This has already been demonstrated in terms of demand for domestic travel, primarily in the US, and we expect international travel as well as Europe and the rest of the world to follow closely behind.

Aug 6, 2021 / CFO / receipt, needs a key / Ernst Tonneson, CFO | earnings call 2021-08-06 | transcript b2c23f45-960d-4ad5-a5f8-304ac8dc9f18 | chars 4633-4833 | segment 4

On the other hand, persistent lockdowns across Europe and challenges throughout international markets, as well as the absence of international travel, remain significant drags on our results.

May 7, 2021 / CFO / receipt, needs a key / Ernst Tonneson, CFO | earnings call 2021-05-07 | transcript 1bfe0c26-b266-4d55-9b65-149609a50b99 | chars 5763-5954 | segment 5

Operating expenses in Q1 were 32% lower year on year. we expect the majority of the fixed cost savings that we generated in 2020 to persist, positioning us for operating leverage as the travel environment normalizes.

May 7, 2021 / CFO / receipt, needs a key / Ernst Tonneson, CFO | earnings call 2021-05-07 | transcript 1bfe0c26-b266-4d55-9b65-149609a50b99 | chars 6547-6763 | segment 6