智通财经APP获悉，航空股早盘走高，截至发稿，中国国航(00753)涨6.2%，报4.97港元；南方航空(01055)涨5.36%，报3.93港元；首都机场(00694)涨5.2%，报2.83港元；中国东方航空(00670)涨2.9%，报2.48港元。
消息面上，隔夜国际油价下跌，昨日欧佩克决定将220万桶/日的增产继续推迟一个季度，从明年4月份开始增产。东吴期货认为，OPEC+推动的延长减产限制了油价下行空间，不过非OPEC+供应充足依然令市场趋于过剩。中信建投此前指出，航空业的关键驱动变量包括航班量、客座率、票价、油价、汇率。该行指出，需求或将受益财政政策，成本或将受益油价下行，汇率仍存压力。
华泰证券认为，航空板块将迎来盈利释放周期。原因有三：第一供给端，供给同比增速有望进一步下降，该行预测25E从24E的16.9%放缓至5.4%；第二需求端，航空作为顺周期板块，近期一揽子政策或将通过驱动宏观复苏，边际提振民航需求，预测25E同增7.4%，产生供需缺口；第三油价下跌有望降低航司燃油成本，叠加全票价市场化改革，航司有望进入盈利周期，并展现较高的盈利和股价弹性。推荐景气度及盈利有望持续回升的航空板块。
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