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NOTE recognizability 0.903

NOTE language en-us

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Michael O'Leary of Ryan Air was saying, look, the West really needs

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to start drilling more. They need to have more oil production come

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online very quickly because that's the best way to do it. Obviously

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that would help him, but his point was this would be the best way to

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hurt Russia too. That Russia benefits when oil prices are this high.

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That's exactly right, and we know we could produce more oil in this

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country and in other countries. In the West, there's obviously real

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pressures from the from the environmental side of things who say it's

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not good to do that, so it's tough. There are probably some people on

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the political spectrum who like it when fuel prices are high and

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fewer people are traveling. That's not necessarily good for the

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economy. However, you know, there are also companies.

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Like Sabre for example, which does the reservations and ticketing for

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Aeroflot? Are they gonna continue to do that? If they don't, Aeroflot

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would pretty much have to stop operations within Russia. That would

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be another way to hit them. There are also aircraft lessors, some

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based in the US who have airplanes least to Russian commercial and

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cargo airlines, so they have to determine what are they going to do

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with that equipment.

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Yeah well, good luck to saying forget it, we want it back. At this

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point you just might not get that. That's right. There are concerns

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that Americans will not want to travel to Europe this summer. Maybe

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they'd been thinking about finally getting back to Europe. Maybe that

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doesn't take place. I just wonder, is that beneficial to any of the

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airlines that operate mostly in the United States? Because if

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Americans want to travel, they're going to go somewhere.

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Well, it would be absolutely the most of the lower cost airlines in

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the US fly either exclusively within the US or they fly South and

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into the Caribbean as opposed to Europe. I'm worried about that

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apprehension of customers Becky that you mentioned. You're right,

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anyone going to Europe this summer has to think about what happens if

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this war expands. Am I going to be safe there? And I'm sure it's

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changing that the carriers that do fly to Europe? The American

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United's didn't deltas in the US.

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They have been looking forward to what was expecting to be a very

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bullish summer, including transatlantic travel, and now putting a

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crimp on that. Because of this war is going to be harmful to them,

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but it is going to help the domestic and Caribbean South America

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carriers. This invasion started just one week ago today has that

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already played out in terms of reservations, people canceling making

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changes to, well, you know, plans. You know, markets hate

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uncertainty, right? Becky, and so we're seeing fuel prices go up.

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Even though there's not a shortage right now, but there's fears that

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it might end in the same mode you see passengers who are either

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canceling European trips and what we don't see are people who were

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planning to book and have already decided we're not going to do that.

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'cause you never saw the booking in the 1st place, so it's just the

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uncertainty. And are you going to plan your family vacation, whether

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to Italy or to Poland, for example, or?

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Turkey or a place like that when you aren't sure if you're

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gonna be able to take it. You're just gonna say I'm not, I'm

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just gonna go elsewhere. And so a lot of those cancellations

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we won't even see him in cancellations of bookings because the

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bookings haven't happened yet.