据春秋航空官网最新公告显示， 7月1日春秋航空日本多批次航班取消， 包括IJ001次航班由东京（成田）飞往上海（浦东）、IJ002次航班由 上海（浦东）飞往东京（成田）等，取消 原因均是 "因受运力调配影响"。 退改签方面，公告显示：可免费改签至自取消航班乘机日起30日以内，且有空位的本公司同一区间航班；退票：自取消航班乘机日起30日以 内，可申请全额退款。此外，公告称，改签或退票只可选择一种，且改签只可办理一次。 大 た // 19 円 0 ホイー 1 × 2 // 1 × 5 × 1 × 5 × 5 × 5 × 5 N) 取消如下航班,特此通知。 为此给您带来的不便,我们深表歉意,敬请理解。 【6月30日】 IJ001东京(成田) 22: 45出发 → 上海（浦东） 01: 25(+1)到达 【7月1日】 IJ002上海 (浦东) 02: 25出发 → 东京(成田)06: 20到 i大 *上述时间均为当地时间。 【有关改签以及退票手续】 改签:可免费改签至自取消航班乘机日起30日以内, 目有空位的本公司同一区间航班 退票:自取消航班乘机日起30日以内,可申请全额退 款 * 请注意,改签或退票只可选择一种。 ...

据央视新闻消息，当地时间6月30日20时50分左右，由上海飞往成田的日航8696航班波音738客机在关西机场紧急降落。据日本国土交通省大阪航空局确认，机上 191名乘客及机组人员均未受伤或出现身体不适。 据潇湘晨报报道，该航班于当日17时49分从上海浦东正常起飞，原定于当地时间21时47分到达东京成田机场，但其雷达数据显示，在18时53分许，该航班原本位于 超1.1万米的高空，在十分钟内突然急速下降至3200余米的高度。随后在近19时50分落地。 春秋航空客服告诉记者，春秋航空日本航空属于单独的航司。 根据日本国土交通省等部门通报，飞机触发显示"增压系统故障"的警报。机舱内疑似发生减压状况，飞行员向空管宣布紧急状态，随后变更目的地降落关西机场。 目前日航正在调查具体事故原因。 此前报道 6月30日晚9时多，有多名网友发帖称自己乘坐从上海浦东飞往东京成田的春秋航空日本航空IJ004时，"从一万米快速下落到三千米，失重感+耳压爆炸"。 网友发布视频显示，座位上的氧气面罩都掉了下来。 责编：罗晓霞 校对：赵燕 百万用户都在看 美联储，突传重磅！ 太疯狂！暴跌80%！ 集体大涨！特朗普，新计划曝光！ "双杀"！台湾， ...

Core Viewpoint - On June 30, 2023, Spring Airlines Japan's flight IJ004 experienced a mechanical failure during its journey from Shanghai Pudong to Tokyo, leading to a rapid descent and emergency landing in Osaka [6][7]. Group 1: Incident Details - The flight took off from Shanghai Pudong at 17:49 and was scheduled to arrive in Tokyo at 21:47 local time [6]. - During the flight, the aircraft, a Boeing 737-800 with an age of 7.1 years, experienced a sudden drop from an altitude of over 11,000 meters to approximately 3,200 meters within ten minutes [6]. - The incident was confirmed by flight monitoring software, which showed a significant altitude decrease [6]. Group 2: Company Background - Spring Airlines Japan was established in 2012 as a joint venture between Spring Airlines and Japan Airlines, with Japan Airlines becoming the majority shareholder in June 2021, retaining 33% ownership by Spring Airlines [7]. Group 3: Response and Current Status - As of the report, Spring Airlines Japan had not responded to inquiries regarding the incident [8]. - All other flights operated by Spring Airlines were reported to be running normally [6].

Core Viewpoint - Spring Airlines has launched a new short drama series titled "Great, It's a Punctual Flight, We Are Saved," which creatively integrates ancient mythological stories with modern airline services to enhance brand engagement and appeal to younger audiences [1][3]. Group 1: Brand Strategy - The short drama series consists of seven episodes based on well-known Chinese myths, featuring characters like the Cowherd and Weaver Girl, Chang'e and Hou Yi, and the Eight Immortals, reimagined in contemporary scenarios [3]. - The character "Aqiu," a flight attendant, utilizes Spring Airlines' unique services such as "Super Discount Flights" and "Preferred Flights" to resolve the characters' modern-day dilemmas, showcasing the airline's commitment to punctuality and customer service [3][4]. - The production team aimed to make the airline's product and service offerings more relatable and memorable through the use of popular storytelling techniques, such as time travel and reincarnation, thereby modernizing classical myths [3][4]. Group 2: Audience Engagement - The previous short drama featuring "Aqiu" garnered over 15 million views, indicating a successful strategy in breaking traditional advertising molds and creating engaging content that resonates with younger audiences [4]. - The use of a playful and friendly character design for "Aqiu" aims to create a warm connection with viewers, allowing them to experience the warmth of airline services while enjoying the narrative [3][4]. - The brand philosophy emphasizes using technology to ensure punctuality, flexible services to meet diverse needs, and high cost-effectiveness to provide a safe and quality travel experience for passengers [3].

Core Insights - The article highlights the increasing trend of family travel as the summer tourism peak approaches, with Spring Airlines optimizing its flight network from Shijiazhuang starting July 1 [1] Group 1: New Routes and Frequency Adjustments - Spring Airlines has added five new tourist routes from Shijiazhuang, including Sanya, Fuzhou, Mianyang, Quanzhou, and Manzhouli, while increasing the frequency of four popular routes: Dalian, Guilin, Lanzhou, and Guiyang [2] - The new Shijiazhuang-Sanya route will operate three times a week (Tuesdays, Thursdays, and Saturdays), while the Shijiazhuang-Fuzhou route will have five weekly flights, catering to business travelers [2] - The Shijiazhuang-Dalian route has been increased to 2-3 daily flights, and the Shijiazhuang-Guiyang route has been upgraded from four weekly flights to daily service, enhancing connectivity between the Southwest and North China [2] Group 2: International Routes and Regional Economic Impact - International routes from Shijiazhuang to Tokyo and Seoul continue to operate, with the Tokyo route flying twice a week and the Seoul route also twice a week, providing convenient access to these destinations [2] - The new routes, particularly the Manzhouli route, are expected to facilitate trade along the China-Mongolia-Russia border, while the Quanzhou route will support the return of Fujian merchants, contributing to regional economic activation [2] - Shijiazhuang Airport is positioning itself as a key aviation hub in the Beijing-Tianjin-Hebei region, aiming to create a comprehensive flight network that enhances travel efficiency and experience for families [2]

TU-204型货运飞机装载货物。岳千惠 摄 6月26日，甘肃省民航物流公司成功首开"兰州=莫斯科"国际货运航线。这不仅是对此前"兰州=塔什干"货运航线的有力拓展，更以首次引进TU-204型全货 机，在中国西部与东欧市场间架起了一条全新的"空中丝绸之路"。随着每周2—3班常态化的运营，这条航线正以稳定的运力，显著提升西北地区与俄罗斯 及周边国家的货物运输时效，为兰州中川国际机场三期投运百日答卷添上了浓墨重彩的一笔。 空铁联运：从地理中心到立体枢纽的百日蜕变 作为国内首创的空铁换乘枢纽，27万平方米的综合交通中心将航空、高铁、公交等多种交通方式编织成网，实现"下高铁即登机"的便捷体验。数据显示， 3月20日至6月27日，机场累计保障运输起降3.41万架次、旅客吞吐量478.20万人次，同比分别增长5.63%、9.20%，枢纽能级提升态势显著。 地面交通网络同样高效协同，中川机场东高铁站自3月20日以来累计发送旅客54.85万人次，日均发送5485人；累计到达旅客74.17万人，日均到达7624人； 民航巴士运送旅客45.42万人次，其中长途旅客达4.13万人次。连接新区秦王川高铁站与机场间的免费巴士，打通了无忧换 ...

Investment Rating - The report maintains a "Positive" outlook on the transportation industry, highlighting sufficient safety margins in the current market conditions [4][22]. Core Insights - The report emphasizes the recovery of the aviation sector, driven by limited supply growth and increasing passenger demand, suggesting a potential uplift in airline profitability [41][42]. - The shipping market is experiencing volatility, with a significant drop in oil tanker rates due to easing Middle Eastern tensions, while coal and dry bulk shipping may see a rebound [23][24][25]. - The logistics and express delivery sectors are expected to benefit from policy support aimed at optimizing costs, with major players likely to gain market share through strategic pricing [4][22]. Summary by Sections Transportation Industry Performance - The transportation index decreased by 0.24%, underperforming the Shanghai Composite Index by 2.19 percentage points [5][12]. - The shipping sector faced the largest decline at -4.39%, while the intermediate products and consumer goods supply chain services saw a rise of 7.56% [5][12]. Shipping and Oil Transportation - VLCC rates fell by 44% to $29,878 per day, with Middle Eastern routes dropping 54% to $28,488 per day due to reduced demand [23]. - The report notes that the average MR tanker rate decreased by 5% to $24,132 per day, reflecting a broader trend of declining rates in the oil transportation sector [24]. Dry Bulk and Coal Shipping - The Baltic Dry Index (BDI) fell by 9.9% to 1,521 points, indicating a challenging environment for large bulk carriers, while smaller vessels showed resilience [25]. - The report anticipates a seasonal decline in rates for Capesize vessels, but strong summer coal demand may support smaller bulk carriers [25]. Logistics and Express Delivery - The express delivery sector is projected to maintain high growth rates, with major companies like SF Express and JD Logistics positioned to optimize capacity utilization [4][22]. - The report highlights the potential for market share consolidation among leading express delivery firms due to favorable policy changes [4][22]. Aviation Sector - The aviation market is entering a peak season, with supply constraints and rising passenger volumes expected to enhance airline profitability [41][42]. - Recommended stocks in the aviation sector include China Eastern Airlines, China Southern Airlines, and Spring Airlines, among others [41][42]. High Dividend Stocks - The report identifies several high dividend stocks within the transportation sector, including Bohai Ferry and Daqin Railway, which offer attractive yields [17][20].

Core Insights - The domestic civil aviation market is experiencing a surge in travel demand as the summer travel season approaches, driven by various travel types such as summer vacations, family trips, and outbound travel [1][2] Group 1: Passenger Traffic Predictions - The domestic flight ticket bookings for July 2025 are projected to reach approximately 17.9 million, reflecting a year-on-year increase of about 5% [2] - International flight ticket bookings have exceeded 7.74 million, marking a year-on-year growth of around 14% [2] - Major domestic routes include Beijing-Shanghai, Beijing-Guangzhou, and Guangzhou-Shanghai, with significant interest in travel to Xinjiang this summer [2] Group 2: Airline Operations and Capacity - Hainan Airlines plans to operate 30,435 flights during the summer season, transporting approximately 4.59 million passengers [2] - Eastern Airlines will execute over 1,150 passenger routes with an average of more than 3,200 flights daily, representing a 5% increase compared to 2024 [2][3] - China Southern Airlines aims to operate over 320,000 flights across 970 domestic and 260 international routes, with daily flights exceeding 3,000 during peak periods [3][4] Group 3: New Routes and Seasonal Adjustments - Xiamen Airlines is launching 24 seasonal routes to popular summer destinations, including new flights from major hubs to Xinjiang and Inner Mongolia [5] - Sichuan Airlines is optimizing its domestic route network, adding and resuming over 10 routes, including direct flights from Chengdu to Hailar [5][6] - Eastern Airlines is introducing 38 new domestic routes, focusing on popular tourist regions such as Xinjiang and Inner Mongolia [7] Group 4: Market Trends and Pricing - The aviation industry is witnessing an upward trend in domestic ticket prices, with strong performance during the May Day holiday expected to carry into the summer season [8] - Analysts suggest that the improved pricing environment and strong summer demand may lead to better-than-expected profitability for the aviation sector in the second and third quarters [8]

《中国民航报》、中国民航网 记者胡夕姮 通讯员郭庆志 报道：为持续巩固上海辖区安全运行基础，构 建各公司高效便捷的交流平台，6月26日，民航上海监管局组织召开了上海辖区运控系统交流会（二季 度）。会议以典型案例和运行难点为切入点，引导各公司深入、坦诚地交流分享，通过思维的碰撞和发 散，学习并吸收其他公司的优秀经验，切实转化为提升整体运行安全和效率的有效措施。会议邀请民航 华东地区管理局航务管理处和东航股份运控部门的代表进行了指导和交流分享。 （民航上海监管局供图） 在交流会上，吉祥航空和春秋航空分别就日常运行中的航班复飞备降、泰国CDR（Conditional Route， 条件航路）和成渝航路运行的两起典型事件进行了详细介绍，内容包括事件经过、原因分析、优化提升 措施以及安全建议。东航则分享了运控空中支援体系的建设过程和成果。随后，各单位围绕典型事件， 结合自身运行中的痛点和难点，如国际外站保障资源的不均衡、沟通用语的标准规范、AOC（运行控 制中心）飞机关键系统故障监控等各抒己见，坦诚交流。 上海监管局对本次交流会的实际效果给予了高度评价，强调各公司运控系统的安全是共同的责任，公司 之间应加强沟通交流，相 ...

风险提示：宏观经济下行、人民币大幅贬值、油价大幅上涨、重大自然灾害 等。 证券研究报告 | 行业定期报告 2025 年 06 月 27 日 量价双升，5 月行业盈利有望大幅改善 航空行业 2025 年 5 月数据跟踪 周期/交通运输 本月关注：航空 5 月客运数据量价齐升，关注 25-26 年行业基本面上行趋势及 市值弹性。 | | | 占比% | | --- | --- | --- | | 股票家数（只） | 129 | 2.5 | | 总市值（十亿元） | 3114.3 | 3.5 | | 流通市值（十亿元） | 2879.2 | 3.6 | 行业指数 % 1m 6m 12m 绝对表现 3.1 0.7 18.2 相对表现 0.8 1.8 4.8 -15 -10 -5 0 5 10 15 20 25 Jun/24 Oct/24 Feb/25 Jun/25 (%) 交通运输 沪深300 资料来源：公司数据、招商证券 行业规模 重点公司主要财务指标 | 公司简称 | 公司代码 | 市值 | 24EPS | 25EPS | 25PE | PB | 投资评级 | | --- | --- | --- | --- | ...