Group 1 - The core viewpoint of the article highlights the resilience of airline stocks in the market, with specific gains noted for major airlines such as China Eastern Airlines, China Southern Airlines, and Air China [1] - As of December 16, both onshore and offshore RMB against the US dollar strengthened, with the offshore RMB breaking through 7.04 and reaching a high of 7.03725, marking the highest level since October 4, 2024 [1] - The passenger load factors for the three major airlines during the off-peak season remain strong, with China Eastern Airlines reporting an 87.37% load factor in November, up 3.04 percentage points year-on-year; China Southern Airlines at 86.29%, up 1.36 percentage points; and Air China at 83.3%, up 4 percentage points [1] Group 2 - Huatai Securities' research report indicates that short-term market attention may be low due to the difficulty in generating catalysts from off-peak high-frequency data, with a greater focus on the performance of the Spring Festival travel data in 2026 [1] - The long-term outlook for the industry suggests that supply growth will remain low, which may lead to improved ticket prices, while lower oil prices and a favorable RMB to USD exchange rate could alleviate cost pressures and enhance airline profitability [1] - The report recommends prioritizing state-owned airlines with high success rates and high returns, specifically the three major state-owned airlines, followed by other private airlines [1]
港股异动 | 航空股逆市上扬 油价、汇率有助航司降本 三大航淡季客座率仍较为强势