Galaxy Securities: In March, civil aviation passenger travel volume remained on an upward trajectory, and the off-peak season staying strong is expected to continue through the April policy incremental window.

People’s Finance Network, April 6—Galaxy Securities’ research report says that according to Flight Butler, in March domestic civil aviation passenger volume increased by +12% year over year. Among them, the number of business-line passengers increased by +8.3% year over year. The report expects that growth in overall civil aviation travel demand will continue to be mainly driven by leisure travel. Considering that pilot provinces for April have started implementing the spring holiday, it is expected that overall travel data will continue to maintain strong and rapid growth. Based on data from Trip.com and Civil Aviation Flight Butler, as of April 1–6, domestic route bookings increased by +9% year over year; for the May Day holiday, domestic route bookings increased by +13% year over year. On the pricing side, during the Qingming holiday, the base fare (unbundled ticket price) increased by +16% year over year.

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