The Zhitong Finance App learned that aviation stocks rose collectively. As of press release, Air China (00753) rose 3.58% to HK$3.62; Beijing Capital Airport (00694) rose 3.26% to HK$1.425; China Eastern Airlines (00670) rose 3.25% to HK$2.38; and China Southern Airlines (01055) rose 2.94% to HK$2.80.
According to the news, high fuel costs continue to eat away at airline profits. In the first three quarters of this year, Air China, China Eastern Airlines, and China Southern Airlines had net losses of 2,015 billion yuan, 2,115 billion yuan, and 4.305 billion yuan respectively. The total loss was still about 8.435 billion yuan. Among them, in the third quarter of a single quarter, Air China and China Eastern Airlines achieved net profit of 271 million yuan and 64 million yuan respectively, down 92.64% and 98.19% year-on-year respectively; China Southern Airlines recorded net losses of 609 million yuan to mother.
It is worth noting that international oil prices suddenly dived today, and oil once fell below the 110 US dollar mark. According to reports, according to CCTV news reports, on November 1, local time, the Qatari mediator held talks with Iranian negotiators for the third day in a row to facilitate an agreement between the US and Iran. Cathay Pacific Haitong Securities pointed out that since September, the airline's business strategy has improved compared to the summer season. In October, volume control and insurance promoted a year-on-year correction in ticket prices. It is expected that the new season will continue and help spread fuel prices. The fall in oil prices will open up a profit center rise and long-term logical interpretation.