Aviation Stocks Show Weak Performance as Middle East Tensions Fuel Oil Price Volatility; Bank of America Lowers Profit Forecasts for Major Carriers

Stock News04-09 13:49

Aviation stocks experienced a downturn in trading. As of the latest update, CHINA SOUTH AIR (01055) fell 3.04% to HK$4.15; AIR CHINA (00753) dropped 2.77% to HK$4.92; CATHAY PAC AIR (00293) declined 2.26% to HK$11.70; and CHINA EAST AIR (00670) decreased 1.49% to HK$3.96.

Market sentiment was influenced by ongoing uncertainties in the Middle East, which have contributed to volatile international oil prices. Recent developments include a statement from former U.S. President Donald Trump on social media on the 8th, indicating that U.S. military assets would remain near Iran until a "real agreement" is fully implemented.

A research report from Bank of America Securities noted expectations that the three major mainland airlines—AIR CHINA, CHINA SOUTH AIR, and CHINA EAST AIR—would report year-on-year profit growth for the first quarter. However, domestic aviation fuel prices in China surged 73% year-on-year in April, leading to an increase in fuel surcharges. While these surcharges can partially offset rising fuel costs, leisure travelers remain price-sensitive.

As a result, the bank has revised down its full-year net profit forecasts for the three major carriers, projecting net losses of approximately RMB 5.7 billion for AIR CHINA, RMB 7.1 billion for CHINA EAST AIR, and RMB 3.8 billion for CHINA SOUTH AIR.

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As of the latest update, CHINA SOUTH AIR (01055) fell 3.04% to HK$4.15; AIR CHINA (00753) dropped 2.77% to HK$4.92; CATHAY PAC AIR (00293) declined 2.26% to HK$11.70; and CHINA EAST AIR (00670) decreased 1.49% to HK$3.96.</p>\n<p>Market sentiment was influenced by ongoing uncertainties in the Middle East, which have contributed to volatile international oil prices. Recent developments include a statement from former U.S. President Donald Trump on social media on the 8th, indicating that U.S. military assets would remain near Iran until a \"real agreement\" is fully implemented.</p>\n<p>A research report from Bank of America Securities noted expectations that the three major mainland airlines—AIR CHINA, CHINA SOUTH AIR, and CHINA EAST AIR—would report year-on-year profit growth for the first quarter. However, domestic aviation fuel prices in China surged 73% year-on-year in April, leading to an increase in fuel surcharges. 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