And Mary, this is Ed. The conversation, it's also on the margins. It isn't as if Europeans have stopped traveling. They're still traveling in large numbers. The numbers may be down 5%, 7% in some of the markets. Long term, we think our business model is very healthy for global and you're going to continue to see us pursue that.

Oct 9, 2025 / receipt, needs a key / Ed, other | earnings call 2025-10-09 | transcript df41f021-f547-41a8-b8cf-1af5582b9793 | chars 57082-57411 | segment 59

At the heart of our position of industry leadership is a relentless focus, on elevating the customer experience. We're investing across every phase of the journey to make travel with Delta more seamless, personalized, and premium, growing our value proposition to customers.

Oct 9, 2025 / receipt, needs a key / Ed Bastian, CEO | earnings call 2025-10-09 | transcript df41f021-f547-41a8-b8cf-1af5582b9793 | chars 4804-5078 | segment 4

And usually, we're not able to generate significant returns in the off-peak, many months in the off-peak. just really, really strong, not only advanced bookings, but close-in business travel going in the transatlantic has been incredibly strong.

Jan 10, 2025 / receipt, needs a key / Glenn, CEO | earnings call 2025-01-10 | transcript a9fef077-723b-491a-b260-deb7c3f35538 | chars 22702-22947 | segment 23

Unit costs grew 5.7%, including a 3.2 point impact from the CrowdStrike-caused outage. and a half point impact from the decision to reward employees with travel passes for their hard work through the summer.

Oct 10, 2024 / receipt, needs a key / Dan Jenke, CFO | earnings call 2024-10-10 | transcript 5e3c2ac6-7b7e-4cd0-aafe-6c8cf06319c7 | chars 13232-13439 | segment 13

To further differentiate our service excellence, we are making high return investments that make travel more seamless and connected, including generational airport rebuilds, the most comprehensive lounge network in the industry, expanded premium offerings, and fast, free Wi-Fi onboard.

Jul 11, 2024 / receipt, needs a key / Ed Bastian, CEO | earnings call 2024-07-11 | transcript 155d7306-3f4f-47df-809c-b1b6598ff7ac | chars 3804-4090 | segment 3

Turning to our outlook, with strong first quarter performance and visibility into the strength of summer travel demand, we remain confident in our full year guidance for earnings of $6 to $7 per share, free cash flow of $3 to $4 billion, and leverage of two and a half times the three main guideposts that we shared with you in January.

Apr 10, 2024 / receipt, needs a key / Ed Bastian, CEO | earnings call 2024-04-10 | transcript 707fe040-cb23-43c0-a62c-0ca78537e4cf | chars 4978-5314 | segment 5

Demand continues to be strong, and we see a record spring and summer travel season, with our 11 highest sales days in our history all occurring this calendar year.

Apr 10, 2024 / receipt, needs a key / Ed Bastian, CEO | earnings call 2024-04-10 | transcript 707fe040-cb23-43c0-a62c-0ca78537e4cf | chars 5608-5771 | segment 5

Delta's core consumers are in a healthy position, and travel remains a top purchase priority.

Apr 10, 2024 / receipt, needs a key / Ed Bastian, CEO | earnings call 2024-04-10 | transcript 707fe040-cb23-43c0-a62c-0ca78537e4cf | chars 5917-6010 | segment 6

George Munro, And business travel demand has taken another meaningful step forward this year with growth accelerating into the mid teens over last year.

Apr 10, 2024 / receipt, needs a key / Ed Bastian, CEO | earnings call 2024-04-10 | transcript 707fe040-cb23-43c0-a62c-0ca78537e4cf | chars 6130-6282 | segment 6

Managed corporate travel sales grew 14% over the prior year, with technology, consumer services, and financial services leading that momentum.

Apr 10, 2024 / receipt, needs a key / Glenn Hauenstein, President | earnings call 2024-04-10 | transcript 707fe040-cb23-43c0-a62c-0ca78537e4cf | chars 8121-8263 | segment 8

The outlook for corporate travel is positive. 90% of companies in our recent survey intend to maintain or increase travel volumes in 2Q putting us back on track to deliver record corporate revenues in the back half of this year.

Apr 10, 2024 / receipt, needs a key / Glenn Hauenstein, President | earnings call 2024-04-10 | transcript 707fe040-cb23-43c0-a62c-0ca78537e4cf | chars 9706-9934 | segment 10

Well, generally, the Olympics are not good for airline revenues. And this year, I think, is no exception to that. So while We see a very favorable backdrop for Europe in its totality. There are some challenges for Paris, as generally business travel ceases to and from the local markets as the Olympics approach. So I wouldn't say that that's going to be a windfall. It's actually going to be a bit of a headwind for us in the numbers we've shared with you.

Apr 10, 2024 / receipt, needs a key / Glenn, CEO | earnings call 2024-04-10 | transcript 707fe040-cb23-43c0-a62c-0ca78537e4cf | chars 24286-24743 | segment 25