---
title: "国泰海通证券：航空暑运迎首个客流高峰 票价盈利同比上升可期"
description: "国泰海通证券研报指出，随着暑运的到来，客流量和票价预计将同比上升。受中小学放假影响，客座率保持增长，国内票价快速上升。尽管暑运加班受限，但亲子游需求旺盛，供需预期乐观。考虑到 7 月航油出厂价同比下降 13%，暑运盈利表现可期。未来两年供需将持续向好，建议关注油价波动以布局航空投资。"
type: "news"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/247520507.md"
published_at: "2025-07-07T14:56:10.000Z"
---

# 国泰海通证券：航空暑运迎首个客流高峰 票价盈利同比上升可期

> 国泰海通证券研报指出，随着暑运的到来，客流量和票价预计将同比上升。受中小学放假影响，客座率保持增长，国内票价快速上升。尽管暑运加班受限，但亲子游需求旺盛，供需预期乐观。考虑到 7 月航油出厂价同比下降 13%，暑运盈利表现可期。未来两年供需将持续向好，建议关注油价波动以布局航空投资。

国泰海通证券研报表示，随中小学放假，近日暑运迎来首个高峰，预计客座率保持同比上升，国内票价快速上升。预计暑运加班受限而亲子游旺盛，供需预期乐观，料客座率与票价同比上升。考虑 7 月航油出厂价同比下降 13%，暑运盈利表现可期。中国航空已进入供给低增时代，需求自 4 月以来持续好于市场担忧，未来两年供需将继续向好，油价下行票价修复将加速盈利恢复与中枢上升。建议把握油价波动布局航空长逻辑。

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