Airlines and T&E continue to be lagging but are getting stronger. In fact, if you listen to any of the airline sort of quarterly results, you know, the leisure travel is really back to pre-pandemic levels and business travel is starting to pick up pretty nicely.

Jul 15, 2021 / CFO / receipt, needs a key / Terry Dolan, CFO | earnings call 2021-07-15 | transcript 682a3fa1-739c-47a7-a0b5-8a8f0e1ce661 | chars 11587-11849 | segment 11

The other thing I would just say is that, you know, corporate T&E continues to be the one area that is still down quite a bit, but it is improving a little bit faster than maybe what we had expected.

Jul 15, 2021 / CFO / receipt, needs a key / Terry Dolan, CFO | earnings call 2021-07-15 | transcript 682a3fa1-739c-47a7-a0b5-8a8f0e1ce661 | chars 11850-12049 | segment 12

Improving sales growth in North America was more than offset by expected declines in European sales due to COVID-related shutdowns. corporate payments revenue declined 13.1% year-over-year as travel and entertainment revenue continued to lag.

Apr 15, 2021 / CFO / receipt, needs a key / Terry Dolan, CFO | earnings call 2021-04-15 | transcript f9fd885f-895f-4732-9ff0-5415b77649d0 | chars 9533-9775 | segment 9

In the first quarter, we expect both merchant acquiring revenue and corporate payments revenue to decline between 10 to 15% on a year-over-year basis, reflecting lower travel and hospitality volumes compared with pre-COVID levels.

Jan 20, 2021 / CFO / receipt, needs a key / Terry Dolan, CFO | earnings call 2021-01-20 | transcript ab1e0914-fe1f-4fa3-a95e-5d44a8425257 | chars 9712-9942 | segment 9