Xinhua News Agency, June 20, Huatai Securities pointed out that the growth of civil aviation demand is cyclical and is a necessary condition for supporting the development of the civil aviation industry. At the same time, there is a significant correlation between macro-economy and civil aviation demand, and civil aviation turnover increases more rapidly in the period of rapid growth of national economy. We believe that China's civil aviation has entered a recovery cycle and the endogenous demand that has been suppressed in the past three years will be gradually released. Combined with the slowdown in fleet growth, China Aviation Department will benefit from the improvement in supply and demand, the liberalization of full ticket prices, and profits are expected to achieve a breakthrough. It is recommended that the layout of the aviation sector with continuous prosperity, and the selection of targets should consider factors such as route structure and the resumption of international routes.