Core Viewpoint - The impact of recent comments from the Japanese Prime Minister has led to significant reductions and cancellations of flights between China and Japan, affecting travel plans during the peak winter and spring festival seasons. Group 1: Flight Reductions and Cancellations - Starting from December 1, Chinese airlines will face substantial reductions and cancellations of flights to Japan, with adjustments expected to last until the end of March 2026 [1] - A total of 16 Chinese airlines will reduce weekly flights to Japan by 156, with the largest reduction from Juneyao Airlines, cutting 35 flights per week, which is 31% of its total Japan routes [1] - China Southern, Shenzhen Airlines, and China Eastern will also reduce flights by 23, 22, and 18 per week, respectively [1] Group 2: Cancellation Rates and Specific Routes - The cancellation rate for planned flights to Japan is projected to reach 21.6% by November 27, with 12 routes already canceling all flights [2] - Among the top 20 routes, the highest cancellation rates include Tianjin Binhai to Kansai International at 65.0%, Nanjing Lukou to Kansai International at 59.4%, and Guangzhou Baiyun to Kansai International at 31.3% [2] - Smaller airlines, such as Beijing Capital Airlines, have also announced significant cancellations, including all flights on certain routes from December 9 to March 3 [2] Group 3: Aircraft Type Adjustments - Airlines are not only reducing flight frequencies but also changing aircraft types to smaller models, such as switching from the Airbus A330-300 to the A321, which has a lower passenger capacity [3] - Some airlines, like Shandong Airlines and Xiamen Airlines, have not made any changes to their Japan flight plans [3] - The overall trend indicates a reduction in capacity on China-Japan routes, leading to increased travel costs for consumers during the New Year and Spring Festival [3] Group 4: Price Increases - Spring Airlines has raised the minimum ticket prices on several routes, with one route's lowest fare increasing to 42,900 yen, indicating a trend of rising travel costs [3]

Core Viewpoint - The article highlights the significant cancellation of flights between China and Japan, primarily due to geopolitical tensions and travel advisories issued by Chinese authorities, leading to a drastic reduction in flight operations and future booking cancellations [9][4]. Flight Cancellations - As of November 24, 12 routes between China and Japan have canceled all flights, affecting cities like Nagoya, Fukuoka, Sapporo, and Osaka [2]. - The cancellation rates for specific routes are notably high, with 100% cancellations reported for several routes including Hangzhou to Central Japan and Nanjing to Fukuoka [3]. Future Cancellation Rates - The cancellation rate for planned flights to Japan is expected to reach 21.6% by December 27, marking the highest level in a month [4]. - Routes with the highest cancellation rates include Tianjin to Kansai International (65.0%) and Nanjing to Kansai International (59.4%) [4]. Airline Adjustments - Chinese airlines are making significant adjustments to their Japan routes, with many flights being closed for booking. This includes reductions in frequency and cancellations of previously planned increases in service [9][11][13]. - Specific adjustments include: - Air China reducing flights from Beijing to Sapporo from 7 to 4 weekly [11]. - China Eastern Airlines closing bookings for 6 out of 14 weekly flights from Beijing to Osaka [16]. - Spring Airlines canceling certain flights from Shanghai to Okinawa starting December 20 [25]. Overall Impact - The overall impact of these cancellations and adjustments indicates a substantial decrease in travel between China and Japan, driven by both political factors and operational decisions by airlines [9][4].

Core Insights - The cancellation of flights on the China-Japan route has reached a significant level, with 12 routes canceling all flights as of November 24 [1][2] - The overall cancellation rate for planned flights to Japan has increased by approximately 56% compared to the same period last month [3] - The upcoming week is expected to see a peak cancellation rate of 21.6%, the highest in a month [3] Flight Cancellations - Specific routes with 100% cancellation include Hangzhou to Central International Airport, Nanjing to Fukuoka Airport, and several others [2] - Major airlines like Air China and Eastern Airlines are reducing their flight frequencies, with Air China cutting its Shanghai to Osaka route from 21 to 16 flights per week [3][5] - The top routes with high cancellation rates include Tianjin to Kansai International (65.0%) and Nanjing to Kansai International (59.4%) [5][6] Impact on Tourism - The cancellation of flights has led to a significant drop in ticket bookings, with a reported decrease of about 29% in future bookings for flights to Japan since the announcement of free cancellation policies [7] - Approximately 543,000 tickets have been canceled, indicating a substantial impact on travel plans [7] - Japanese tourism operators are facing increased pressure due to the decline in Chinese tourists, with many tour groups canceling their trips [7][8] Shift in Travel Preferences - As travel to Japan declines, there is a noticeable shift towards other destinations, particularly South Korea, which has seen a rise in flight bookings [8] - Countries like Russia and Thailand are actively promoting their tourism to attract Chinese travelers, with Thailand launching specific campaigns to draw visitors [9]

证券之星消息，11月24日航空机场板块较上一交易日下跌0.2%，吉祥航空领跌。当日上证指数报收于 3836.77，上涨0.05%。深证成指报收于12585.08，上涨0.37%。航空机场板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 000099 | 中信海直 | 20.46 | 3.49% | | 11.71万 | 2.37亿 | | 600004 | 白云机场 | 9.63 | 0.52% | | 17.38万 | 1.67亿 | | 000089 | 深圳机场 | 6.93 | -0.29% | 16.58万 | | 1.15亿 | | 601021 | 春秋航空 | 55.05 | -0.51% | 4.69万 | | 2.59亿 | | 600115 | 中国东航 | 5.14 | -0.77% | | 96.00万 | 4.95 乙 | | 600221 | 海航控股 | 1.67 | -1.18% | 517.39万 | | 8.68亿 | | ...

Core Insights - The cancellation of flights on the China-Japan route has reached a critical level, with 12 routes canceling all flights as of November 24 [2][3] - The overall cancellation rate for planned flights from China to Japan has increased by approximately 56% compared to the same period last month [5] - The upcoming week is expected to see a peak cancellation rate of 21.6%, the highest in a month [6] Flight Cancellations - Specific routes with 100% cancellation include Hangzhou to Central International Airport, Nanjing to Fukuoka Airport, and several others [3] - Airlines such as Air China and Eastern Airlines are reducing their flight frequencies significantly, with Air China cutting its Shanghai to Osaka route from 21 to 16 flights per week [4] - The top routes with the highest cancellation rates include Tianjin to Kansai International (65.0%) and Nanjing to Kansai International (59.4%) [8] Impact on Tourism - The cancellation of flights has led to a significant drop in ticket bookings, with a reported decrease of 29% in bookings for the next 60 days compared to November 15 [9] - Approximately 543,000 flight orders have been canceled since the announcement of free cancellation policies for flights to Japan [9] - Japanese tourism operators are facing increased pressure due to the decline in Chinese tourists, with many tour groups canceling their trips during what is typically a busy season [10] Shift in Travel Preferences - As travel to Japan declines, there is a noticeable shift towards South Korea and Southeast Asia as alternative destinations for Chinese tourists [11] - Data indicates that South Korea has become a popular destination, with a significant increase in flight searches and bookings [12] - Other countries, including Thailand and Russia, are actively promoting their destinations to attract Chinese tourists [12]

Core Viewpoint - The article highlights a significant increase in flight cancellations from China to Japan, particularly affecting leisure travel, due to recent travel advisories and airline policies [3][10]. Flight Cancellations - As of November 24, 2025, a total of 12 flight routes from China to Japan have canceled all flights, with a 100% cancellation rate for routes such as Hangzhou to Central International Airport and Nanjing to Fukuoka Airport [5][6]. - The overall cancellation rate for planned flights from China to Japan has increased by approximately 56% compared to the same period last month [6][11]. - The highest cancellation rates among the top 20 planned routes include Tianjin to Kansai International at 65.0% and Nanjing to Kansai International at 59.4% [9]. Impact on Travel Industry - The cancellation of flights has led to a significant drop in ticket bookings, with a reported decrease of about 29% in future ticket reservations for flights to Japan since the announcement of free cancellation policies on November 15 [11][12]. - Over 540,000 flight orders have been canceled, indicating a substantial impact on the travel industry [12]. Pressure on Japanese Tourism - Japanese tourism operators are facing increased pressure due to the decline in Chinese tourists, with many tour groups canceling their trips during what is typically a busy season [12][14]. - The shift in travel patterns suggests that South Korea may benefit from the decline in Chinese tourists to Japan, as it has seen a rise in international travel demand [14]. Alternative Destinations - Data indicates that South Korea has become a popular destination for outbound travel, with significant increases in flight searches and bookings [14]. - Other countries, such as Thailand and Russia, are actively promoting their tourism to attract Chinese travelers, with Thailand launching specific campaigns to entice visitors [14].

Core Points - The cancellation of flights on the China-Japan routes has significantly increased, with 12 routes canceling all flights as of November 24, leading to a 56% increase in cancellations compared to the same period last month [1][2][6] - The majority of cancellations are affecting leisure travelers, particularly to Osaka, while business travel to Tokyo remains relatively stable [6][7] - The decline in flight bookings to Japan has resulted in a 29% decrease in ticket reservations since the announcement of free cancellation policies on November 15 [6][8] Flight Cancellations - A total of 12 routes have canceled all flights, with airlines like Air China and Eastern Airlines reducing their weekly flights significantly [1][2] - The highest cancellation rates are observed on routes such as Tianjin Binhai to Kansai International (65.0%) and Nanjing Lukou to Kansai International (59.4%) [5] Impact on Tourism Industry - Japanese tourism operators are facing increased pressure due to the drop in Chinese tourists, with many tour groups canceling their trips during what is typically a busy season [7][8] - The demand for travel from mainland China has decreased, particularly affecting hotel bookings and tour operations [8] Shift in Travel Preferences - As travel to Japan declines, there is a potential shift of Chinese tourists towards South Korea and Southeast Asia, with destinations like Thailand and Vietnam seeing a recovery in flight volumes [9][10] - South Korea has emerged as a popular destination, with a significant increase in flight searches and bookings [9]

Core Viewpoint - The aviation industry is expected to significantly reduce losses in November, with strong year-on-year growth in commercial demand and rising passenger load factors and domestic ticket prices [1][2]. Group 1: Industry Performance - In October, the aviation industry saw a year-on-year increase in ASK (Available Seat Kilometers) by 6%, RPK (Revenue Passenger Kilometers) by 9%, and passenger volume by 6%, with domestic growth at 4% and international growth at 20% [2]. - The passenger load factor improved by 2.2 percentage points to 87.4%, and domestic ticket prices rose by 3-4% compared to September [2]. - The overall performance of A-share airlines in Q3 2025 showed a counter-cyclical growth, marking the third consecutive year of performance exceeding Q3 2019, indicating a potential upward trend in profitability [1][2]. Group 2: International Routes - The international passenger load factor for September and October is estimated to exceed 80%, matching the peak season, with a year-on-year increase of over 3 percentage points, leading to a significant rise in international ticket prices, particularly for European routes [3]. - The ongoing benefits from visa-free policies and the construction of international transit hubs are expected to enhance long-term profitability for airlines [3]. Group 3: Market Dynamics - The decline in passenger flow on Japanese routes is anticipated to have a limited impact on the industry's profitability during the off-peak season, as the overall contribution of Japanese routes to the airlines' ASK is relatively small [4]. - Domestic trunk routes remain the core profit source for traditional airlines, and the performance of Japanese routes is not expected to alter the long-term growth logic of the aviation industry [4]. Group 4: Future Outlook - The Chinese aviation industry is poised to enter a "super cycle," driven by a significant increase in the profitability baseline as supply and demand recover, with a focus on high-quality networks for traditional airlines [5]. - Strategic investment opportunities are recommended, with a focus on companies like Air China, Juneyao Airlines, China Eastern Airlines, China Southern Airlines, and Spring Airlines [5].

每经编辑｜程鹏 潘海福 11月24日，综合第一财经、智通财经报道，航班管家DAST数据显示，截至11月24日10点，已有12条中日航线取消所有航班，涉及名古屋、福冈、札幌、 大阪等地。 | | 未来 | | 周赴日航班取消航线 | | | --- | --- | --- | --- | --- | | 出发地 | 目的地 | 目前已取消 | 总计划 | 未来一周赴日航班取消率 | | 杭州萧山 | 中部国际机场 | 7 | 7 | 100.0% | | 南京禄口 | 福冈机场 | 7 | 7 | 100.0% | | 运城盐湖 | 中部国际机场 | 4 | 4 | 100.0% | | 南京禄口 | 中部国际机场 | 3 | 3 | 100.0% | | 北京大兴 | 新干岁机场 | 3 | 3 | 100.0% | | 深圳宝安 | 中部国际机场 | 3 | 3 | 100.0% | | 成都天府 | 新干岁机场 | 3 | 3 | 100.0% | | 扬州泰州 | 关西国际机场 | 3 | | 100.0% | | 福州长乐 | 那霸机场 | 2 स्ट | 2 | 100.0% | | 上海浦东 | ...

中日航线正迎来大规模调整。南都N视频记者11月24日从航班管家获悉，据监测，未来一周赴日计划航班取消率在11月27日达到21.6%，为1 个月以来最高值。从计划航班来看，由于计划航班量较低，截至今日（11月24日）10点已有12条航线取消所有航班。 11月14日，外交部领事司发布消息提醒中国公民近期避免前往日本。此后，国航、东航、南航、海航、四川航空、春秋航空等航司陆续发 布涉日航线客票特殊处理公告，符合条件可以办理免费退改。南都此前报道，据AeroRoutes网站，中国多家航空公司当周开始逐步调整对 日航班服务，部分航班关闭预订： 例如：东航"北京大兴-大阪关西"航线自2025年12月1日起，14班中有6班关闭预订。春秋航空"大连-福冈"航线自2025年11月28日起，每周1 班关闭预订（该航线冬季仅于11月25日执行1班）。国航"北京首都-札幌新千岁"航线2025年12月9日至2026年3月7日，维持每周4班，原计 划增至每周7班已取消，等等。 根据航班管家DAST发布的监测信息，中日航线上主要承运航司有23家，国内航司17家，东航承运航班量占国内航司份额超两成，国航紧随 其后，占17.32%。受民航换季 ...