Recently, six A-share listed airlines have successively disclosed their operating data for the first quarter of 2025. Overall, the passenger load factors of the six airlines in March increased year-on-year, but declined month-on-month. Spring Airlines continued to lead the way, with a passenger load factor of 89.74% in March. China Southern Airlines ranked first in passenger turnover (measured in revenue passenger kilometers, the same below) and passenger capacity investment (measured in available seat kilometers, the same below) in March. The passenger turnover and passenger capacity investment of major airlines in March increased year-on-year. From January to March 2025, Spring Airlines' cumulative passenger load factor also ranked first, reaching 90.6%. The passenger load factors of China Southern Airlines and Juneyao Airlines in the first quarter were 85.39% and 84.06%, respectively, ranking second and third.