出行｜民航客流双位数增长，航油压力或逐步缓解

Core Viewpoint - The demand for domestic travel during the 2025 Labor Day holiday is expected to exceed 350 million trips, representing a year-on-year growth of over 15% [1][2][8] Group 1: Domestic Travel Demand - The Ministry of Culture and Tourism predicts that domestic tourism during the Labor Day holiday will surpass 350 million trips, with a year-on-year increase of over 15% [1][2] - The first three days of the holiday saw a total of 840 million cross-regional travelers, a year-on-year increase of 4.9%, with civil aviation and railway passenger volumes growing by 12.5% and 10.5% respectively [2][6] - The longer holiday period and the ability to combine days off have led to a broader travel range and increased travel volume compared to the Qingming Festival [2][6] Group 2: Civil Aviation Performance - Daily average passenger volume for civil aviation reached 219,200, marking a historical high and a year-on-year increase of 12.5% [3][8] - The average ticket price is expected to decline by no more than 5% year-on-year, with effective measures to curb price drops during the holiday [4][8] - The utilization rate of narrow-body aircraft on May 1 increased by 0.7 hours compared to 2019, indicating strong demand for long-distance travel [3][8] Group 3: International Travel Trends - The recovery rate of international flights reached 91%, with cross-border travel showing a "dual warming" trend due to visa-free policies [5][8] - Inbound travel orders surged by 173% year-on-year during the holiday, with top destinations including Shanghai, Beijing, and Guangzhou [5][8] Group 4: Railway and Road Travel - Railway passenger volume increased by 10.5% year-on-year during the first three days of the holiday, exceeding expectations [6][8] - Daily average traffic on highways also grew by 4.9%, indicating a positive trend in road travel [6][8] - The popularity of lower-tier cities as travel destinations has contributed to increased demand for both rail and road travel [6][8]