Group 1 - The three major Hong Kong airline stocks have risen, with China Eastern Airlines up nearly 7%, China National Aviation up 5%, and China Southern Airlines up over 3% [1] - According to Huatai Securities, the demand for civil aviation improved in September, leading to a year-on-year recovery in ticket prices. The average oil-inclusive price for domestic economy class tickets increased by 1.5% during weeks 36-39 (September 1-28), compared to a decline of 6.5% during the summer travel season [1] - Despite a 3.3% year-on-year increase in passenger volume during the Mid-Autumn and National Day holidays, the growth rate slowed compared to the 11.8% increase during the May Day holiday. However, the average oil-inclusive ticket price increased by 0.3%, indicating stable performance [1] Group 2 - The industry is expected to see a continued recovery in revenue levels in Q4, driven by low supply growth, reduced internal competition, and a low base effect. Long-term industry prospects are anticipated to improve [1] - Airport companies' non-aeronautical revenue growth is generally lower than traffic growth, indicating a need to enhance traffic monetization capabilities. Mid-term focus should be on airport capital expenditure cycles and their impact on profitability [1] - China Eastern Airlines reported an 8.72% year-on-year increase in passenger turnover for August, while China Southern Airlines reported a 5.97% increase in passenger turnover and a 5.48% increase in cargo turnover for the same month [2]
港股异动丨三大航空股拉升 东航涨近7%、国航涨5% 券商指行业景气有望持续改善