Who are China Express Airlines's main competitors?

Named competitors: Juneyao Airlines (603885.SS), Spring Airlines (601021.SS). The cockpit's measured peer set (industry) also includes JetBlue Airways (JBLU), CITIC Offshore Helicopter (000099.SZ), Norwegian Air Shuttle (NAS.OL), Wizz Air (WIZZ.L), Virgin Australia (VGN.AX), Asiana Airlines (020560.KS).

Is China Express Airlines expensive compared with its peers?

On forward p/e it trades at 155.2× against a peer median of 13.2×, 2nd most expensive of 16 in its peer set.

How has China Express Airlines stock performed?

Over six months to 6 Nov 2026 the shares returned -11.6% against +8.0% for the median peer; over one year -35.2%.

← CockpitCompetitor Analysis › 002928.SZ China Express Airlines Co., Ltd. Class AOpen in the cockpit ↗

China Express Airlines Co., Ltd. Class A002928.SZCompetitor analysis, valuation and peers

China · CNY·Industrials›Airlines

Regional Chinese airline based in Guizhou, operating domestic short-haul routes.

Momentum leader 86

Competitor Analysis ▸ Charts Open in the cockpit

Mkt cap

$1.34B

US dollars, full cap

Free float

99%

of shares outstanding

$/day

$23.7M

20-day average traded

Fwd P/E

155.2×

forward earnings

ROIC−WACC

-5.0 pp

WACC 5.0%

Hurdle

n/a

no reverse DCF

Next earnings

173 days

28 Apr 2027

Close · CNYCN¥7.00

1D-0.7%

1W+18.9%

1M+13.8%

3M+3.7%

6M-11.6%

YTD-36.6%

1Y-35.2%

ATR %3.2%

52w lowhigh43.9% off high

What China Express Airlines does

Regional Chinese airline based in Guizhou, operating domestic short-haul routes.

Flies short regional routes linking smaller cities, mainly in Guizhou and the south-west, where passenger numbers are thin and local governments often support the routes with subsidies. Its fleet is regional jets, which cost less to run on short thin routes but carry fewer seats.

Where it sits in the supply chain

Airlines
Regional passenger transport

What could go wrong

Financial distress history
Fuel-price volatility

Moat: none. Small regional carrier with limited scale versus national airlines.

Headquarters: Guiyang, Guizhou, China · Employees: 6,191

Named competitors

Juneyao Airlines 603885.SS
Spring Airlines 601021.SS

China Express Airlines at a glance

Size China Express Airlines (002928.SZ) is a China Industrials company (Airlines) with a market value of $1.34B, the 1807th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥7.00 on 6 Nov 2026.

Performance Over six months the shares fell 11.6%, against +8.0% for the median peer and -16.4% for the China market (cap-weighted) — 4th lowest of 21 in its peer set.

Growth Revenue grew 4.1% over the last twelve months (peer median +10.3%); the operating margin is -16.6% (peer median 7.2%).

Valuation It trades at 155.2× forward earnings against a peer median of 13.2× (2nd most expensive of 16).

Capital Return on invested capital runs 5.0 points below its cost of capital (5.0% WACC).

Next results Next results expected around 28 Apr 2027 (exchange calendar; dates can move).

Relative performance

Six months, rebased to 100: China Express Airlines against the median of its 20 peers (local-currency closes).

China Express Airlines financials

Reported figures in CNY; fiscal year ends 2025-12-31. TTM = trailing twelve months.
	TTM	FY2025	FY2024	FY2023	FY2022
Revenue	CN¥7.58B	CN¥7.45B	CN¥6.69B	CN¥5.14B	CN¥2.64B
Revenue growth	—	+11%	+30%	+95%	—
Gross profit	CN¥647M	CN¥134M	CN¥81.5M	-CN¥398M	-CN¥1.28B
EBITDA	n/a	CN¥1.14B	CN¥999M	CN¥315M	-CN¥701M
Net income	CN¥131M	CN¥626M	CN¥268M	-CN¥965M	-CN¥1.97B
Free cash flow	-CN¥1.86B	CN¥149M	CN¥1.51B	CN¥781M	-CN¥35.0M
Capital expenditure	CN¥3.25B	CN¥2.37B	CN¥298M	CN¥541M	CN¥352M
Total debt	CN¥19.5B	CN¥17.8B	CN¥15.2B	CN¥13.7B	CN¥12.2B

Quarterly statements and history in the cockpit →

China Express Airlines competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

Up and to the right = strong over both horizons. China Express Airlines is the large dot.

Fundamentals: revenue growth against valuation

Further right = faster growth; higher = more expensive. The dashed lines are the peer medians. China Express Airlines is the large dot.

China Express Airlines competitors and peer comparison

Head to head with its named competitors (002928.SZ vs 603885.SS vs 601021.SS)
Company	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g
China Express Airlines 002928.SZ	$1.34B	-12%	+4%	-17%	155.2×	n/a
Juneyao Airlines 603885.SS	$3.42B	-8%	+8%	1%	69.5×	0.4%
Spring Airlines 601021.SS	$6.51B	-6%	+16%	6%	26.0×	n/a

How China Express Airlines compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

China Express Airlines against its 20 peers (data as of 6 Nov 2026)
Measure	002928.SZ	Peer median	Rank in peer set
1-month return	+13.8%	+5.6%	7th highest of 21
6-month return	-11.6%	+8.0%	4th lowest of 21
Distance from 52-week high	-43.9%	-25.7%	4th lowest of 21
Revenue growth (TTM)	+4.1%	+10.3%	5th lowest of 21
Operating margin	-16.6%	7.2%	lowest of 21
Forward P/E	155.2×	13.2×	2nd most expensive of 16
ROIC minus cost of capital	-5.0 pp	-0.0 pp	6th lowest of 21

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
Company	Market	Market cap	6M return	Revenue growth	Op. margin	Forward P/E	Req g	Delivered g
China Express Airlines 002928.SZ	China	$1.34B	-12%	+4%	-17%	155.2×	n/a	n/a
JetBlue Airways JBLU	United States	$1.38B	-28%	+10%	-6%	n/a	n/a	n/a
CITIC Offshore Helicopter 000099.SZ	China	$1.41B	-31%	-9%	12%	30.3×	1.8%	+7.5%
Norwegian Air Shuttle NAS.OL	Norway	$1.47B	-11%	+3%	6%	22.0×	-16.5%	+35.8%
Wizz Air WIZZ.L	United Kingdom	$1.48B	+8%	+11%	-2%	n/a	3.4%	+49.5%
Virgin Australia VGN.AX	Australia	$1.48B	+18%	+9%	11%	6.6×	-13.4%	+4.9%
Asiana Airlines 020560.KS	South Korea	$1.21B	+13%	-17%	-12%	n/a	n/a	n/a
Finnair FIA1S.HE	Finland	$1.14B	+38%	+11%	4%	9.4×	-9.6%	+30.2%
Frontier ULCC	United States	$1.71B	+40%	+24%	-15%	1,818.4×	31.6%	+24.4%
Starlux Airlines 2646.TW	Taiwan	$1.76B	-6%	+23%	1%	52.3×	n/a	n/a
Milkyway Intelligent Supply Chain Service 603713.SS	China	$1.90B	+29%	+15%	8%	16.8×	n/a	n/a
Republic Airways RJET	United States	$942M	-12%	+438%	11%	n/a	2.8%	+25.2%
Azul S.A. Sponsored ADR AZUL	United States	$915M	+86%	+12%	14%	13.3×	n/a	n/a
Controladora Vuela Compania de Aviacion SAB de CV Sponsored ADR VLRS	United States	$850M	+3%	+19%	-5%	n/a	-13.7%	+23.8%
Grupo Aeromexico, S.A.B. de C.V. Unsponsored ADR AERO	United States	$2.32B	+1%	+10%	11%	10.4×	-6.6%	+32.3%
Tigerair Taiwan 6757.TW	Taiwan	$753M	+8%	+13%	19%	9.8×	-20.2%	+55.1%
Allegiant Travel ALGT	United States	$2.51B	+11%	+12%	9%	12.7×	n/a	n/a
SkyWest SKYW	United States	$3.02B	-10%	+7%	14%	7.5×	2.2%	+13.8%
Juneyao Airlines 603885.SS	China	$3.42B	-8%	+8%	1%	69.5×	0.4%	+17.4%
Chorus Aviation CHR.TO	Canada	$505M	+30%	-4%	7%	13.2×	2.2%	+6.8%
China Airlines 2610.TW	Taiwan	$3.94B	+17%	+8%	8%	9.9×	n/a	n/a

Questions

Who are China Express Airlines's main competitors?: Named competitors: Juneyao Airlines (603885.SS), Spring Airlines (601021.SS). The cockpit's measured peer set (industry) also includes JetBlue Airways (JBLU), CITIC Offshore Helicopter (000099.SZ), Norwegian Air Shuttle (NAS.OL), Wizz Air (WIZZ.L), Virgin Australia (VGN.AX), Asiana Airlines (020560.KS).
Is China Express Airlines expensive compared with its peers?: On forward p/e it trades at 155.2× against a peer median of 13.2×, 2nd most expensive of 16 in its peer set.
How has China Express Airlines stock performed?: Over six months to 6 Nov 2026 the shares returned -11.6% against +8.0% for the median peer; over one year -35.2%.