June 10, 2026 09:58 AM GMT Chinese Airports | Asia Pacific Still Waiting for the Turn We remain cautious on Chinese airports, as elevated fuel costs weigh on traffic growth and duty-free improvements take time. GBIA also faces an uncertain earnings rebound amid capacity expansion in soft macro. Move GBIA to UW; remain EW on SIAC and UW on BCIA. Air traffic growth under pressure amid energy shock: China's air pax growth has been under pressure since Apr-26 as the global energy shock lifted air ticket prices. ...