PAGE\*MERGEFORMATIII我国交通运输行业上市公司偿债能力分析——以南方航空为例摘要交通运输上市公司的偿付能力是指公司对债务偿还的保证程度，在企业的经营和财务情况中发挥重要作用。本文主要对南方航空、中国国航、东方航空、春秋航空这四家具有代表性的民用航空上市公司进行五项指标的纵向分析比较，通过分析、对比它们长、短期偿付能力的指标，得到交通运输公司偿付能力的基本状况；以南方航空为例子进行横向比较分析，并与民用航空上市公司的平均水平进行对比，得出南方航空在偿债能力上存在流动负债过高、存货逐年提高、资产负债率较高这些的问题，并根据它存在的问题提出相应的优化资产结构、加强存货控制和合理控制资产负债率等建议。关键词：交通运输行业；民用航空；短期偿债能力；长期偿债能力AnanalysisofthesolvencyofListedCompaniesinChina'stransportationindustry--acasestudyofChinaSouthernAirlinesAbstractSolvencyoflistedtransportationcompaniesreferstothedegreeofdebtrepaymentguarantee,whichplaysanimportantroleintheoperationandfinancialsituationofenterprises.Thispapermainlycarriesoutverticalanalysisandcomparisonoffiveindicatorsforfourrepresentativecivilaviationlistedcompanies,namelyChinasouthernairlines,AirChina,ChinaEasternairlinesandSpringairlines.Byanalyzingandcomparingtheirlong-termandshort-termsolvencyindicators,thebasicsituationofthesolvencyoftransportationcompaniesisobtained.HorizontalcomparativeanalysiswithChinasouthernairlinesasanexample,andcomparedwiththeaverageleveloflistedcompaniestocivilaviation,itisconcludedthatChinasouthernairlinesinthepresenceofhighcurrentliabilitiesonsolvency,inventoryincreaseyearbyyear,asset-liabilityratioishigher,theseproblems,andputforwardthecorrespondingoptimizationbasedontheproblemsexistinginthecourseofitsassetstructure,strengtheningtheinventorycontrolandreasonablecontroltheasset-liabilityratioandsoon.Keywords:Transportationindustry;CivilAviation;short-termsolvency;long-termsolvency目录TOC\o"1-3"\h\uHYPERLINK\l"_Toc38653550"摘要PAGEREF_Toc38653550\hIHYPERLINK\l"_Toc38653551"AbstractPAGEREF_Toc38653551\hIIHYPERLINK\l"_Toc38653552"一、引言PAGEREF_Toc38653552\h1HYPERLINK\l"_Toc38653553"（一）研究的背景及意义PAGEREF_Toc38653553\h1HYPERLINK\l"_Toc38653554"（二）研究的思路和方法PAGEREF_Toc38653554\h1HYPERLINK\l"_Toc38653555"二、偿债能力相关理论概述PAGEREF_Toc38653555\h2HYPERLINK\l"_Toc38653556"（一）偿债能力的概念和本质PAGEREF_Toc38653556\h