民航局将规范低于成本价卖票

Core Viewpoint - The Civil Aviation Administration of China (CAAC) is addressing the issue of "involution" in the aviation industry, where excessive low pricing and capacity deployment have led to low profitability despite market growth. The CAAC aims to regulate market pricing and monitor fare dynamics to prevent predatory pricing practices [3][4]. Group 1: Market Conditions - Despite the CAAC's efforts, there has not been a significant increase in ticket prices, with average domestic economy class fares in July and August 2024 down by 6.4% year-on-year and 8.6% compared to 2019 [3]. - The CAAC is currently collecting data from airlines to assess cost structures on different routes, which will inform future pricing regulations and monitoring [4]. Group 2: Competitive Dynamics - Some airlines are engaging in "stealth" low pricing during off-peak times, leading to a competitive cycle where one airline's price drop prompts others to follow suit, resulting in significant variations in passenger load factors [5]. - The aviation industry faces more challenges in curbing "involution" compared to the express delivery sector, as there are 65 passenger airlines competing for domestic routes, leading to oversupply and competition from high-speed rail [6]. Group 3: Industry Structure and Strategy - There is a need to establish a mechanism for airlines to exit the market to alleviate price competition, as many airlines have been operating at a loss since the pandemic without going bankrupt, unlike their foreign counterparts [6]. - The value of existing airline licenses has increased due to the CAAC's moratorium on new airline approvals, making it difficult for underperforming airlines to exit the market [6]. - Airlines must shift from a growth strategy based on capacity and resource input to one that focuses on understanding diverse passenger needs and innovating their service offerings [6].