Core Insights - China National Airlines (601111.SH) reported an increase in passenger turnover volume (measured in revenue passenger kilometers) for July 2025 compared to the previous year [1] - The company's passenger capacity input (measured in available seat kilometers) rose by 2.3% year-on-year [1] - In terms of cargo, the cargo capacity input (measured in available cargo ton kilometers) increased by 3.3% year-on-year, while cargo mail turnover volume (measured in revenue cargo ton kilometers) saw a rise of 7.9% [1] - The cargo load factor was recorded at 42.9%, which is an increase of 1.8 percentage points year-on-year [1]