.36 | 1.46% | | < 3.72万 | 2.08亿 | | 601111 | 中国国航 | 8.72 | 0.46% | | - 56.12万 | 4.91亿 | | 600009 | 上海机场 | 33.78 | 0.39% | | 14.50万 | 4.92亿 | | 600115 | 中国东航 | 5.62 | 0.00% | | 106.67万 | 5.99亿 | | 000089 | 深圳机场 | 7.06 | 0.00% | | 6.33万 | 4480.95万 | | 002928 | 华夏航空 | 10.96 | 0.00% | | 19.52万 | 2.14亿 ...

后该旅客找法律热线咨询，如果请律师，律师费起码2000往上。好在案情比较简单，所以旅客自己研究 尝试了自诉流程，没有请律师。 最终在庭前调解阶段，对方服软。同意赔偿由航班取消带来的一切损失+上诉导致的所有费用。 据民航观察观察，有旅客发帖表示起诉 春秋航空 后，在庭前调解阶段，春秋航空同意赔偿相关损失。 该旅客称，春秋航空航班在起飞前24小时内被通知因公司原因取消。春秋航空从300元优惠券换成300元 现金，再一路挤牙膏到1000元现金补偿（含退票费用）。 之后该旅客通过12345、民航局都试过投诉，根本没用。 旅客自行自诉胜诉，打破"维权难即放弃"误区，证明事实清晰的纠纷无需律师也可维权，但律师费高于 赔偿的现状，仍让多数人望而却步。 观观也建议旅客积极维权自身正当权益，有一些实操建议如下： 留存关键证据。电子机票、取消通知、客服沟通记录、改购差价及关联损失凭证（酒店、 高铁 票 等），为维权奠定基础。 分层低成本维权。先与航司协商，明确要求现金赔偿而非优惠券；仍无效再走小额诉讼，法院简易程序 诉讼费低、流程简便。 明确诉求边界。聚焦机票差价、关联不可退费用等直接损失，避免精神损害抚慰金等难获支持的诉求， ...

Investment Rating - The report maintains a "Positive" investment rating for the aviation industry [13]. Core Insights - The aviation industry is expected to experience a supply-demand mismatch, with demand trends showing a determined upward trajectory while actual supply is projected to decline. This situation is anticipated to lead to a price reversal starting in 2026, with profitability gradually improving until 2030 [3][10]. - The demand structure is diverse, comprising domestic business travel, personal travel, inbound foreign tourists, and outbound Chinese tourists. The industry is projected to maintain a compound annual growth rate (CAGR) of 4.1% from 2026 to 2028, with international demand growth outpacing domestic [8][45]. - Supply constraints are primarily driven by prolonged engine maintenance cycles and geopolitical tensions affecting aircraft manufacturing, leading to a forecasted decline in actual supply growth from 2026 to 2028 [9][25]. Summary by Sections Introduction - The aviation industry operates under a multi-factor model influenced by demand, supply, oil prices, and exchange rates. The supply is predominantly controlled by overseas manufacturers, making it a seller's market with long aircraft introduction cycles [7][25]. Demand - The demand is categorized into four segments: domestic business (42%), domestic personal travel (35%), inbound foreign tourists (17%), and outbound Chinese tourists (6%). The demand is expected to show resilience against economic fluctuations, with a projected CAGR of 4.1% from 2026 to 2028 [8][45]. Supply - The supply side is constrained by extended engine maintenance cycles, which are expected to triple starting in 2025, leading to a decrease in available aircraft. The net introduction of new aircraft is anticipated to remain low, with a compound growth rate of approximately 2.6% over the next three years [9][25]. Investment Opportunities - The report suggests focusing on investment opportunities in major airlines such as China National Aviation (H+A), Spring Airlines, Huaxia Airlines, and Juneyao Airlines, as the industry prepares for a cyclical recovery driven by improving supply-demand dynamics and potential cost reductions in oil and exchange rates [3][10].