交通运输行业周报：春节假期国内出游人次达4.74人次，民航量价表现坚挺

Investment Rating - The report maintains an "Overweight" rating for the transportation industry [3] Core Views - During the Spring Festival holiday, domestic travel reached 474 million trips, a year-on-year increase of 34.3%, and a 19.0% increase compared to the same period in 2019 [11] - The civil aviation market saw a record passenger transport volume of 17.99 million during the Spring Festival, with a daily average of 2.25 million, marking a 25.1% increase from 2019 and a 74.8% increase from 2023 [11] - The express logistics sector experienced significant growth, with 1.079 billion packages collected during the Spring Festival, a 145.2% increase from 2023 [12] - The shipping sector showed positive trends, with the BDTI index at 1341 points, up 5.8% week-on-week, and the BDI index at 1610 points, up 4.2% week-on-week [13] Summary by Sections Travel Data - The Ministry of Culture and Tourism reported 474 million domestic trips during the Spring Festival, with cross-province travel orders doubling year-on-year [11] - Popular travel themes included "ice and snow tourism" and "winter escape tourism," with bookings for "ancient capital tours" increasing by 115% [11] - The outbound tourism market is recovering, with popular destinations expanding from a "4-hour flight circle" to a "12-hour flight circle" [11] Civil Aviation Market - The civil aviation sector achieved a record of 128,000 flights during the Spring Festival, with a daily average of 16,000 flights, marking a 10.7% increase from 2019 and a 47.9% increase from 2023 [11] - The average ticket price for economy class reached 1011 yuan, a 16% increase from 2019 and a 19.5% increase from 2023 [11] - Domestic flights accounted for 88.4% of total flights, with a daily average increase of 20.1% from 2019 and 34.5% from 2023 [11] Express Logistics - The express logistics sector collected 1.079 billion packages during the Spring Festival, with a daily average collection increase of 145.2% from 2023 [12] - The delivery of packages reached 641 million, with a daily average delivery increase of 82.1% from 2023 [12] Shipping - The BDTI index reported 1341 points, a week-on-week increase of 5.8%, while the BDI index reached 1610 points, up 4.2% week-on-week [13] - The CCFI and SCFI indices reported 1455.2 points and 2166.3 points, respectively, with slight decreases of -0.66% and -2.32% [13]