Morgan Stanley raises rating of China's three major airlines to overweight.

Morgan Stanley has raised its A-share ratings for Air China, China Eastern Airlines, and China Southern Airlines to overweight. Driven by strong demand, the recovery that began in the fourth quarter of last year may continue to gain momentum in 2026-2027, despite investors' low positions and confidence. Potential price increases are expected to boost market sentiment. JPMorgan maintains its overweight rating on the H-shares of the three major airlines and Spring Airlines.