Continued Strong EBITDAR Margins

We Have a Sustainable Business Model • Sustainable business model and investments are delivering as planned • Record financial results from Global Champion strategy • Improved financial targets • ASM growth rate steadily declines as wide-body fleet expansion comes to an end • Unit cost benefits from narrow-body fleet replacement programs. • Incremental benefits from extended capacity purchase agreement with Jazz post-2020 · Significant value from launch of the loyalty program in June 2020 71

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