Conor Cunningham

can you just give us some updated thoughts on a subscription model or a loyalty program?

on the remaining 15%, does your pricing algorithms immediately kick in?

Carnival is less willing to discount to fill. So I mean, I know you've talked about maximizing revenue.

why is that the right level?

come 2027, does it actually start to bend down again?

I'm just hoping you could maybe drill down on that a little bit and talk about what's actually improving there.

how many people actually have the card? What percentage of you know, marketing revenue do you of your overall revenue you get from the marketing component from the credit card?

Could you just you know, give a number on Celebration Key, what that headwind is?

if things were to weaken, what cost levers do you think you have right now that could be low-hanging fruit if things were to deteriorate on some level?

Could you just talk a little bit about how that strategy is playing out right now? It seems like it's working

In the past, you've seen oil spike, fares follow, and then oil kind of normalize and then fares kind of follow that. But it seems like it's a bit different as we start to look towards '27

I was hoping you could just level-set a little bit to how you view the year. Clearly, demand is where you think it is. Is it just like where jet fuel settles to see where you can start to potential...

if you could just talk about your expectations for Transatlantic and Asia and so on, that would be super helpful

hoping you could just talk about your priorities as you take on the new role. You've obviously helped mold the Delta network for a long time, but just curious how you approach things with the comme...

it seems like you're driving additional share gains or maybe you could just talk about how the overall market is expanding in general and how you're continuing to drive share within it

should we look at the gap in just the terms of the growth overall as a good benchmark for the differences in overall contribution?

does the slowdown change your view just on the long-term industry structure? Just trying to understand how your conviction level has changed

how the weakness you're seeing in the price-sensitive U.S. domestic market, it doesn't eventually bleed over to International and Premium

there's an argument to be made that there's an even better supply story on the international side. You know, wide bodies are hard to come by

shouldn't we expect a somewhat strong sequential acceleration into the spring? Just trying to understand if, like, your actual core results are even stronger

Can you just talk about any impact that you've seen on bundling at all? Maybe any comments around demand elasticity

is it fair to assume that second quarter does have some sort of lingering impact on the bookings figure

I am curious on how that has progressed into 2026. Obviously, there is this debate around hotels going more direct with large language models and so on.

I was just hoping that you could level set on where things are in terms of your B2C business?

is that a potential goal that we could get back to at some point? And then if I could just ask another one within that, is the booking curve now starting

can you just talk about your international rollout, how that performed during the quarter relative to your core?

Can you just talk about how that's looking right now. Are you seeing hesitation further out in the curve

Could you just talk about the the the tact changes that you're making there and just you know, if that's aiding in in just, like, underlying growth

I was hoping you could give some perspective on historical how, like, demand has trended after a sustained elevated

talk a little bit about the healthcare and small and medium-sized business markets and then just talk about the opportunity set that you have from here

Can you just talk about the margin contribution of those? Are they coming in as you would expect

So I'm just curious if you could kind of unpack that a little bit. I would imagine that within that low single-digit number that you talked about for twenty-five

why is it a dangerous game to assume some sort of fuel recapture throughout the remainder of the year

Just on the load factor decline in 3Q -- sorry, in 4Q and then it just was larger than the decline in 3Q. Can you just help frame up what's happening there

I was hoping you could talk about the decline in the ATL. I realize that there's a revised credit, Chase agreement in there

I was hoping you could frame up the sequential improvement that you're seeing into the fourth quarter versus what you were messaging in September

Do you need to see things in the current initiative set before you can launch new ones?

from a travel type, what has actually advanced the most? It seems like it's business transient

is it a is it a change revenue recognition, or is there an increased cash you know, conversion rate as well?

Can you talk about the benefits of being between Amex and Chase? Is there anything that that's helpful having 2 partners rather than one?

Is it on the level of like a co-branded credit card contribution at full maturation? And maybe you could just talk about how you view it

if you could just talk about how things have trended, maybe into ’26, where you’re seeing – are you seeing any hesitation there at all?

are there any areas in which you think you want to strengthen during a potential downturn? Just where are the priorities within that list?

can you just talk about ADRs versus occupancy. Obviously, you saw a nice cadence in the fourth quarter

it seems like you're going to be down with that at year end. Can you just talk about how that's going to be implemented

Just curious on when that will actually be

it seems like the mix headwind becomes a tailwind when Great Stirrup Cay comes online

can you just talk about the close-in opportunity in terms of just from a revenue management perspective

there may be some changes in inventory management. Can you just talk a little bit about that

Just maybe a comment around the close-in booking strength. I was just hoping you could talk about your skewed itineraries that are moving more towards three to four days versus, you know, seven plus

if close-in demand were to stay here, would that suggest that like the ultimate -- like that you would see significant upside to your underlying earnings upside in 2026

is there anything embedded in the fourth quarter from Celebrity Xcel, Star? Does anything linear from Star of the Seas there

a big gap, I think, is on the co- branded credit card program and then maybe the loyalty program optimization in general

nine-in-10 people that you surveyed cite the relative value of cruising in general

it seems like there's an opportunity with a younger cohort rather than an older one

can you just give a little a bit of the shape of how the year progresses? Does it just follow capacity

In a world where fuel remains elevated for a long period of time, just curious on how that changes your management style of a hub or just like your general view on profitability to the overall system

as you run your scenarios, like can you just talk a little bit about like how you expect premium, maybe the business traveler to change?

if you could just talk about how things change throughout 1Q. I just think that you're going to be exiting at a much higher booking rate in March than you are right now

if you could just talk about how that segment potentially flips to the positive and are you assuming any sort of like rate of change

Can you just talk about the opportunity beyond the 7 hubs in general?

what is the driver behind doubling in terms of a new rate and versus what you're going to do behind the scenes to make the loyalty program more valuable?

I'm just trying to understand how you're managing basic economy versus other products out there from a couple of months ago

I was just curious on how you view your thesis now and what may have changed since the start of the year or really what you've learned

can you just talk about how you can, you know, continue to move down the path of eliminating spill traffic in general

it basically implies that you're gonna be doing better on a year-over-year perspective versus 2024. So I'm just trying to understand what's driving that improving

I'm just trying to understand on your conviction level around the up-gauging strategy. Do you have a lot of that baked into 2025

Can you just talk about how you are going to deploy Basic Economy? Is there an evolution in how that changes

I was hoping you could talk about how that may trend into 2026. Like are we expecting that to continue to ramp up?

you did 74 in the first half. I was hoping that you could level set on what you expect to do in the second half