全球最大的商用民航客机——空客A380拥有庞大的粉丝群体，随着全球旅行回暖迎来意外复兴，常常 满载乘客。 然而，对于航空公司而言，让这款逐渐老化的"超级巨无霸"保持安全飞行，正成为一项越来越昂贵的挑 战。 01 这一数量几乎是同期波音大型机指令的两倍。 检修压力与安全隐患 自首飞至今已超过20年，针对A380的维修、检查和零部件更换要求不断增加。 欧洲航空安全局（EASA）自2020年1月以来已针对A380发布95项适航指令，其中包括逃生滑梯漏气、 密封条开裂、起落架车轴断裂等严重问题。 由于新一代更节能的机型供应不足，承诺运营A380的航空公司别无选择，只能继续使用。 在辉煌时期，A380是国际合作的典范，全球1500家公司参与制造400万个零部件；而如今，其复杂性正 考验着后疫情时代脆弱的供应链。 欧洲航空安全局（EASA）在一份声明中表示："A380是一款结构复杂的飞机，其庞大体型确实使其维 护要求高于其他机型。" 尽管EASA强调适航指令的发布不应被污名化，且不同机型的指令数量不宜直接比较，但A380的复杂性 确实使其维护难度远高于其他机型。 由于新一代节能机型（如空客A350和波音777X）供应不足 ...

Core Viewpoint - Spring Airlines has emerged as the most profitable airline in China, contrasting with major carriers like Air China, China Eastern Airlines, and China Southern Airlines, which are struggling financially [1][3]. Financial Performance - In the first half of 2025, Spring Airlines reported a revenue of 10.304 billion yuan, representing a year-on-year increase of 4.35%. However, net profit decreased to 1.169 billion yuan, down 14.11% compared to the previous year [2]. Customer Experience and Perception - Many passengers express frustration with Spring Airlines despite its profitability, recalling negative experiences related to strict baggage policies and high fees for changes and cancellations [3][5]. - The airline's stringent baggage regulations often lead passengers to feel anxious about their luggage, with many resorting to extreme measures to avoid extra fees [6][13]. Baggage Policies - Spring Airlines enforces strict baggage size and weight limits, with a maximum weight of 7 kg for carry-on luggage, leading to situations where passengers must discard items or pay additional fees [7][13][16]. - Passengers have reported being caught off guard by unexpected fees due to the airline's rigorous measurement practices [8][11]. Ticketing and Refund Policies - The airline's ticketing policies can lead to significant financial losses for passengers, with high fees for cancellations and changes. For instance, one passenger reported receiving only 222 yuan back from a 1,028 yuan ticket after a cancellation request [21][22]. - Spring Airlines has been criticized for its marketing tactics, which sometimes involve misleading promotions that result in passengers inadvertently signing up for credit cards instead of membership programs [18][20]. Operational Strategies - The airline's profitability is attributed to its operational strategies, including the use of a single aircraft model (Airbus A320) to reduce costs associated with procurement, maintenance, and training [32][33]. - By maximizing seat capacity and optimizing flight schedules, Spring Airlines has achieved a higher aircraft utilization rate of 9.74 hours per day, which is 1.2 hours above the industry average [38]. Market Position and Challenges - Despite its success, Spring Airlines faces challenges as competitors lower prices and the market becomes increasingly competitive. The airline's approach of sacrificing customer satisfaction for profit may lead to long-term repercussions [41][42].

Core Insights - The global wide-body jet market is entering a strong recovery phase after nearly a decade of stagnation, marked by significant improvements in aircraft pricing and robust market demand [1] - The supply-demand dynamics have fundamentally improved following a challenging period from 2014 to 2022, characterized by excess capacity and production cuts from major manufacturers [1] - The normalization of international air travel demand is revitalizing the wide-body aircraft market, with the market value of a new Airbus A350-900 exceeding $160 million, up from less than $140 million in 2022 [1] Orders and Market Confidence - Airbus has received over 270 wide-body aircraft orders since December 2023, with a book-to-bill ratio exceeding 2.5, indicating strong market confidence in future international route growth [4] - Major airlines such as Riyadh Air, StarLux Airlines, Korean Air, Japan Airlines, IndiGo, British Airways, and Delta Air Lines have placed large orders, reflecting a strong belief in the market's recovery [4] Profitability Outlook - The new orders with strong pricing are expected to significantly enhance manufacturers' profitability, with Airbus A350 project margins projected to improve by 2026-2027 as production ramps up [4] - From 2028, high-priced orders will enter a concentrated delivery phase, with the A350's EBITDA margin expected to exceed 15% by the end of 2030 [4]

Core Viewpoint - The recent crash of a Boeing 787-8 aircraft marks a significant failure for Boeing, breaking its safety record and highlighting deeper issues within the U.S. manufacturing sector, particularly in high-end manufacturing and the aerospace industry [5][9][11]. Group 1: Incident Overview - On June 12, 2025, a Boeing 787-8 crashed shortly after takeoff from Ahmedabad Airport, resulting in the loss of all 242 passengers and crew on board, as well as five medical students on the ground [5]. - The aircraft, which had a service life of 11.5 years, was previously regarded as one of the safest wide-body aircraft, having transported over 1 billion passengers without any fatal accidents [7][9]. Group 2: Manufacturing Decline Analysis - Boeing's reliance on outsourcing, with 70% of its components produced overseas, has led to a loss of control over its supply chain, contributing to systemic quality issues [11][13]. - The company has faced significant quality control problems with its key supplier, Spirit AeroSystems, leading to multiple incidents of component failures and operational issues [15][19]. - Financial strategies focused on stock buybacks and dividends have resulted in a drastic reduction in research and development investment, compromising safety and innovation [17][19]. Group 3: Competitive Landscape - Boeing's market share in China has plummeted from 75% in 2018 to 40.8% in 2025, while Airbus has increased its share to 52.2%, and COMAC is gaining traction with over 1,500 orders for its C919 aircraft [23][25]. - The shift in the global aerospace manufacturing landscape is evident as competitors like Airbus and COMAC focus on integrated supply chains and continuous R&D investment, contrasting with Boeing's financial maneuvering [27][29]. Group 4: Future Outlook - Boeing's new CEO is attempting to implement a restructuring plan, including selling its digital aviation business and promising to localize its supply chain, but faces significant challenges, including regulatory hurdles and negative cash flow [29][32]. - The decline of Boeing serves as a cautionary tale for the U.S. manufacturing sector, emphasizing the need for a balance between financial performance and maintaining technological integrity [35][39].

而汉莎Allegris头等舱的一大亮点为"双人套房"。这是一个独立的双人客舱，将舒适度和个性化完美结 合。该飞行套房的墙壁高至天花板，舱门可完全关闭，配备有一张大桌和两个近1米宽的座椅。旅客如 有需要，可将座位合并成一张舒适的双人床。此外，旅客可自选为套房内的座椅加温或降温，还可将自 己的移动设备与与机舱娱乐系统相连。套房内的衣柜拥有充足的储物空间，便于旅客更衣和存物。在这 个私密的套房内，旅客可以享受类似高级餐厅的美食服务——要求空乘人员在指定时间提供美食菜单 等。 "我们集团正大力投资机队的现代化建设，如购置最先进的长途客机等等。我们还在不断努力地改善客 户乘机体验，包括推出新的客舱产品、提供新的餐饮概念，以及通过数字化手段来提升客户感知。"据 汉莎集团亚太区及东部联营副总裁Felipe Bonifatti介绍，"我们希望服务更加本土化、更加贴近中国旅客 的乘机需求。去年，汉莎航空与静安香格里拉酒店合作推出了全新的机上菜单，还上线了名为'德国汉 莎航空Lufthansa'的微信小程序。我们的子公司瑞航也将于今年5月招聘更多的中国籍空乘。 | | 2025年3月30日至 | | | | --- | --- ...

大众计划关闭德国工厂，工会成为最大阻力 风投、私募市场收缩，机构数量连续 12 个月下降 关注《晚点财经》并设为星标，第一时间获取每日商业精华。 大众计划关闭德国工厂，工会成为最大阻力 大众汽车声明称，考虑关闭在德国的一家整车制造厂和一家零部件厂，并计划终止自 1994 年实施的 就业保障协议——规定公司不得在 2029 年前裁员。管理层希望通过这些措施到 2026 年能节省 100 亿 欧元的运营成本。 大众 CEO 奥利弗·布鲁姆（Oliver Blume）说，"欧洲汽车行业正处于一个非常严峻的形势中，特别是 德国，作为一个制造基地的竞争力落后。在这种环境下，我们必须果断采取行动。" 今年上半年，大 众收入增长，但营业利润同比下滑 11% 至 101 亿欧元，营业利润率为 6.3%。业绩会上，布鲁姆说， 降低成本将是未来几年的重点。 在大众集团此前公布的削减成本详细措施中，包括将大众品牌的行政成本削减五分之一；将产品开发 周期从 50 个月缩短至 36 个月，在 2028 年前节省 10 亿欧元；取消在总部沃尔夫斯堡投资 8 亿欧元建 设新研发基地的计划。 大众在欧洲本土和中国市场都面临压力。因德国削减消 ...