PitchSend

West Coast Market Relevance and Revenue Initiatives

As we complete the integration, we are slowing our investment in growth to focus on pre-tax margin improvement Capital Spending Plan 2019-2020 Margin Drivers ASM Growth $1.0B ~$1.0B ~$750M -$750M • Network & schedule refinements Merger synergies Saver Fare roll-out Ancillary revenue changes Labor productivity improvements 2017 2018 F 2019F 2020F • Overhead cost control ~7% -6% ~2% ~4% Slower near-term growth will enable us to realize synergies, optimize our operation, and implement revenue initiatives 34

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