Core Viewpoint - The 2026 Spring Festival travel season is expected to see a record high in passenger transport volume, with a forecast of 95 million passengers, averaging 2.38 million daily, representing a year-on-year increase of approximately 5.3% [1][2]. Group 1: Passenger Transport Volume - The anticipated passenger transport volume during the 2026 Spring Festival is projected to reach 95 million, with daily averages of 2.38 million, marking a 5.3% increase from the previous year [1][2]. - The travel season is expected to experience two peak passenger flow periods around the Spring Festival holiday, particularly due to the late timing of the holiday in 2026, leading to concentrated return flows of students and workers [2]. Group 2: Travel Trends - There is a growing interest in popular travel routes, such as northern ice and snow tourism and southern warm weather escapes, driven by favorable policies and extended holiday periods [2]. - As of January 19, 2026, ticket bookings for domestic flights exceeded 520,000, while international routes saw over 180,000 bookings, indicating strong demand [3]. Group 3: Operational Challenges - Complex weather conditions may pose significant challenges to flight operations, necessitating higher operational standards from airlines, airports, and air traffic control [4]. - The Civil Aviation Administration of China (CAAC) is implementing measures to ensure safety and operational efficiency, including special inspections and emergency preparedness [5]. Group 4: Flight Capacity and Coordination - The CAAC plans to ensure 780,000 flights during the Spring Festival, averaging 19,400 flights per day, which is a 5% increase from the previous year [6]. - The CAAC is focusing on increasing flights to hub airports and tourist destinations domestically, while also enhancing international routes to neighboring countries [6].

Core Insights - The 2026 Spring Festival travel season is expected to see a record high of 95 million passengers, with a daily average of 2.38 million, representing a year-on-year growth of approximately 5.3% [1][2] Group 1: Passenger Volume and Trends - The Spring Festival travel period will last from February 2 to March 13, totaling 40 days [1] - The travel season is anticipated to create two peaks in passenger flow, particularly due to the late timing of the Spring Festival, leading to concentrated return trips for students and workers [2] - The demand for air travel is expected to be boosted by traditional return flows and a strong holiday tourism demand [2] Group 2: Flight Operations and Capacity - The Civil Aviation Administration of China (CAAC) plans to ensure 780,000 flights during the Spring Festival, averaging 19,400 flights per day, which is a 5% increase year-on-year [5] - The CAAC will focus on increasing flights to hub airports and popular tourist destinations domestically, while also enhancing international routes to neighboring countries [5] - The CAAC is encouraging airlines to develop integrated travel products, such as domestic connecting flights and air-rail intermodal services [5] Group 3: Passenger Rights and Services - The CAAC will ensure that airlines adhere to integrated service requirements, particularly in managing flight delays and ticket changes [6] - Special attention will be given to travelers with specific needs, including the elderly, children, and disabled passengers, to enhance service processes and ensure a smooth travel experience [7]

Industry Overview - Domestic flight bookings are warming up, with ticket prices and time periods showing "double peaks" for the 2026 Spring Festival travel season, indicating an early release of market heat [1][2] - As of January 11, domestic flight bookings have increased by 8% compared to the same period in 2025, with a continuous upward trend in bookings after the New Year holiday [2] - International flight search volumes have surged, with significant regional price differentiation; prices for destinations in Japan, Australia, the Middle East, and the Americas have decreased compared to last year, while Southeast Asia has seen price increases [2] - Overall growth in domestic airlines is noted, with significant performance differences among airlines, particularly leading carriers like Huaxia Airlines, Western Airlines, and Tibet Airlines showing strong capacity growth [2] - Major airports are leading the way, with regional performance disparities; it is expected that the number of passenger flights during the Spring Festival will exceed one million, with 80% of airports experiencing year-on-year growth [2] Market Performance - The transportation sector overall has seen a decline relative to the CSI 300 index during the week of January 12-16, with the airline sector down by 3.50% and the airport sector down by 4.09% [1]