08年以来,主要航空公司A股股价跌幅超过60%,跌幅远深于股值平均跌幅,估值风险已经明显释放。近期随着国际原油价格走低,航空股表现强于大盘,虽然短期行业弱势格局难改,但长期来看投资机会已逐步显现。 Since 08, the share prices of A-shares of major airlines have dropped more than 60%, far below the average share price decline, and the valuation risk has been significantly released. With the recent international crude oil prices lower, the performance of aviation stocks outperform the broader market, although the pattern of weakness in the short-term industry is difficult to change, but in the long run investment opportunities have gradually emerged.