Changes in Hong Kong stocks | Aviation stocks are generally falling, and the airline business environment in the fourth quarter is still under pressure against the backdrop of high oil prices and weakening demand

The Zhitong Finance App learned that aviation stocks generally declined. As of press release, China Eastern Airlines (00670) fell 4.3% to HK$2.56; Air China (00753) fell 2.67% to HK$3.83; China Southern Airlines (01055) fell 2.3% to HK$2.98; and Cathay Pacific (00293) fell 1% to HK$14.9.

According to the news, HSBC Research released a research report saying that during the peak travel season in the past three quarters, due to sharp increases in fuel costs and weak pricing capacity, the quarterly profits of mainland China's top three airlines almost evaporated, overshadowing the fact that passenger carrying rates are still resilient. The bank pointed out that the revenue of the three major airlines increased by 2% to 8% year-on-year in the last quarter, but the ex-factory price of aviation kerosene in mainland China increased by 42% year-on-year, leading to an increase in operating expenses of 14% to 18%. All three major airlines recorded operating losses.

HSBC Research also said that airline data weakened in October, and the business environment for the fourth quarter was still under pressure due to high oil prices and weakening demand. Profit forecasts were lowered accordingly. The total loss of the three major aviation stocks in the fourth quarter is expected to reach about 11.7 billion yuan, with a total loss of 11.9 billion yuan in the second half of the year.