Is China’s traffic stimulus sustainable?

China’s major carriers welcomed an improvement in passenger traffic in Jul-2009, following last year’s depressed levels, with China Eastern, China Southern, Air China and Hainan Airlines all experiencing double digit year-on-year passenger growth in the month. (Cathay Pacific traffic results are included on the below graphs for comparative purposes. Full Cathay financial/traffic results available in a separate profile). [1497 words]

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This report contains the following subheadings:

• Hainan Airlines enters rapid growth phase  
• China Eastern: only major to see weaker load factors
• Air China: Going against the trend with international passenger growth 
• China Southern: China’s largest carrier by pax
• Spring Airlines outperforms its smaller/private carrier rivals
• Freight shows signs of stabilising
• Outlook: Fastest growing aviation market in the world

This report contains the following charts and tables:

• Hainan Airlines traffic highlights: Jul-2009
• Cathay, Hainan Airlines, China Eastern, China Southern and Air China passenger number growth: Jan-2007 to Jul-2009
• Cathay, Hainan Airlines, China Eastern, China Southern and Air China traffic (RPKs) growth: Jan-2007 to Jul-2009
• China Eastern Airlines traffic highlights: Jul-2009
• Cathay, Hainan Airlines, China Eastern, China Southern and Air China passenger load factor (ppts) growth: Feb-2007 to Jun-2009
• Air China traffic highlights: Jul-2009
• China Southern Airlines traffic highlights: Jul-2009
• Cathay, Hainan Airlines, China Eastern, China Southern and Air China capacity (ASKs) growth: Jan-2007 to Jul-2009
• Passenger numbers trends for the smaller Chinese airlines:  May-2008 to Jun-2009
• Cathay, Hainan Airlines, China Eastern, China Southern and Air China freight (FTKs) growth: Jan-2007 to Jul-2009
• CAAC traffic highlights: Jun-2009 and 1H2009
• Cathay, Hainan Airlines, China Eastern, China Southern and Air China passenger numbers growth: 2009 compared to 2007 levels