Excerpt from BBC

SAS has filed for Chapter 11 protection in the US due to a pilots' strike.

The carrier will be able to keep operating despite the strike.

The industrial action brought forward plans to restructure the airline's finances.

Demand for travel plummeted as a result of the coronaviruses epidemic.

In the past few months airlines and airports have struggled with the rebound in air travel.

The chief operating officer of EasyJet resigned on Monday after a number of flight disruptions.

Several airlines are facing the threat of strike action over the summer as workers push for higher pay, despite some disruption caused by staff shortages.

SAS pilots are on strike over plans to cut their salaries.

Click here to read the whole story.

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Page 2

British families want to get away on an overseas holiday this summer despite the recent disruptions at UK airports. According to new AllClear research, more than seven in ten people want a special or extended break this year as a response to two years of stress and travel restrictions.

The cost of living crisis has changed people's views on the importance of overseas travel. The experience of being stuck indoors made it more important for them to visit places they want to see while they are fit.

18% of people said they would like to bring forward plans for the holiday of a lifetime, rather than letting it be a rainy day dream.

Older people wanted to stop putting off plans. Two years of the Pandemic have made it more important for people to see the places they want to see. People over the age of 65 were willing to pay the most to make their holidays special. This generation said they would be happy to spend an average of over a thousand dollars per person on a holiday. Since AllClear asked the same question a year ago, this figure has gone up.

Chris Rolland said that cost-of-living hikes are a major concern for many and the recent disruptions at airports could undermine fragile confidence in the travel sector. Consumer confidence in the safety of travel has bounced back significantly this year after two years of the Pandemic, and there is a desire to act on this. The vivid memories of being indoors have fostered a desire to live life to the fullest. The travel industry needs to support the bounce-back of the sector in order to help people realise their dreams and the economic context is very challenging. Travelers can travel safely with AllClear helping them cover the insurance risks.

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Page 3

Holland America Line;

During the month of June, Holland America Line reported the highest booking levels for Alaska cruising to the bucket list travel destination since the beginning of the year.

Beth Bodensteiner is senior vice president and chief commercial officer for Holland America Line. Guests are realizing that cruising is a hassle-free way to enjoy unique destinations such as Alaska.

Alaska offers close-to- home departures without the need for overseas air, stunning scenery and wildlife, deep history and culture, and places like Glacier Bay that are best reached from the water.

Seattle, Washington, is the number one summer domestic destination in the U.S. due to the area's bustling cruise industry. During the upcoming July 4 holiday weekend, the number of people traveling by train, bus, and cruise ship is expected to triple compared to 2021. Cruises from Seattle to Alaska are offered by Holland America Line.

The vice president of travel forAAA Washington said people are feeling safe to explore again. In the summer, I like to visit Alaska. Holland America Line helps us provide clients with convenient departures to and from our own back yard without the cost of airfare.

Holland America Line still sees a lot of interest in cruises that are a short flight or drive from guests' homes. More international destinations are served on cruises from a U.S. home port than any other brand. Seattle, San Diego, Boston and Fort Lauderdale are U.S. homeports. Holland America Line has more sailings to Alaska than any other cruise line.

"With the cost and recent challenges with air travel, we are seeing excitement and traction from guests within driving distance of our cruise homeports," said Kacy Cole, vice president of marketing and e-commerce. We recently invested in local marketing near our homeports, and we are already seeing the results.

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Page 4

Spirit Airlines;

The tender offer to purchase all of the outstanding shares of common stock of Spirit Airlines, Inc. has been extended by Sundown Acquisition Corp., a wholly owned subsidiary of JetBlue. The tender offer was set to end on June 30, 2022. The tender offer's terms and conditions have not changed.

The depositary for the tender offer, Computershare Trust Company, N.A., advised Sundown that as of 5:00 p.m., New York City time, on June 29, 2022, over 12 million shares had been validly deposited and not withdrawn from the tender offer.

The tender offer statement has been submitted to the SEC. If you have questions or need additional copies of the tender offer statement, you can call the information agent for the tender offer.

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Page 5


A total of 292 A320 Family aircraft have been ordered by Air China, China Eastern, China Southern, and Shenzhen Airlines. These orders will enter the queue once the criteria are met.

The new orders show that our customers are very confident in us. The performance, quality, fuel efficiency and sustainable nature of the world's leading single aisle aircraft are endorsed by our airline customers in China. We commend the excellent work by George Xu and the entire Airbus China team as well as our customers' teams for having brought to conclusion these long and extensive discussions that have taken place over the course of the last year.

The total number of aircraft in the in-service fleet with Chinese operators was 2,070 by the end of the year.

The A320neo Family includes new generation engines and Sharklets that deliver at least 20 percent fuel and CO 2 savings, as well as a 50 percent noise reduction. The A320neo Family has 18-inch wide seats in the economy class.

The A320neo Family had more than 8000 orders at the end of May. Fifteen million tons of CO 2 have been saved since the entry into service of the A320neo Family aircraft.

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Page 6

The UNWTO hosted a Tourism Ocean Action side event in Lisbon this week. The discussions were held in conjunction with the One Planet sustainable tourism programme and the governments of Portugal andKenya.

As part of its responsible recovery, tourism needs to play a more active role in protecting coastal and marine environments

There is a role for tourism in coastal preservation.

UNWTO Secretary-General Zurab Pololikashvili spoke at the conference. Tourism needs to be more involved in protecting coastal and marine environments. The benefits of shifting to a more circular and resilient tourism model will be felt far beyond the sector itself.

The Minister of Economy and Maritime Affairs of Portugal, H.E. Antonio Costa Silva, is one of the high level representatives. The director of the UNEP's Ecosystem Division took part in the event.

H.E. Antonio said, "As we implement the sustainable tourism action plan, we are promoting changes in consumption behavior, looking at the circularity of materials and at the efficiency in the use of resources."

There are key UNWTO initiatives outlined.

The Glasgow Declaration on Climate Action in Tourism, including its five pathways "measure, decarbonize, regenerate, collaborate and finance" and the Global Tourism Plastic Initiative, which supports the sector's readiness to the upcoming international legally binding agreement to end plastic pollution, were put forward as well.

The Glasgow Declaration on Climate Action in Tourism was signed by the European Travel Commission. The Travel Foundation said that the knowledge of tourism stakeholders should be built. Private sector representatives from the Iberostar Group presented its coastal health strategy and NOAH Regen presented an innovative finance model to protect and regenerate blue carbon ecosystems.

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Page 7

U.S. Travel Association;

According to a new survey, over half of large company executives agree that reducing business travel may represent short-term savings but will bring long-term negative impacts on revenue.

The quarterly business travel tracker was launched in April by the U.S. Travel Association and J.D. Power.

More than two-thirds of executives think their company will spend less on business travel over the next six months compared to the same period in 2019. Half of companies restrict business travel.

Business travel operations should be prioritized by these companies. Companies that restrict or reduce business travel risk negative impacts to their bottom lines and losing a competitive advantage in the coming months, as the Quarterly Business Travel Index predicts that business travel activity will accelerate in the near term.

The Business Travel Index expects an improvement to 84 in Q3 from 81 in the previous quarter. The business conditions leading index, which measures the business environment for travel, rose to 103 for Q3 up from 102 in Q2

The U.S. Travel forecast shows that domestic business travel will experience strong growth in the years to come.

There are challenges on the way that could affect growth. In the coming quarters, companies will make travel decisions in a business environment that is adjusting to increased interest rates and high inflation. Corporate decision-makers are likely to be cautious due to the elevated risks of a recession. Companies may reduce business travel to achieve net zero emissions if they set aggressive goals to reduce their carbon footprint.

Policies to restore business travel are advocated by U.S. Travel. In a recent letter to the U.S. Treasury Secretary, U.S. Travel called for the agency's support on a tax extenders package that includes an extension of full expensing for business meals.

The federal government should call workers back to the office to encourage them to go back to work. U.S. Travel wants the federal government to play an active role in drawing large, international meetings and events to the U.S. These policies are important for U.S. Travel.

Click here to see the executive summary of the surveys.

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Page 8


Air travel is expected to recover in the third quarter.

In the third quarter of the year, July, August and September, global air travel is expected to reach 65% of its pre-pandemic level. The revival is patchy with some parts of the world doing better than others and some types of travel being more popular than urban city visits.

The region of the world that is on course to recover the most quickly is Africa and the Middle East. It is followed by the Americas, where summer arrivals are expected to reach 75%.

City tourism lags in the summer.

The current preference for beach holidays is illustrated by a comparison of the top ten beach and urban destinations in Europe. In the beach list, which is led by Antalya, 81% ahead, Tirana, 36% ahead, and Mikonos, 29% ahead, are showing healthy demand, whereas in the urban list, only Naples is ahead. Naples, Istanbul, flat, Athens, and Lisbon are all gateways to beach resorts.

In the Americas, Q3 bookings for air travel to the Caribbean, Central America and Mexico are 5% ahead of the same time last year, while flight bookings to South America and to the US and Canada are 25% and 31% behind. Costa Rica is expected to perform the most strongly, followed by Jamaica and the Dominican Republic.

Demand isn't affected by the rise in air fares.

Demand for travel has not been affected by a rise in air fares. Between January and May, the average fare from the US to Europe went up by over thirty percent. The fares were more than five times higher than the previous year. The fares for shorter haul, within the Americas, increased substantially, which is less than for long haul. The demand for those tickets went up in March.

American travellers are planning to stay longer and spend more but not as much as they did during the Pandemic, which is good news for the travel industry. The average length of stay in Q3 is up from the previous year. Fewer people with a more affluent profile were travelling last year. The proportion of people flying in premium cabin classes in the third quarter is expected to rise. In the year 2021. it reached 19%.

There are a number of factors that contribute to the relatively promising outlook for summer travel to Africa. The Middle East is benefiting from the revival of intercontinental travel due to the fact that several Middle Eastern airports act as a hub for travel between Asia Pacific and Europe. Hub traffic has increased due to the closing of Russian airspace. Cairo has made it easier to get to European markets. Large diasporas in Europe and the US are returning to visit friends and family in Nigeria and other countries. In terms of attracting long haul visitors from Europe, the countries of flat, Cape Verde, and the Seychelles are all in the lead.

The travel to and within the Asia Pacific region is not recovering as quickly as it could.

Demand for international travel is on the rise once more, marking a departure from the domestic travel trend that dominated in the past. In the third quarter of this year, tourists are more interested in relaxing on the beach than they are in culture, cities, and sightseeing.

The report can be downloaded here. The registration is required.

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Page 9


There has been a steep rise in customer demand and the delayed delivery of aircraft.

The long-haul aircraft, which is popular with customers and crews, is expected to be used again by the airline. The company is trying to figure out how many A380s will be put back in use.

The A380s are parked in Spain and France for long-term so called "deep storage". There are eight A380s in the Lufthansa fleet, six of which have already been sold.

In the summer of 2023, we expect to have a much more reliable air transport system thanks to the reactivation of the A380. We are going to welcome you back on our A380s. The A380 will return to service at Lufthansa in the summer of 2023. More than 60 new Airbus A320/321s and 50 new Boeing A350s will be added to our fleet in the next 3 years.

The world's largest passenger plane is the A380, which can seat 509 passengers and is 73 meters long.

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Page 10

Global Business Travel Association (GBTA);

Business travelers are taking to the roads and the skies again, but are corporate travel programs and policies up to date? Businesses need to be careful about how they implement their travel programs, especially when it comes to their ground transportation.

The first-ever ground transportation report is based on a survey of corporate travel managers in the US and Canada. The Global Business Travel Association, the association representing the pre-pandemic $1.4 trillion global business travel industry, is the subject of the report.

Corporate travel is becoming more popular. Susan Anderson, Global Head of Uber for Business, said that airport rides represented 13% of Mobility Gross Bookings in the first quarter of the year. As more and more companies shift to in-person and hybrid work flows, it's important that businesses rethink their travel programs and policies so that they're tailored to this new era of business Our hope is that this report will give travel managers and others in the business travel space insights and data they need in order to roll out seamless and efficient travel programs that meet the needs of a changing world

When it comes to evolving business travel programs at their companies, travel managers emerge from the Pandemic focused on traveler safety, policy compliance, and sustainable travel practices. In comparison to two years ago, 75% of employers are more focused on traveler safety/well-being, 45% are more focused on sustainable/ social responsibility, and 53% are more focused on travel policy compliance/enforcement.

Business travel and travelers have changed as a result of the Pandemic. The research puts a spotlight on some of the important and thoughtful considerations happening across companies and corporate travel departments when it comes to serving employees traveling for business.

Getting business travelers from one point to another.

Survey respondents identified some of the top strengths of their travel programs, as well as notable areas for improvement.

  • Rideshare and rental cars top the list. Most travel managers say their company’s employees “frequently” use rental cars (82%) and rideshare apps (70%) on work trips, but fewer than half (48%) say employees frequently use taxis.
  • Going premium. Most travel policies at least sometimes allow chauffeured transportation/black car service (74%), premium ridesharing (68%), and premium/luxury rental cars (51%). Roughly one-third say their company’s employees “sometimes” or frequently” use chauffeured transportation (36%) or premium ridesharing (30%).
  • Half of travel programs (49%) currently have a business account with a rideshare platform and one-third (35%) would consider it. The most important features cited by travel managers were reporting (76%), integration with expense platforms (69%), and ability to apply company policies (62%).

Despite the cost, business travel is evolving.

  • Making sustainability a priority. An overwhelming majority (84%) say sustainability is at least somewhat important in the design of their company’s travel program, with 50% saying it is very or extremely important.
  • Of the companies surveyed, 73% are tracking or considering setting up tracking ground transportation sustainability efforts.
  • Even though travel programs prioritize sustainability, not all are willing to incur significant additional cost in order to achieve more sustainable outcomes. Only 6% of respondents say their company currently allows employees to spend more on sustainable travel options, and an additional one-quarter (26%) are considering allowing employees to spend more.

How does travel policy follow work?

  • Business and leisure, better together. Ninety percent of respondents say employees are more (30%) or equally as interested (60%) in bleisure travel – adding vacation days to their work trips – compared to pre-pandemic times. And although 36% say their company’s travel policy expressly allows bleisure trips, 49% their policy does not, but employees are often allowed to take these trips in practice.

Business travelers need to eat, but what are the rules now?

  • Inflation’s impact on meals. Meal prices are rising because of high inflation. While almost one-third of respondents (29%) say their company has raised its spending limit or per diem for meals, a larger number (56%) say these are unchanged from last fiscal or calendar year.
  • Food delivery is here to stay. More than half (55%) of travel managers say their company’s employees at least sometimes use food delivery apps on business trips and 32% expect employees to use them more than they do today.
  • Most travel programs (52%) already have or would consider having a business account with a food delivery platform. Features important to travel managers are integration with expense software (74%), reporting (72%), ability to order group meals (66%), and ability to apply company policies (64%).

202 responses were received from stakeholders in the U.S. and Canada who were involved with managing or procuring travel for their company in the survey. The research report on the GBTA Hub can be downloaded by members.

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Page 11


A colleague sips her coffee while looking at her computer screen. There is a white print against the black background of her mug.

It says that it is silently judging your language.

You laugh because you can empathise. Even the smallest details matter when reaching out to your audience.

Everything you put out in your marketing materials needs to be perfect. Something as basic and easy to overlook as agrammar.

Bad spelling can affect not only your brand's voice, but its reputation as well. You don't want user experience to be affected by stumbling blocks.

You have to make sure you get the proof-read before it goes out. If it's in your native language.

To reach out to customers in different parts of the world, you need to provide more than one language.

The research shows that providing content in the customers own language makes it a lot likelier that they will buy from you as they don't have to do the additional work of using a generic translator.

We all know how embarrassingly wrong it can be if you don't engage the proper translation expertise.

A bad translation is an entire world of meme.

Translation error meme

Punctuation makes a difference.

There is only one thing that bad translations can achieve, and that is a negative impact.

If you are in the travel, tourism and hospitality industry, you need to look into transcreating content into the languages they speak for the ease of your guests, be it in the signs, paperwork, menu or website.

If you think that having bad translated content is better than not having bad translated content at all, think again.

We hope to debunk it by the end of the piece.

Bad translation is bad business.

  1. Poor Translations scream “I don’t give a da*n!”
    If your brand does not bother investing in good translations or local language content, it might look like you don’t care enough about the market. This can be perceived as outright disrespect most cultures, for example the Japanese, who take great pride in their national language. Today’s consumers are savvy and will catch on very quickly if an incoming brand is truly interested in investing in their market through content customisation and customer outreach - or merely out to make a quick buck.
  2. Customer confusion leads to dissatisfaction
    Customer satisfaction is your business’ top priority. When customers become confused, they go elsewhere. All the more so during travel where the stress of communicating in a language in which they may not be familiar in, hence being more prone to misinterpretation, may be higher. You most certainly do not want your business to add to that source of stress. Beat the competition instead and get your stuff transcreated.
  3. Loss of Potential Profit
    To transcreate means to secure profit. As simplistic as that may sound, transcreation isn’t just for the customer’s personal reassurance, it keeps them happy and most importantly, coming back. An upset or offended customer is most likely to leave and will never become repeat customers. Instead, they will take their business elsewhere while you lose money, a lose-lose situation.
  4. Loss of Reputation – Ouch!
    Bad customer experience lead to bad business reputation. This is especially so in the hospitality, tourism and travel industry as every incinerating Yelp! or TripAdvisor review due to a less-than-satisfactory stay at your business is going to hurt – your reputation and inevitably, your bottom-line, that is.
  5. Conflicts could arise
    Bad translation memes are funny; arguments, complaints and conflicts, not so. Which is very much what happens when translations go awry and communication between staff and customers suffer as a result. Your business does not want to be the cause of such unhappy events.
  6. Say hello to the Competition
    Simply put, poor translations help your competition. When customers flee your establishment in disgust due to any of the above, guess where they go? You don’t want to be sending customers away, right into the arms of your competitors, just because you wanted to save on hiring professional translation help.

Transcreation has advantages if you are from the lifestyle and retail sector.

The internet and content.

Businesses are able to reach new customers and clients across the globe as a result of globalization.

The shop window of a modern business is no longer a storefront where one hopes to sell their goods and services.

Better B2B/B2C outreach and countermeasure to increasing rent have been added to sales by the website.

Most customers have their first experience with the brand when they visit the website. It is a great chance to turn casual visitors into loyal customers.

The visitor would be put off and leave if they were already stumbling through the wrong words.

It was a wasted opportunity for customer engagement. A negative impression of the brand is created due to the loss of trust.

Poor translations cause a lot of problems.

The meaning of words varies depending on context. A translator could end up butchering the meaning of the text if they aren't good at it. This is important for character-based languages.

This loss of revenue, not forgetting the time that went into the translation project itself, could result in irreversible damage to your business that could last for a long time.

Transcreation isn't just translation, it's also creation.

A full translation is needed.

Transcreation is needed for precision. If you want to communicate with the world, Transcreation gives you the means to do so.

Some points are worth considering.

  • Know what you want to translate, be it in website content, social media, forms, menus, etc.
  • Determine what global markets your company wants to penetrate the most and the language of choice of your customers for whom your content will be translated
  • Be prepared to put some of your marketing budget aside for not just translation but a good transcreation
  • Leave it to the professionals, as they have not only the knowledge of 2 languages but also figures of speech, slang, neologism and culture.

Are you interested in learning more about our translation services? We'd love to hear from you today.

It's about IPPWORLD.

IPPWORLD is a global transcreation agency that helps travel, hotels, and lifestyle brands, as well as various businesses enhance their engagement strategy in global markets. Multilingual localisation and transcreation solutions are provided by us. Transcreation helps drive conversions, grows revenue, and builds brand loyalty. If you would like to learn how you can better connect with global audiences through transcreation, please send us a mail at creativetranslation@ippworld.com

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Page 12

Boeing Company;

Boeing's annual report includes metrics to measure progress on core enterprise priorities, as well as defining the company's sustainable goals. This also includes sustainable operations, innovation and clean technologies, and community engagement.

The company's sustainable vision for the future of flight and environmental, social and governance efforts are highlighted in the report.

"We are honored to release our second report that builds on Boeing's family of reports already released this year and shares how our collective ESG efforts are contributing to our business and world," said Chiefsustainability officer Chris Raymond. The report is an important step in demonstrating our ambition to communicate transparent with all of our stakeholders and in holding ourselves accountable as we protect, connect and explore our world.

Boeing's environmental, social and governance achievements are detailed in the report.

There is environmental stewardship.

  • Committed to delivering commercial airplanes capable of flying on 100% sustainable fuels by 2030.
  • Supported the commercial aviation industry's commitment to achieve net-zero carbon emissions for global civil aviation operations by 2050.
  • Joined NASA and DARPA to successfully test a fully composite, linerless cryogenic fuel tank with capacity to hold 16,000 gallons of liquid hydrogen.
  • Established multiple partnerships to help advance the renewable energy transition with partners including SkyNRG, Alaska Airlines, Etihad Airways, NASA, Rolls-Royce, and United Airlines. We also joined the First Movers Coalition and continue to make progress through our joint venture, Wisk.
  • Maintained net-zero carbon emissions from manufacturing and facilities again in 2021 by expanding conservation and renewable electricity use while sourcing carefully selected carbon offsets for remaining emissions.

There is social progress.

  • Increased representation of women and racial/ethnic minorities and saw exit rates for women, men and teammates of all races within 1 point of each other, both improvements compared to 2020.
  • Enhanced workplace safety using automation and robotics, reduced employee exposure to high hazards and reduced serious injuries by 27% in 2021.
  • Spent greater than $4 billion with small and diverse suppliers and invested more than $187 million to help build better communities worldwide. Introduced Seek, Speak and Listen habits to create an inclusive culture, strengthen our global team and drive stronger business outcomes.
  • Speak Up reporting channel enabled people to openly report safety, quality or compliance concerns, knowing their voice will be heard and appropriate action will be taken.

There is transparent governance.

  • Amended Governance & Public Policy Committee of the Board of Directors to include oversight of sustainability.
  • Established the independent Chief Aerospace Safety Office to align critical safety functions under one organization.
  • Incorporated product safety, employee safety and quality metrics into our primary annual incentive structures.

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Page 13

Heathrow Airport;

The final proposals for the H7 price control period were published this morning. There is a proposal that will be responded to by Heathrow. The final decision on the H7 price control will be made later this year after the feedback is considered by theCAA.

John Holland- Kaye is the chief executive officer of Heathrow.

As the industry rebuilds, our focus is to work alongside airlines and their ground handler to give passengers a reliable and consistent journey through the airport. The level of investment and operating costs it takes to deliver a good passenger service is underestimated by theCAA. Passengers will get a worse experience at Heathrow as the investment in service dries up.

Private investment in Britain's infrastructure should not be hampered by economic regulation. The proposal will undermine the delivery of key improvements for passengers and raise serious questions about Britain's attractiveness to private investors.

We will give a further evidence-based response to the consultation and take time to assess the proposal. There is still time for theCAA to come up with a plan that puts passengers first and encourages everyone in the industry to work together to serve the travelling public.

The airport's profits are capped in the good times and losses are unlimited in the bad times. Since 2012 unregulated airlines have been able to make extra money by using capacity constraints at the airport.

There is a regulatory period from January to December. The interim H7 charge was put in place by the CAA. The consumer prices index will fall by 5.74% in each subsequent year through to December 2026, and the charge will remain the same at $32.19. A final decision will be made in the autumn.

The plan would invest a further £4 billion in the service passengers want without increasing ticket prices. Airlines set their fares to what the market will pay, and they have already increased fares by up to 100%.

The passenger charge would be smoothened by the use of regulatory depreciation and investor returns being delayed to the next regulatory period. The construction of Terminal 5 was accomplished using this approach.

Prices at airports are going up in the wake of the swine flu. While airlines often point to more limited price increases at continental airports, they fail to mention that these airports received billions of pounds in state aid during COVID.

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Page 14

Spirit Airlines;

Frontier Airlines, Inc.'s parent company, ULCC, commented on the most recent revised offer from JetBlue Airways Corp.

Ted Christie, President and CEO of Spirit, said, "The latest offer from JetBlue does nothing to address our Board's serious concerns that a combination with them would not get regulatory approval." That unsolved issue, along with the fact that their offer is still substantially below the potential $50 per share or more of value that we expect will result from a merger with Frontier, affirm our analysis that our merger agreement with Frontier provides more value and certainty to our stockholders.

Christie said, "While we have engaged with them for weeks and provided them a level playing field on which they could make their best offer, unfortunately they have now turned to scurrilous rhetoric instead of a substantive improvement in their offer." We are focused on proceeding with our agreement with Frontier, and we appreciate the continued support of Glass Lewis and the feedback from many stockholders who intend to vote in support of the transaction.

The offer is still below the potential $50 per share or more that could result from a merger with Frontier and does not offer much more economics than previous proposals. After 18 months, the ticking fee has no effect on the economy. Since the vast majority of the reverse termination fee would be paid out in October 2022, and thus is a sunk cost at the time real decisions have to be made in respect of regulatory approvals, there is little economic incentive for JetBlue to do what it takes to complete the deal.

If the Northeast Alliance with American Airlines remains in effect, there is almost no chance of approval for the offer.

  • JetBlue has refused multiple requests to abandon its de facto merger with American even though the Department of Justice (“DOJ”) has sued to block the alliance on grounds that it is anticompetitive.
  • Contrary to what JetBlue wants you to believe, the NEA substantially increases the risk profile of a JetBlue transaction, as it would further consolidate an already highly concentrated industry, giving the entangled JetBlue and American partnership even more market power.
  • JetBlue has already stated it would raise fares and reduce capacity, exactly what the antitrust laws were designed to prevent.

The regulatory challenges of the proposal are recognized by independent third parties.

JetBlue won't win. The winner will be Ted Christie. I think that the head of antitrust gave a speech when he came in, saying that he does not favor and will not let any deal where you need divestiture to get it done. Jim Cramer co-anchors the show "Squawk on the Street" on CNBC.

Jet Blue is making a mistake. Jim Cramer, co-anchor of CNBC's "Squawk on the Street" said, "They keep doing this, and they are going to lose because Jonathan Kanter who is head of antitrust has said point blank, 'You can't do what they're doing.'

"This offer is a headscratcher from JetBlue, especially with this administration and in this regulatory environment..." I think their regulatory advisors are aware of the risks. Maybe they are attempting to disrupt the deal. There are some reasons to think that going after Spirit in this way could help them in their defense as they are currently litigating the DOJ over their Northeast Alliance.

There is no shot in hell, I want to take it off my screen, and other comments from people I spoke to this morning. The co-anchor of CNBC's "Squawk on the Street" said that nobody in the investment community thinks that this will ever happen.

The market is in favor of the company walking away from the deal. The Frontier offer doesn't have the same regulatory risk as the stock offer, and it's mostly stock. The ultra low-cost carrier isn't taking on additional debt to pay for the deal, making the offer superior to those shareholders.

John Samuelson is the President of the Transport Workers Union.

Scott McCartney is a former Senior Writers and Middle Seat columnist at the Wall Street Journal.

According to Kerry Tan, an associate professor of economics at Loyola University, it makes sense for Spirit and Frontier to have more of a chance getting DOJ approval.

It's important that you vote.

The Special Meeting of Stockholders will be held on Thursday, June 30, 2022, at 9:00 a.m. The stockholders of record as of the close of business on May 6, 2022, are entitled to vote.

The merger is recommended by the board of directors. Proxy votes can be changed if you have already voted. To find out more about how to vote for the merger, please call the Company's proxy solicitor, Okapi Partners, on their toll-free number or email info@okapipartners.com.

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Page 15


Silk Way West Airlines has an agreement to buy two A350F. This is the first order from the region. The most efficient and sustainable cargo aircraft are available in the market.

The first agreement we signed with Airbus marks the beginning of a very fruitful partnership as we strive for future growth. Silk Way West Airlines had a defining moment today. The acquisition of these new aircraft will be a success. This is a new milestone in the growth of our company. The president of Silk Way West Airlines said that the agreement will strengthen the company's leading position in the global air freight market.

Silk Way West Air lines are new to me. The A350F is a game-changing tool for cargo operations. The economics and environmental signature of the A350s will stand out compared to older generation aircraft.

The world's most modern long range leader is the A350. There will be a large main deck cargo door on the aircraft. The advantage of 20% lower fuel burn and CO2 emissions is due to the fact that 70% of the airframe is made of advanced materials. The A350F is the only new generation freighter aircraft that is ready on time for the enhanced CO2 emissions of the International Civil Aviation Organization.

Thirty one orders and commitments from six customers have been recorded by the A350F.

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Page 16


How can more precise tracking of in-flight services lead to more sustainable air travel?

Automatic capture of data for passengers' onboard meal consumption, along with tracing the amount of unused food and drinks that remain, is one of the innovative digital solutions offered by Airbus. With the integration of such information in an artificial intelligence-driven system, airlines could potentially reduce their CO2 emissions by double-digits through weight reductions and fuel savings.

Elements of this solution have undergone initial evaluations in realistic conditions aboard the Airspace Explorer, a dedicated cross- programme flight test platform that is used to test and demonstrate new innovations for future aircraft cabins.

The volume of cabin waste is going to double.

An estimated 1.43 kilograms of cabin waste is generated by each passenger per flight of which more than 20% is represented by untouched food and drinks. The situation becomes more critical with the prediction that airline cabin waste is going to double by the year 2030. This is the source of the IATA survey.

The Food Scanner is an artificial intelligence-enabled device that analyses the composition of food in a simple point-and-shoot process. The principle that it uses is the same as that used in supermarkets.

The cabin attendant pulls the meal tray out of the trolley and takes pictures of what is left when the tray is returned. The beverage bottles and cans that are placed atop the trolly are tracked by a barcode scanning device.

Data from the Food Scanner's use isOptimised.

Airbus food scanner dashboard

Data from the Food Scanner can be processed via a separate, off-board cloud-hosted dashboard that uses trends and statistics to enable highly accurate Catering Planning and the prediction of food/beverage consumption. A pre-flight meal ordering system is already being used by a growing number of airlines.

There are many advantages to the solution. The amount of food and beverages that are thrown away upon arrival would be limited.

Artificial intelligence is being introduced into the food scanning process.

The first feedback from airlines was positive. It is important to demonstrate the Food Scanner in a realistic environment with end-to-end connections. In-service trials, followed by eventual production, would be possible with the help of potential partners.

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Page 17


Insight into flight load factors can be used to help negotiate with airlines. The data combined with information on flight searches can help identify unserved routes.

The responsibility of route negotiation is held by destination marketing organizations. Ensuring that a destination is well served by international and domestic air corridors is important in order to maximize its potential and sustain healthy levels of tourism.

Strong arguments that draw on accurate information are required in any negotiation. In discussions with airlines, the same applies.

Knowledge of the route's performance is important. An airline may have reasons for wanting to stop operating an air corridor, but if the DMO can show that the route is still in good shape, the airline may be willing to keep operating it. Insight into the performance of competing routes can be useful at the negotiation table.

Maintaining existing routes is not as important as opening new ones. In discussions to establish new air corridors, the DMO gains a significant competitive advantage if it can show the unserved demand for air travel from a particular location.

Load factors are low.

As an air travel intelligence specialist, forwardKeys gives unparalleled insight into not only global travellers but also the overall seat capacity offered by 99% of commercial airlines worldwide. Load Factors are created by combining the information of Total Air Market for the overview of travellers and Capacity for scheduled seat capacity.

Load Factors show the average share of seats occupied by passengers in relation to the number of seats on a route. The DMO is well positioned to negotiate its continued operation with the relevant airline if the route is in good health.

To maintain a strong negotiating position with the airline and to re-energize interest from the point of origin, work must be done in terms of strategic marketing.

Competition and capacity.

The Load Factors data smart is one of the main features of the Connectivity module. A near-real-time overview of capacity by flight origin and operating airline, as well as in terms of the total number of seats on scheduled flights to the destination can be found on the website.

The Dmo can use this information to encourage airlines to operate more frequent flights. If an airline has a high number of seats and a large proportion of them are filled, the DMO is in a good position to convince other airlines to increase their offerings.

To identify routes that are better served by an airline but not performing as well as their own is information that could convince the airline to increase capacity to their destination.

Unserved and indirect routes are identified.

The ability to identify new route opportunities based on demand that is not currently fulfilled by existing air corridors is one of the most significant competitive advantages that air connection data can provide. There is a forthcoming data smart from ForwardKeys.

Unserved Routes compares searches from a point of origin to a destination with the same route. Should an airline begin operating flights on that corridor, it would prove successful if an unserved route is generating a lot of search interest. When search interest is high, the implication is that the route would benefit from more frequent flights.

There is a feature in the works that will allow destination managers to view entire trip itineraries to see if new air corridors are needed to serve popular indirect routes. If there is high demand for travel from Valencia to New York via Madrid, a direct corridor from Valencia to New York is likely to perform well. This way of connecting has the added benefit of reducing emissions, which could make it easier for the DMO to negotiate new routes.

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Page 18

Aer Lingus;

CDB Aviation, a wholly owned Irish subsidiary of the China Development Bank, will lease two A320neo aircraft to Aer Lingus. The first A320neo variant was introduced by the airline.

The all-economy aircraft will be delivered to Aer Lingus in July of 2022.

CDB Aviation's Chief Marketing Officer commented, "We are very pleased to be joining our new European customer, Aer Lingus, on their flight path towards a carbon neutral future through the financing of their inaugural A320neos." Aer Lingus will benefit from these latest generation aircraft.

IAG is the first airline group in the world to commit to achieving net zero carbon emissions by the year 2050. The group wants to reduce CO 2 per passenger by 10% by 2025.

"This is a great opportunity to bring new, state-of-the-art aircraft into our short-haul fleet." The renewal of our fleet is a priority for Aer Lingus over the next few years.

The new generation A320neo aircraft is more sustainable in terms of fuel burn and CO2 emissions and this is important to Aer Lingus as well as to our customers. The new A320neos will help us to reduce costs because the more eco-friendly aircraft incur lower landing charges.

Patrick Hannigan, CDB Aviation's Chief Executive Officer, said, "Our teams worked hand in hand to expediently execute this transaction as an important part of the Irish flag carrier's recovery plan from the impact of the Pandemic on air travel." The A320neo will further strengthen Aer Lingus' leading position among European airlines in enhancing connections with a focus on improving efficiency and reducing aviation's environmental footprint.

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Page 19

Canada Jetlines;

Canada Jetlines operations The new, all-Canadian, leisure airline announced that it has successfully completed the flight attendant group line indoctrination flight. To the satisfaction of the criteria, both events were conducted.

The events are important in the process of getting the Transport Canada Air Operator certificate. The CEO of Canada Jetlines is proud of the work done by the flight attendants. We are close to the end of the process. Transport Canada administrative functions will be finished in the final steps. The process is expected to be finished in the first half of July and we will be able to fly shortly thereafter.

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Page 20

The first firm contract for Embraer's P2F comes after an agreement announced in May with Nordic Aviation Capital for up to 10 conversion slots for E190F/E195F. The current E-Jets fleet will be used to convert the aircraft. This is the first firm contract for the P2F and the second one. There was an agreement in principle to take up to 10 conversion slots for the E190F.

The E-Jets P2F conversions are segment leading. The E-Jets freighters will have over 50% more volume capacity, three times the range of large cargo turboprops, and up to 30% lower operating costs.

P2F customers benefit from a well-established, mature, global services network, as well as a comprehensive portfolio of products ready to support their operations from day one.

The conversion to freighter will include the main deck cargo door, cargo handling system, floor reinforcement, Rigid Cargo Barrier, and air management system.

The maximum structural weight for the E190F and E195F is 13,150 kilogram and 14,300 kilogram respectively. The net weights and volumes of the E190F and E195F are impressive, considering typical e- commerce cargo density.

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Page 21


The International Air Transport Association expressed shock at the announcement by the government of the Netherlands that it will cut the number of annual flights to 440,000.

The decision is a blow to the economy of the Netherlands. On top of that, there is a tripling of the passenger tax. Willie Walsh, IATA's Director General, said that air connection has been built up for 100 years and supports large parts of the Dutch economy.

Facts don't support the justification for the cut. According to the government, the cuts will reduce noise and emissions. The redistributed noise paths that are part of the initiative will increase the number of people exposed to aircraft noise.

Aviation supported more than 300,000 jobs and 22 billion in GDP in the Netherlands before the swine flu epidemic. The economic contribution was made possible by the global hub airport role. Amsterdam was the third best connected city in Europe in 2019.

The impact of the aviation shut down in the Pandemic was terrible for the Netherlands and its economy. Downsizing the airport will destroy jobs. Businesses in the Netherlands will have to evaluate their future in an economy that will be moving from a global gateway to a regional center without the ability to grow at Schiphol.

Since the end of the Pandemic Restrictions, Schiphol has recovered quickly. The airport is on track to reach its half a million movement limit. The Dutch government set out a path for Schiphol to grow to 540,000 movements. The announcement of a cut to 440,000 movements equates to a 20% cut to the airport's potential.

The industry has set a goal to reach net-zero CO2 by the year 2050. Huge investment in sustainable aviation fuels and cleaner, quieter aircraft is required to deliver this goal. Suppliers are encouraged to increase production by KLM. If carriers are operating in a regulatory environment, they can maximize their investments. Changes to the rules of the game by governments are counter-productive to investment in a more sustainable industry and do not create any environmental gain when passengers are willing to travel to other airports.

The world is moving again after two years of restriction. The airport is a strategic hub for the Netherlands and has been struggling to cope with demand. The decision to cut the airport off at its knees will cause a lot of harm to the economy. Walsh said that the government should reverse course and set out a path for the sustainable growth of aviation in the Netherlands, focusing on delivering sustainable aviation fuels and helping the industry meet its commitment to achieve net-zero CO2 by 2050.

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Page 22

Bureau of Transportation Statistics;

There are flight operations.

Changes to airline schedules and operations were made in April. A total of 566,893 flights were operated in the month of April. The number of flights operated in April was up from the previous year, but down from the previous month.

More than half a million scheduled domestic flights were reported by the 10 marketing network carriers. In the month of April, the airlines reported 473,962 scheduled domestic flights, 2,561 of which were canceled. 9,108 flights were canceled in the month of March. There were 668,259 domestic flights scheduled in the month of April.

April 2022, on-time arrival.

The on-time arrival rate for the year to date is 76.3%.

The ATCR table shows the highest marketing carrier on-time arrival rates.

  1. Delta Air Lines Network – 81.9%
  2. United Airlines Network – 80.9%
  3. Hawaiian Airlines – 80.8%

The lowest marketing carrier on-time arrival rates.

  1. JetBlue Airways – 53.3%
  2. Frontier Airlines – 58.4%
  3. Spirit Airlines – 58.5%

There will be flight cancelations in April.

Marketing carriers canceled 2.3% of their scheduled domestic flights in April, higher than the rate of 1.5% in March, and lower than the rate of 2.4% in April 2019.

The lowest marketing carrier rates of canceled flights are in the table.

  1. Delta Air Lines Network – 1.1%  
  2. Hawaiian Airlines – 1.4%   
  3. American Airlines Network – 1.6%    

The table shows the highest marketing carrier rates of canceled flights.

  1. Spirit Airlines – 10.3%    
  2. JetBlue Airways – 9.0%    
  3. Alaska Airlines Network – 3.8%    

There are complaints about airline service.

The DOT received 5,079 complaints about airline service from consumers in April, up 14.8% from the 4,423 complaints received in March and up 321.5% from the 1,206 complaints received in April of last year.

3,173 (62%) were against U.S. carriers, 1,409 (27%) were against foreign air carriers, and 499 (9.8%) were against travel companies.

Over 5,000 complaints were received in the month of April. The Office of Aviation Consumer Protection keeps in touch with airlines and travel companies that receive refunds to make sure they comply with the requirements. The required refunds have been given to many passengers. The Department will take enforcement action against non compliant airlines.

The flight problems category was the second highest. More than one third of the 5,079 complaints received were related to cancellation, delays, or other deviations from airlines' schedules. The Office of Aviation Consumer Protection contacts airlines when their flights are canceled or delayed to remind them of their obligation to give refunds to passengers who don't accept the alternative. Airlines are required to have and adhere to a customer service plan that identifies the services that the airline provides to mitigate the effects of flight disruptions on passengers. The Department reviews complaints against airlines to make sure they don't violate consumers' rights.

There are delays in the tarmac.

There were 33 tarmac delays of more than three hours on domestic flights in April, compared to seven in March. There were one tarmac delay of more than four hours on international flights in April, compared to zero tarmac delays in March.

Airlines are required to have assurances that they will not allow aircraft to remain on the tarmac for more than three hours for domestic flights and four hours for international flights, subject to exceptions related to safety, security, and Air Traffic Control related reasons. If the airline returns the aircraft to a suitable disembarkation point by those times, there is an exception.

tarmac delays are investigated by the department

The baggage was mishandled.

In April 2022, marketing carriers handled 40.0 million bags and had a mishandled baggage rate of 0.55%, a lower rate than the previous March and April rates.

The mishandled baggage rate was calculated by the Department based on the number of mishandled bags. The mishandled baggage data is now displayed as a percentage. The mishandled wheelchairs and scooters rate is calculated and displayed in a similar way.

Wheelchairs and scooters are mishandled.

The rate of mishandled wheelchairs and scooters was higher in April than it was in March and it was also higher than the rate in April of last year.

There are bumps and over sales.

Unlike other air carrier data, bumping/over sales data is reported quarterly.

There have been incidents involving animals.

In April 2022, carriers reported one incident involving the death, injury, or loss of an animal while traveling by air, up from the zero reports filed in March of that year. There was a death of an animal.

There are complaints about the treatment of disabled passengers.

In April 2022, the Department received a total of 162 disability-related complaints, more than double the number of complaints received in March and April 2019.

There are complaints about discrimination.

The Department received eight complaints about discrimination in April of 2022. There were 19 complaints in March, but only five in April.

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Page 23

U.S. Travel Association;

The next chapter of the U.S. Travel Association will be led by a proven leader who has a track record of delivering game-changing results for varied industries. He rejoined the U.S. Travel Association after almost a decade of association leadership, first as president and CEO of the American Gaming Association and then as the president and CEO of the Consumer Brands Association. On September 1, he will join U.S. travel.

Over the past two decades, the approach to association leadership has been built around industry unity and change. In his previous role at U.S. Travel, he helped lead to the establishment of the Travel Promotion Act of 2009. Establishing the Meetings Mean Business Coalition was one of the achievements.

During his time as CEO of the American Gaming Association, he led an industry-wide campaign to legalized sports betting. He galvanized industry support behind a transformation strategy, which included defining a new brand identity, growing membership, strengthening the organization's leadership team and re-establishing the association as a Washington, D.C. powerhouse.

The leader of the organization is stepping down after 17 years.

Christine Duffy is the national chair of the U.S. Travel Association. For his strategic work to conceive campaigns and programs that opened new pathways for growth in the travel economy, he is well-known across our industry. The mission of U.S. Travel will be advanced in its next era with the return of the association's leader.

The industry has held a special place for me and I am eager to get to work on it. The travel industry is more important to the nation's economy, more connected to consumers and more important to bringing Americans together than any other industry. I believe U.S. Travel can continue to raise the bar and I am excited to start.

I am proud and honored to take over from Roger Dow, who has been a great leader and mentor to me. I would like to extend my thanks to Roger for all he has done.

He graduated from the University of California, Berkeley.

The search for the association's next president and CEO was led by a nine-member Search Committee representative of core segments of the travel industry.

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Page 24


The development of hydrogen infrastructure at airports is being worked on by the two companies.

A cooperation agreement signed in Singapore in February covers collaboration on global supply chains for hydrogen, from production to airport storage, and the integration of refuelling into normal ground handling operations. There will be pilot projects at several airports from early in the 20th century. Power-to-liquid fuels, a type of sustainable aviation fuel made from the synthetically produced liquid hydrocarbon through the conversion of renewable electricity, will be studied by the two companies.

Hydrogen is an important technology pathway to bring a zero-emission commercial aircraft to market by 2035. It's just as important to build the infrastructure. "We are working closely with partners like Linde, who have decades of experience and expertise worldwide in the storage and distribution of hydrogen."

Philippe Peccard, Vice President Clean Energy, said, "We are pleased to expand our successful collaboration withEADS to a global scope." We are well positioned to work with airports and government authorities to develop viable concepts for sustainable airport hubs based on hydrogen.

The use of hydrogen to power future aircraft is expected to reduce emissions in the air and help decarbonise air transport on the ground. TheHydrogen Hub at Airports was launched in 2020 to research infrastructure requirements and low-carbon airport operations. Agreements have been signed in France, Italy, South Korea, Japan and Singapore.

The ZEROe concept aircraft were unveiled in 2020 and the corresponding technology bricks are being developed in a global R&T network.

Visit here to learn more about hydrogen and decarbonisation.

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World Tourism Organization UNWTO;

More than 130 young people from 60 countries will be in Italy next week to attend the first UNWTO Global Youth Tourism Summit.

The event is the first of its kind and was hosted in Italy by the UNWTO and the Ministry of Tourism. It will bring together global youth between the ages of 12 and 18 with leaders from across the sector, including politicians and key figures from the worlds of sport, gastronomy, entertainment and innovation. The President of the Republic of Italy gave the Summit a medal and patronage.

Zurab Pololikashvili is the Secretary-General of the UNWTO. It will help build a lasting legacy by giving young people the skills and knowledge they need to transform tourism.

The Summit will feature a simulation of the UNWTO General Assembly and interactive sessions where participants will be able to engage directly with UN and with Ministers of Tourism.

It will help build a lasting legacy by giving young people the skills and knowledge they need to transform tourism not only in their communities but all over the world.

The first World Youth Tourism Congress is being hosted by the Italian government. We are confident that ideas and proposals will emerge that can advise governments on how to improve the global tourism offer.

The UNWTO Director for Europe said that tourism gave opportunities to young people. Young people give tourism the chance to grow. The first generation of gyTS-ers are already showing their promise and commitment to transform tourism, starting from their local communities.

The synergy that can be created in the exchange among the under-19 generation and organizations on a level playing field cannot be anything but good for tourism. The young people we will be meeting are more excited than us.

Rural development and gastronomy are related.

The Summit will focus on some of the key challenges and opportunities facing global tourism, with an emphasis on the sector's role in achieving the UN 2030 Agenda and its 17 sustainable development goals. This will include an in-depth look at the world's flora and fauna. Taking an excursion to the Marine Protected Area of Punta Campanella will show participants how tourism is helping protect coastal areas. An overview of the important role of the cruise industry for local and national economies will be provided by the MSC Foundation.

The Summit will feature a special session focused on online security, as well as a talk on virtual tourism and the Metaverse, as part of UNWTO's broader focus on innovation and the digital transformation of tourism. The debate on reducing food waste in tourism will be hosted by the World Food Forum.

The UN Youth Envoy and UNWTO Ambassadors of Responsible Tourism are expected to speak at the GYTS. Mastercard and theHilton Group are sponsors of the event. The President of the United Nations General Assembly, Fernando Hierro, the Director-General of the UNWTO, and His Holiness Pope Francis are some of the people who will speak. Pansy Ho, UNWTO Ambassador andentrepreneur, will join virtually to discuss why innovation is a key part of the sustainable future of tourism.

The young people are promising something.

In the build-up to the UNWTO's permanent platform for youth and tourism, the participating youth were prepared through webinars that allowed them to explore, together with global experts, the principles of sustainable tourism and globalism.

The UNWTO thanks the many sponsors and partners who make the event possible.

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Page 26

U.S. Travel Association;

After the United States repealed its Covid-19 testing requirement for inbound air travelers, the U.S. Travel Association released a full biannual forecast for travel for the next six years. This will lead to slower growth in the later years of the forecast. At the association's IPW trade show, the international part of the forecast was released.

If not for the Pandemic, the amount of money spent on travel in the U.S. would have been higher, but it's still 10% below current levels. The table is adjusted for inflation through the year.

U.S. Travel Forecast

Based on analysis from Tourism Economics, the domestic business travel volume will reach 81% of pre-pandemic levels in 2022, and 98% in the following year. Domestic business travel spending won't fully recover to pre-pandemic levels when adjusted for inflation

U.S. Travel wants federal policies to help the business travel sector recover. In a recent letter to the U.S. Treasury Secretary, U.S. Travel called for the agency's support on a tax extenders package that includes an extension of full expensing for business meals. These policies are important for U.S. Travel.

Domestic leisure travel will continue to drive the U.S. travel industry's recovery in the near term.

The repeal of the inbound pre-departure testing requirement has helped international inbound travel recover. The sector is expected to grow rapidly through the rest of the year, but then grow at a slower pace in the years to come. A full recovery to pre-pandemic levels won't happen until at least 2025.

Policy changes can help speed up that timetable. If the U.S. reduces wait times for visitor visa interviews to less than 30 days, there will be more international visitors to the U.S. The U.S. Travel has a number of policy proposals.

  • Develop a pilot program for the use of videoconferencing technology in visa interviews with low risk, returning visa applicants and visa applicants with urgent or time sensitive travel.
  • Prioritize visa processing resources to the embassies and consulates that have high demand.
  • Temporarily extend all visitor visas for a year or waive visa interview requirements for applicants seeking a valid renewal particularly for those presently in the U.S.
  • Consider allowing certain low-risk visa holders currently in the U.S. to renew their visa while staying in the U.S.
  • Develop new ways to make the visa process more efficient for medium-to-large group travelers.
  • Delay and reconsider the proposed non-immigrant visa fee increase.

The biannual forecast from U.S. Travel is expected to be revised in fall 2022.

Click here to view the full forecast

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