交通运输行业简评报告：中美航班扩增或修复国际客运，节后快递跑出加速度

Investment Rating - The report rates the industry as "Positive" [1] Core Insights - The recent performance of the transportation sector shows a decline, with the transportation index down by 1.29%, ranking 30th among 31 primary industries [2][3] - The civil aviation sector has seen a significant recovery, with a 57.1% year-on-year increase in total transportation turnover in January 2024, and a 44.1% increase in passenger transport volume compared to the previous year [2][3] - The report highlights the recovery of international routes, particularly between China and the US, which is expected to further enhance the recovery of international air travel [2][3] Market Review - The Shanghai Composite Index rose by 1.38% last week, while the transportation index fell by 1.29% [2][3] - The aviation and airport sector experienced a weekly decline of 1.60%, while shipping and port, logistics, and railway and highway sectors also saw declines [2][3] Industry Data Tracking Aviation and Airports - In the week of February 26 to March 3, 2024, the national civil aviation executed nearly 106,000 passenger flights, with a daily average of 15,225 flights, a 2% decrease from the previous week but a 27% increase year-on-year [2][3] - The average fleet utilization rate was 8.2 hours per day, with Southern Airlines leading at 8.5 hours [2][3] Postal and Express Services - In January 2024, the postal industry completed 16.33 billion items, a 73.2% year-on-year increase, with express delivery volume reaching 14.7 billion items [2][3] Shipping and Ports - As of March 1, 2024, the Baltic Dry Index increased by 92.40% year-on-year, indicating a strong recovery in shipping rates [39]