Zheng Quan Ri Bao·2025-06-20 16:43Core Viewpoint - The recent data from major airports in Shanghai, Shenzhen, and Guangzhou indicates a continued growth in passenger throughput, particularly in international routes, which is a significant driver for performance recovery [1][2] Group 1: Passenger Traffic Growth - In May, Shanghai Airport reported a passenger throughput of 7.0742 million, a year-on-year increase of 13.03%, with international passenger traffic growing by 25.8% [2] - Shenzhen Airport recorded a passenger throughput of 5.5387 million, up 15.67%, with international routes seeing a substantial increase of 30.99% [2] - Guangzhou Baiyun Airport had a passenger throughput of 6.8636 million, a 14.27% increase, with international passenger traffic rising by 19.87% [2] Group 2: Factors Driving Growth - The combination of the "Labor Day" and "Dragon Boat Festival" holidays in May led to a surge in travel demand, supported by stable flight availability [1] - The implementation of visa-free policies and payment conveniences for inbound travelers has enhanced the attractiveness of China as a travel destination [1][2] Group 3: Financial Performance Improvement - Shanghai Airport's revenue for 2024 is projected to be nearly 12.4 billion, a 12% increase, with net profit expected to reach 2 billion, doubling year-on-year [3] - In Q1 2025, Shanghai Airport reported revenues exceeding 3 billion and net profits over 500 million, reflecting a nearly 35% year-on-year growth [3] Group 4: Challenges and Strategic Responses - Despite the recovery in passenger throughput, international passenger numbers and duty-free sales have not fully returned to pre-2019 levels, impacting overall performance [3] - Airports are focusing on enhancing connectivity with international hubs and expanding routes to Southeast Asia, the Middle East, and other regions to recover international passenger volumes [4] - Airports are also encouraged to improve service quality and explore non-aeronautical revenue streams such as retail and dining to boost profitability [4]