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港股異動丨航空股拉昇 南方航空升超5% 券商指航空票價有望繼續好轉
格隆匯 03-05 10:18
港股航空股集體拉昇,其中,中國南方航空升超5%,中國國航升超4%,美蘭空港、國泰航空升超2%,中國東方航空升1.9%。華泰證券表示,航空票價有望繼續好轉,機場關注治理改善個股春運40天民航旅客量穩步增長,同比提升7.4%,稍高於全社會跨區域人員流動量的同比增速7.1%,體現出民航在較長假期因私出行需求的韌性。票價方面,由於24年基數相對較高,以及25年春運出行需求相對分散,使得25年春運整體收益水平表現較弱。不過2024年春運尾聲航司逐漸開始降價促銷,基數下降使得票價同比降幅收窄,往後展望低基數下票價同比有望轉正,逐步兑現行業供需改善邏輯。該行指中長期民航供給增速放緩有望延續,為航司收益水平改善提供支撐。機場盈利爬升較為緩慢,PE估值水平仍需要時間消化,公司治理邊際存在改善的個股更具中長期投資價值。(格隆匯)

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