SA(SH:601021) Mei Ri Jing Ji Xin Wen·2025-08-26 00:52Core Viewpoint - Spring Airlines issued a statement addressing false information linking normal condensation in summer cabins to cabin sales, clarifying that the condensation is a common physical phenomenon and not indicative of temperature manipulation for profit [2] Group 1: Company Operations - Spring Airlines operates as a low-cost carrier, charging for items like blankets and water, which has led to passenger complaints about cabin temperatures being too cold [4] - The airline has a fleet of 134 Airbus A320 series aircraft with an average age of 7.76 years, covering over 230 routes and transporting approximately 29 million passengers annually [7] - In 2024, Spring Airlines reported a revenue increase of 11.5% to 20 billion yuan and a net profit increase of 0.69% to 2.273 billion yuan [7][8] Group 2: Financial Performance - Compared to major airlines like Air China and China Eastern Airlines, which reported losses, Spring Airlines remains profitable with a unit cost of 0.316 yuan, down 3.3% year-on-year [8][9] - The average ticket price in the economy class has decreased by over 10% year-on-year, but Spring Airlines' revenue per passenger kilometer only declined by 6.5%, showing resilience in a competitive market [9] - In Q1 2025, Spring Airlines maintained its position as the most profitable airline in China with a net profit of 677 million yuan [9] Group 3: Cost Control Strategies - Spring Airlines employs a single aircraft model strategy, using only Airbus A320 series planes, which helps reduce costs related to maintenance and training [13] - The airline has increased seating capacity in its aircraft, allowing for more passengers without increasing operational costs significantly [14] - In 2024, Spring Airlines' auxiliary revenue reached 1.03 billion yuan, contributing 5.15% to total revenue, indicating a focus on diversifying income streams [15]