Air China(SH:601111) Shang Hai Zheng Quan Bao·2025-11-17 19:48Core Viewpoint - In October 2025, China International Airlines reported an increase in passenger turnover and capacity, indicating a positive trend in operational performance compared to the previous year [1][2]. Group 1: Operational Data - The consolidated passenger turnover (measured in revenue passenger kilometers) increased by 8.7% year-on-year [1]. - Passenger capacity (measured in available seat kilometers) rose by 4.3% year-on-year [1]. - Domestic passenger capacity increased by 3.2%, with a corresponding turnover increase of 5.5% [1]. - International passenger capacity saw a 7.5% increase, with turnover rising by 17.6% [1]. - Regional passenger capacity grew by 0.6%, with a turnover increase of 7.7% [1]. - The average passenger load factor reached 85.3%, up by 3.4 percentage points year-on-year [1]. - Domestic routes experienced a load factor increase of 2.0 percentage points, while international routes saw a rise of 7.0 percentage points [1]. Group 2: Cargo Operations - Cargo capacity (measured in available cargo ton kilometers) decreased by 0.9% year-on-year [1]. - Cargo and mail turnover (measured in revenue cargo ton kilometers) increased by 3.1% year-on-year [1]. - The cargo load factor was reported at 38.9%, up by 1.5 percentage points year-on-year [1]. Group 3: Fleet and Route Expansion - As of October 2025, the group introduced 4 A320 series aircraft and 1 B737 series aircraft, while retiring 1 A330 series and 1 A320 series aircraft [2]. - The total fleet size reached 949 aircraft, comprising 417 owned, 238 financed leased, and 294 operational leased [2]. - New routes added include flights from Hangzhou to Hanoi, Beijing to Panzhihua, and several others, enhancing the operational network [2].