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<Research>BofAS Cuts TPs for 3 Major CN Airlines as Fuel Price Surges Likely to Pose Challenges This Yr
BofA Securities has released a research report predicting that China's three major airlines, AIR CHINA (00753.HK), CHINA SOUTH AIR (01055.HK), and CHINA EAST AIR (00670.HK), wi...
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<Research>BofAS Cuts TPs for 3 Major CN Airlines as Fuel Price Surges Likely to Pose Challenges This Yr
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BofA Securities has released a research report predicting that China's three major airlines, AIR CHINA (00753.HK)  +0.030 (+0.610%)    Short selling $32.81M; Ratio 23.386%   , CHINA SOUTH AIR (01055.HK)  +0.030 (+0.721%)    Short selling $8.63M; Ratio 10.119%   , and CHINA EAST AIR (00670.HK)  +0.010 (+0.255%)    Short selling $17.43M; Ratio 20.005%   , will record YoY earnings growth in 1Q26.

That being said, April saw an undesirable scene where a YoY surge of 73% in China's domestic aviation fuel prices led to an increase in domestic fuel surcharges, while fuel surcharges on international routes could be determined individually by airlines.

Related News DBS Cuts CHINA SOUTHERN AIRLINES (01055.HK) TP to HKD3.4 as Jet Fuel Price Surge Triggers Temporary Profit Reversal
In BofA Securities' opinion, leisure travelers are relatively price-sensitive, even though fuel surcharges can pass through rising fuel costs. Considering competition from high-speed rail, there is a risk to base fares excluding fuel surcharges. Nevertheless, the downside for base fares excluding fuel surcharges is expected to be limited amid constrained capacity growth and rising cancellation rates.

BofA Securities has reiterated a Buy rating on AIR CHINA with a target price cut from HKD8.3 to HKD6.7, a Neutral rating on CHINA SOUTH AIR with a target price lowered from HKD5.92 to HKD4.9, and an Underperform rating on CHINA EAST AIR with a target price trimmed from HKD2.9 to HKD2.7.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-10 16:25.)

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