2025年10月22日，中国天津正式启用第二条A320系列飞机总装线，新设施计划于2026年初全面投入运 营。路透社援引傅里的观点称，天津第二条总装线将融入空中客车公司全球生产网络，为公司提供更大 的生产灵活性与产能保障，助力实现2027年A320系列飞机月产量75架的目标。 【文/观察者网 邓军 编辑/赵乾坤】 综合路透社、国际航空业媒体Simple Flying报道，北京时间12月29日晚，春秋航空（601021.SH）与吉 祥航空（603885.SH）分别发布公告，宣布计划向空中客车公司采购A320系列飞机。其中，春秋航空拟 购入30架A320neo系列飞机，目录价格约为41.28亿美元（约合288.56亿元人民币）；吉祥航空计划采购 25架A320系列飞机，目录价格约41亿美元（约合286.60亿元人民币）。这批飞机的交付周期预计集中在 2028年至2032年，目前交易尚需提交两家航空公司股东大会审议，并获得中国相关部门批准。 Simple Flying分析指出，两家中国航司的最新举措向国际民航业传递出一个明确信号：中国航空市场依 然保持强劲活力，覆盖了从低成本运营到全方位服务的各细分领域。市场普遍预 ...

Airbus SE - Airbus SE is under pressure to meet its 2025 delivery target of approximately 820 aircraft, having delivered 507 jets by September, requiring 313 additional deliveries in the last quarter [2][7] - The company faces challenges due to supply chain disruptions, particularly in engine supply from manufacturers like CFM International and Pratt & Whitney, leading to a backlog of undelivered aircraft [2][7] - Despite these challenges, Airbus executives express cautious optimism about achieving the target, citing signs of recovery in engine supply [3] - Airbus reported robust third-quarter earnings, driven by strong performance in its defense and space unit [3] - The company secured a significant order for 100 A321neo aircraft from Vietjet Air, indicating strong global demand for fuel-efficient jets [3] - Airbus is advancing plans to consolidate its space business with rivals Thales and Leonardo to enhance competitiveness [3] Dorad Energy Ltd. - Dorad Energy Ltd., an indirect holding of Ellomay Capital Ltd., reported a loss for the three months ended June 30, 2025, primarily due to an increase of approximately NIS 72.7 million in financing expenses [5] - The surge in financing expenses was largely attributed to NIS/USD exchange rate differences affecting USD-denominated deposits [5] - Dorad's revenues in June 2025 decreased by approximately 22% compared to the same month in the previous year, influenced by ongoing military operations [5] - As of July 22, 2025, Ellomay Luzon Energy increased its indirect share in Dorad to approximately 16.9% by acquiring an additional 15% of Dorad's share capital [5]

来源：环球时报 航展期间，中国商飞与沙特方面的深度接触引人关注。据悉，沙特航空集团正探讨在吉达建立C919总 装线的可能性。如果可以落地，这将是中国高端制造"借船出海"的典范：沙特获得工业能力跃升，中国 商飞则能规避贸易壁垒，并为C919赢得阿拉伯世界的"本地通行证"。同时，中国商飞宣布与港机集团 及利勃海尔航空合作，构建全球维修网络，体现了"兵马未动，粮草先行"的体系化布局。 然而，在喝彩之余，必须清醒认识到，中国大飞机国际化之路并非一片坦途。首要障碍是适航认证。今 年4月，欧洲航空安全局高层表示，C919的认证可能还需3到6年，这意味着2030年前难以大规模进入欧 美主流市场。这背后既有技术标准对接的客观原因，也难免夹杂着西方"技术壁垒"的考量。 产能爬坡和供应链安全同样面临挑战。受发动机等关键部件供应限制，C919的交付速度仍有待提升。 中国航空发动机的研发进展，尤其是CJ-1000A的成熟进程，将直接影响大飞机的未来。在西方供应链 的夹缝中保持生产连续性，极度考验中国商飞的智慧。 当一架涂装鲜明的C919客机在沙漠上空优雅地完成盘旋并平稳降落在阿联酋迪拜阿勒马克图姆国际机 场的跑道上时，这不仅仅是一次 ...

Core Insights - Airbus SE signed a memorandum of understanding with flydubai for 150 A321neo commercial aircraft to support the airline's network expansion strategy, enhancing efficiency and passenger comfort [1][10] Aircraft Features and Demand - The A321neo is a widely used single-aisle aircraft, featuring advanced engines and Sharklet wingtip devices, achieving up to 20% lower fuel burn and CO2 emissions compared to previous models, with a range of 4,000 nautical miles (7,400 km) [2][3] - The aircraft typically accommodates 180 to 220 passengers in a two-class configuration and up to 244 in a high-density layout, with over 7,200 orders from nearly 100 customers worldwide as of October 2025 [3] Market Outlook - Rising air passenger traffic and demand for modern, fuel-efficient aircraft are driving growth in the commercial aviation market [4] - Airbus projects a demand for 43,420 new aircraft deliveries over the next 20 years, indicating potential for solid long-term revenue gains [5] Competitor Analysis - Boeing, a major player in commercial aircraft manufacturing, has over 14,000 aircraft in service and delivered 160 commercial aircraft in Q3 2025, with a long-term earnings growth rate of 20.67% [6][7] - Embraer, another significant manufacturer, delivered 20 new commercial jets in Q3 2025, with a long-term earnings growth rate of 14.32% [8] Airbus Performance - As of October 2025, Airbus delivered 585 commercial aircraft to 85 customers globally, with shares rising 29.5% over the past six months compared to the industry's growth of 6.3% [5][11]

Core Viewpoint - Boeing responded to the competitive pressure at the Dubai Airshow by securing a provisional order for 75 of its 737 MAX jets from flydubai, following flydubai's order of 150 A321neo jets from a competitor [1] Group 1 - Boeing's provisional order for 75 737 MAX jets indicates a strategic move to maintain its market position against competitors [1] - The order from flydubai highlights the ongoing competition between Boeing and Airbus in the commercial aircraft market [1] - The timing of Boeing's announcement, a day after flydubai's significant order for A321neo jets, underscores the urgency for Boeing to respond to market dynamics [1]

Market Overview - US stock index futures are all down, with Dow futures down 0.63%, S&P futures down 0.54%, and Nasdaq futures down 0.67% [1] - Major European stock indices are also down over 1%, with the Euro Stoxx 50 down 1.49%, FTSE 100 down 1.39%, CAC 40 down 1.45%, and DAX 30 down 1.5% [1] - WTI crude oil is down 0.07% at $59.82 per barrel, while Brent crude oil is down 0.12% at $64.12 per barrel [1] - Spot gold has fallen below $4000 per ounce for the first time since November 10, dropping over 1% [1] Company News - Cloudflare is experiencing global network service issues, leading to a pre-market drop of 4% in its stock price [1] - Pinduoduo reported a net profit of 29.33 billion yuan for Q3 2025, resulting in a pre-market increase of 3.6% [1] - Baidu's total revenue for Q3 2025 is 31.2 billion yuan, with a pre-market rise of over 2.5% [1] - Honda is recalling 256,600 Accord hybrid vehicles in the US due to a software fault that may cause loss of control while driving [1] - Goldman Sachs is set to acquire the Japanese Burger King business from Affinity Equity [1] Economic Data and Events - Upcoming economic data includes the US October import price index month-on-month at 21:30, October industrial production month-on-month at 22:15, and the November NAHB housing market index at 23:00 [1] - Federal Reserve Governor Cook is expected to address bank regulation issues, while Federal Reserve officials will discuss economic outlooks [1]

Group 1 - Airbus has secured a procurement agreement with Dubai Airlines for 150 A321neo aircraft, marking a significant win against Boeing, which has traditionally dominated the Middle Eastern aviation market [1] - The memorandum of understanding was announced at the Dubai Airshow, where Boeing had previously signed a deal with Emirates Airlines for 65 777X wide-body aircraft [1] - The acquisition of Dubai Airlines' operations is a strategic victory for Airbus, as Boeing still holds a dominant position in the wide-body aircraft sector in the region [1] Group 2 - Airbus also reached a supplementary order agreement with Etihad Airways for A330neo models and additional A350-1000 long-range aircraft [2] - However, the anticipated order for A350-1000 from Emirates Airlines did not materialize, as the airline's president expressed that there is currently no demand for the aircraft due to engine technical requirements [2]

Group 1 - The core viewpoint of the news is that Bohai Leasing reported significant revenue growth in the first three quarters of the year, driven by aircraft sales and leasing, despite a one-time impairment loss affecting net profit [2] - Bohai Leasing achieved operating revenue of 40.284 billion yuan, a year-on-year increase of 60.58% [2] - The company reported a net profit attributable to shareholders of -1.372 billion yuan, but after excluding the impairment impact, the net profit was 1.904 billion yuan, reflecting a year-on-year growth of 19.75% [2] Group 2 - The growth in operating revenue was primarily due to increased income from aircraft sales and leasing, with the aviation industry facing supply chain shortages and an active aircraft sales market [2] - Avolon, a subsidiary of Bohai Leasing, completed the sale of 15 aircraft and has 60 aircraft agreed for sale but not yet delivered as of the end of the third quarter [2] - The global demand for air passenger transport has remained strong since 2025, contributing to high aircraft market values, leasing rates, and renewal rates [2] Group 3 - Cirium's latest fleet forecast indicates that 46,500 aircraft will be delivered globally over the next 20 years, with a total value of 3.4 trillion USD, presenting growth opportunities for Bohai Leasing [3] - Avolon signed a procurement agreement with Airbus for 75 A321neo and 15 A330neo aircraft, expected to be delivered by the end of 2033 [3] - Avolon’s fleet size reached 1,159 aircraft, including 522 on order, making it the leasing company with the most aircraft orders [3] Group 4 - Credit ratings for Avolon were upgraded by Fitch and Moody's, with Fitch raising the issuer rating from "BBB-" to "BBB" and Moody's from "Baa3" to "Baa2," both with stable outlooks [3] - S&P also improved Avolon's rating outlook from "stable" to "positive" while maintaining a "BBB-" issuer rating [3]

Core Viewpoint - Boeing has not developed a new commercial airplane since the 787 Dreamliner in 2004 and is now considering a clean-sheet design to replace the aging 737, which has undergone four generations of modifications since 1967 [1][3][5]. Group 1: Current Developments - Boeing's 737 narrowbody aircraft is crucial for short and mid-range flights, capable of carrying up to 220 passengers depending on the model [2]. - At a recent conference, Boeing leadership downplayed the imminent launch of a new aircraft design, indicating that while they are exploring new technologies, they are not close to launching a new airplane [3][4]. - Analysts suggest that Boeing's long-term competitiveness relies on developing a new narrowbody aircraft and securing a next-generation engine [3][5]. Group 2: Leadership and Strategy - Boeing's CEO Kelly Ortberg, who took over in August 2024, is seen as a catalyst for positive changes within the company, focusing on quality and operational improvements [6][11]. - Analysts have upgraded Boeing's rating to "buy," citing improvements in operational performance and a renewed focus on quality under Ortberg's leadership [11]. Group 3: Production and Certification Challenges - Boeing faces immediate challenges, including the certification of three unfinished aircraft models and the need to rebuild investor confidence through enhanced production and cash flow [4][19]. - The company has a backlog of over 6,000 jets to deliver, and it is currently focused on certifying its 777X and Max models [21]. Group 4: Future Aircraft Development - A new Boeing aircraft is unlikely to be operational for at least a decade, with industry experts suggesting that a new design announcement could occur within the next three years [5][6]. - The development of a new engine is critical for any new aircraft, with Rolls-Royce pitching a new powerplant to Boeing, which may signal a shift from its long-standing partnership with CFM International [16][17]. - The introduction of new engine technologies is essential to achieve the expected 15-20% fuel efficiency improvements for next-generation single-aisle aircraft [18]. Group 5: Competitive Landscape - Boeing's competitors, including Airbus and emerging startups like Natilus, are also eyeing the narrowbody market, which is projected to see significant demand in the coming decades [14][15].

Core Insights - Aviation Capital Group LLC (ACG) has delivered one A321neo aircraft to Wizz Air, marking the ninth aircraft in a series of deliveries as part of a sale-leaseback transaction [1] Company Overview - ACG is recognized as a premier global full-service aircraft asset manager, specializing in commercial aircraft leasing and aviation finance [1] Transaction Details - The A321neo delivered is powered by Pratt & Whitney GTF engines, which are noted for their ultra-efficiency [1] - The delivery is part of a multiple-aircraft sale-leaseback transaction between ACG and Wizz Air [1]