According to reports, airline stocks continue their recent upward trend. As of press time, China East Air 00670 rose 5.31% to HKD 3.77; China South Air 01055 increased 4.33% to HKD 4.58; Air China 00753 gained 4.08% to HKD 6.12; while Cathay PAC AIR 00293 saw a 0.94% rise to HKD 10.74. In terms of news, oil prices have fallen for three consecutive weeks, with the average price of aviation fuel in October down 0.1% year-on-year. On the currency front, last week the central parity rate of the renminbi against the US dollar rose above the 7.1 mark, reaching its highest level in over 11 months. CITIC Securities indicates that the demand for civil aviation may benefit from fiscal policies, with costs potentially reduced by falling oil prices, although there are still pressures on the exchange rate. Additionally, Shenwan Hongyuan suggests that the industry's passenger load factor remains high and traveling on both domestic and international routes is thriving, with recent ticket prices consistently turning positive, allowing for a significant recovery in airline revenue per seat. Furthermore, with the implementation of “anti-involution” measures and the “Convention,” the phenomenon of malicious low pricing in the industry is expected to diminish, which could drive ticket prices up and further enhance airline revenue per seat. The combined effect of decreasing oil prices contributing to lower costs may enable airlines to achieve further profit growth.