The Zhitong Finance App learned that airline stocks declined across the board. As of press release, Capital Airport (00694) fell 9.51% to HK$4.85; Eastern Airlines (00670) fell 4.07% to HK$2.59; China Southern Airlines (01055) fell 2.62% to HK$4.46; and Air China (00753) fell 1.23% to HK$5.61.

According to the news, HSBC released a research report saying that the number of domestic domestic air passengers has exceeded that before the COVID-19 pandemic, but the recovery of international flights is still slow. The bank is still confident in the accumulated demand for international routes. It expects the three major airline international flight seats to return to pre-epidemic levels of 43% this year, to 82% next year, and will not fully recover until 2025.

HSBC said that the stock prices of the three major airlines were dragged down by economic recovery data, reversing the strong recovery trend in the first quarter. The bank lowered its target price for H shares of the three major airlines, but at the same time maintained its “buy” rating.