Charles Brennan

“I'm struggling to understand the full dynamics of what's going on here. You're attributing a lot of the weakness, I guess, to underutilization in France, but France was relatively weak last year and you managed to manage the margin.”

“Firstly, just on the booking side, I think Sabre reported 6% bookings growth in the quarter. We don't often see you undergrowing Sabre as a competitor.”