Core Insights - China Southern Airlines (600029) reported a 7.53% year-on-year increase in passenger capacity for October 2025, with domestic, regional, and international segments rising by 4.94%, 8.54%, and 15.29% respectively [1] - The passenger turnover increased by 8.83% year-on-year, with domestic, regional, and international segments growing by 6.78%, 8.48%, and 15.21% respectively [1] - The passenger load factor reached 87.89%, up by 1.05 percentage points year-on-year, with domestic load factor increasing by 1.54 percentage points, while regional and international segments saw slight declines of 0.05 and 0.06 percentage points respectively [1] Cargo Operations - In October 2025, cargo capacity (measured in available ton-kilometers) increased by 6.75% year-on-year [1] - Cargo turnover (measured in revenue ton-kilometers) rose by 8.06% year-on-year [1] - The cargo load factor was 52.48%, reflecting an increase of 0.64 percentage points year-on-year [1] Fleet Update - No new major routes were added in October 2025 [1] - The company introduced 4 new aircraft, including 2 A320NEO, 1 B737-8, and 1 C919, while retiring 1 A319 aircraft [1] - As of the end of October 2025, the total operational fleet consisted of 959 aircraft [1]

Core Viewpoint - China Southern Airlines reported an increase in passenger capacity and turnover for October 2025, indicating growth in both domestic and international markets [1] Passenger Operations - Passenger capacity (measured in available seat kilometers) increased by 7.53% year-on-year, with domestic, regional, and international segments rising by 4.94%, 8.54%, and 15.29% respectively [1] - Passenger turnover (measured in revenue passenger kilometers) rose by 8.83% year-on-year, with domestic, regional, and international segments increasing by 6.78%, 8.48%, and 15.21% respectively [1] - The passenger load factor was 87.89%, up by 1.05 percentage points year-on-year, with domestic load factor increasing by 1.54 percentage points, while regional and international segments saw slight declines of 0.05 and 0.06 percentage points respectively [1] Cargo Operations - Cargo capacity (measured in available ton kilometers) increased by 6.75% year-on-year [1] - Cargo turnover (measured in revenue ton kilometers) rose by 8.06% year-on-year [1] - The cargo load factor was 52.48%, up by 0.64 percentage points year-on-year [1] Fleet Update - No new major routes were added in October 2025 [1] - The company introduced 4 new aircraft, including 2 A320NEO, 1 B737-8, and 1 C919, while retiring 1 A319 aircraft [1] - As of the end of October 2025, the total operational fleet consisted of 959 aircraft [1]

Core Viewpoint - China Southern Airlines reported a year-on-year increase in passenger capacity and turnover for October 2025, indicating growth in both domestic and international markets [1] Passenger Operations - Passenger capacity (measured in available seat kilometers) increased by 7.53% year-on-year, with domestic, regional, and international segments rising by 4.94%, 8.54%, and 15.29% respectively [1] - Passenger turnover (measured in revenue passenger kilometers) rose by 8.83% year-on-year, with domestic, regional, and international segments increasing by 6.78%, 8.48%, and 15.21% respectively [1] - The passenger load factor was 87.89%, up by 1.05 percentage points year-on-year, with domestic load factor increasing by 1.54 percentage points, while regional and international segments saw slight declines of 0.05 and 0.06 percentage points respectively [1] Cargo Operations - Cargo capacity (measured in available ton kilometers) increased by 6.75% year-on-year [1] - Cargo turnover (measured in revenue ton kilometers) rose by 8.06% year-on-year [1] - The cargo load factor was 52.48%, up by 0.64 percentage points year-on-year [1] Fleet Update - In October 2025, the company introduced 4 new aircraft, including 2 A320NEO, 1 B737-8, and 1 C919, while retiring 1 A319 aircraft [1] - As of the end of October 2025, the total operational fleet consisted of 959 aircraft [1]

Core Viewpoint - China Southern Airlines reported a year-on-year increase in passenger capacity and turnover for October 2025, indicating growth in both domestic and international markets [1] Passenger Operations - Passenger capacity (measured in available seat kilometers) increased by 7.53% year-on-year, with domestic, regional, and international segments rising by 4.94%, 8.54%, and 15.29% respectively [1] - Passenger turnover (measured in revenue passenger kilometers) rose by 8.83% year-on-year, with domestic, regional, and international segments increasing by 6.78%, 8.48%, and 15.21% respectively [1] - The passenger load factor was 87.89%, up by 1.05 percentage points year-on-year, with domestic load factor increasing by 1.54 percentage points, while regional and international segments saw slight declines of 0.05 and 0.06 percentage points respectively [1] Cargo Operations - Cargo capacity (measured in available ton kilometers) increased by 6.75% year-on-year [1] - Cargo turnover (measured in revenue ton kilometers) rose by 8.06% year-on-year [1] - The cargo load factor was 52.48%, up by 0.64 percentage points year-on-year [1] Fleet Update - In October 2025, the company introduced 4 new aircraft, including 2 A320NEO, 1 B737-8, and 1 C919, while retiring 1 A319 aircraft [1] - As of the end of October 2025, the total operational fleet consisted of 959 aircraft [1]

Core Viewpoint - China Southern Airlines reported an increase in passenger capacity and turnover for September 2025, indicating growth in both domestic and international markets, while regional capacity saw a decline [1] Passenger Operations - The group's passenger capacity (measured in available seat kilometers) increased by 4.43% year-on-year, with domestic and international capacity rising by 3.16% and 8.42% respectively, while regional capacity decreased by 2.22% [1] - Passenger turnover (measured in revenue passenger kilometers) rose by 5.25% year-on-year, with domestic, regional, and international turnover increasing by 4.18%, 0.74%, and 8.61% respectively [1] - The passenger load factor was 86.30%, up by 0.67 percentage points year-on-year, with domestic, regional, and international load factors increasing by 0.85, 2.32, and 0.15 percentage points respectively [1] Cargo Operations - Cargo capacity (measured in available ton kilometers) increased by 0.78% year-on-year for September 2025 [1] - Cargo turnover (measured in revenue ton kilometers) rose by 1.91% year-on-year [1] - The cargo load factor was 53.16%, up by 0.59 percentage points year-on-year [1] Fleet Update - In September 2025, the group introduced 7 new aircraft, including 2 A321NEO, 1 A320NEO, 3 B737-8, and 1 C919, while retiring 3 aircraft, including 1 A319, 1 B737-700, and 1 EMB190 [1] - As of the end of September 2025, the group operated a total of 956 transport aircraft [1]

Core Viewpoint - China Southern Airlines reported an increase in passenger capacity and turnover for September 2025, indicating a positive growth trend in both domestic and international markets [1] Passenger Operations - Passenger capacity (measured in available seat kilometers) increased by 4.43% year-on-year, with domestic and international segments rising by 3.16% and 8.42% respectively, while regional capacity decreased by 2.22% [1] - Passenger turnover (measured in revenue passenger kilometers) rose by 5.25% year-on-year, with domestic, regional, and international segments increasing by 4.18%, 0.74%, and 8.61% respectively [1] - The passenger load factor was 86.30%, up by 0.67 percentage points year-on-year, with domestic, regional, and international load factors increasing by 0.85, 2.32, and 0.15 percentage points respectively [1] Cargo Operations - Cargo capacity (measured in available ton kilometers) increased by 0.78% year-on-year [1] - Cargo turnover (measured in revenue ton kilometers) rose by 1.91% year-on-year [1] - The cargo load factor was 53.16%, up by 0.59 percentage points year-on-year [1] Fleet Update - The company introduced 7 new aircraft in September 2025, including 2 A321NEO, 1 A320NEO, 3 B737-8, and 1 C919 aircraft, while retiring 3 aircraft [1] - As of the end of September 2025, the total operational fleet consisted of 956 aircraft [1]

Core Viewpoint - China Southern Airlines reported an increase in passenger capacity and turnover for September 2025, indicating growth in both domestic and international markets, while cargo capacity showed a modest rise [1] Passenger Operations - Passenger capacity (measured in available seat kilometers) increased by 4.43% year-on-year, with domestic and international capacity rising by 3.16% and 8.42% respectively, while regional capacity decreased by 2.22% [1] - Passenger turnover (measured in revenue passenger kilometers) rose by 5.25% year-on-year, with domestic, regional, and international turnover increasing by 4.18%, 0.74%, and 8.61% respectively [1] - The passenger load factor was 86.30%, up by 0.67 percentage points year-on-year, with domestic, regional, and international load factors increasing by 0.85, 2.32, and 0.15 percentage points respectively [1] Cargo Operations - Cargo capacity (measured in available ton kilometers) increased by 0.78% year-on-year [1] - Cargo turnover (measured in revenue ton kilometers) rose by 1.91% year-on-year [1] - The cargo load factor was 53.16%, up by 0.59 percentage points year-on-year [1] Fleet Update - In September 2025, the company introduced 7 new aircraft, including 2 A321NEO, 1 A320NEO, 3 B737-8, and 1 C919, while retiring 3 aircraft, including 1 A319, 1 B737-700, and 1 EMB190 [1] - As of the end of September 2025, the total operational fleet consisted of 956 aircraft [1]

Core Insights - China Southern Airlines reported a 6.37% year-on-year increase in passenger capacity for August 2025, with domestic, regional, and international segments rising by 4.89%, 3.43%, and 11.35% respectively [1] - The passenger turnover increased by 5.97% year-on-year, with domestic, regional, and international segments growing by 4.93%, 6.04%, and 9.40% respectively [1] - The passenger load factor was 86.99%, a decrease of 0.32 percentage points year-on-year, with domestic and regional segments increasing by 0.04 and 2.07 percentage points, while international decreased by 1.52 percentage points [1] Passenger Operations - The group’s passenger capacity (measured in available seat kilometers) increased by 6.37% year-on-year [1] - The passenger turnover (measured in revenue passenger kilometers) rose by 5.97% year-on-year [1] - The passenger load factor stood at 86.99%, reflecting a slight decline [1] Cargo Operations - Cargo capacity (measured in available ton kilometers) increased by 0.90% year-on-year [1] - Cargo turnover (measured in revenue ton kilometers) rose by 5.48% year-on-year [1] - The cargo load factor was 50.83%, an increase of 2.21 percentage points year-on-year [1] Fleet Update - In August 2025, the group introduced 7 new aircraft, including 2 A321NEO, 2 A320NEO, 2 B737-8, and 1 B787-9 [1] - The group retired 5 aircraft, including 1 A319, 1 A321, 1 A330-200, and 2 B737-800 [1] - As of the end of August 2025, the group operated a total of 952 aircraft [1]

Core Viewpoint - China Southern Airlines reported an increase in passenger capacity and turnover for August 2025, with a notable rise in international operations, while cargo operations also showed growth in capacity and turnover [1] Passenger Operations - The group's passenger capacity (measured in available seat kilometers) increased by 6.37% year-on-year, with domestic, regional, and international segments rising by 4.89%, 3.43%, and 11.35% respectively [1] - Passenger turnover (measured in revenue passenger kilometers) rose by 5.97% year-on-year, with domestic, regional, and international segments increasing by 4.93%, 6.04%, and 9.40% respectively [1] - The passenger load factor was 86.99%, a decrease of 0.32 percentage points year-on-year, with domestic and regional segments increasing by 0.04 and 2.07 percentage points, while international load factor decreased by 1.52 percentage points [1] Cargo Operations - Cargo capacity (measured in available ton kilometers) increased by 0.90% year-on-year [1] - Cargo turnover (measured in revenue ton kilometers) rose by 5.48% year-on-year [1] - The cargo load factor was 50.83%, an increase of 2.21 percentage points year-on-year [1] Fleet Update - In August 2025, the group introduced 7 new aircraft, including 2 A321NEO, 2 A320NEO, 2 B737-8, and 1 B787-9, while retiring 5 aircraft, including 1 A319, 1 A321, 1 A330-200, and 2 B737-800 [1] - As of the end of August 2025, the group operated a total of 952 transport aircraft [1]

证券代码：600029 证券简称：南方航空 公告编号：临 2025-045 中国南方航空股份有限公司 2025 年 8 月主要运营数据公告 1 2025年8月，本集团引进7架飞机（包含2架A321NEO飞机、 2架A320NEO飞机、2架B737-8飞机和1架B787-9飞机），退出5 架飞机（包含1架A319飞机、1架A321飞机、1架A330-200飞机和 2架B737-800飞机）。截至2025年8月底，本集团合计运营952架 运输飞机，具体保有情况如下： | 机型 | 自行保有 | 融资租赁 | 经营租赁 | 小计 | | --- | --- | --- | --- | --- | | 空客 350 系列 | 6 | 14 | 0 | 20 | | 空客 330 系列 | 10 | 15 | 0 | 25 | | 空客 320 系列 | 151 | 102 | 142 | 395 | | 波音 787 系列 | 13 | 20 | 10 | 43 | | 波音 777 系列 | 18 | 16 | 0 | 34 | | 波音 737 系列 | 153 | 69 | 167 | 389 | | EMB1 ...