民航业客货两旺韧性增强

Core Insights - The civil aviation industry in China achieved record highs in both passenger and cargo transport in 2025, with significant improvements in operational efficiency and integration with tourism [1][2][3] Passenger Transport Growth - In 2025, the total transport turnover reached 1,640.8 billion ton-kilometers, with passenger transport volume at 770 million, reflecting year-on-year growth of 10.5% and 5.5% respectively [2] - The growth in passenger transport is driven by the recovery and upgrading of consumer demand, supported by government initiatives to stimulate consumption and reduce travel costs [2][3] - The increase in demand for quality and personalized travel experiences, including family trips and events, has further expanded the aviation market [2] Operational Efficiency and Service Quality - The flight punctuality rate exceeded 90% in 2025, with major airports achieving a bridge access rate of 85.8% [3] - The cancellation of paper travel itineraries and the implementation of full luggage tracking services have improved service quality [3] - International flights have rebounded to over 90% of 2019 levels, with international passenger transport volume increasing by 21.6% [3][4] Cargo Transport Demand - The civil aviation sector achieved a cargo and mail transport volume of 1,017.2 million tons in 2025, marking a year-on-year increase of 13.3% [5] - Domestic and international cargo transport volumes grew by 7.3% and 22.1% respectively, with international market share rising to 44% [5] - The growth in cargo transport is attributed to strong demand for high-time-sensitive goods and innovations in logistics and management [5] Low-altitude Economy Development - The low-altitude economy saw significant growth, with general aviation flights totaling 1.218 million hours and the number of registered drones surpassing 3.28 million [5][6] - The establishment of a comprehensive low-altitude flight service network is underway, with 46 service stations built and connected across 23 provinces [6] Market Potential and Future Outlook - In 2026, the civil aviation industry aims to achieve a transport turnover of 1,750 billion ton-kilometers, passenger transport of 810 million, and cargo transport of 1,070 million tons [7] - The industry will focus on enhancing domestic air routes, developing differentiated service products, and promoting integrated transport solutions [7] - The civil aviation sector is set to accelerate its digital and green transformation, incorporating AI and sustainable aviation fuel initiatives [7] Low-altitude Economic Strategy - The development of low-altitude economic infrastructure is prioritized, with plans for comprehensive regulatory platforms and urban air traffic facilities [8] - The establishment of 50 low-altitude flight service stations is expected, enhancing digital management of flight operations [8]