民航总体表现：7 月份，总体、国内、国际、港澳台民航景气度指数环比+23.3%、 +28.1%、+6.3%、+50.5%，恢复到2019 年同期的65.4%、74.0%、90.8%、 101.5%；全部、国内、国际、港澳台民航价格指数同比+19.1%、+15.2%、 +56.2%、+310.8%，运输量同比-29.3%、-29.7%、+11.4%、-86.4%；国内、 国际、港澳台民航客座率分别为71.8%、64.2%、49.1%，环比+2.9pp、+7.1pp、 +5.1pp，恢复到2019 年同期的83.9%、78.9%、60.0%。

1 油汇 .................................................................................................................................................................................................................. 1

2 民航总体表现 ................................................................................................................................................................................................ 2

2.1 民航景气度指数环比回升.................................................................................................................................................................. 2

2.2 民航量价指数同比出现分化 ............................................................................................................................................................. 3

2.3 客座率环比回升 ................................................................................................................................................................................... 4

2.4 未来3 个月全市场旅客增长趋势 .................................................................................................................................................... 4

3 主要航空公司数据 ....................................................................................................................................................................................... 5

3.1 可用座公里（ASK） ............................................................................................................................................................................ 5

3.2 收入客公里（RPK） ............................................................................................................................................................................ 6

3.3 客座率 ..................................................................................................................................................................................................... 8

4 主要机场数据 ................................................................................................................................................................................................ 9

4.1 首都机场................................................................................................................................................................................................. 9

4.2 上海机场................................................................................................................................................................................................. 9

4.3 深圳机场...............................................................................................................................................................................................10

4.4 白云机场...............................................................................................................................................................................................11

5 相关政策调整 ..............................................................................................................................................................................................12

6 风险提示 .......................................................................................................................................................................................................12