航空股普涨 中国南方航空(01055)涨5.36% 机构指油价回落则航空板块具较大修复弹性

金吾财讯
Jul 27

金吾财讯 | 国际油价大幅回落,推动港股航空股盘初普涨,截至发稿,中国南方航空股份(01055)涨5.36%,中国国航(00753)涨4.91%,中国东方航空股份(00670)涨4.56%,国泰航空(00293)涨3.13%,北京首都机场股份(00694)涨1.20%。消息面上,布伦特油周一亚洲股市交易阶段,跌破90美元/桶关口,现报87.96美元/桶,下跌5.59%;WTI原油现报83.98美元/桶,下跌5.84%。中银证券新近研究指,二季度航空煤油价格大幅上涨,大幅挤压航司利润空间,行业整体盈利承压。二季度航司运力投放呈现分化格局,春秋航空持续增投运力,三大航淡季适度收缩航班量,但二季度航油价格上涨阶段性压缩盈利空间。机场板块走势分化,整体客运增速平缓,货运业务依托国际航线复苏保持高增长,具备货运优势的机场盈利韧性较强,深圳机场上半年业绩同比大幅增长。该机构建议关注暑运航空与高铁出行板块投资机会。万联证券研究认为,受航油价格上行影响,航司运力收缩,需求短期受到一定抑制,但客座率维持高位,票价高位运行,今年暑运市场核心逻辑从“拼运力、抢份额”向“控总量、提效益”转变,暑运旺季有望支撑短期出行量和票价,但短期仍需关注美伊局势对油价的影响,当前板块估值处于历史低位,如下半年油价回落,压制航空股的核心因素缓解,板块具有较大修复弹性,建议积极关注。

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