00:00Raji, it's cool.
00:01Yeah, excellent.
00:03False.
00:04It's good.
00:09It's a good one.
00:11Thank you, good.
00:22I'm sorry.
00:23I'm sorry.
00:27I'm sorry.
00:40I'm happy to be here because the security has been decided to go again.
00:46We think that we will be able to respond very quickly and if the situation is stable,
00:52we will be able to respond very quickly.
01:24The
01:33Fuel is, let's say, 30% of the cost of travel, but it's the most variable portion.
01:38You double the price of jet fuel, that's the entire margin of the airline and putting it into a loss.
01:44Financially, large carriers, there's a history, we saw this during COVID, of going to governments for money.
01:49And again, that can sort of keep them afloat.
01:51That's not much comfort to shareholders.
01:54What's unusual in this case is it's not simply a financial hit.
01:56It's going to be operationally, if there's a shortage of fuel, which flights from which carriers do cancel.
02:03Ultimately, if there's a shortage, it means, you know, some flights won't take off.
02:07Again, in some individual countries like the U.S. or like China are better off.
02:11But if you're Japan or Korea, you're nervous.
02:13And for Europe in particular, they're highly dependent on Middle Eastern oil.
02:20And we have no indication, as of today, that there is going to be widespread cancellations in the airline sector
02:29in the weeks to come or months to come.
02:32There is no need at this point to intervene in how people live, work, or travel.
02:38Without a return to permanent freedom of navigation, the consequences will be catastrophic.
02:47Not only for Europe, but for the entire world.
02:52We are working on securing an alternative jet fuel supply for Europe, such as type A jet fuel produced in
02:59the United States.
03:00And if real supply issues arise, our emergency stocks must be put to the best of use.
03:10Any national release of fuel must be done in full transparency to avoid market distortions.
03:30What's the purpose of fuel use will be done in full transparency to avoid the universal use?
03:31Any national release of fuel must be done in full transparency-based quantities?
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