Shares of Chinese airlines came under collective selling pressure during Tuesday's trading session, with China Southern Airlines Co Ltd (01055) dropping 2.97% to HK$3.1, Air China Ltd (00753) falling 2.52% to HK$3.875, and China Eastern Airlines Corp Ltd (00670) declining 2.28% to HK$2.785.

On the news front, the US and Iran remain at odds over control of the Strait of Hormuz, with no progress in negotiations keeping crude prices above the US$90 per barrel threshold. US President Donald Trump stated that Washington is currently not engaged in any talks with Tehran, insisting that the Strait of Hormuz has reopened to shipping — a claim that contradicts Iran's assertion that the vital waterway remains closed to vessels. The temporary ceasefire agreement expired on Monday.

Notably, elevated jet fuel prices driven by Middle East conflicts have led the three major Chinese carriers to project combined pre-tax losses exceeding 7.3 billion yuan for the first half of the year. Analysts at Huatai Securities note that as early August marks the peak of the summer travel season, airline ticket prices have shown marginal improvement, with a 2.6% year-on-year increase observed during the August 3-16 period. However, given the low comparison base, the summer season has not produced a significant peak-period effect, and sector attention remains subdued.

Looking ahead, market participants should continue monitoring international oil price movements and high-frequency operational data. Over the medium to long term, analysts remain optimistic about the industry's recovery from cyclical lows, suggesting that early positioning offers attractive risk-reward characteristics.