民生证券给予中国东航推荐评级，持续推进成本费用控制，国际航线经营步入新格局

Group 1 - The core viewpoint of the report is a recommendation rating for China Eastern Airlines (600115.SH) at a latest price of 3.96 yuan [1] - The reasons for the rating include limited year-on-year decline in seat revenue for Q2 2025, significant reduction in losses due to falling oil prices and excellent cost control, and limited impact of currency appreciation on half-year profits [1] - The company is strengthening its position as an international hub in Shanghai and enhancing its international route network, which will aid in improving profitability [1] - The company has adjusted its fleet planning in the semi-annual report, reducing the number of aircraft to be introduced in 2026 and 2027 [1]