China Galaxy Securities said in a research note that oil prices have retreated since mid‑June and civil aviation passenger declines in weeks 24–25 of 2026 have narrowed to single digits. With July domestic aviation fuel surcharges and gasoline prices expected to fall back toward pre‑war levels and autumn holidays imminent, Q3 travel passenger growth is likely to turn positive, supporting marginal earnings improvement across the travel sector.(金十数据)