The aviation market continues to experience strength in passenger demand. TSA data shows daily checkpoint screenings routinely averaging above 2.8 million in July and August, up incrementally from 2024, underscoring healthy demand dynamics in domestic air travel.

Sep 5, 2025 / CEO / receipt, needs a key / Scott Salmiers, CEO | earnings call 2025-09-05 | transcript eb15fabd-ba22-4e64-8dc4-ef19ef75606a | chars 8471-8734 | segment 8

Following a rapid recovery in travel last year, consumer and business travel, including parking and transportation, has largely returned to pre-pandemic levels.

Mar 8, 2023 / CEO / receipt, needs a key / Scott Salmiers, CEO | earnings call 2023-03-08 | transcript 35df8f10-074c-4e0c-a452-93cfa5fed42c | chars 4221-4381 | segment 4

Moving to aviation, travel, including parking and transportation, has nearly returned to pre-pandemic levels. So we expect our growth rate in aviation to moderate in 2023 from the elevated level we experienced in fiscal 2022.

Dec 13, 2022 / CEO / receipt, needs a key / Scott Salmiers, CEO | earnings call 2022-12-13 | transcript 7297d121-430d-464b-9b55-cfe6f11347bb | chars 4314-4539 | segment 4

The labor pressures we are currently experiencing are largely unprecedented, with unemployment at historically low levels, immigration greatly reduced from prior years, and with high demand from the rapidly recovering travel, restaurant, retail, and service industries, labor shortages are driving labor inflation. We are seeing wage pressure in both blue collar and white collar positions and a real battle for talent. We expect these challenges will persist into 2023.

Sep 9, 2022 / CEO / receipt, needs a key / Scott Salmiers, CEO | earnings call 2022-09-09 | transcript a7f08c2c-8a30-4fec-8606-2a7811da427c | chars 9237-9707 | segment 9

Moving to aviation, the summer travel season has been robust, driving growth in airside and landslide operations, which include parking and transportation.

Sep 9, 2022 / CEO / receipt, needs a key / Scott Salmiers, CEO | earnings call 2022-09-09 | transcript a7f08c2c-8a30-4fec-8606-2a7811da427c | chars 4501-4656 | segment 4

Business travel is also improving, although at a more measured pace.

Sep 9, 2022 / CEO / receipt, needs a key / Scott Salmiers, CEO | earnings call 2022-09-09 | transcript a7f08c2c-8a30-4fec-8606-2a7811da427c | chars 4735-4803 | segment 4