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On August 15, several airlines released their main operating data for July.

China Eastern Airlines passenger turnover increased by more than 20% year-on-year

China Eastern Airlines announced that the company's passenger capacity investment (measured in available seat kilometers) in July increased by 17.14% year-on-year to 115.57% of the same period in 2019; passenger turnover (measured in passenger kilometers) increased by 24.25% year-on-year to 117.3% of the same period in 2019; and the passenger load factor was 83.18%, an increase of 4.76 percentage points year-on-year. China Southern Airlines announced that the group's passenger capacity investment (measured in available seat kilometers) in July increased by 12.13% year-on-year; passenger turnover (measured in revenue passenger kilometers) increased by 16.07% year-on-year; and the passenger load factor was 83.77%, an increase of 2.84 percentage points year-on-year. HNA Holdings announced that the group's revenue passenger kilometers increased by 28.74% month-on-month and 15.86% year-on-year in July; passenger traffic increased by 26.84% month-on-month and 9.32% year-on-year; passenger capacity investment (measured in available passenger kilometers) increased by 25.96% month-on-month and 16.3% year-on-year.

The agency said this yearAirline profits will continue to break through sharply

On the market, as of today's closing, China Southern Airlines and HNA Holdings both rose slightly, while China Eastern Airlines closed flat.

China Securities Co., Ltd. stated that the industry's recovery trend this year is positive, and flight operation efficiency continues to improve. With the continued recovery of international routes, the supply and demand pattern of the entire industry is expected to continue to improve, and the performance of airlines is expected to continue to improve.

Guosen Securities stated that my country's civil aviation supply and demand gap will continue to narrow in 2024, airlines' willingness to compete on price will be weak, and airline profits will continue to break through significantly in 2024.

China Post Securities believes that civil aviation supply constraints will remain strong from 2024 to 2026. As the economy gradually recovers, the supply and demand relationship in civil aviation is expected to continue to improve, raising the industry's profitability.