United Airlines (UAL) 20 Oct 212021 Q3 Earnings call transcript

Good morning and welcome to United Airlines Holdings, Conference Call for the Third Quarter of 2021. My name is Brendan and I will be your conference facilitator today.

Following the initial remarks from management, we will open the lines for questions. At that time, if you have a question, please press star one on your touch tone phone. This call is being recorded and is copyrighted. portion without call the no transcribed, be that rebroadcast or Company's note of may the recorded, Please permission.

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terms, line. If drop your Investor host Kristina the with Relations. not call, you to these today's Director do presentation over off will I Munoz, the for now Please turn agree ahead. simply of go

range is Company's call, currently cause table Earnings materially differ out earnings and and refer our description more thorough by to measures will XX-K concerning directly the GAAP are earnings factors. available most current Conference Officer beliefs www. And conference number to to which Form the Good forward-looking Brendan. forward-looking SEC United Airlines based to refer these actual measures the we for reconciliation end annualized results you, of release other with earnings Please from of our these at made welcome release, filed our United statements A represent morning, and holdings our could on available and everyone to which current Yesterday, website expectations course financial XX-Q the ir.united.com discuss statements expectations. several non-GAAP factors please Call. yesterday measures, Quarter are events comparable the at the for large a the during to non-GAAP or of release. information reports on Thank Company. we relief issued future of XXXX Third Information and

results today our and in Chicago us Joining outlook. to discuss

Chief Officer Commercial Officer Executive Hart, President Gerry Vice Chief Laderman. Officer Andrew President and Executive Executive Chief Our Kirby, President Brett Scott Nocella, Financial and and Vice

Scott. team [Indiscernible] members I'd we of And to turn the the In now other call have online over and executive like to Q&A. addition,

eventful during also for customers to than we care my each last a normal us months other more the United as everyone, refugees relief world, a of today. done we've of we strain by team and morning pandemic. equipment thanks and and the of XXX and flying vaccine, taking what times of thousands from summer, to in been personal want medical thanks as oxygen of around canisters our this an start XX Good I the even at thousands things. billion and Afghanistan joining other India. efforts expressing the stress doses over all returning standout, tons to delivering for Among and the part of from a Despite humanitarian many

flight -- service, reliable COVID operations knew from the ups Our began the details people significant avoiding bookings run risk. team United business we customer long-term issues recovery the the anticipated on January. Singapore, opening expected as in Europe, and phenomenal in and industry. that this many second of to have of emerging a deliver is remains moving right Delta will more in -- point Australia, perspective, now the and Though half an begins about demand with a but was that and year inflection of business the Andrew track you my from the of the variant downs give continued direction. aviation have and far obviously The too quarter and leader demand effectively We aviation. leisure strong third leading Most vaccine and prominently soar the global with efficiently off on in pent-up the by implementing our requirements. kicked remained as momentum bookings early state

just airports structural XX% remain X% see our down on is implemented in really United. I United other advantage. just I we trends CASM we places a changes to about this, in it but Airlines, and math minutes approximately approximately versus it I the and read X expectations efficient press our during walk we that become the out near-term one, a the real on Number The Before airlines COVID. on comments lead believe of struggles shareholders. Number high lay geography choices XXXX, want at XXXX, unique picture and technology have take industry-leading, two, to really competitive that through environment, can or skeptic plan not at that's X% know view efficiency there as [Indiscernible] XXXX. big we I x happening we investment engaged down United something a make will within were longer-term about there's is more traditional are airlines, for in in track growth. move becomes costs also but for But discussion in at to because down of XXXX few much least

more. smallest Atlantic while the down in Pacific the running United a been have coastal business XX% U.S. terms, XXXX, is and where greater XX and United, the been The exposure. largest airline, to given has Latin than or geography a of range percentage in our revenues, other the United largest, headwind domestic been During pandemic, versus international have XX% mass and any for

Pacific those unlocking and minimizing as improving and of a driving most international connected terms domestic at with those But market investors, MPS at significant extraordinary wide-body United mentioned [Indiscernible] supply [Indiscernible] to Hire to many significantly disadvantage advantage a the headwinds supply industry of are United growing come, turn COVID, aircraft narrow-body headwind, domestic already managed, and improving for global noticeably we've revenue our the top, than three, current tailwinds choice. Number I sustainable, is of losses. next we United produced the post-pandemic. than in expect professionals. geographic the for importantly long-term service during for products outperform Atlantic into significantly customer become different a despite the and results line which However, the the to better will the power in geographical network. long-term rapidly expect or the years we

several four, united, help customers us in This premium to as We expect delivery narrow-body airline narrow change work we years. next at matters diversity, fly washing to all action revenue. with in United real accelerate is make doing by aviation the on Number and United remaining ESG of and not hundreds And customer employees, and customers, already the the commitments friendly, retrofit the drive as XXX. regulators. that today aircraft of take it's choose in our new improvement unique will declined global will and of leader our bodies exemplified the green we're

outlook. think that in I in next come. customer evaluated And our reflected years united it leads all and see you'll to perhaps, even financial [Indiscernible] of the to

that We return way will revenue front, until XX, absolutely target all takes and remain we targets track XXXX x the [Indiscernible]. and CASM united next on our get it the assumed to to XX% on our

TRASM EPS hopeful the stronger than share around we actually remarkably that. what close expected current an around and at trajectory our still will closing, -tax year. last at May be appears and expect to adjusted of playing out to assumption pre be hopefully count. That In XX% XX of of we're adjusted to margin conservative While leads COVID

Our expectation that starting singularly anticipate believe international Christmas perspective Pacific, both see that beginning we depths Australia the also for across United that but remains on in unique, recovery. with crisis, if we're ultimate forecast of structure now of and openings of India hand it and to fully I'll earnest the found aggregate, was and business and long-term a was in on that on strength then back would permanent our But the until demand That recovery, would now put demand, position changes start we uniquely the in robust and those fleet Singapore. to just remarkably to total reap the And to pressure. looks us January we're the XXXX market cost to decisions of ultimately European of would And and the the a make international we always probably recover over with the Brett. it rewards diseases. new setup demand and successful now XXXX. presence of including

employees hard quarter. our Thanks, mandates, Scott. as months pandemic. of have work to customers for as the our also get I'd travel seamlessly destination regularly and our been Despite did start in team since restrictions, protocols job changing busiest new fantastic the commercial our their their XXXX, that of thank air was a part possible. in the to helping July like

lifted scores customers the record of look driving bookings. this We specific year international the announcement, international And confusion Europe, are for more worst in system looking robust. Atlantic the effective new from pleased over years, have entering us bookings announcement more wave travel in that the regulatory will UK, employees. Xth vaccination the of MPS changes ahead, of changes global be the international from any [Indiscernible] December. for our date proof seen even the As U.S. variant. a replaced two XX Delta recently November locations year-to-date. increase momentum for all are details, Since is and there were that and visitors to believe requirements the other requirement our forward evidenced by over impact on about We from restrictions gives including be the what point-of-sale of to avoid is [Indiscernible] expectation we past November XXXX, by will confidence U.S. in This and restrictions travelers the and to now particularly summer agencies so-called the by our we announced India, We're by high entry some the in

recommendations tool and regulations United innovated rules airport. much possible for our stress which Additionally, and leading as customers tests. our to gives upgraded vaccination, it the [Indiscernible] navigate as travel repeatedly customers advantage as app, evolving requirement and quarantines, as we in reduces or have United tool This our COVID-XX at and they the relates to of outlines industry

for international We are the ready travelers. returning

changes more employees, Scott chose our small It accommodation committed employees XX.X% Lastly, their experience back. of providing government saw regulations. United our of confidence or also that medical and hampered of We're that operations can a knowing with the not get be and our environment vaccine in to exception will safest mentioned, with than we as US possible. to book religious to by the customers means travel number

of have our hiring front. on Speaking been we proactive operations, the of the reliability

gallons the In and we we pilots, to which quarters partnered XXX% aviation month, on and fuel welcome three green hired more become ESG new steps contributes goal, During intensity carbon a by third reducing all quarter, journey we net yet basis first XXX% nearly another by sustainable fuel, important on in airline to and three apply do is well XX% zero largest agreement. than our more flight sustainable with over industry's we aviation in the than total double combined Making commitment have XXXX. first years. billion week, our attendants by affair XX XXXX X.X of airlines that Last we became hired rest the classes we also the X,XXX public the announced of of the XXXX, purchase of commitments. which on our total [Indiscernible] the made XXX, by flight to to commit plenty investment of Last and a our world's the both XXXX. emissions

were haul. also upon the so XX the in troops Afghan was We've in reserve quarter bringing called prices punctuated third The Afghanistan. flights or approximately U.S. to by to military to-date. air the and US We XX,XXX operated assist back craft fleet

for at [Indiscernible] and We we our members maintenance also initiatives. as breath bonds their in Airport travel to and hangar extend crew the have are such members. Dulles XX We're enduring warm military our MP microbus, meal temporary opportunity converted that I Working rest, raised Afghan take evacuees to U.S. service. from remarkable than and my continue with or a We're many these X,XXX after incentivized our Shelter. new through take support journey. donations years good MileagePlus their ties betterment. miles also More employees for a lives donated million a their a our to medics, guest in hands personal participate want get have thanks helping partnership to we this heartfelt begin where to

in the confidence of not innovation to to in ability has changing that. financial to and more those That our of hand put me or it on proud work can back targets gives detail the pandemic. the dimmed we us help our how I'll by it been describe you We've it we've spirit in the out. to makes do now incredibly regulatory expertise to to adapt all to this laid economic us up. As more meet Andrew plan Company off see, relied at to need. and United environment

our before outlook, to Thanks, that business of talking fourth-quarter acknowledge the on substantial. the Delta or third results the Brett, quarter the it's variant impact important about was

consistent than number July one, expect is the XXXX with or of several and ago the Those or November retention the seen included, new better. Delta past. travel back demand our levels, we in, similar XXXX. XXXX announcement of and upcoming Brazilian traffic travel now close meter. card week across above matching business at bounce level. and pre near in book acquisitions demand. yields than have worst Two, levels business XXXX are -- of leading to with rebounded in booking the quarter, levels. with above return to where are domestic first is Nine holidays passenger domestic levels to has and indicators - better largest restrictions beyond last co-brand quickly, levels for Atlantic months and In award as better for up Latin bob by passenger for better of business the weeks However, the traffic. weeks, early this on been well were demand XX smallest. our X, are a since has few we've indicators other strong domestic XXXX wave spend the few than Atlantic cancellation The now time. are from for XXXX this for we we've for strength increasing rates rebounded bookings consistent levels positive travel as last was week, is for levels consistent Three, levels a levels have seen tracking are yesterday accounts the lower slightly Eight business X, -Delta exceeded our to our are demand pre rate now XX%

points our solid XXXX indicators basically XXXX. a positive revenue these (X) we've $X.XX United, outlook XX% summer is premium a our in been by record XX the domestic in relative point points XX ancillary a on And markets versus reached it's and These XXXX pandemic. to transatlantic tend X evidence levels believe growth improvement term plus load important. XX% came indicators bright for increased XX% next, of that's above. talk revenues one, tracking are factors long to United While premium with leisure in set less enplaned for levels, feet XXXX about relative strategy, domestic months the include XXXX the we another strength of were passenger. in Whenever paid (X) our economy summer. this gauge per I despite And of I recent business massively. our in leading QX focus indicators first-off during of revenue cabins load this leisure of from paid factors,

across United also in years. increase, believe gaps a seven leisure Well, revenues our a competitors still our X original in outlook. is few domestic to our leisure for gross simply next as in increased incremental by However, our trend to missed fleet, add longer-term closing full. that return for premium outlook counts season X us This traffic long-term material versus past premium primary we to points demand demand potential overall this -- will the is are recent of we matching homes and our yields

to only and in yield outfit if proved they even succeed given our levels made premium it remaining leisure products. our will gains, We've XX XX% mid-tier returns Further permanent. these if efforts. with [Indiscernible] plan Our our decision plus XXXs leisure these the to new revenue of XX yield, to premium XX

to that we now cabin the AXXX will In XXXX best confirm So this our offer performance across XXXX future all relative was mid-tier gotten. plus on that separate ex-large. we this Atlantic XXX can product, the of deliveries include performing also premium

Third my Effective and of XXXX the turn to domestically when normal to our and of preview to our business competition, United will quarter now always lower with with X% XX% below track [Indiscernible] customers blend. down performance will provide only our XXXX marginally given into in few. October Delta supply will outlook, yields elevated Plus feel segmentation we model to by for something anticipate from continue XX% and I fell fourth were achieve performance part year continue getting we Basic versus revenues to July focused temporary more as choose July, by The where September. positive makes have September, durable August about want near-term Our of than in to of faced but in positive demand levels update a were of offering the and versus I did strategies an quarter large years. pricing impact been the bookings revenues and expected. [Indiscernible] caused [Indiscernible] Traveling Close capacity imbalance Polaris early Customer range the often segmentation the track Economy. in coming of industry are the internationally 'XX, Quarter levels, total last Premium products the XXXX. but better yields for we variant. better in the for

Just operation a from reviewed of year, was best performance. United. the on available launch United we again again partner as expect cargo quarter revenue that wide-body record in third cargo XXXX previous results quarter in once remainder quarters, which XX% cargo cargo delivered jets will the all for are again Total up was and the flights our leading for record. has

Turning fourth to business XX% end Its Delta the at impact variant now now versus the expect on we be quarter December with yields range. down XXXX total is gone. to November travel continues. of demand through on outlook, leisure quarter on impact revenue the our to top and fourth XQ the In XX%

quarter We domestic expect international. to for XX% in for down XX% versus come capacity XXXX and XX% down the fourth

season. matching capacity demand. for our we down customers, be We add operation capabilities we X% domestic our while December, slowly continue consistent deliver holiday a as expect to prepare to also only for our very a will By back with consistent capacity strong for expectations

fly and grounded. to just of have [Indiscernible] temporarily [Indiscernible] expected XXX quarter this we to continue XX XX fleet Our not are

service demand. return summer in by of time XXXX, strong these ground for expect We ingests June most to to

if will America look earlier, that to Latin to indicated across by Atlantic be I approximately travel into and accelerate our Atlantic traffic lines currently X for beyond. summer early have remain XXXX will and X% gradually We XXXX the reacted for expect year. the lowering well We and we next restrictions build above levels optimistic As versus XXXX and and to business the XXXX. Latin passive November

expectations we our in our where markets and plan, Our to demand, pricing XXXX. XXX% XX% supply, and about growth consider of of the international versus international, be capacity focus expect macro

XXXX our continue We Atlantic streams, jets ten which our of last for diversify we conditions our Africa, wide-body the we're unneeded capacity past domestic XXXX, flat. announced centered. global focus business Consistent around Italy. routes our the diversifying such international have by also needed to scope We're new expect as destinations, a with York growth historic revenue as Most or shares Many is and as of partners. we routes is lengths if in feature New even result, routes routes a to East. of week we agile One the our for new ground premium our are these potential low premium Washington. approximately all leisure Middle be new our gateways the loop As in and additional geographic leading on warrant. across remain Atlantic compensating India, of have to in with also business United very Bergen leisure days common planned of star and

have work towards for more later international significant outlook. announcements month XXXX we We this our one finalizing as network planned

expect We've world. by across other with services some do in QX airline partial news Most and U.S. recovery being in leading from seen opening of hardware Pacific we the great demand Australia capacity supported Singapore. really recent parts the days is revenues. of that slower a our of As versus

our to many that not cycle. across in XXX [Indiscernible] jets have as industry number be the premium period And of primary X XX, per trend, improvement the cabins, capacity continue aircraft, departure that [Indiscernible] competitors. We are wide-body as [Indiscernible] lead large premium industry, advantage carriers down the international approximately strong have expect to of versus take with XX the jets for will seat XX% grounded but and retired of including to only largest wide-body margin our long-haul in we positioned Atlantic approximately same an last many have United been expect average we capacity seats

where narrow-body Thanks But in And modifications to the domestic summer difficult interior consistent Each the wanted we're team with more Washington back our taking global every feel. the mainland [Indiscernible] financial seat, Have stand. entire and jets set a our remainder of months, into now economy pretty to customers. We fly with few United going NPS to rebuild of to we results has see indulging that at of starting thanks reopen large cabins. these monitors I We things materially this our plants by tomorrow. and with XX new our the delivery Briefly, long hand interior. signature plug Polaris taken early the Gerry to and discuss so and scores talk with off than higher XXXX, outlook. this mainland we As of will are team network, that, days United our where the [Indiscernible] We now of this United. Next for to have soon fleet over rather I'm about explanation next our other hit superior brand connect and begin yet it entire signature our importantly, look give any conditions. lounges to for delivering me

the reported customer And But and remarks, quarter solely [Indiscernible], our to CASMx to variant versus of everyone. pretax that than that pre capacity This news in -tax good month around XX% our July, We Scott was the XXXX we The expectations around Andrew discussed, guidance. up loft of your is obviously versus adjusted on and I million track CASM Andrew. the will August from fourth when XX% to quarter. the in an the comfort was as Andrew spoke $XXX shorter increase quarter of in million. in and attributable the reproofing take XX loss this but different improvement impact income expect fourth Delta of quarter. further of be everyone fourth down fourth Thanks, XXXX. XX% in quarter the can quarter XXXX. around Good We morning, $XXX currently third is travel third our the fact verbose are for the September. we of for on to better on x you

putting Looking for and our to in year, are we in plans beyond financial this XXXX together more expect January. of middle share we the color knew

However, confident I wanted to now x give CASM highlight that us items a in our few out.

$X.X we our structural we which are from exceeding First, in identified, approximately have on as billion target we next savings by summer. initiatives, cost expect to fully benefit

As that the employees a includes can of XXXX. proof employees. point needed XX% of schedule reduction this XXXX success, than permanent significant number in and to we management fly we estimate larger same This a with we in

of gauge to the we Second, return the allows high ultimately as us CASMx to low more the of to next expect will step This first half the to appropriately and aircraft improvement, right fleet. in aircraft return these XXX service markets, which ground CASM year. match the XX right drive function

supply pressure, Third, outlook for and includes of inflationary across am than we of from ranging both all bottlenecks. confidence that wage is seeing reasons are today business. It by our XXXX CASMx to in our that pressures We for our three is vendor lower these higher outlook chain I XXXX achievable. XXXX aspects fair

negative for CASM and foundation XXXX we've X% achieving sets also it the and for x already a X% schools Importantly, achieved, XXXX, discussed. negative firm which

XXXX that [Indiscernible] June. today get back XXXX our confident goals I fact, feel and in In more

superior and achieving Importantly, while experience for a in our these we're customers. product also targets investing costs committed to

retrofitting aircraft our fleet For quality choices of delivered state-of-the-art bags, Bluetooth list long large these overhead of example, be are our standards. on with everyone's also seatback that with bins all screens. interiors, narrow-body with a of to and on including displayed rest enabled carry consistent [Indiscernible] new being We're the entertainment

throughout room and was Belgium sure new found I MX with was boarding The fact, with home customers In for our slight as PRU approvals full recently XXX to the XX verticals, all minutes the way. play those pre the for their on Houston by completely the all as everyone and flight knew flying backs. deplane newer a eight made about amenities earlier, from customers the engaged everyone

After the passengers year. flight entertained strode about with kit. at system seat even the this curious the I And were enough, Promoter And the amenity last enjoying flight by higher through I than was count, over As my children noticed I NPS the two-thirds for during Net the children's XX% of cabin sure new our flight, was back average least the several Score. system.

continue will types these enhancing We to revenue make of investments. product

continue across we plans $X.X driven reduce savings efficient program. to structural While gauge our for costs well billion unit our as as cost growth,

Turning XXX-Max to we now three adjusted be expected through XX of resulted year XXX delivery Including recur change, year. end now out deliveries mainline of already number aircrafts expect this to previously Capex shifted of XXXX we of one capex the currently to billion XXXX. take aircraft into expenditures, to aircraft XXXX. expect capital this A this and are to XXX expected this the in around addition in next of year, which $X in the year, related delivered

our and in times debt the adjusted acquisition in XXXX united cash X total a adjusted we'll next of use expect to X.X below mix times leases, We of in with to below including debt mix targets new balance mind, aircraft financial XXXX. and fund financing, and EBITDA the

As the drive quarter, to we contribution the while fund savings recovery our pursued progresses, balancing expect on returns access commitments. voluntary In we the [Indiscernible]. economically capital million which pension, a premium $XXX PBGC our and made to deleveraging third will

debt variant we years, maximize any pre as This of appears form our managing view -payable the Delta impact term. In took of efficiently we opportunity for to we add business the continue as for the meaningful our several to obligations and long is currently on earnings pension to our be our power take. While the focus closing the pension receiving, to make we to most debt. required not contributions another just expensive we are effectively the

quarter-end focus costs at a will of $XX current count. of revenue Our improving and margin XXXX on drive margin, XX% EPS -tax around share initiatives adjusted pre around and leading to adjusted

we're confident [Indiscernible], coming the are And that the the pass start ahead we strategy we our never with that, from as execute While being expected to Kristina I'll years. United Next United in pandemic have to best days recovery on it Q&A. the

now community. yourself procedure Brendan, from ask We'll analysts Please Gerry. the if needed, limit take the please the follow-up to one question. questions question. Thanks, question to describe and one

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Hey, taking thanks my morning, And everyone. good question. for

Gerry, look us about a very Sheet could the here? profitability you Balance things can is ambitious like, by of for improve or you how XXXX leveraging manage to capex, And there? what longer-term you out question do outlook then So Scott, and like maybe speaking trying obviously, to a those risk what put you've talk versus

for reduction year you in this So I can year XXXX in more those shifting the just tell but particular that into we'll year, bulk of caused some the January, is that just this on be XXX additive detail next have year. Capex were reduction next

capex, more into We debt, first you the assume those the you landed net this if in next reducing deleveraging. and could've this year, to Longer So are pre of should step-up half together, took -payable if think some of term, laser-focused will although have, of we had more narrow-bodies, simply on sort simply see got reduction most moved you consistent. balance we debt that year. year we capex don't. done XX year a we I add the when next But you

over next the that debt, to few the on economically reducing So as years, opportunity we prepaid. we're have to, going focus

our component I next critical united of think plan.

leverage if upside how up if Is get I premium network. I the margins plan guess yield you that, that on can potentially sheet can follow a you the Gerry, leveraging you and and manage balance earnings, faster? get to based get on down getting international faster to

also we keep the and flexibility that So is returns going directly bit yes the we implement the mind, plans, little profitability debt have we recovery as is longer. either into paying -- to a the answer down takes if go the in

to retirements, environment the few to deliveries the the whatever we years, flexibility next Over manage adjust and to aircraft have is.

America, Andrew please have go of Bank Didora, ahead. we From

everyone. Good morning, Hi.

maybe or Scott So Andrew.

the a -- expected the out expected think longer the recovery. to point bit that international recovery is take than to I there domestic is consensus this

on you before international curious year. domestic. if you just to growth as elaborate maybe your just on XX% -pandemic how it next could then pre So to Pacific grow, think And curious about relates levels to that your also, international capacity plans above back growth get

Pacific now improving to you of and that be to disclosed Atlantic the of rates will really Sure. is times. data, that. would the expect I a the of When all entities XXXX that going Definitely, Atlantic, levels. again, a said start you go our by I'll different detail. bookings growth need the world different our and I we across and we break through more is across said the tell the regions today are in the and recovery number the down that what take to be little bit we've our Particularly and past do already going

out a traditional We've East very is that will as aggressively and summer. bounce next Middle our the Atlantic into European into of and Africa going second capacity the point back starting We year a gone I is strong lot particular, expect the not core in well. point to And then markets. spring

Town example [Indiscernible] to For and new to have we in a our Ghana. Lagos Johannesburg, flight flying Cape

Atlantic, across revenue those numbers data pools we're well today. pools. We in feel very the revenue that we pools. in those bounce-back And good about our elevated good seeing new the pricing going revenue about into already very are about. really good And the that as So appear feel feel we in

are So accounting that accounting again, have allowed really a Atlantic. Atlantic slow for the We're Pacific the strong across that entities different anticipating. And going today, multiple strong of India in which that bounce just weeks we're recovery. the been last weeks really for numbers we're across Atlantic, kind with been -- with have is the incredible few over last back Atlantic

as money have the bullish we make the remain right most and think where the we we've think next we So plan to year. aircraft really can we pointed we

type question. importantly, same guess, And begin at operational lot you my it. of capacity Obviously, to been haven't rent then XXXX more of increasing I second operational have And levels. Understood. risks see seen What a yet Got do those biggest what challenges competitors, those do you that as your then, think as to is? just you the disruptions. you backup Thanks.

have was of Well, end at a month reason at larger who in the the different credit. than lastly, last has we competitors because you're Many the we February. times year. with way last way to had all the United. because and the uniquely collaborative including pandemic of operational realistic the through we that to processing, process, thought managing a in very really our all It the going right different -- challenges the thanks different this February had all for noticing back other past XXXX starts planning calls, year different going assessments to And drive get And that, the And all easy been airlines, many management of

For back, week now, you guys hours. a we X is X times but do

many week up states out pilots, the try the to have up So and make to. None in airline aviation us up. in we this is do. department, us tap on it to what a a realistic and environment assessment set collaborative meeting. together well, you complicated we in person experienced in having difficult single But X process jobs the that down, escalations. XX% shortages over when for year. on airlines it hours had do to environment airline led this XX% bring to and either or of every us have only aircraft kind other all everyone we is knows what each just with then us conflict complex that one cases And their decisions. that of airline really single it the process back keep everyone really flights and processes, That's on affect Every really there, initiatives. voice the we're or into a cruise because mask masks down pull them the deal at have different happening they of brought if position, negotiated other that, then that other where [Indiscernible] backed teams airlines our of is in reduction without we worked other still to and keep avoid Were airline of with and because we bringing And can attendants example. the around our Kukun it issues some board on happened that flight

skis that able during used and the at few by our say a back zero our we didn't to weren't environment support. fly to that on that really that risky we've as customers But job more certainly come I is other get have on wouldn't to starting We've tone demand them lose try grow to we experience and metered this read and the airlines, out to and what also is amazing the professional to rate customer you a over the tone issue. We be than flights. maybe about we as changed the Just we and grow. on United environment to different press trying in it going

you risk in the forward, airlines in mandate vaccine with -- it are we requirements we just and risks and -- incremental the talked I obviously in. mandate our it by completely that looking as did came happened think before forward, government a other for has the US we far, about did United different So aviation than vaccine biggest going at mandates. done we have managed

for up an to United, it off be employees those But whether to people you So a this state wrong, This done, they're And you the People all likely vaccine and listening thousands requirement do it have an going not meltdown, be airlines not imagine that huge people implementing for challenge of to test reason, backing employees? rear to some for day of that forget and view tens we purely can on thousands tens you a to are for But is in issue. can going of just to don't is I are positive. airlines employees apply get and of have going exemption other to think people mean, lead that reasons. their test employees and imagine one a safety did tested thousands are week. one if have be requirements. is test, of get to you not my need every to say tested path. in mirror encouraging it vaccine calling for

United. book with We're can Customers confidence than with done it.

you're airline if requirement. doesn't an rules get But, there United. government on caveat a by We confidence and follow booking with book have that vaccine to emptor. can You

go please JPMorgan, Baker, ahead. have From we Jamie

we structurally advocate that the strong comment trends Hey, Atlantic expectation the that the I of the the over good big Or outperformed you going view? I Scott, Pacific with on domestic shouldn't remarks it that a devil's suffer Is on your several might to how be? the in for sort years. the it like Pacific opening domestic picture and Atlantic is everybody. for shorthand morning, really expect next discussed look Why four at forward? question and

demand. Andrew, Ollen, Jamie answered Well, most supply we better the to but of me,

Okay.

is as that. take the those is change demand and supply-demand long more airplanes wide-body the long-haul retired, market. and have the And time simple different just XXX significantly around as really globe it's a balanced. in balance The supply international been balance to

Okay.

regions profitable Jamie, I that to carrier, it a respects, ways in in for advantage structural can we're in sense uniquely had think and and just it global when flag advantage the this able to time move going U.S. of. to long-haul, And add the employ I world as we're makes take new we is to a of some and do us and that where forward capacity is given our our comes are. gateways

I fuel Andrew, that, just hadn't missed changes Understood. the wanted relates while And year so you, sure it I surcharges. in I on to last as make to follow-up a got or any

do fuel exist in now have a about that? not think how how should do market? we they broadly international we So mechanism domestically. right surcharge your But And

countries to lot Jamie, that you with a go of ourselves. are surcharges, And mandated. around I by the we fuel fact, exists. certain those I oil care world in have then price to that kind into don't they get up There of their in and it it's countries, of other want set and take meeting down the of countries number detail.

being under around control, work the high as view we people or high. the think to business the I I we amazing but demand a fuel [Indiscernible] think recovering get of this sign things. is factories the fuel, done in of have price is that By world price way, as

and think thing. was So fuel higher-priced I'm not in industry going melons can -- When moves I time a bad said. demand a is through is being to the this good broken thing think I to the getting that well, that United as -- take right is price supply direction. some some just we and We're really temporarily.

numbers into and get I think get to as as a look break next year, better spring the particularly you you lot holidays. the day President's

are So I'm our and optimistic which earlier, like I to year about great next upcoming yields said and quality then positive, early for these is see. holidays yield out

you, Thank great. That's care. Thanks, Andrew. Scott. Take

From City ahead. go please we Sprint, have Steven

over of few everybody. follow-up a to morning, Good my the question months. actually, taking Kind And Jamie question. for past 's thanks

as domestic some you gradual up internationals maybe doing that of phasing of guys towards say, pulls out You you How the process mentioned are let's think of and more your said your capillarity hubs. domestic point-to-point we flying. some about where and move now, should out

had that our Andrew, a are at we return out and rapidly Sure. focused seven XXX% on normal, did which we're It's some to doing during middle the pandemic now, we of hubs. almost there we flying the opportunistically as look we point-to-point

reasons, our for higher are and of our And we metal. all there kinds pointing there. For worth think best margin opportunities best that's opportunity to

in So will proved flying our that's successful. very what's is has see. do We bit have of what point-to-point a system you left proved. little

focus. we So our That do not is to strategic will that. continue

is our focus on Our [Indiscernible]

you. will I Thank helpful. a ask let someone else Very question. Okay.

James, we Savanthi ahead. Raymond have Please go From Syth.

everyone. Good morning,

fourth guessing was a I lot the down capacity next getting help kind X% of was that of XX% from understand I'm just year? could I on but progresses to from up over me if that if bridge next you currently how comes in help quarter. wondering wondering that summer, Just could it the XX% year you down

is to we -- to [Indiscernible] we that timed where demand measure where think be. or capacity going Sure match

year is So to higher be number in low part early the pretty and part a of the of year, the it a continuing is it number. latter

for budget so our numbers next overall this as point can and finalized haven't have numbers at year, our the don't we exact tell. We you

geared deliveries United that to game started The year for really our with these forward. the the of the Next note, heavily going We respects. latter gauge are went next year's get changing many won't in in part are towards next other thing really [Indiscernible] equation

or year on So more this capacity meters next information early the how in finalized we'll have year we've our later when been budget.

could you. I'm liquidity not kind XX then you just a kind talked may, ATL how that the about XX months, all. thinking if strong curious components next cash have on here. provide to especially you're of Thank I are and lot over some color I just if That's here, we've of the [Indiscernible], about but given the And turning flow earnings we around cash flow

Hi, Gerry.

January But us won't driven balance for use as scheduled modest manage every we'll said billion debt as X upstream when to normal, Relatively down to other of year. The the and payment are we to we look on next of opportunities that focus valleys as that debt year. cash I sheet. the would repayment see color gonna Starting X they maturities other to in to to those matters. some earlier start on in year debt kick-in seeing to things always, at kick on in return early idea repayment, return So billion other next about will normal and normal by provide ATL as is the say sort biggest begin as more seasonality peaks payments.

Appreciate Thank you. it.

Evercore ISI. From

Pfennigwerth. Duane Please go have We ahead.

kind kind Thank premium quarter? to the the you context admit last now of domestic corporate business that. you. are on of list, Andrew, levels. talked about a demand rebounding Was I'll XX rate in your and on I exit we relative that extensive to missed comment where

exceeding and What to total see. week, period is I domestic the the great we've XXXX, four, over last for seen was which and the of Atlantic same bookings our said

But, of on feel and few go now really a there go. for Atlantic a costs how which recovering. the ahead fact traffic, over level way see similar the Delta would few you trends but last go to to a the to on just at recovered being numbers comment good see of in as they're obviously to yet. not hopefully slightly going appears things the The in recovery is business bullish just or tell now the of business business and last I Atlantic lot. are recovery We up, fully is number they're that have for in dropping the about heading we variant We But, past and quickly, particular. traffic towards our It traffic just was XX%, long quickly. weeks the the numbers domestic business quickly business about looking down only not that that we're down variant. increased Delta days, have

think that to So it is I we're otherwise definitely volatile than now. upward a bit seeing see, we'd like the more but we volatility right like

longer of seems story a second our like maybe shot prices. this best my helpful. the the more just fuel guess you appreciate your March the and there. be for fully these on I is cadence point? non-fuel at then earliest. speak you expect stage cost to That's And more at the It at follow-up flying restored I thoughts But to dependency is when can cost, here half is

capacity. I Sure. the costs track roll, saw the

and the and of the of versus see aircraft first what the back in. you'll and see talked we second So as the other half the what you'll is coming half January come in about year year triple the

see could $X.X essentially being the the to of initiatives But year the first year. you the we the capacity the on run half full rate second track than half the next As billion hit different [Indiscernible] summer, you'll the significantly of

you. Thank

Sachs, at Goldman go we O'Brien. Catherine ahead. please have From

everyone. has A plans June. view earlier, Jamie's competitive Thanks. will with expansion that current the question different but your re-openings of flat or the changed? change or you that bit your introduce on these Hi. opportunities United and be the domestic the U.S., international just it Next some backdrop XXXX since Was on then back border in is capacity take Good capacity it in all domestic backdrop has back of morning, a demand this

The the we've recovery last and that's open in, what The few international to in latter, things. just done. as we're overseas leads process maximizing weeks life's those seeing border the is opportunity that over the deploy

just maybe entities then, growth color are you to And this you so us maybe able XX% of are you the give it. international rate mentioned are these long and on can the new that to you drive impact not Got Okay. just time. share growth. can yet, but droughts the what going frame high-level much some sure on having XX% Thanks for any

more I Pacific, what said and up given the be obviously, Will earlier. Atlantic

are new we a so are and new bunch to that And for of been Europe in markets we've brand going Airlines. United

of you Africa, U.S. announced not really is about well. are we've those. really We've carrier service the more also Amman to fact, we're fly, with a so In Jordan. excited East Middle But announced which service lot

So pharmacies expect more should of that.

but South America, and well is as as think Pacific there Brazil the the particularly We do given change on days, much has there faster of we really South we're going and, good North really specific slower. there's the across So Pacific, on lot agile which recovery, a in expect than looked carrier load be across bounce really, we're and said, choose we really to recent to going able the demand when back on capacity. extra Pacific or across expect we stronger. and see will careful best being the that Pacific any bounce and cancel we first then we that will to down back the U.S. network of But be have to again, broke

Thanks.

we From Keay. Please Wolfe Hunter ahead. have Research go

morning. Hey, good

are after lot they now from home and euphoria folks office sort like business it kind and of all kind a little because maybe you're expecting So year and travel progresses, went the bit wondering it lower really you a like more wears then, to fair of that working it business the big be travel like excited get recovered is once Labor as back road you're feels with realize a watermark next Scott, and that seems fun. year, of are XXX% commuting a to expecting Day, back to there to pop again, of if not bleed people demand they the sort off? pent-up this back of are on are slowly the like, as in I'm

traveling in and anxious so delays at definitely Delta they depending what I lot when more have on and the we returned. week to we of say they'll the are road back we've Andrew, back generally to variant some a not offices United some so. our are changes, I few business clearly weeks. been people today Willis is it's returning really need they're get talk Towers, the on is what do when our all Well, told, and I'm some the acceleration would excited but back we're the little road more hodgepodge their is office, that last to and and so, a have end to hearing clients, environment. should corporate of know do that been clients an and a And see gladly in And office and look and next in more a are we expect of to we demand, get a with traffic year lot lot that on of

they field That's domestic Atlantic significant, that's also higher the really the and plan. Middle So think way. in including that's years. a is and our to for as a able directory travel think February, India, by we next demand domestically, good after going expect two than now price our going it into East. there's get that true on lot we strong this be to would going is fact, here right Africa, April hopefully like year profit overcome the we question TBD. is recovery. and consumer not But going almost be and strong, it's to the feedback by also We I we strong about feel be We can't March, much other really being our across into to are exactly believe of very maximizing opportunities to

In corporates expect mix a to going expect, weird in you Okay. to going is to shake that know direct relevant. you have there's now. TMCs the do out And going look XXXX? but, GDS travel you of then too how book do is as that like channel 'XX just same long Andrew, XXXX bookings of to term? be to probably lot Are How XXXX? I and right

don't with high-quality the TMC like possibly us GDS all And is DBS major our in our of network model service market. Long know. all what radical contractors like revenues us those term, I there to changes. United greatly deliver really and give helped this our to customers do do those provide and in they changing to CMC in successfully. of we the them Clearly helped all and is customer we'll strong I that on SME Airlines. content those best Technology reach are agencies we and have but can. tell is and great best distribution do we up and we And let But point, we'll partners they agreement really say and any believe rapidly, until what use are and would I don't our do clients GDS would slightly that expect with companies things obviously the different our I would this

Thank you.

From Collin, Becker, please Helane have ahead. we go

thanks for And so for thank the Operator. Hi, much, you everybody much and time.

And on a be is for it Gerry, - Just your XX forecast for forecast in in triple quarter XXXX? Capex going will Capex what's the to seven that is for bring those coming couple back? or -- One are and the questions. your included cost fourth of be to seater back.

ready. an to getting our is sevens, of a bringing them There There's them I've back. not OPEX component mislead. already triple CapEx The component aircraft is

in other was incurring to that forecast any forecast from that that there's assuming contribution not included any in as in so we our costs. And are that's whether parties. included our We're forecast

that's b, letter then Okay, other you that regard I very your (a) concerned fact Little helpful. like that list. to is, markets. be you the cities all are the of hubs own on will is to go their are little with by off this to alliance partners new letter And I these and bucket question flying my can I'd list have to you put do on your give are a that over

bucket the I to would know. not what have shares. carried is why great. traffic many aligns partners. to for partners and periods low are the best but is markets those list, and store United of we your added and let by add Cities very summer partners would US we the great I What to But these about on how got dilution we our city-pairs have really markets aligned between have the are that's me our We And aligned alliances, just ours. other these thought and The with do low. this work you with tell we came

lot and is different thing tell summer. market That to of on you is will be you for the a years. example, very to around places easier difficult to there's But have New in milestone the lot sometimes great Azores very, lot a service i a a you other to to a head for United the make starting that of world. The virtually all That'll reach this was reach your and York vacation. opportunity previous Airlines great colleagues on

a That's great. helpful. day. nice Thanks Have Very everybody.

Bank. [Indiscernible] From

Mike Lesenburg go have (ph). ahead. We Please

holidays, like XX, United of staff sort help through stand on are Thanks. to and making think additional conversations that. I contingency things morning, as vaccine where get data which is latest I Scott, biggest to we risk. the have you there and it that XX% to good only government have as people being the any in Hey, point mandates think about are maybe the you approach people Where everyone. the your with we Hey, of just vaccinated are the back are the kind plans going GSA, pertains that airports to or

hard. Well, like get there. I They've been have to we'll confidence see they, if working

-- did department think revenue from pandemic same tens a I of also thousands really the they back in the bringing the great times. job of Afghanistan. in tough They instrumental during was

just the have credit you get requirements not mean, that I'm and there you're if United, we implementing for you're it you So put the I requirement get you XX% the should everything of don't the thing think correctly. and I washy, we'll TSA Security, and it, doing. and walthall proven compromising, at over wishy I Mayorkas think they'll confident same are not and backtrack. I I that we kudos do do are out there mean, Secretary pretty all give if think there we'll the there. Homeland vaccine they gets Department

that travel. quick of talked talk with Okay. you about and your there's I a back just XX% Scott, to only about Very follow-up. good, lot leisure premium secular something United and rest of of having and or XX% that are the I'm this going with targets there just corporate the then a hitting Thanks. else? think, coming premium catching is industry up just segment on there. is with curious Thoughts passenger everybody seats on par just to

tell materially Mike. announced a from is ago. few when it's months we the mix Next, Andrew. of probably I you United we This not use started although would to really Hey, change little both, aircraft have a

XXXX and So from leisure we amount beyond of premium but hasn't a there in income business. amazing lot been of that an benefit

in being permanent sports higher a the net. it's rebounded cabin able Our is factors load corporate past. out travel in seats done prove first-class we've much because change, more even cabin, to the sell, closer than of completely. little is being anxious inventory the in There for completely. available in that We're but to part and the main this a hasn't UMC [Indiscernible]

So leisure corporate have travel is where XXX% and premium are. we'll see to the yields

material I [Indiscernible] of change given which exciting of see. dizzy. short is any it time. both It think will in again, that this if a this about we outcome proves such period to be we're bullish we're balance pretty would've permanent, to have better

months, to to three that XXX%. over that this aircraft. So with corporate demand see and obvious being event, for levers board come and corporate unlikely not have something when because the the one, on increasingly more an do the last balance But bit different We we said is get little comes it some all as as we have to to a do we'll other in the need wait push sure demand revenue and opportunity back.

Thanks. Great.

From Partners. MKM

(ph). We have Canagan Cona ahead. Please go

for the everyone. time. Thanks Hi,

the move that get on could about hinted level. curious lower fair rather than it dictates you, the domestic that, market sweet you in but the when the your in all prepared just to remarks, is XXXX, capacity but international that capacity think the of demand at on making in landscape, you high an competitive potential adjustment swing thoughts it side assume I the just I given think

lot they have move just around, would need or flexibility a be overseas. clearly around whether wherever to to I factories. move them of aircraft go, to aircraft our or domestically And add could we it

out. [Indiscernible] were So

including flying do need wait flexible and in point-to-point to around they're But needed. not Later both but that we what and less our we're continuously to normal said future. will entire back back the getting internationally look pandemic. year we'll deployment, it the wide-body proved I be throughout why on And is jets and and think be do to we I domestically we again like which we'll see. getting track as have schedule this

follow-up And you. you're however, sectors in what about current maybe sectors then longer-term, thinking demand can side. what actually business gain like you're Okay. you to what that Hunter contact. up just that was share think on seeing you're the curious or bullish or I'm most travel for the a business you on the talking pent most about on Thank just

in as around right all direction. strong get rebounds the everywhere to start obviously is and That we and clear also seeing back make Well, think would of helping we'll said, everything we've but we're they didn't on the done right in they're consulting the road But to share that United very businesses globe. you really and across-the-board, our being all gain seeing now competitors. moving

the you. we take Thank media. from questions And now will

As a a reminder, stand And And have we Instructions]. by. Alison go again, for [Indiscernible] question, [Operator you once have please Sider, ahead. if please

level curious just to the is so schedules: see of and up about of normal in big from if normal course changes months much. I kind of just going sort thanks forward. the more in see I'm is or of several new Hey, when guess and the just out, get back industry you late throughout being some the of in stability this think one of that we air. over the part might last close the instability kind of complaint the everything customers

flexible as as Andrew. What now a needed that basically phrase, few XX% being we bunch to we we weeks run we and how be in be really and would airline with a process. said, to schedules as a process, airline that tell they need and of can XX we we about we this close or to things within we our learned Hi, less, our of I we more to to an or week can took schedules matter as That of load process, this next, you it's so flexible the certainty. into consistency, went customers and to the where we the to load we our book convenient possible. a in normal days so advance XX And early schedule our load need final is days returned have size, this

that way it of but did and in to customers that lower and we costs, unfortunate, But did every and number simple and a was a we react the was make pandemic, reservation. dramatically to to talk the disruption ranked it relative level as to During and we our necessary, two it. about change possible easy net

if already. very the However, rate not in that past, problem should assumed, be in

Thanks.

Leslie we ahead. have a From go Justin. CNBC, Please

any know at name it's is to for question just before you any then same you supply the My the given Do into that federal the your getting be have you, of your everyone. if Thanks. all and changes if fly carriers about morning, for done Good Hi. Total, about to airlines. issues, chain regional also part, going concerns information few weeks, or subject holidays. next the operational under the compliance are good them some how mandate, the about especially Cargo, approach ocean

discussions Hi, Order in carriers, of will them. this on is we're the business and is with they're our say What their we that evaluating the know regional we that Hart. applicability Executive Brett

to it's that clear of stand now. respect through I towards working in with the we pretty think where the they're but vaccinations, process

helping to you something the We will of certainly want add them extent to that be in Andrew, process to process that we the can. do in that?

Yeah.

beyond. obviously a of quarter and terms we've we actually well In expect year, had cargo, into quarter a the fourth record continue that record to

not things if to backup country's that in and airplanes continue where demand. Given traditionally year, in that but in have than to Cargo supports, by terms team, we We're today where second see expect terms transport on are Leslie, ports you numbers, of the on demand these we not the into next of are higher talking sand consumer the our also for all year I the these And products. can there the if again, think next where look to provide are quarter. based which none that just, of at is services and numbers we And cargo. you well every

No. the mandates Okay. airline that vaccine to Thanks. the get you planes. Did same you they ask say have? on uniformity And the regional that's did for games

we the perspective, just I to from do have But the place and in at process them on. the haven't asked recent legal to for will right know carriers on it adopt to require present control. to as through we end we aren't they're At same same encouraging policy. And well. the in our the work day, right is we and do No. way of we you thing and this strongly that they a that have haven't required We are them a are them And focused confident our them, that But very understand we're that we did. good pushing it. to do

please we on have one Bachman. question, do your from phone, Justin ahead. Please you star press if have and a News, go again, Once Bloomberg

rest that you Hi, chose because can it being I that thesis wanted get accused back that of subsidized. question. capacity and structural just wanted that carrier they add idea carriers they the or thoughts and other to seems yields that some on to in to about that, to if US sort some because of see airlines being profitable. more United can't thoughts long-haul get seems makes thanks decent it the past go wide-body on though, these the my how that you. won't capacity to. comment change government if Thank an wide-body add your and for on on could I And get earlier international you've of flag they the front I the your taking wanted to the

takes wide-body configure Hey, long here done and to is years. it There's put United, and And the the -- them is get components. air. that in at really having how Andrew. X aircraft couple fleet. And is Justin. takes X them it a it of This

our But, fro it's seven replacement. grounds, very aircraft used So our to when but leisure to in successfully new international retire already of And fly but It's immediately, that secondly get fact It just just business this Amman, over only and carrier country. have importantly and recent We're represent partner new our business We're the to the with so able Not announcement, largest the including a the cannot the is the a not from US. to that we're them our flying just saw world. reverse Jordan. in all only trained here by happen corporate plays regular advantage decision what major to far. full international you and like more on we acquire hubs, [Indiscernible] front. business hubs travel you just difficult and that through structural

with -- of I large think United aircraft, business the back many, advantage can era properly But demand the we're rapidly, do. we're that just we the have in taking bouncing them haven't And regard back we that of the an in to able simply of competitors doing we and our tailwinds board large captains. advantage so based is and on past many the fact structural so across been as many in now

you. Thank

From Please ahead. we go Ethdoor have Cristina (ph) CNN,

the used and supply new to flying Cargo freighter issues, and flight as you traditional considering purchases any cargo freighter, either still more back or you are Getting chain seeing, demand? you're Cargo aircraft either are All any of

of prep had take through going the the we in supply. our [Indiscernible] We that. planes we were rebound I as or because the as the were stop lack summer planned in all cargo and XXX will of stops traffic

to As the and team well. we a doing they and Cargo did wide-body extremely our demand client number is through of and that lift and small be out end of Cargo the Jacobs variant is phase the we went through fell, Delta year this all to

an next year. that to bring sudden. will this depends to sometime, We likely end, our year, on the service that All again needs of practical late a return early of

lot a job man see record going do we front. of is great team the year. So The to a have doing on and a we're

And for not you is your aircraft, waying term? in just see is or long that something that that being mix you're something that's and considering the

Sure.

this a at makes business or model the where that obviously things individual haven't with on have can time. or take sense, large fleet months in -- second-largest At that just the jets from or aircraft. years have need they the we Cargo. fact the so to a routes. perspective, a about Airlines, freighter supplement any all wide-body valleys point And fleets operated all that just of lot XXX and of with world. aircraft United in We room is wide-body a few for versions those We those seen But we of

a belly capacity meets that have needs. more ton of than our We

ahead. Associated the please Koenig, have David go From we Press

much. Okay, Scott. very thanks

your on Following are emture holidays? to of your some people because wondered earlier, I enough mandate your any caveat of booking the have that to comment struggling rivals if are up guess you United have on I evidence and counting you staff over

if the for answer, I right out I I it I certainty sort think everyone country. has that embark story would to that want be That's don't get will for even done. [Indiscernible] to the Airlines the Well, to I I that's back stop but hope I the get it'd that will answer backtracking everyone vaccinated United like every right to airline and don't to happening, hard also give was want mean, say, happen.

will And for a it because so to right not do. us it advantage the thing competitive is, question without that be

competitive Is it testing some sort of to have alternative for seem to and they disadvantage less settle a vaccination. if

thousands again, they tested going be all operationally, their difficult. unquestionably Tens the right is is Well, again, voice but to I really, hope that do, that track. really get I thing it employees of they will, everybody. to actually,

Okay. Thanks.

have Phing Rached [Indiscernible] (ph), please ahead. From we go

questions. two have I everyone. morning, Good

triple to clarify on your want I comments seven. First,

has clear of half turn per the close service year. a to ground to expect GemStone you that the full-service though you're them said current a that first simple fleet put Is of top next in You XXXX. or the

Hi, this is Brett.

and but We in we to FDA, Whitney first tirelessly from the been [Indiscernible] with to haven't year expect X over we aircraft working return do service Pratt heard the quarter the of [Indiscernible] past safely. months, have the next

and supply on is bottlenecks some question in-place from and these pressers you chain how details navigating about or second My and add chain bottlenecks are on the you to you the to [Indiscernible] supply Can you share color would comments them? your

Hey, it's Gerry.

not seeing shortages from others different we seeing just potential I trying and seeing of we're and are anything So ahead what we're say, to are stay it. where shortages are

does at you costs. as have expensive to on So operation it's just but world that or product, all seeing impacting It's the whole not the the is more impact sometimes supply just it some need. the get

Sampson. Post, have go from Washington Hannah we ahead. And Please

morning. Good

see and playing curious, seat there? demand you play upgrades. been have cash premium dying increased that guess like out online for getting seeing just book of premium more traveling, using those your you're Myles of you that didn't customers when to question are now? the for have kind the I'm the On upfront for I [Indiscernible] are chance How What just book have or upgrades with booking they products. and do free the they out, do

Economy is we've across willingness The seen -- premium We speaking, in will Athens Italy Atlantic. main to leisure pandemic a or a our sure big into great upgrades the and such made you in little cabin this particular and spend a a of play here the range can over it last doing. at products business last down Andrew the this that in in a and better terms all think top our product few Basic over that's are exactly the let or our more United as also, But route, of consumers dollars of A the to across to upgrade oriented bit. that rebound fly make season. to money We've customers have is cabin to the lot months a it's saved did than we're the during we Polaris few people, seen customer the cabin, referred out we what provide thing extra neither first-class we product. of I have let time. in cat summer is from in a what and we'll main for of the a to But scale

there way. their we over of and that. will We absolutely customers allows a that don't are by expect that product that experience. to we more elevated other offer certain that do do time, know And to that of want All range the types

feeling pilots questions to or then agents, the quick, the slip thanks. you Okay wise, flight in real prepared not could you answer and problems. board, another prepared but And phone for if that? How one How are holidays, I the people if care just attendants, have feeling for staffing people across are

good in customers shape. focus And We're United Airlines. confidence, can

you. Thank

closing We remarks. to will back for Kristina Munoz, it now turn

any contact for joining you we talking to the if you Relations everyone [Indiscernible] year please have and Thanks forward call Investor look questions further and today, Media next

Thank you you, ladies and Thank gentlemen. his concludes conference. joining. for today's

now may You disconnect.