The Cathay Pacific Junan Research Report points out that aviation is currently at a short-term low point after the May 1st holiday, domestic passenger flow is still growing steadily, while ticket prices have dropped significantly. With the gradual resumption of business travel, the market experienced a double increase in volume and price last week as scheduled. Passenger traffic in China increased by nearly 10% compared to 2019, and domestic ticket prices rebounded by more than 10%. Observing that ticketing volume has continued to rise steadily recently, it is expected that the subsequent market will continue to show resilience in demand. The low peak season in the aviation market in 2024 is obvious and will continue. Demand is strong during the peak season, and the profit center rises; demand in the off-season is resilient but supply and demand are still under pressure, and steady international increases will continue to drive the recovery of supply and demand during the off-season.