Zheng Quan Shi Bao Wang·2025-07-31 12:53Core Viewpoint - The report from Guotai Junan Securities suggests that short-term demand fluctuations do not alter the long-term growth logic of the aviation industry, recommending a contrarian investment approach in aviation [1] Industry Summary - The Chinese aviation industry has a long-term growth logic, with market-driven ticket pricing expected to lead to a recovery in supply and demand, pushing profitability upward [1] - The aviation supply has entered a low growth phase, but short-term demand fluctuations do not change the medium-term stable growth trend [1] - It is anticipated that supply and demand will continue to improve over the next two years, supported by declining oil prices and accelerated profit recovery due to reduced competition [1] - Recent risks associated with peak season competition have been alleviated, reinforcing the recommendation for contrarian investment in the aviation sector [1]