At present, it is the Spring Festival transportation, and the civil aviation industry is ushering in the busiest time of the year, and new adjustments are beginning to come. According to qunar.com, the platform has received a notice from some Air China companies to resume the collection of fuel surcharges for passenger transportation on Chinese routes from February 5, 2022 (ticket issuing date).
It has been more than a week since the Spring Festival. According to the data of frequent flyer, in the first week of Spring Festival travel in 2022 (January 17-23), the average daily flight number of Chinese routes was about 9377, an increase of 40.82% over the first week of Spring Festival travel in 2021; The number of civil aviation passengers sent across the country was about 5.9 million, up 63.53% year-on-year in the first week of 2021.
The year 2021 just passed is the second year after the outbreak, and the pressure on the civil aviation industry has not decreased. Since the beginning of 2021, "daily economic news" has launched the "data insight report of China's civil aviation industry" and "civil aviation data insight" series of reports every month, continuously paying attention to the operation performance and capital operation of China's mainstream airlines and airports, and tracking and insight into the development trend of China's civil aviation industry for a long time.
As the Spring Festival is approaching, at the end of the year and the beginning of the year, we specially launched the data insight report of China's civil aviation industry (2021) to check the annual operation of the civil aviation industry in 2021.
In the Chinese market, the outbreak is directly linked to the performance of air transportation. in the second half of 2021, two rounds of large-scale epidemic caused a setback to the civil aviation industry. The annual passenger volume of the "three major airlines" is only 60% of that before the epidemic (2019). in the international market, China continues to implement the "five ones" policy, and the number of international passenger flights has decreased for two consecutive years.
In addition, the epidemic situation abroad is grim, and there is often a risk of circuit breaker in international flights. In 2021, Air China and China Southern Airlines had the largest number of international flights that were blown. The total number of blown flights of these two airlines accounted for about 80% of the total number of blown flights of Air China.
According to the relevant planning of the Civil Aviation Administration, the average annual growth rate of passenger traffic from 2019 to 2025 is expected to be only 5.9%, and the growth rate of passenger transport has slowed down.
Under the pressure of operation, the airline company is also adjusting its fare strategy. Represented by the busiest public and business trunk lines, the price of public and business trunk lines increased significantly in 2021. The average price of air tickets per week was up to 2306.55 yuan, an increase of 45.29% compared with the same period in 2020.
However, there are still many defects in the services of the airline company. From January to November 2021, the number of complaints against AVIC reached 111200. Complaints about irregular flight services and ticketing services accounted for 84% in total. among them, China Eastern Airlines is the airline company with the most complaints, with 15600 complaints, followed by China Southern Airlines 12600 and Air China 6735.
Under the storm, there are many changes. In 2021, Shanghai International Airport Co.Ltd(600009) share price plummeted due to the adjustment of tax exemption agreement, and stepped down from the throne of "champion" of perennial market value of aviation sector. Air China Limited(601111) jumped to the top of the market value list of the aviation sector, and Juneyao Airlines Co.Ltd(603885) was the aviation stock with the largest increase in share price.
In addition, under the background of "double carbon", carbon emission reduction is another difficult problem faced by the civil aviation industry. Previously, many enterprises did not have a strong willingness to act due to cost considerations. but now, for the civil aviation industry, carbon reduction has changed from "multiple choice" to "must answer". according to the relevant planning of the Civil Aviation Administration, the establishment of aviation carbon emission reduction market mechanism will be promoted during the "14th five year plan", which may bring considerable cost pressure to the civil aviation industry.
passenger inventory:
the passenger traffic volume of the three major airlines is only the top 60%
In 2021, the six listed airlines carried about 328 million passengers, a slight increase of about 5% year-on-year in 2020, about 62.65% before the epidemic (2019). Among them, China Southern Airlines Company Limited(600029) continued to lead the whole industry in the number of passengers, reaching 98.5049 million.
The epidemic situation is still the primary factor affecting the passenger transport performance of airlines. Taking July as the dividing line, the passenger transport of civil aviation industry will be divided into two pictures in 2021. Represented by the six listed airlines, from January to July 2021, the number of passengers maintained a high level after a rapid recovery, and the passenger volume of Spring Airlines Co.Ltd(601021) and Juneyao Airlines Co.Ltd(603885) even exceeded the pre epidemic level for a time.
However, in the middle and late July of 2021, Nanjing Lukou Airport had an epidemic and spread to many places. The civil aviation industry suffered a heavy setback. In August, the total number of passengers carried by the six listed airlines directly "halved". since October 2021, with the emergence of the national epidemic and the spread of the Omicron mutant strain, the total number of passengers carried by the six listed airlines fell to the bottom of the whole year in November.
Data source: announcement of listed companies
As the bases of the "three major airlines" are scattered, their passenger transport is more volatile affected by the epidemic. In contrast, Spring Airlines Co.Ltd(601021) and Juneyao Airlines Co.Ltd(603885) have more concentrated transport capacity and more stable passenger transport performance.
According to the data, among the six listed airlines, Juneyao Airlines Co.Ltd(603885) and Spring Airlines Co.Ltd(601021) are the two airlines with the largest year-on-year increase in passenger capacity in 2021, reaching 17.35% and 14.58% respectively, the year-on-year increases of other airlines are HNA (11.52%), China Eastern Airlines (5.94%), China Southern Airlines (1.70%) and Air China (0.50%).
Compared with that before the epidemic, the recovery rates of Spring Airlines Co.Ltd(601021) and Juneyao Airlines Co.Ltd(603885) were the highest, 95.14% and 83.77% respectively, the "three major airlines" basically recovered to the level of 60% before the epidemic, and the recovery rate of HNA was the lowest, only 50.56%.
In terms of passenger seat rate, the change trend of the six listed airlines is basically the same. The annual passenger rate of Spring Airlines Co.Ltd(601021) , Juneyao Airlines Co.Ltd(603885) and HNA increased slightly year-on-year in 2020, while the passenger rate of the "three major airlines" continued to decline. Before the epidemic, the annual passenger occupancy rate of all airlines was more than 80%; However, in 2021, Spring Airlines Co.Ltd(601021) is the only airline with an annual seating rate of more than 80%, and the annual seating rate of "three major airlines" is about 70%.
Data source: announcement of listed companies
According to the civil aviation development plan of the 14th five year plan recently released by the Civil Aviation Administration, the average annual growth rate of passenger traffic in the whole industry was 10.7% from 2015 to 2019. However, the expected annual growth rate of passenger traffic from 2019 to 2025 is only 5.9%.
fuse count:
China Southern Airlines flight cz6044 was blown 9 times
In 2021, the impact of the epidemic on the civil aviation industry entered the second year, and the most significant impact is still international flights. At present, the international epidemic is still severe and complex, and the pressure of foreign defense input of civil aviation is huge. China continues to implement the "five ones" policy, and the number of inbound and outbound flights remains low. The full recovery of international flights will take some time.
According to the flight steward data, the number of inbound and outbound international passenger flights in 2021 was about 40000, down 71.0% from 2020 and 96.0% from 2019. According to the data of flight standards, the top five international round-trip flights carried by Air China in 2021 are Air China 8685, Xiamen Airlines 2191, China Eastern Airlines 2166, China Southern Airlines 1729 and Juneyao Airlines Co.Ltd(603885) 634.
Under the "five ones" policy, the Civil Aviation Administration also continues to fuse international flights that meet the circuit breaker mechanism. For flights with a certain number of passengers whose nucleic acid test results are positive after entry, corresponding suspension measures will be implemented for a corresponding period of time.
The reporter of the daily economic news made statistics on all the circuit breaker instructions published on the official website of the Civil Aviation Administration in 2021, a total of 99 international flights carried by Air China were blown. (reporter's note: the number of flights counted this time does not include international flights carried by foreign airlines or flights rewarded by the Civil Aviation Administration)
Data source: CAAC official website
Among the 99 international flights that were blown, according to the time of issuing the blowing instruction, the peak appeared in July, with 20 flights, followed by August (16 flights) and December (15 flights). Most of the circuit breaker instructions to AVIC were issued in the second half of the year, there were 63 circuit breakers in the second half of the year, accounting for 63.6% of the whole year.
Data source: CAAC official website
According to the aviation department, Air China has the most international flights fused, with 42 flights, followed by China Southern Airlines with 37 flights. The total number of flights fused by the two airlines accounts for about 80% of the total number of flights fused by China Airlines.
According to the route, China Southern Airlines flight cz6044 (Nairobi Changsha) was fused the most times, with a total of 9 times. Other routes with no less than 4 times of fusing are flight cz3056 (Yangon to Guangzhou) fusing for 5 times, flight 3u8392 (Cairo to Chengdu), flight ca934 (Paris to Tianjin), flight cz348 (Paris to Guangzhou) and flight ca910 (Moscow to Lanzhou) fusing for 4 times respectively.
According to the place of departure, among the flights carried by Air China from Nairobi, the capital of Kenya, a total of 12 flights were blown, which is the place of departure with the largest number of fusions involved. Other places of departure involving no less than 5 times of fusing are Moscow 9 times, Yangon 9 times, Paris 8 times, Manila 5 times and Vientiane 5 times.
The more times that involves fusing, to some extent, it indicates that the epidemic situation in the starting place is more severe. take Nairobi as an example. Kenya, the country where Nairobi is located, has implemented a long-term curfew due to the epidemic since March 2020 and extended the curfew for many times. In June 2021, many countries in Africa, including Kenya, entered the period of concentrated outbreak of the epidemic, the number of confirmed and dead cases increased rapidly, and there have been cases of infection with a variety of variant strains in many countries. Kenya did not lift the curfew until October 2021.
ticket price inventory:
the price of public and commercial trunk lines increased significantly
The public business trunk line is the busiest route in civil aviation transportation. Qunar data shows that the ticket price of public and business trunk lines will increase significantly in 2021. Except for the first nine weeks, the average price of public and commercial trunk lines in other weeks is higher than that in the same period in 2020.
The 26th to 32nd weeks of 2021 (i.e. from the end of June to the beginning of August) is the period with the largest increase in ticket prices. The average price of public and commercial trunk lines has been higher than that in the same period of 2020 by more than 30% for seven consecutive weeks. During the period of , the average ticket price of public and business trunk lines reached the peak at the same time, reaching 2306.55 yuan, a year-on-year increase of 45.29%.
In terms of popular tourist routes, Chongqing is the most popular popular tourist destination in 2021. according to the data, among the top five tourist routes with ticket volume, three routes are all destined for Chongqing. Among them, the Shanghai Chongqing route not only has the largest ticket volume, but also has the most hundred yuan tickets in the routes to Chongqing. There are 432 hundred yuan tickets in the whole year, with a minimum of 70 yuan.
Chengdu Lhasa route is the most popular tourist route with 100 yuan tickets. There were 1168 100 yuan tickets in 2021, with an average of 3 100 yuan tickets booked every day. It is worth mentioning that many popular tourist routes from Shanghai have many 100 yuan tickets, including Zunyi, Qingdao, Dalian, Guiyang and Chongqing. The number of 100 yuan tickets in the whole year is more than 400.
freight inventory:
there were double lows in February and August
According to the data of the Civil Aviation Administration, the cargo and mail transportation volume of the whole industry was 7.32 million tons in 2021, an increase of 8.2% year-on-year.
From the perspective of sub shipping companies, China Southern Airlines still leads other listed shipping companies in terms of freight transportation. The annual cargo and mail transportation volume of the six listed airlines from high to low are China Southern Airlines (1441700 tons), Air China (1186700 tons), China Eastern Airlines (918400 tons), HNA (385300 tons), Juneyao Airlines Co.Ltd(603885) (108000 tons) and Spring Airlines Co.Ltd(601021) (82700 tons). The six listed airlines completed a total cargo and mail transportation volume of 4122800 tons, accounting for 56.32% of the transportation volume of the whole industry.
Data source: announcement of listed companies
From the completion of each month, it can be seen from the above figure that the freight scale of Juneyao Airlines Co.Ltd(603885) and Spring Airlines Co.Ltd(601021) is small, at the bottom, with little monthly change, and the curve is relatively flat. The freight volume trend of the other four large-scale Airlines - China Southern Airlines, Air China, China Eastern Airlines and HNA is basically the same, and there are two low peaks in February and August respectively. One month after the beginning of 2021, the freight volume of the above four airlines declined collectively, then rebounded rapidly in March and ushered in a stable period from March to July. After entering August, the freight volume fell again and rebounded again in the fourth quarter.
In terms of the number of cargo flights, according to the flight steward data, the total number of cargo flights in 2021 was 182000, an increase of 38.0% year-on-year in 2020, of which the number of international / regional cargo flights increased by 64.5% and the number of cargo flights in China increased by 11.3%. in August, the number of cargo flights in China decreased by 18.6% year-on-year. According to the analysis of flight steward, the main reason is that Nanjing Lukou Airport, the third largest cargo airport in China, was closed in August. At the same time, there were many confirmed cases of international cargo staff in China from August to September, and the growth of international / regional cargo flights slowed down.
capacity inventory:
the hottest introduction of a320neo
In 2021, the fleet size of the six listed airlines generally expanded, with a net increase of 38 aircraft by Air China, followed by 27 by China Eastern Airlines, Juneyao Airlines Co.Ltd(603885) 12, and 11 by China Southern Airlines and Spring Airlines Co.Ltd(601021) . Only the number of HNA aircraft decreased by 2, and the aircraft models withdrawn were 1 B737-800 and 1 A320.
among the aircraft introduced in 2021, Airbus's narrow body a320neo is undoubtedly the most popular model. in 12 months of a year, Air China and China Eastern Airlines have introduced a320neo every month for 11 months, and the two airlines have introduced 26 aircraft respectively.
The number of a320neo introduced by other airlines is Juneyao Airlines Co.Ltd(603885) 9, Spring Airlines Co.Ltd(601021) 6 and China Southern Airlines 4 respectively.
A320neo is not only popular in China Airlines, but also in the world. According to the order data of 2021 released by Airbus, Airbus received 771 new orders in 2021, including 661 a320neo, 64 a320neo and 46 wide body aircraft (specific models are not published). Among them, a320neo accounted for 85.72% of Airbus's total orders in 2021.
In addition, 2021 is also a year for the three major airlines to continue to expand the ARJ21 formation of domestic regional airliners . China Southern Airlines introduced a total of 6 ARJ21 aircraft throughout the year, including 4 for Air China and China Eastern Airlines.
Seat kilometers are also an important index to measure transport capacity, which is basically positively correlated with the size of the fleet. In 2021, China Southern Airlines invested the most transport capacity with the largest fleet size (878 aircraft). In 2021, the available seat kilometers were 213926.36 million, followed by China Eastern Airlines and Air China, with 160691.83 million and 152451.5 million respectively.
It is worth mentioning that although Juneyao Airlines Co.Ltd(603885) has the smallest fleet among the six listed airlines, its seat kilometers invested in 2021 grew the fastest, reaching 15.25%. China Southern Airlines and Air China declined slightly year-on-year.
airport inventory:
Guangzhou Baiyun International Airport Company Limited(600004) ranked as the busiest airport
According to the statistics of Qingdao Tianfu airport and Qingdao International Airport, 248 airports were officially operated in 2021; 29 airports across the country have achieved one ID card access; 66 airports apply face recognition technology; 234 airports realize "paperless" and convenient travel; 40 ten million large airports have opened passenger "easy security" services.
from the perspective of major airports, Guangzhou Guangzhou Baiyun International Airport Company Limited(600004) continued to be the busiest airport in China in 2021 after ranking first in the country in terms of throughput in 2020. The passenger throughput (40257000 passengers) and takeoff and landing sorties (362500 sorties) ranked first among the four listed airports. In terms of throughput, the ranking of the four listed airports is consistent with that in 2020. From high to low, they are Guangzhou Guangzhou Baiyun International Airport Company Limited(600004) , Shenzhen Bao'an airport, Beijing Capital Airport and Shanghai Pudong airport.
Data source: announcement of listed companies
From the monthly change, it can be seen from the above two figures that the takeoff and landing sorties of the four listed airports basically match the trend of passenger throughput. Affected by the multi-point spread of the epidemic in China in 2021, the operation indicators of major airports fluctuated significantly throughout the year. The four listed airports generally experienced low levels of take-off and landing sorties and passenger throughput in February, August and November; The operation in the first half of the year is more stable than that in the second half of the year, and the stable period and peak value appear from March to May.
It is worth mentioning that although Guangzhou Baiyun International Airport Company Limited(600004) ranks first in the whole year, it does not lead every month. Guangzhou Baiyun International Airport Company Limited(600004) the number of take-off and landing sorties and passenger throughput in June fell to the lowest of the year, lower than the other three airports, which is related to the local epidemic in Guangzhou from May to June 2021.
In terms of punctuality rate performance, according to the data of flight standard, Chengdu Tianfu airport, which was put into operation in June this year, has a departure punctuality rate of 90.79%, and is also the only ten million class airport with a departure punctuality rate of more than 90%. compared with the same period last year, the departure punctuality rate of seven airports has increased.
In terms of popular routes, the flight steward data show that the number of flights of the top 10 routes in 2021 is increasing year-on-year compared with that of 2020. The largest increase is the traditional business route Beijing Capital Shanghai Hongqiao, which is 23.3%, followed by Chengdu Shuangliu Beijing Capital (8.3%) and Shanghai Hongqiao Shenzhen Bao'an (3.9%).
aviation service inventory:
China Eastern Airlines has the most complaints
In addition to the hard power such as transport capacity and volume, service quality, as the soft power of aviation business entities, is related to the rights and interests of consumers and the sustainable development of enterprises, which needs to be paid attention to by the industry.
From the monthly notice of air transport consumer complaints published on the official website of the Civil Aviation Administration in 2021, we can get a glimpse of the service level of China's airlines and airports. At present, the Civil Aviation Administration has only announced the complaints from January to November 2021, but not in December.
first of all, from the total number of complaints, the number of complaints against Air China from January to November reached 111200, and the number of complaints against Chinese airports was 3362.
Data source: CAAC official website
Secondly, in terms of complaint time, the peak of complaints against AVIC and the airport occurred in July, with 15500 and 463 complaints respectively; The low peaks occurred in February, with 6826 and 196 complaints respectively. Overall, the number of complaints in the middle of the year is more than that at the beginning and end of the year.
Third, from the perspective of complaint types, the largest number of complaints against China Airlines is abnormal flight services, with 58400 complaints, followed by ticketing services 35100 times, accounting for 84% in total, which is the airline service problem most concerned by consumers. The largest number of complaints against Chinese airports was the airport merchant service, reaching 853, followed by 835 check-in and boarding, and 465 basic terminal services.
Fourth, from the perspective of business entities, China Eastern Airlines was the most complained, with 15600 complaints, followed by China Southern Airlines 12600 and Air China 6735. looking at the top ten airlines with complaints, they are all mainstream airlines in China, and the top three are the three major airlines. Due to the large number of passengers carried by mainstream airlines, the number of complaints will increase accordingly.
the airport with the most complaints is Xining caojiabao airport, with 112 complaints, followed by Xi'an Xianyang International Airport 108 times and Chengdu Shuangliu International Airport 93 times. among the top ten airports complained about, there are no airports in the four first tier cities of Beijing, Shanghai, Guangzhou and Shenzhen, which is different from the phenomenon that the number of complaints by airlines is positively related to the number of passengers. This means that mainstream airports can not only undertake the travel service tasks of the largest number of passengers in China, but also take into account the service quality. In addition, seven of the ten airports with the largest number of complaints are located in the western region, which shows that the service level of airports in the western region still needs to be improved compared with other regions.
market value inventory:
the airport stock market fell, and Air China jumped to the top of the market value list
The performance of the civil aviation industry in the secondary market is mixed. By the end of 2021, only Air China Limited(601111) and China Southern Airlines Company Limited(600029) aviation stocks had a market value of more than 100 billion yuan , 132.612 billion yuan and 115.419 billion yuan respectively.
The market value of the five airport stocks decreased to varying degrees compared with the beginning of the year. Among them, the market value of Shanghai International Airport Co.Ltd(600009) fell from 145.794 billion yuan to 89.970 billion yuan, and nearly 40% of the market value evaporated. Followed by Beijing Capital Airport shares (- 28.38%), Guangzhou Baiyun International Airport Company Limited(600004) (- 14.65%), Shenzhen Airport Co.Ltd(000089) (- 10.40%) and Xiamen International Airport Co.Ltd(600897) (- 0.30%).
The trigger for the sharp decline in the market value and share price of Shanghai International Airport Co.Ltd(600009) is the supplementary agreement to the duty-free shop contract signed at the end of January. according to the supplementary agreement, the tax-free income of Shanghai International Airport Co.Ltd(600009) will only be linked to the recovery of international passenger flow, and the lower limit of tax-free income agreed in the original contract will be adjusted to the upper limit of income. This makes many securities companies give pessimistic expectations for Shanghai International Airport Co.Ltd(600009) short-term profitability. According to its 2021 semi annual report, Shanghai International Airport Co.Ltd(600009) commercial catering revenue decreased by 68.9% year-on-year, mainly due to the sharp decline in rental income of duty-free stores.
The share price continued to decline, Shanghai International Airport Co.Ltd(600009) also stepped down from the position of "champion" in the perennial market value of the aviation sector. Heating in the cold, after announcing the proposed merger and reorganization with Hongqiao Airport, Shanghai International Airport Co.Ltd(600009) share price rebounded to a certain extent. As of December 31, 2021, Shanghai International Airport Co.Ltd(600009) ranked fourth in the aviation sector after Air China Limited(601111) , China Southern Airlines Company Limited(600029) and China Eastern Airlines Corporation Limited(600115) .
Qi Qi, a civil aviation expert, said that Shanghai International Airport Co.Ltd(600009) as a representative of airport stocks, its share price decline has also affected investors' confidence in other airport stocks to a certain extent.
In terms of airlines, the market value of listed airlines other than China Express Airlines Co.Ltd(002928) has increased. in terms of performance, in the first three quarters of 2021, the operating revenue of listed airlines generally increased year-on-year, with a total loss of 28.066 billion yuan, a decrease of about 14.7 billion yuan compared with the same period in 2020. A number of securities companies pointed out that the trend of gradual recovery of aviation demand is relatively certain.
Among them, the market value of Hainan Airlines Holding Co.Ltd(600221) increased from 25.545 billion yuan to 61.832 billion yuan, an increase of 142.05%. Followed by Juneyao Airlines Co.Ltd(603885) (56.11%), China Eastern Airlines Corporation Limited(600115) (27.05%), China Southern Airlines Company Limited(600029) (26.33%), Air China Limited(601111) (21.90%) and Spring Airlines Co.Ltd(601021) (2.47%).
On the one hand, the market value of Hainan Airlines Holding Co.Ltd(600221) rose sharply due to the "boot landing" of its reorganization plan, on the other hand, it increased a large number of shares according to the reorganization plan. Similarly, the rise of market value of China Eastern Airlines Corporation Limited(600115) and China Southern Airlines Company Limited(600029) is also affected by the issuance of additional shares and the conversion of bonds into shares, respectively. The market value increase of Juneyao Airlines Co.Ltd(603885) was basically driven by the rise of share price. In 2021, Juneyao Airlines Co.Ltd(603885) share price (closing price, former resumption of rights) rose 57.08%, making it the airline stock with the largest increase in share price last year.
civil aviation "carbon neutrality":
carbon market is included in the planning of Civil Aviation Administration
At present, the civil aviation industry is facing huge pressure to reduce carbon. According to Caixin, from 2013 to 2019, the carbon emission of civil aviation industry has exceeded 70% of the predicted value of ICAO.
In 2021, the discussion on "double carbon" is in full swing, and the civil aviation industry has also introduced many new terms. For example, Sichuan Airlines and China Eastern Airlines Corporation Limited(600115) successively implemented the "carbon neutral flight", that is, offsetting the carbon dioxide equivalent generated by the flight by purchasing China's CCER project (national certified voluntary emission reduction project). In addition, Xiamen Airlines has also launched a "carbon neutral ticket" (an additional 10 yuan on the basis of the lowest price of the flight), which offsets the carbon emissions of passengers during the journey by linking the ticket to carbon remittance.
The above measures are to reduce carbon emissions through carbon compensation, which is also one of the main ways to achieve carbon neutralization. However, according to the statements of various aviation departments, these measures focus more on the significance of publicity and education. "Carbon emission reduction is definitely not a matter for airlines or CAAC. In fact, it depends more on the active participation of consumers." Qi Qi explained.
In fact, carbon reduction actions in the civil aviation industry began more than a decade ago, such as improving aviation fuel efficiency and using sustainable aviation fuel. However, due to cost considerations, the willingness of all parties to act is not strong. Qi Qi said that under the background of "double carbon", the carbon reduction of civil aviation industry has changed from "multiple choice" to "must answer".
In the civil aviation development plan of the 14th five year plan, the Civil Aviation Administration said that in the future, it will improve the relevant policy standards for civil aviation to participate in the carbon market and design a market-based carbon emission reduction mechanism for transport aviation flights. It is worth noting that this may bring considerable cost pressure to the civil aviation industry. In this case, Qi Qi believes that consumers may need to make greater contributions to civil aviation carbon emission reduction in the future.
On the other hand, how to reduce the use of traditional aviation fuel is still the focus of carbon emission reduction. According to the research of BNP Paribas Bank, the carbon emission of air transportation industry mainly comes from aircraft aviation fuel combustion, accounting for about 79% of the total emission. Among the current energy alternatives, the technology of applying battery and hydrogen energy to air passenger transport is not mature enough. It is generally believed in the industry that sustainable aviation fuel (SAF) produced from raw materials such as vegetable oil and animal fat is the most potential solution. In recent years, dozens of airlines have conducted saf verification and test flights.
However, saf is more expensive than traditional aviation fuel and has limited global supply. the Civil Aviation Administration said that in the future, it will promote the pilot demonstration of the normalized application of sustainable aviation fuel, and strive to achieve more than 20000 tons of sustainable aviation fuel consumption in 2025.
