Caitong Securities released a research report saying that on the supply side, due to upstream aircraft manufacturers facing bottlenecks in the recovery of production capacity, the bank determined that supply in the aviation industry was tightening in the medium to long term, and that the supply of freighters was more scarce than passenger aircraft. On the demand side, China's export boom is driving the growth in freight demand. Among them, demand for cross-border e-commerce parcels is resilient; the surge in demand in the AI industry chain provides increments for air transport, supports high freight rates, and is expected to stabilize; passenger demand is resilient in the medium to long term, and if fuel surcharges fall, it is expected to further stimulate the release of travel demand. Continued improvement in the medium- to long-term supply and demand pattern in the aviation industry will support rising freight rates. If oil prices fall, profit flexibility is expected to show.

Caitong Securities released a research report saying that on the supply side, due to upstream aircraft manufacturers facing bottlenecks in the recovery of production capacity, the bank determined that supply in the aviation industry was tightening in the medium to long term, and that the supply of freighters was more scarce than passenger aircraft. On the demand side, China's export boom is driving the growth in freight demand. Among them, demand for cross-border e-commerce parcels is resilient; the surge in demand in the AI industry chain provides increments for air transport, supports high freight rates, and is expected to stabilize; passenger demand is resilient in the medium to long term, and if fuel surcharges fall, it is expected to further stimulate the release of travel demand. Continued improvement in the medium- to long-term supply and demand pattern in the aviation industry will support rising freight rates. If oil prices fall, profit flexibility is expected to show.