On July 10, Air China rose 3.01% in regular trading, trading at HKD 4.12/share, with turnover of HKD 50.89 million. The airline sector saw a broad recovery driven by a major cost-side catalyst.
On the news front, Saudi Aramco slashed its August official selling price for crude oil to Asian customers by USD 11 per barrel, the largest reduction in at least 26 years. Arabian Light crude is being sold at a discount for the first time since 2020, significantly alleviating jet fuel cost pressure for carriers. Goldman Sachs has raised its Q3 and Q4 airline net profit forecasts by 24% and 32% respectively, while CICC noted that aviation kerosene prices are expected to decline meaningfully in the second half, supporting cost improvement and potential ticket price recovery.
Within the Airlines sector, China Eastern Airlines rose 4.3%, China Southern Airlines rose 3.61%, and Cathay Pacific rose 1.29%, reflecting broad sector strength.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments