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Core Viewpoint - The article highlights the significant increase in travel demand during the Qingming Festival in 2025, driven by a strong recovery in domestic and international travel, alongside favorable oil price trends that are expected to positively impact airline profitability [8]. Group 1: Oil Price and Airline Costs - OPEC+ announced an unexpected increase in oil production, leading to a substantial drop in Brent crude oil prices, which fell by 12.5% from April 2 to April 4, with a year-on-year decline expanding from 14.3% to 26.6% [1][6]. - The price of aviation kerosene is expected to further decline, with a year-on-year decrease of 5.5 percentage points to 15.2%, which will positively affect airline operating costs [1][6]. - A 10% fluctuation in oil prices could reduce the fuel costs for major airlines by approximately 45.5 to 55.0 billion [1][6]. Group 2: Travel Demand and Passenger Volume - The Qingming Festival in 2025 saw a 9.7% year-on-year increase in cross-regional travel, with significant growth in railway (8.4%), civil aviation (8.6%), and highway passenger volumes (9.7%) [2][8]. - The National Railway Group predicts a 12.7% increase in passenger volume during the holiday period, with a majority of travelers opting for short-distance trips within 500 km [3][4]. - The average daily passenger volume for civil aviation is expected to grow by 10.3% during the Qingming Festival, with domestic flight capacity reaching historical highs [5][8]. Group 3: Market Trends and Future Outlook - The article anticipates a transition in airline ticket pricing from "industry self-discipline" to "supply-demand optimization," with a projected average ticket price decrease of 7.9% compared to the previous year [6][8]. - The recovery rate for international flights is expected to reach around 90% of 2019 levels, with popular destinations including Japan, South Korea, and Thailand [5][8]. - The combination of strong travel demand and reduced fuel costs is expected to lead to improved profitability for airlines during the off-peak season [6][8].