汇丰研究发表报告指，中国交通运输部预计今年春计(1月14日至2月22日)期间的旅客总流量将按年增长7%，达到90亿人次，再创历史新高。不过，携程(09961.HK) 指出今年的机票价格较为疲弱，超过30%的国内航点的机票价格已呈现按年下降。
汇丰研究预期，相较于航空公司将继续受困于僵化的成本结构，OTA(线上旅游代理商)能够通过组合转换更好地将消费套现。另一方面，该行预计国内机票价格将持续疲弱，甚至在旺季后变得更加明显，这应会拖累航空公司的盈利，进而影响其估值。
该行重申携程“买入”评级，目标价由585元上调至608.4元，看好其在国内及出境旅游市场的领导地位，以及迅速扩展的国际版图；同程旅行(00780.HK) 在国内和出境旅游市场拥有稳健的增长前景，而且股东回报不断改善，因此将评级由“持有”上调至“买入”，目标价由19元调升至21元。(sl/k)(港股报价延迟最少十五分钟。沽空资料截至 2025-01-03 16:25。)
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