SA(SH:601021) Di Yi Cai Jing·2025-11-19 07:32Core Insights - The recent increase in ticket cancellations for flights to Japan is attributed to a combination of seasonal factors and a new free cancellation policy implemented by multiple domestic airlines in response to government advisories [1][2][3] - The overall demand for travel to Japan has significantly decreased, with a reported drop of 54.3 million ticket orders since November 15, indicating over 500,000 cancellations [2] - Airlines are adjusting their flight schedules by canceling flights to Japan and reallocating capacity to destinations with higher demand, such as Southeast Asia and domestic warm-weather locations [3][5] Group 1: Ticket Cancellations and Policies - Several domestic airlines have announced free cancellation and rescheduling policies for flights to Japan, effective until December 31, 2025, following government advisories urging caution for travel to Japan [2] - Spring Airlines Japan has become the first Japanese airline to offer free cancellation for tickets purchased before November 15, 2025, for flights between November 15 and December 31, 2025 [2] Group 2: Market Trends and Adjustments - The average passenger load factor for flights to Japan has decreased, with a reported drop of 12.3 percentage points on November 18 compared to the previous week [2][3] - The number of weekly flights from mainland China to Japan has been declining, with a total of 1,189 flights recorded in the 45th week of the year, representing an 82.9% recovery rate compared to the same week in 2019 [3] - There is a notable shift in traveler preferences, with increased interest in warm-weather destinations such as Hainan, Yunnan, and Southeast Asia, as evidenced by a 13% year-on-year increase in domestic flight bookings to these regions [5]