Premium Travel Is Driving Demand, United Airlines CEO Says

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00:00It's really tremendous to see not only what you did, but also the fact that you see significant

00:05upside to the fourth quarter. And I want to just start there. Where do you see the acceleration

00:09in demand? You know, actually, you look across the full year, the first three quarters were

00:14really good for United in a lot of macro volatility that happened for the aviation industry. That

00:20demonstrates the resilience of our revenue diverse brand loyal business model. But you look to the

00:24fourth quarter, it's even more exciting because as the economy started to get back to a solid footing,

00:29at least for aviation, demonstrates a lot of upside. We think we're going to be able to grow

00:33earnings for the full year, even in this environment. So it really is creating value for all of our

00:38customers, all the way from basic economy to winning much higher market share in the brand loyal

00:42customers really is a great resilient strategy when times are difficult, but a lot of upside as

00:48the economy recovers here in 4Q. I guess I want to drill into the economy because, Scott, earlier in

00:55the year had been the economy section that had struggled the most. I'm just wondering how much

01:01it's picking up, whether you've had to discount tickets to bring people in to compete or whether

01:05consumers are willing to absorb higher prices and just take their trips.

01:11Yeah. Well, as we've talked about before, Lisa, the airline industries are a pretty good real-time

01:15indicator of the economy. And, you know, we saw for much of the first half of the year

01:20economic stress, and ticket prices were lower as a result of that. But as we got into the third

01:26quarter, bookings, at least for future travel, the economy started to pick up, bookings started

01:30to pick up. And as we finished the quarter, you know, we've set records each of the last several

01:35weeks on most corporate revenue that we've ever booked in a single week, and a number of records,

01:40particularly in business travel, really kind of strong across the board, though.

01:44Internationals come back stronger. The period has extended. Premium is obviously stronger

01:49than main cabin. But really, we've seen improvement, you know, as we've moved through

01:54the third quarter, kind of across the board on revenue streams, but the biggest strength

01:58in the corporate segment.