Many airlines have been aggressively hiring and training not just pilots, but also other in-flight personnel and airport operations staff to provide operational flexibility. This hiring has driven airlines' unit costs sharply higher, and they want to increase aircraft utilization and sea capacity to help spread their costs.

Aug 2, 2022 / CEO / receipt, needs a key / Sean Minke, CEO | earnings call 2022-08-02 | transcript 94c537a7-1617-4c65-a5f3-bca37c2e2f54 | chars 6129-6454 | segment 5

As the impact of the Omicron variant receded in January of this year, More countries relaxed travel restrictions and bookings started to steadily improve again. Relative to 2019, the second quarter of 2022 actually showed the strongest sequential quarterly bookings improvement since the pandemic recovery started in June of 2020. Corporate and international travel accelerated nicely during the quarter, driving our distribution revenue per booking higher.

Aug 2, 2022 / CEO / receipt, needs a key / Sean Minke, CEO | earnings call 2022-08-02 | transcript 94c537a7-1617-4c65-a5f3-bca37c2e2f54 | chars 3399-3856 | segment 3

Globally, we believe the desire to travel continues to be very strong. In fact, consumer demand is so great that in a number of countries, particularly in Europe, travel demand currently outpaces the ability of airlines and airports to efficiently handle the passenger volume due to staffing shortage and other factors. This has caused delays, cancellations, lost bags, and lower customer satisfaction, which we believe has constrained near-term net new bookings as passengers seek to avoid these issues.

Aug 2, 2022 / CEO / receipt, needs a key / Sean Minke, CEO | earnings call 2022-08-02 | transcript 94c537a7-1617-4c65-a5f3-bca37c2e2f54 | chars 4677-5181 | segment 4

It may not be the same that People are traveling to see, but when you think about what's happening within companies, and I can speak about Saver specifically, we have a lot of internal travel taking place, even though we're in a work-from-anywhere environment.

Aug 2, 2022 / CEO / receipt, needs a key / Sean Minke, CEO | earnings call 2022-08-02 | transcript 94c537a7-1617-4c65-a5f3-bca37c2e2f54 | chars 22535-22795 | segment 22

There may be some dampening of travel to see customers, although that's been more robust than we expected.

Aug 2, 2022 / CEO / receipt, needs a key / Sean Minke, CEO | earnings call 2022-08-02 | transcript 94c537a7-1617-4c65-a5f3-bca37c2e2f54 | chars 23120-23226 | segment 23

And with the fundamental shift to work from anywhere, there's going to be a lot more internal corporate travel than there was previously.

Aug 2, 2022 / CEO / receipt, needs a key / Sean Minke, CEO | earnings call 2022-08-02 | transcript 94c537a7-1617-4c65-a5f3-bca37c2e2f54 | chars 23227-23364 | segment 23

You know, there's a lot of U.S. citizens that are traveling abroad, and, you know, we expect that to continue.

Aug 2, 2022 / CEO / receipt, needs a key / Sean Minke, CEO | earnings call 2022-08-02 | transcript 94c537a7-1617-4c65-a5f3-bca37c2e2f54 | chars 26868-26978 | segment 27

As we reach the pivotal turning point in the recovery, we also gain commercial momentum and announce major new passenger service systems, or PSS, wins. We feel competitively well-positioned as we progress on the important work related to our technology transformation and expect to benefit from the anticipated continued travel recovery.

Aug 3, 2021 / CEO / receipt, needs a key / Sean Minke, CEO | earnings call 2021-08-03 | transcript 99d6c291-b885-4c29-aeb0-4bf59df69e5c | chars 3332-3669 | segment 3

As travel restrictions have relaxed or been removed, we have begun to see significant improvements. For example, following the recent announcement by the Canadian government to loosen travel restrictions, total GDS booking recovery in Canada improved by 29 percentage points from down 90% in April to down 61% in July versus the same period in 2019.

Aug 3, 2021 / CEO / receipt, needs a key / Sean Minke, CEO | earnings call 2021-08-03 | transcript 99d6c291-b885-4c29-aeb0-4bf59df69e5c | chars 6113-6462 | segment 6

We expect increasing global vaccination rates and the removal of or reduction in travel restrictions as illustrated by the recent changes by the Canadian government, will be a catalyst for improvement in corporate and international travel, which we believe would move our distribution revenue per booking back towards 2019 levels.

Aug 3, 2021 / CEO / receipt, needs a key / Sean Minke, CEO | earnings call 2021-08-03 | transcript 99d6c291-b885-4c29-aeb0-4bf59df69e5c | chars 6597-6927 | segment 6