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| HSCEI1 | 8,450.10 | -12.54 | 66.58B |
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2026-09-02 17:39:18 China's top three airlines charted combined losses of about RMB8 billion in 1H26, comprising of losses of RMB13 billion in 2Q26 alone, HSBC Global Investment Research said in a report. Although revenue lifted 10-11% and yields hiked 5% YoY, fuel costs surged 35-38%. Coupled with a lack of pricing power preventing carriers from passing on higher costs, losses widened further. Even after intervention by the NDRC, fuel costs still fully offset revenue growth. Without the price cap, losses in 1H would have expanded by more than RMB3 billion further, the broker estimated. HSBC Research axed the TP for AIR CHINA (00753.HK) by 13% from HKD4.6 to HKD4 and maintained a Hold rating. The TP for CHINA SOUTH AIR (01055.HK) was lowered by 11% from HKD3.6 to HKD3.2 with Hold maintained. CHINA EAST AIR (00670.HK) was downgraded from Hold to Underweight, while its TP was slashed 43% from HKD3.5 to HKD2. ~ AASTOCKS Financial News Website: www.aastocks.com | |