汇率及油价变动对中国航空运输业的影响  

The Impact of Exchange Rates and Oil Price Changes on China’s Air Transport Industry

作　　者：马佳琪 MA Jiaqi(CNOOC Research Institute Co.,Ltd.Beijing 100028)

机构地区：[1]中海油研究总院有限责任公司,北京100028

出　　处：《中国商论》2023年第17期95-98,共4页China Journal of Commerce

摘　　要：中国经济的高速增长和高质量发展,带动了中国航空运输业的蓬勃发展。本文利用2005—2022年中国上市航空公司的财务报表数据,旨在研究人民币汇率及原油价格变动对中国上市航空公司净利润的影响,同时通过对财务指标计算并比较,提出控制成本、稳定利润的建议。研究结果表明,人民币汇率和原油价格主要通过影响航空公司的汇兑损益和运营成本两方面影响航空公司的净利润。鉴于中国航空公司的盈利与汇率、油价密切相关,具有准金融性质,为稳定航空公司净利润,使其对汇率及油价变动的敏感性降低的方法有:加强航空公司风险管理、购买适当的金融衍生品以降低风险,并选择合适的融资方式和国际结算币种来降低航空公司财务费用和运营成本,以提高净利润。China's rapid economic growth and high-quality development have led to the booming development of China's air transport industry.Using the financial statement data of China's listed airlines from 2005 to 2022,this paper aims to study the impact of RMB exchange rates and price changes of crude oil on the net profits of China's listed airlines and puts forward suggestions to control costs and stabilize profits by calculating and comparing the financial indicators.The results of the study show that the RMB exchange rates and price of cnude oil affect the net profits of airlines mainly by affecting the airlines'exchange gains and losses and operating costs.Because the profits of Chinese airlines are closely related to the exchange rates and oil price,and have a quasi financial nature,to stabilize the net profits of the airlines and make them less sensitive to the changes in the exchange rates and oil price,there are some methods to strengthen the risk management of the airlines,purchase appropriate financial derivatives to reduce the risks and choose the appropriate financing methods and international settlement currencies to reduce the airline s financial expenses and operating costs to improve the net profits.

关 键 词：人民币汇率 原油价格 汇兑损益 运营成本 

分 类 号：F562[经济管理—产业经济]