航空运输板块迎春运红利 多只基金“提前介入”航司股

Core Viewpoint - The 2026 Spring Festival travel season has begun, leading to increased demand in the aviation sector, with airlines showing improved performance and public funds benefiting from early investments [1][2]. Group 1: Spring Festival Travel Demand - The Spring Festival travel season started on February 2, 2026, with strong demand for air travel, expected to reach 95 million passengers during the period, with a daily average of 19,400 flights, a 5% year-on-year increase [2][6]. - On the first day of the Spring Festival, the Civil Aviation Administration of China reported 19,080 flights and 2.19 million passengers, marking a 3.8% increase compared to the same day in 2025 [2][6]. Group 2: Airline Performance Improvement - Major airlines are expected to report significant improvements in their financial performance, with China Eastern Airlines projecting a profit of 200 to 300 million yuan for 2025, and Southern Airlines also expected to turn a profit [3][6]. - China Eastern Airlines anticipates a 10.82% increase in total transport turnover and a 6.68% increase in passenger transport volume for 2025 [3]. Group 3: Fund Performance and Investment Strategy - Several public funds that invested in the aviation sector in Q4 2025 have seen substantial returns, with some funds reporting net value growth rates exceeding 8% since the beginning of the year [1][4]. - Fund managers have strategically increased their holdings in key airlines, with notable increases in shares of China Eastern Airlines and Southern Airlines [4][5]. Group 4: Long-term Outlook for the Aviation Sector - The aviation sector is expected to benefit from sustained demand recovery, supply-side optimization, and steady improvement in corporate profitability, supporting valuation recovery [6]. - The investment value of the aviation sector is highlighted by three factors: steady recovery in domestic travel demand, clear performance turning points for airlines, and reasonable historical valuation levels [6].