交通运输行业周报：日本或对华放宽签证要求

Investment Rating - The report maintains a "Buy" rating for Spring Airlines, YTO Express, and China Eastern Airlines, while recommending "Hold" for China Southern Airlines and Air China [1][1][1]. Core Insights - The report highlights potential easing of visa restrictions by Japan for Chinese citizens, which may enhance travel and economic relations between the two countries [7]. - Weekly data indicates a slight decrease in domestic flight volumes and passenger numbers, but overall recovery remains strong compared to pre-pandemic levels [8][9]. - The express delivery sector shows significant growth, with year-on-year increases in business volume and revenue, indicating a robust logistics market [16][19]. Summary by Sections Weekly Focus (12.1-12.7) - Japan is considering easing visa requirements for Chinese travelers, which could boost tourism and economic ties [7]. Industry Data Tracking (12.1-12.7) - Domestic flight volume for the week was 84,276 flights, averaging 12,039 flights per day, a decrease of 0.73% from the previous week, but 104.51% of the same week in 2019 [8]. - Domestic passenger volume reached 11.34 million, down 2.09% from the previous week, equating to 110.18% of the same week in 2019 [9]. - The average ticket price slightly decreased, with domestic average full ticket price down 0.11% compared to the previous week [8]. - The express delivery sector reported a weekly average of approximately 559 million packages collected, reflecting a 2.60% increase from the previous week [16]. Recent Key Reports - The report includes insights on the express delivery industry, highlighting a 24.0% year-on-year increase in business volume for October 2024 [19]. - The report also notes that the CR8 index for the express delivery sector remains stable, indicating a competitive yet balanced market [19].