We believe SABR is a travel recovery investment opportunity in the near term based on these points. But SABR offers much more as an investment than just travel recovery momentum. As we look ahead, we are investing to drive EBITDA, EBITDA margin, operating income, and free cash flow higher than 2019 levels.

Feb 15, 2022 / CEO / receipt, needs a key / Sean Minkey, CEO | earnings call 2022-02-15 | transcript 74fee4cd-5c8c-4c00-9607-f6682364a51c | chars 7166-7473 | segment 7

We continue to be bullish on the return of corporate travel and recently expanded our commercial relationship in the more profitable corporate travel segment with American Express Global Business Travel. This long-term strategic partnership includes incremental bookings for us and a multimillion-dollar annual investment in joint technology by GBT.

Feb 15, 2022 / CEO / receipt, needs a key / Sean Minkey, CEO | earnings call 2022-02-15 | transcript 74fee4cd-5c8c-4c00-9607-f6682364a51c | chars 10025-10374 | segment 9

We expect Europe to recover more slowly due to greater fragmentation and tighter travel restrictions.

Feb 16, 2021 / CEO / receipt, needs a key / Sean Minkey, CEO | earnings call 2021-02-16 | transcript f2207b33-993e-4f97-b025-566e7b87d81b | chars 8430-8531 | segment 8