航空行业更新报告:暑运旺季表现偏弱 关注公商需求恢复

国泰海通证券
Jul 31

本报告导读:2025Q2 航空供需稳中向好,行业实现大幅减亏。暑运公商务意外走弱致票价不及预期。提示短期需求波动不改航空长逻辑,“反内卷”有望三重受益。逆向布局航空。投资要点:2025Q2:航空 供需稳中向好,行业实现大幅减亏。1)Q2国内供给保持低增:上半年行业新引进飞机107 架,净增仅52 架(2024 年底在册4394 架);受益周转继续提升,估算行业ASK 同比增长6.7%。上半年三大航...

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