GTJA Securities released a Research Report stating that Aviation has long-term logic, and the Spring Festival travel rush may catalyze optimistic expectations, maintaining a shareholding rating for Aviation. China's aviation industry has an unexpectedly rising profit center in the long run, with a clear recovery trend in supply and demand expected by 2025. Taking into account the marketization of ticket prices and a significant slowdown in fleet growth, it is anticipated that the profit center will begin to rise. The demand during the 2025 Spring Festival travel rush is expected to be strong, and the limited additional flights may lead to optimistic expectations in the industry, coupled with an improvement in oil price pressures, which is expected to show unexpected profit elasticity, catalyzing an optimistic outlook. The market's long-term expectations for Aviation remain low, with greater divergence indicating more space. The 2025 Spring Festival travel rush, as the second normalized Spring Festival travel period post-pandemic, will have an extra day added to the holiday, with the potential for extended holidays. Strong demand for travel during the Spring Festival is anticipated, and civil aviation passenger volume may reach a historical high.