Lates News

CITIC Securities research report stated that the demand for travel during the May Day holiday in 2025 is strong. The Ministry of Culture and Tourism expects that the number of domestic tourists will exceed 350 million, an increase of over 15% compared to the previous year. According to the statistics of the Ministry of Transport, the number of people traveling between regions in the first three days of the holiday increased by 4.9% year-on-year. Among them, the number of passengers in civil aviation and railways increased by 12.5% and 10.5% respectively, both exceeding expectations before the holiday. The utilization rate of air transport during the holiday has reached a historical high. On May 1st, the utilization rate of narrow-body aircraft increased by 0.7 hours compared to 2019, benefiting from limited supply and optimized revenue strategies by airlines, leading to a more stable price environment. The average ticket price during the holiday is expected to decrease by less than 5% year-on-year, according to the research report. Meanwhile, stimulated by visa-free policies, cross-border tourism is heating up in both directions. The recovery rate of international flights in the first three days of the holiday has reached 91%, indicating a promising performance for civil aviation during the summer peak season. The disruptions in Boeing deliveries will further limit supply increase, and the research report predicts that the net fleet growth rate in 2025 may decrease to 1%-2%, combined with expectations of lower oil prices, providing strong support for airline performance. It is expected that pro-cyclical and consumption-promoting policies will transmit to the demand side of the aviation industry.