Core Insights - The overall passenger turnover volume of multiple listed airlines has shown significant growth in October, indicating a potential improvement in industry conditions for the fourth quarter [1][4]. Group 1: China National Airlines - In October 2025, China National Airlines reported a year-on-year increase in combined passenger turnover volume (measured in revenue passenger kilometers) of 8.7% [1]. - Passenger capacity input (measured in available seat kilometers) increased by 4.3% year-on-year, with domestic capacity up by 3.2% and international capacity up by 7.5% [1]. - The average passenger load factor reached 85.3%, an increase of 3.4 percentage points year-on-year [1]. Group 2: China Eastern Airlines - China Eastern Airlines announced a year-on-year increase in passenger capacity input of 6.84% and a passenger turnover volume increase of 10.58% for October 2025 [2]. - The passenger load factor was reported at 87.52%, up by 2.97 percentage points year-on-year [2]. - Cargo turnover volume increased by 14.59% year-on-year [2]. Group 3: China Southern Airlines and Hainan Airlines - China Southern Airlines reported a 7.53% increase in passenger capacity input, with passenger turnover volume rising by 8.83% in October 2025 [3]. - The passenger load factor was 87.89%, an increase of 1.05 percentage points year-on-year [3]. - Hainan Airlines reported a 6.81% increase in passenger capacity input and a 7.33% increase in revenue passenger kilometers [3]. Group 4: Industry Outlook - According to a recent report by Cinda Securities, high passenger load factors and recovering ticket prices are expected to contribute to a rebound in travel demand in the fourth quarter [4]. - The airline industry has seen sustained high load factors and a recovery in ticket prices, which is anticipated to enhance airline revenue per seat [4]. - The implementation of "anti-involution" measures is expected to reduce malicious low pricing, further supporting ticket price recovery and airline profitability [4].

Group 1 - Multiple listed airlines reported significant growth in passenger turnover and high load factors for October, indicating a potential improvement in industry conditions for Q4 [1][2][3] - Air China announced a year-on-year increase of 8.7% in passenger turnover and a 4.3% rise in capacity input, with an average load factor of 85.3%, up 3.4 percentage points [1] - China Eastern Airlines reported a 10.58% increase in passenger turnover and a 6.84% rise in capacity input, achieving a load factor of 87.52%, up 2.97 percentage points [2] Group 2 - China Southern Airlines disclosed a year-on-year increase of 8.83% in passenger turnover and a 7.53% rise in capacity input, with a load factor of 87.89%, up 1.05 percentage points [2] - Hainan Airlines reported a 7.33% increase in passenger turnover and a 6.81% rise in capacity input, with cargo revenue ton-kilometers increasing by 25.37% [3] - Recent reports indicate high load factors and positive ticket pricing trends, suggesting a recovery in travel demand and potential profitability for airlines in Q4 [3]

Core Insights - The overall passenger turnover volume of listed airlines has shown significant growth, indicating a potential improvement in industry conditions for the fourth quarter [1][2][3][4] Group 1: Airline Performance Data - Air China reported a 4.3% increase in passenger capacity and an 8.7% increase in passenger turnover for October 2025, with an average load factor of 85.3%, up 3.4 percentage points year-on-year [1] - China Eastern Airlines announced a 6.84% increase in passenger capacity and a 10.58% increase in passenger turnover for October 2025, achieving a load factor of 87.52%, up 2.97 percentage points year-on-year [2] - China Southern Airlines reported a 7.53% increase in passenger capacity and an 8.83% increase in passenger turnover for October 2025, with a load factor of 87.89%, up 1.05 percentage points year-on-year [3] - Hainan Airlines indicated a 6.81% increase in passenger capacity and a 7.33% increase in passenger turnover for October 2025, with cargo revenue ton-kilometers increasing by 25.37% [3] Group 2: Market Trends and Outlook - The airline industry is experiencing high load factors and a recovery in ticket prices, with expectations for improved travel demand in the fourth quarter [4] - The implementation of measures to reduce aggressive pricing strategies is anticipated to support ticket price recovery, further enhancing airline revenue per seat [4] - A decline in oil prices is expected to lower operational costs for airlines, potentially leading to increased profitability [4]

证券代码：600221、900945 证券简称：海航控股、海控 B 股 编号：临 2025-104 海南航空控股股份有限公司 2025 年 10 月主要运营数据公告 临时公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 2025 年 10 月，海南航空控股股份有限公司及所属子公司（以下简称"本集团"） 合并主要运营数据如下： | 载运量 | 年 2025 10 | 月 | 年累计 2025 | | | --- | --- | --- | --- | --- | | 数值 | | 同比变动（%） | 数值 | 同比变动（%） | | 收入客公里（RPK）（百万） | | | | | | 国内 | 9197.70 | 3.15 | 91388.28 | 2.58 | | 地区 | 21.00 | -11.07 | 245.88 | 32.21 | | 国际 | 2434.93 | 27.01 | 22190.05 | 45.18 | | 合计 | 11653.62 | 7.33 | 113824.21 | 8.86 | | 收 ...

Core Viewpoint - HNA Group announced the introduction of new aircraft and reported significant growth in passenger and cargo metrics for October 2025 [1] Aircraft Fleet Expansion - The company will introduce 1 A330NEO, 1 A321NEO, and 2 737-8MAX aircraft by October 2025 [1] - By the end of October 2025, the total operational fleet will reach 358 aircraft [1] Passenger Metrics - Passenger capacity (measured in available seat kilometers) increased by 6.81% year-on-year in October 2025 [1] - Revenue passenger kilometers grew by 7.33% year-on-year [1] - The number of passengers transported rose by 3.59% year-on-year [1] Cargo Metrics - Cargo and mail revenue ton kilometers increased by 25.37% year-on-year [1] - Cargo and mail volume grew by 20.07% year-on-year [1] - The cargo and mail load factor improved by 4.37 percentage points [1]

Group 1 - The company HNA Holding (600221.SH) announced the introduction of new aircraft, including one A330NEO, one A321NEO, and two 737-8MAX by October 2025 [1] - By the end of October 2025, the total number of aircraft operated by the company will reach 358 [1] - In October 2025, the company's passenger capacity (measured in available seat kilometers) increased by 6.81% year-on-year, while revenue passenger kilometers grew by 7.33% [1] Group 2 - The number of passengers transported by the company increased by 3.59% year-on-year [1] - Cargo and mail revenue ton-kilometers rose by 25.37%, with cargo and mail volume increasing by 20.07% [1] - The cargo and mail load factor improved by 4.37 percentage points [1]

Core Viewpoint - HNA Group announced the introduction of new aircraft and reported significant growth in passenger and cargo metrics as of October 2025 [1] Aircraft Fleet Expansion - The company will introduce 1 A330NEO, 1 A321NEO, and 2 737-8MAX aircraft by October 2025, bringing the total operational fleet to 358 aircraft [1] Passenger Metrics - Passenger capacity (measured in available seat kilometers) increased by 6.81% year-on-year in October 2025 [1] - Revenue passenger kilometers grew by 7.33% year-on-year [1] - The number of passengers transported rose by 3.59% year-on-year [1] Cargo Performance - Cargo and mail revenue ton kilometers increased by 25.37% year-on-year [1] - Cargo and mail volume grew by 20.07% year-on-year [1] - The cargo and mail load factor improved by 4.37 percentage points [1]

Core Viewpoint - HNA Group announced the introduction of one A321NEO aircraft and the retirement of one B737-800 aircraft by September 2025, resulting in a total fleet of 354 aircraft by the end of September 2025 [1] Operational Performance - Passenger capacity (measured in available seat kilometers) increased by 5.84% year-on-year as of September 2025 [1] - Revenue passenger kilometers grew by 7.04% year-on-year [1] - Passenger traffic volume rose by 2.53% year-on-year [1] - Load factor improved by 0.96 percentage points [1] Cargo Performance - Cargo and mail revenue ton kilometers increased by 23.42% year-on-year [1] - Cargo and mail volume grew by 15.96% year-on-year [1] - Cargo and mail load factor improved by 10.72 percentage points [1] New Routes - New route from Chongqing to Haikou to Auckland launched on September 13, operating two flights per week [1] - New route from Changchun to Haikou to Singapore launched on September 21, operating four flights per week [1] - New route from Haikou to Jakarta launched on September 26, operating four flights per week [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]

海南航空控股股份有限公司 2025 年 9 月主要运营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 临时公告 证券代码：600221、900945 证券简称：海航控股、海控 B 股 编号：临 2025-094 2025 年 9 月，海南航空控股股份有限公司及所属子公司（以下简称"本集团"） 合并主要运营数据如下： | 载运量 | 年 2025 9 | 月 | 年累计 2025 | | | --- | --- | --- | --- | --- | | 数值 | | 同比变动（%） | 数值 | 同比变动（%） | | 收入客公里（RPK）（百万） | | | | | | 国内 | 8828.98 | 3.48 | 82190.58 | 2.51 | | 地区 | 24.82 | 2.29 | 224.88 | 38.50 | | 国际 | 2294.39 | 23.47 | 19755.12 | 47.79 | | 合计 | 11148.19 | 7.04 | 102170.59 | 9.03 | | 收入吨公里（ ...