WEBVTT - Webjet Group wants it all 0:00:03.680 --> 0:00:06.040 Welcome to Shared Lunch, brought to you by chairs Eas 0:00:06.280 --> 0:00:08.680 at Chareza's are on a mission to create financial empowerment 0:00:08.720 --> 0:00:12.000 for everyone. I'm Sonya Williams, Coco and co founder at 0:00:12.039 --> 0:00:14.920 chairs EA's, and today we are diving into the business 0:00:14.920 --> 0:00:18.880 of travel. Talking to CEO of Webjet Group, Katrina Barry. 0:00:18.600 --> 0:00:22.239 Travel as a percentage of discretionary spend is that its 0:00:22.360 --> 0:00:25.279 highest ever percentage of all time. 0:00:25.400 --> 0:00:28.120 To talk about the future of Webjet and the future. 0:00:27.760 --> 0:00:31.280 Of travel, Generation Y, Generation Z they will plan and 0:00:31.360 --> 0:00:34.360 tire trips off TikTok. I think we use AI very well. 0:00:34.440 --> 0:00:36.440 As you say, do you build it, buy it or 0:00:36.440 --> 0:00:38.800 borrow it? Now it's built it by borrow. 0:00:38.560 --> 0:00:39.159 Or bot it. 0:00:39.440 --> 0:00:42.000 Webjet has also been in the spotlight lately following its 0:00:42.040 --> 0:00:45.960 recent takeover. Bit Before we get started, there's important information 0:00:46.040 --> 0:00:47.040 you should always consider. 0:00:47.520 --> 0:00:50.120 Investing involves the risk you might lose the money you 0:00:50.159 --> 0:00:53.440 start with. We recommend talking to a licensed financial advisor. 0:00:54.160 --> 0:00:58.000 We also recommend reading product disclosure documents before deciding to invest. 0:00:58.240 --> 0:01:00.640 Everything you're about to see and hear is current at 0:01:00.640 --> 0:01:01.360 the time of recording. 0:01:01.400 --> 0:01:03.840 We'd like to acknowledge the gadagaul people of the or 0:01:03.960 --> 0:01:07.080 nation where we're recording from today and pay respects to 0:01:07.160 --> 0:01:11.880 elders past and present. Welcome Katrina, Hello son, You're lovely 0:01:11.920 --> 0:01:13.839 to be here, Lovely to have you back. 0:01:14.120 --> 0:01:15.400 Yeah, I know, it's been a while. 0:01:15.480 --> 0:01:18.720 I know, And so we spoke last September and was 0:01:18.840 --> 0:01:22.560 just going through the d merger. What's been happening since then? 0:01:23.160 --> 0:01:25.640 Oh, well, I haven't been bored, let me tell you that. 0:01:26.360 --> 0:01:29.759 So on the first of October we got the final 0:01:30.040 --> 0:01:33.360 sign through of the merger and I guess what we've 0:01:33.360 --> 0:01:35.240 been up to as a team since then is we 0:01:35.360 --> 0:01:38.880 decided to take a big, hard, honest, clear. 0:01:38.720 --> 0:01:40.039 Eyed look at ourselves. 0:01:40.080 --> 0:01:43.080 So we did a big strategy piece working through I 0:01:43.080 --> 0:01:45.440 guess where is everything going and travel with everything going 0:01:45.440 --> 0:01:48.760 in tech agentic AI, where is it all leading us to? 0:01:49.600 --> 0:01:52.440 So that included a lot of numerical stuff but also 0:01:52.680 --> 0:01:55.440 really exciting brand research and coming off the back of that, 0:01:55.600 --> 0:01:58.040 we've laid out our plan now. So now we have 0:01:58.160 --> 0:02:01.840 a very clear and robust strategy to double our ttv 0:02:02.480 --> 0:02:04.559 SO from one point six to three point two billion 0:02:05.280 --> 0:02:06.440 over the next five years. 0:02:06.560 --> 0:02:08.200 And last time we talked about I mean, you're from 0:02:08.240 --> 0:02:12.720 an amazing retail background. We talked about the brand maybe 0:02:12.720 --> 0:02:16.560 getting a bit of a glow up. How's that eventuated? 0:02:16.800 --> 0:02:18.400 So look is going really well. So we did the 0:02:18.400 --> 0:02:19.040 brand research. 0:02:19.040 --> 0:02:21.959 We spoke about three and a half thousand Strands and 0:02:22.040 --> 0:02:24.520 Kiwis and you know, wanted to get their take on 0:02:24.560 --> 0:02:27.640 the entire travel landscape from not just our brand, but 0:02:27.800 --> 0:02:31.240 all of our competitive brands. And we looked into and 0:02:31.560 --> 0:02:34.160 you know, really went deep on the data and their 0:02:34.200 --> 0:02:36.920 preferences in their thinking on each of those three and 0:02:36.919 --> 0:02:40.960 a half thousand customers their last three transaction. So that's 0:02:41.000 --> 0:02:44.079 a big body of data and understanding of the industry. 0:02:44.800 --> 0:02:47.160 So we took that the keiso what's from us? 0:02:47.600 --> 0:02:48.079 For us? 0:02:48.120 --> 0:02:51.480 From that was seventy three percent of strands and Keywi's 0:02:51.560 --> 0:02:56.200 no and love and trust Webjet. So I think that 0:02:56.400 --> 0:02:59.040 was our hypothesis, but it's great to have that confirmed. 0:03:00.280 --> 0:03:02.359 And they said to us, you know, key insights such 0:03:02.360 --> 0:03:05.040 as you know what I know you guys for flights. 0:03:05.840 --> 0:03:08.000 I didn't realize you did other stuff, but it'd be 0:03:08.080 --> 0:03:10.760 great if I could do all of my travel planning 0:03:10.840 --> 0:03:13.600 with you. So that's led to a corporal of our 0:03:13.639 --> 0:03:16.639 strategy in terms of us really starting to re emphasize 0:03:17.440 --> 0:03:23.000 our solutions around hotels, around stays, around tours and packages, 0:03:23.040 --> 0:03:25.800 et cetera that we're now sort of leaning into. So 0:03:25.880 --> 0:03:28.880 it was really a deep piece of work. Off the 0:03:28.919 --> 0:03:31.960 back of that, it's also informed the aesthetic, so the 0:03:32.000 --> 0:03:35.320 look and the feel and how that translates into user experience. 0:03:35.720 --> 0:03:38.600 So the glow ups coming along very nicely and we're 0:03:38.640 --> 0:03:41.880 really looking forward to launching that to the Aussie and 0:03:41.920 --> 0:03:44.440 Keywi public and the second half of this year. 0:03:44.720 --> 0:03:47.480 Any kind of hints at what that might be taking 0:03:47.520 --> 0:03:50.360 shape into or the Zene the secrets. 0:03:49.920 --> 0:03:52.000 The thing that came back to us really strongly was 0:03:52.040 --> 0:03:56.040 this is the brand that Astraans and New Zealanders resonate 0:03:56.080 --> 0:03:58.480 with and they trust it. And what we don't want 0:03:58.520 --> 0:04:03.400 to change that, don't want to revolutionize it. 0:04:03.400 --> 0:04:04.480 It's about evolution. 0:04:05.000 --> 0:04:06.560 So I think the key thing is just spanking it 0:04:06.720 --> 0:04:09.720 really fresh, contemporary and irrelevant and that's what you'll see. 0:04:10.200 --> 0:04:14.280 Yeah, and you've also had some interesting stuff happen that 0:04:14.360 --> 0:04:17.559 has been in the headlines with BGH Capital recently trying 0:04:17.560 --> 0:04:20.520 to make a takeover bid. What can you tell us 0:04:20.560 --> 0:04:20.960 about this? 0:04:21.960 --> 0:04:24.920 Sure, Well, there's not much I can I can share 0:04:24.960 --> 0:04:26.760 with you, To be honest, you know, with subject to 0:04:26.760 --> 0:04:30.640 Act disclosures on this, but what I can tell you is, 0:04:30.720 --> 0:04:31.080 you know. 0:04:31.400 --> 0:04:36.719 I think this is not unexpected in my view. 0:04:36.720 --> 0:04:39.440 I think people are waking up to what ourselves at 0:04:39.440 --> 0:04:41.760 Webjet and our board have known for a long time, 0:04:42.200 --> 0:04:46.359 which is this this stock w j L is training 0:04:46.360 --> 0:04:49.680 at a significant discount to its potential and to the 0:04:49.720 --> 0:04:53.960 fact that it prints off a very very strong IBIDA 0:04:54.080 --> 0:04:57.520 every year. We just closed out our annual results and. 0:04:57.440 --> 0:04:58.640 We delivered. 0:05:00.360 --> 0:05:02.560 EBITDA for the whole group of thirty nine point four 0:05:02.560 --> 0:05:06.080 million dollars with no debt and a very strong balance 0:05:06.120 --> 0:05:08.480 shed one hundred and eighteen million dollars. So I think 0:05:08.520 --> 0:05:11.440 people are looking at that. They see a consistent business 0:05:11.839 --> 0:05:15.400 that you know, princes of Ebida every year, that is 0:05:15.440 --> 0:05:19.039 the leader in online travel space. And I think they're 0:05:19.080 --> 0:05:21.960 going to see what we think, which is a significant 0:05:21.960 --> 0:05:25.320 potential in this business and we're only just getting started. 0:05:26.240 --> 0:05:29.760 The point of the merger was to allow the former 0:05:29.920 --> 0:05:33.000 Webjet Limited business to split into a B to B 0:05:33.120 --> 0:05:37.040 division and a B two C division, and the objective 0:05:37.080 --> 0:05:39.440 of that was to allow both businesses to focus on 0:05:39.480 --> 0:05:43.040 their unique customers and challenges. And this is a business 0:05:43.200 --> 0:05:47.040 that you only have to believe in two things if 0:05:47.080 --> 0:05:49.919 you think it's it's got the right to win. The 0:05:49.960 --> 0:05:52.520 first one is do you think people are going to 0:05:52.520 --> 0:05:56.520 continue to travel? I think there's an obvious answer to that. 0:05:56.520 --> 0:06:00.320 For Austraands in New Zealanders, we are intrepid folk and 0:06:00.440 --> 0:06:02.800 we're always going to go and see the world. And 0:06:02.839 --> 0:06:05.599 the next piece you need to believe is do you 0:06:05.680 --> 0:06:09.640 believe that every retail category is going to continue to 0:06:09.680 --> 0:06:12.839 go online and that tech and AI is going to 0:06:12.920 --> 0:06:17.440 enable that. You know, for me, I'm being focused most 0:06:17.480 --> 0:06:19.960 of my career on e commerce, so I believe that's 0:06:20.000 --> 0:06:24.240 a strong yes to that. We're significantly underpenetrated for the 0:06:24.279 --> 0:06:27.800 sale of travel online in Australia New Zealand than we 0:06:27.839 --> 0:06:30.960 are overseas, so there's a nice little tail in there. 0:06:30.800 --> 0:06:32.680 That we've got in built growth to go. 0:06:33.279 --> 0:06:36.240 So I think what the market is doing is realizing 0:06:37.040 --> 0:06:41.240 business with significant potential. The fundamentals are there in terms 0:06:41.240 --> 0:06:46.440 of this is a well known brand, strong awareness, strong trust. 0:06:46.960 --> 0:06:51.360 This category, like most retail categories, is going to continue 0:06:51.360 --> 0:06:53.480 to grow online. So it's got a very nice set 0:06:53.480 --> 0:06:55.320 of sundamentals and I think that's why we're getting a 0:06:55.320 --> 0:06:55.839 bit of attention. 0:06:56.279 --> 0:06:59.560 And speaking of that attention, Hello World, which aren't they 0:06:59.560 --> 0:07:03.520 competed of yours have bought a steak and Webjet group. 0:07:04.040 --> 0:07:07.279 You know, the travel industry is famous for understanding travel 0:07:07.680 --> 0:07:12.200 and value amongst its peer group, and Hello World is 0:07:12.440 --> 0:07:14.280 you know one of our competitors. There are bricks and 0:07:14.360 --> 0:07:19.000 mortar or a storefront form of distributing travel. We're an 0:07:19.000 --> 0:07:23.760 online one, so I'm sure they see us as a competitor, 0:07:24.240 --> 0:07:27.560 but I also think, like most businesses, we may be 0:07:27.600 --> 0:07:28.600 an interesting investment. 0:07:28.800 --> 0:07:31.920 So you're competing with travel agents. Why would someone choose 0:07:31.920 --> 0:07:33.360 webjet over a travel agent? 0:07:34.280 --> 0:07:37.320 Well, webjet is a travel agent. We're just an online 0:07:37.360 --> 0:07:41.000 travel agent. And I think where people are going to 0:07:41.760 --> 0:07:46.240 is why would I drive for twelve kilometers and then 0:07:46.360 --> 0:07:49.040 find a park, and then wander through the moor to 0:07:49.080 --> 0:07:52.840 find that store, and then the queue whilst there's no 0:07:52.840 --> 0:07:55.640 one available, and then wait for a twenty two year 0:07:55.680 --> 0:07:57.560 old to give my life savings for for this big 0:07:57.560 --> 0:07:58.400 trip that I want to do. 0:07:59.640 --> 0:08:01.040 I don't see. 0:08:00.880 --> 0:08:03.320 Why anyone should be doing that, Like we should all 0:08:03.320 --> 0:08:05.720 be able to do this beautifully online in our track 0:08:05.760 --> 0:08:08.680 your decks, sitting on our couch and curate that and 0:08:08.760 --> 0:08:12.280 all be delivered to you automatically within five minutes rather 0:08:12.280 --> 0:08:13.280 than sitting there waiting. 0:08:13.120 --> 0:08:14.440 For two hours for it to be curated. 0:08:14.880 --> 0:08:15.840 So the way that. 0:08:15.800 --> 0:08:18.320 Technology is going, in the way that AI is being 0:08:18.400 --> 0:08:20.760 used within that, it's just going to be the most 0:08:20.800 --> 0:08:23.480 easiest thing to do it with your thumbs sitting on 0:08:23.720 --> 0:08:24.280 your couch. 0:08:25.200 --> 0:08:27.120 So let's chat about travel. It was one of the 0:08:27.120 --> 0:08:31.440 beliefs that people are going to continue to travel. How 0:08:31.480 --> 0:08:32.839 are you saying that at the moment. What are the 0:08:32.880 --> 0:08:33.920 trends happening in travel? 0:08:34.440 --> 0:08:37.200 So it's proven to be very resilient even in this 0:08:37.360 --> 0:08:41.960 environment where there's such a strong cost of living crisis 0:08:41.960 --> 0:08:45.520 that's continuing amongst you know, both Australia and New Zealand 0:08:45.520 --> 0:08:49.319 in terms of their domestic economies, and the macroeconomy certainly 0:08:49.400 --> 0:08:52.040 isn't helping. I think the entire market is seeing a 0:08:52.120 --> 0:08:55.440 bit of softening around retail and travels. You know, we're 0:08:55.440 --> 0:08:59.200 not immune, and I think that's really starting to come 0:08:59.280 --> 0:09:01.360 through since January this year. 0:09:01.960 --> 0:09:04.000 But what I like, what. 0:09:03.920 --> 0:09:06.840 I can you know, what amazes me and when I 0:09:06.880 --> 0:09:09.520 think about is when you look at the ABS stats 0:09:10.160 --> 0:09:13.680 in terms of another people returning from outbound if you will, 0:09:14.760 --> 0:09:18.160 or international trips. You know, that figure is still really 0:09:18.200 --> 0:09:21.800 really strong. It might be softening a bit, but travel 0:09:22.080 --> 0:09:25.360 as a percentage of discretionary spend is that its highest 0:09:25.440 --> 0:09:29.640 ever percentage of all time. So you know, that's a 0:09:29.679 --> 0:09:32.400 fascinating thing if you think about it, given we're in 0:09:32.400 --> 0:09:35.520 a cost of living crisis. That says to me, culturally, 0:09:36.000 --> 0:09:37.920 it's one of those shifts that's come out of COVID. 0:09:38.600 --> 0:09:40.760 You know the old saying, you know, if it you 0:09:40.760 --> 0:09:43.080 always want some what you can't have. I think that's 0:09:43.080 --> 0:09:46.320 how people are thinking about travel now. These are experiences, 0:09:46.400 --> 0:09:49.280 This is joy and they got taken away from you 0:09:50.080 --> 0:09:52.360 and so people want to really really hold on too that, 0:09:53.280 --> 0:09:55.200 you know, same as I think working from home is. 0:09:55.360 --> 0:09:56.920 You know, it's an end built change. Now it's a 0:09:56.920 --> 0:09:59.360 cultural change that was seeing come out of COVID. I 0:09:59.360 --> 0:10:03.480 think prioriti travel and travel experiences is a similar long 0:10:03.559 --> 0:10:04.400 term change. 0:10:04.960 --> 0:10:08.480 How do you see I guess social tourism, how does 0:10:08.520 --> 0:10:11.240 that impact with jet and travel and how do you 0:10:12.320 --> 0:10:14.000 how do you leverage that or do you leverage that? 0:10:14.120 --> 0:10:18.320 I think different generations get their inspiration, you know what 0:10:18.360 --> 0:10:21.400 I call content from different sort of places and Generation 0:10:21.679 --> 0:10:25.880 Y and Generation Z you know who. They will plan 0:10:26.080 --> 0:10:29.560 entire trips off TikTok. They will they will plan their weather, 0:10:29.720 --> 0:10:33.760 going their hotels and obviously the food most important. Uh 0:10:33.960 --> 0:10:37.120 you know, they'll plan all of that off TikTok. So 0:10:37.559 --> 0:10:39.840 I think, you know, social commerce, if. 0:10:39.720 --> 0:10:42.280 You will, is here to stay. 0:10:42.320 --> 0:10:44.400 You know, it's really quite interesting our customers go across 0:10:44.400 --> 0:10:47.920 all the generations. When I imaginally originally moved into the 0:10:48.000 --> 0:10:50.280 role about a year ago, I was like, Oh, surely 0:10:50.320 --> 0:10:53.920 it's more mature. We're quite even across all the age demographics. 0:10:54.800 --> 0:10:57.000 But like every business, you need to be continuing to 0:10:57.120 --> 0:11:01.200 grow that that those younger generations. So I see our 0:11:01.280 --> 0:11:06.880 role as connecting with content providers social media and different 0:11:06.920 --> 0:11:09.480 ways to you know, to interact with our customers across 0:11:09.480 --> 0:11:13.800 social media, and that's our role, be there when they're 0:11:13.840 --> 0:11:14.720 ready to execute. 0:11:15.280 --> 0:11:17.439 Do you use influences as part of your strategy? 0:11:17.920 --> 0:11:20.600 No, we haven't really, and it's again it's another area 0:11:20.600 --> 0:11:23.640 that I think we will be investigating more and more 0:11:23.640 --> 0:11:28.120 in the future. We've been highly transactional and I think 0:11:28.160 --> 0:11:30.559 we need to move to be more relational, and that's 0:11:30.600 --> 0:11:33.040 what our brand research told us. People know and they 0:11:33.040 --> 0:11:35.520 love and they trust web jets. So whilst we're an 0:11:35.559 --> 0:11:38.840 online business and everything we do is transacting online, we 0:11:38.920 --> 0:11:42.360 have twenty four seven servicing, We have that that that 0:11:42.480 --> 0:11:45.839 voice or you know, email chat, whatever you want to 0:11:45.880 --> 0:11:48.680 do at the end of at the end of the 0:11:48.679 --> 0:11:52.960 line when you get into trouble. And that's so much 0:11:53.000 --> 0:11:55.800 better than something that's faceless and. 0:11:55.720 --> 0:11:59.839 That you don't know or you know, somebody who's booked 0:11:59.840 --> 0:12:00.800 it for you that you can't. 0:12:00.600 --> 0:12:03.400 Get hold of because they've got weekends, you know, online 0:12:03.480 --> 0:12:04.520 we don't have weekends. 0:12:04.559 --> 0:12:05.599 We're always online. 0:12:06.120 --> 0:12:09.839 How about competition, So globally you've got Booking dot Com, Expedia. 0:12:10.400 --> 0:12:14.040 How does WE'BJE stand out from the global competition. 0:12:14.600 --> 0:12:14.800 Yeah? 0:12:14.840 --> 0:12:19.800 Sure, So with the global competition, most of the big behemoths, 0:12:20.120 --> 0:12:22.360 so Booking dot Com and Expedia et cetera, they will 0:12:22.400 --> 0:12:25.920 start out at hotel sites and they're doing very much 0:12:25.920 --> 0:12:28.400 for our sturategy is too, which is selling across the 0:12:28.440 --> 0:12:32.800 cell you know, the whole travel funnel now, so and 0:12:32.840 --> 0:12:34.600 that is very much what we're we're trying to do 0:12:34.640 --> 0:12:37.240 as well. The only difference is I don't have over 0:12:37.240 --> 0:12:41.240 five billion dollars marketing budget and Tina fey, although I 0:12:41.280 --> 0:12:43.760 would like to consider myself hilarious and maybe I'll step 0:12:43.800 --> 0:12:46.280 into our own ad, but I don't think the marketing 0:12:46.320 --> 0:12:48.720 partner is going to let that happen. But we're not 0:12:48.760 --> 0:12:50.920 trying to be Booking dot Com or Expedia. We're not 0:12:50.920 --> 0:12:54.000 trying to be a big global business. We are homegrown, 0:12:54.559 --> 0:12:59.920 twenty seven nearly years young, and we are preferred for 0:13:01.320 --> 0:13:03.880 a large section Australian as Ylanders who want to be 0:13:03.920 --> 0:13:07.080 able to transact their travel all in one spot and 0:13:07.200 --> 0:13:09.960 know that they've got Osie your Ki business at the 0:13:10.000 --> 0:13:13.280 backup of that, you know, with servicing in our time 0:13:13.400 --> 0:13:17.640 zone twenty four to seven. So I think that's you 0:13:17.640 --> 0:13:21.560 know where we want to play. That said, though allegedly 0:13:21.640 --> 0:13:24.839 there is a Tina Faith who lives in Adelaide. If 0:13:24.880 --> 0:13:27.920 you're listening, please contact me because we can't afford the 0:13:28.000 --> 0:13:29.720 other one, but we might be able to afford you. 0:13:30.720 --> 0:13:33.199 Last time, I think we talked about revenge travel, which 0:13:33.240 --> 0:13:36.160 is you know what you were talking about before, when 0:13:36.160 --> 0:13:37.640 you're told you can't do something and then you want 0:13:37.679 --> 0:13:39.680 to go and do it. So we thought we'd better 0:13:39.679 --> 0:13:43.840 come with a new term, pleasure. Have you heard of pleasure? Pleasure. 0:13:44.040 --> 0:13:46.160 You know what I've heard about pleasure. I wish I'd 0:13:46.200 --> 0:13:48.120 spent more of my life focusing on pleasure. 0:13:48.720 --> 0:13:50.440 I was that nerdy did the business trips and just 0:13:50.480 --> 0:13:54.960 went there and back, you know, to dedicated, and I 0:13:55.000 --> 0:13:57.880 really think there needs to be more pleasure in life. Yeah, 0:13:57.960 --> 0:14:00.480 I mean it's a very I think definitely post COVID, 0:14:02.320 --> 0:14:05.360 a real opportunity and I think with more flexible working 0:14:06.240 --> 0:14:09.720 mindsets that employeers have, we're seeing a lot of people, 0:14:09.760 --> 0:14:11.720 you know, book for their work trip and then take 0:14:12.360 --> 0:14:14.960 a few days either side, or you know, at least 0:14:15.160 --> 0:14:20.360 a week either side to have a holiday experience. So 0:14:21.880 --> 0:14:24.040 definitely on the rise. I think, definitely more on the 0:14:24.120 --> 0:14:27.360 rise coming out of COVID, and a note to self 0:14:27.440 --> 0:14:31.640 that as an overly dedicated professional women, we should probably 0:14:31.640 --> 0:14:33.000 put more pleasure in our lives. 0:14:33.840 --> 0:14:36.000 I don't mind a bit of pleasure, which is when 0:14:36.040 --> 0:14:40.080 you merge business and leisure. Have you seen it dropping 0:14:40.120 --> 0:14:42.320 off with more people returning to the office. 0:14:42.320 --> 0:14:46.480 Or we haven't really noticed that as a change. 0:14:46.480 --> 0:14:51.960 I mean, business travel is extremely resilient and despite you know, 0:14:52.520 --> 0:14:59.480 escalating airline pricing around Australia and New Zealand, domestically, business 0:14:59.520 --> 0:15:04.240 travel is softer, but it's just all very, very resilient. 0:15:05.520 --> 0:15:07.840 So what's next for the travel industry. I think you 0:15:07.920 --> 0:15:11.840 touched on AI before. I know, last time we caught up, 0:15:11.840 --> 0:15:14.800 you were talking about how, you know, the multi destination 0:15:15.040 --> 0:15:17.040 stops it was being you know, you were using some 0:15:17.120 --> 0:15:20.040 AI to harness optimization there. Do you want to talk 0:15:20.080 --> 0:15:22.880 about those kinds of trends and what's been going on 0:15:22.880 --> 0:15:23.400 at Webjet? 0:15:23.880 --> 0:15:24.640 Yeah? Sure, So. 0:15:24.960 --> 0:15:28.160 I think our belief system is that AI is no 0:15:28.240 --> 0:15:29.560 longer a future trend. 0:15:29.600 --> 0:15:31.080 It is here and it is real. 0:15:32.360 --> 0:15:35.960 And you know, I task my team with Okay, I 0:15:36.040 --> 0:15:38.240 want you to just think critically of every single thing 0:15:38.240 --> 0:15:41.000 in this business that we do and see where AI 0:15:41.120 --> 0:15:43.640 can't help on an operational basis, and I think we 0:15:43.760 --> 0:15:46.560 use AI very well on that level. A great example 0:15:46.640 --> 0:15:50.960 is QA or quality assurance. So with all course into agents, 0:15:51.160 --> 0:15:53.680 you'd have someone you know, logging in and listening to 0:15:53.720 --> 0:15:55.800 your cause and going, oh, sonya, that was really great. 0:15:56.160 --> 0:15:56.840 I loved it. 0:15:56.960 --> 0:15:59.320 How when you spoke with that customer you said, X, 0:15:59.400 --> 0:16:01.880 Y and Z next time. I think you can really 0:16:01.920 --> 0:16:04.520 help them out a little bit more by doing ABC 0:16:05.480 --> 0:16:08.200 so as a coaching formula. So now we just have 0:16:08.280 --> 0:16:12.880 AI listen to it processes and summarize it up and 0:16:13.000 --> 0:16:14.760 send that to the agent. 0:16:15.120 --> 0:16:17.120 So operationally we use it really well. 0:16:18.040 --> 0:16:20.880 Where we're doing lots of thinking right now is how 0:16:20.920 --> 0:16:23.200 do we take it to that next level? You know, 0:16:23.200 --> 0:16:25.000 I always used to say do you build it, buy 0:16:25.000 --> 0:16:27.280 it or borrow it? Now it's built it by borrow 0:16:27.400 --> 0:16:30.800 or bot it, So you know, really thinking about how 0:16:30.920 --> 0:16:35.160 we use it within our strategy. And I think how 0:16:35.320 --> 0:16:39.520 people curate any aspect of their life and any purchasing 0:16:39.560 --> 0:16:42.760 decision is going to be fully informed by AI in 0:16:42.760 --> 0:16:46.960 the future. And what AI does need though is brands. 0:16:47.800 --> 0:16:51.280 So if we can put the bot and the brand together, 0:16:51.960 --> 0:16:55.080 I think that is really a secure future for businesses 0:16:55.440 --> 0:16:59.280 that could be dismediated by any amount of sort of 0:16:59.280 --> 0:17:01.280 AI technology that's being developed right now. 0:17:02.000 --> 0:17:04.680 How are you finding that kind of transition or change 0:17:04.800 --> 0:17:06.600 as you lead the company? 0:17:06.760 --> 0:17:10.240 Look, I think any transformation is really difficult. Change is difficult. 0:17:10.280 --> 0:17:13.600 As humans, we don't actually like it. We're naturally creatures 0:17:13.640 --> 0:17:18.239 of repeat, So change in transformation is really difficult. And 0:17:18.320 --> 0:17:22.240 I think we're walking along a strong line of transformation 0:17:22.280 --> 0:17:25.800 and Webjet. You know, we're twenty seven years young, and 0:17:25.840 --> 0:17:29.280 as part of the broader group, it was a consistent 0:17:29.440 --> 0:17:34.000 performer that didn't have a heap of investment. Now where 0:17:34.200 --> 0:17:37.840 we've pulled that out, we've got of its own dedicated board, 0:17:38.119 --> 0:17:43.760 its own dedicated balance sheet, and you know, some stronger 0:17:44.200 --> 0:17:47.840 I guess additions coming into the business in terms of transformation, 0:17:48.560 --> 0:17:50.960 and we're asking a lot of the business and that's 0:17:51.000 --> 0:17:53.840 to you know, really go on a process of evolution. 0:17:54.800 --> 0:17:58.199 But you know, please to say my business is you know, 0:17:58.280 --> 0:18:01.840 really starting to evolve and adapt really really well. 0:18:01.960 --> 0:18:04.280 When you think for the next five years, you know, 0:18:04.359 --> 0:18:08.000 any other challenges or opportunities impacting your industry. 0:18:07.680 --> 0:18:10.200 I think, you know, one key challenge will be level 0:18:10.240 --> 0:18:14.320 of competition domestically for airlines. I'll be really interested to 0:18:14.359 --> 0:18:19.280 see where that evolves to given we've lost Tiger, bondser 0:18:19.400 --> 0:18:23.160 and Rex in the last you know, a couple of years. 0:18:23.160 --> 0:18:25.440 So I think that'll be interesting to see how that evolves. 0:18:26.080 --> 0:18:29.640 And I think AI and how it evolves in terms 0:18:29.680 --> 0:18:35.200 of how it helps people curate plan book is the 0:18:35.240 --> 0:18:38.840 sort of key trend that we're really watching. But for us, 0:18:38.840 --> 0:18:41.760 specifically for Webjit for the next five years, we've outlaid 0:18:41.760 --> 0:18:45.080 our plan now It's a very clear and robust strategy 0:18:45.200 --> 0:18:48.520 and now we are one hundred percent focused on executing it. 0:18:49.160 --> 0:18:51.480 There's a lot of other noise, but the most. 0:18:51.280 --> 0:18:54.800 Important thing I have seen in my time in terms 0:18:54.840 --> 0:19:00.320 of delivering value for your shareholders, whoever they are, is 0:19:00.320 --> 0:19:03.800 about really focusing on your strategy and just delivering that. 0:19:04.600 --> 0:19:08.520 So what is what's coming next, Well, there's the relaunch 0:19:08.560 --> 0:19:12.399 of the brand that'll be some time later in this year. 0:19:13.160 --> 0:19:16.680 At the same time, we'll relaunch our packages and tours offering. 0:19:17.040 --> 0:19:19.840 So we're partnering with some great organizations such as Intrepid 0:19:19.880 --> 0:19:24.439 and a travel corporation to add flights, package and tours 0:19:24.480 --> 0:19:28.360 together to create a unique content, unique package, so we'll 0:19:28.359 --> 0:19:33.160 be delivering that. We are looking at developing our own 0:19:33.200 --> 0:19:36.640 loyalty program to create that real stickiness with our customers, 0:19:36.720 --> 0:19:39.240 keep them coming back and reward them for doing so. 0:19:39.240 --> 0:19:41.719 So we're currently very early stages but developing out our 0:19:41.800 --> 0:19:46.359 loyalty strategy. And I guess the last piece is business travel. 0:19:46.400 --> 0:19:49.119 We talked about a little bit leisure, business and leisure. 0:19:49.560 --> 0:19:53.199 We talked a little bit about that before, but we 0:19:52.600 --> 0:19:56.280 are we learned in our big strategy search last year 0:19:56.320 --> 0:20:01.560 that we're actually by default a corporate travel advisor. People 0:20:01.680 --> 0:20:07.320 love webjit for really transparency around fees and transparency around 0:20:07.320 --> 0:20:09.720 that I'm getting the best price on that flight. And 0:20:09.760 --> 0:20:12.600 the third thing, they love our mix and match matrix 0:20:12.640 --> 0:20:14.600 where you can fly up with one airline and fly 0:20:14.720 --> 0:20:18.120 back with another, getting that on one ticket, and most 0:20:18.160 --> 0:20:21.120 airlines won't offer that, they won't offer their competition to you, 0:20:21.160 --> 0:20:23.679 and we put that together for people. So it turns 0:20:23.720 --> 0:20:27.960 out and smaller than medium sized businesses, they really appreciate 0:20:27.960 --> 0:20:31.520 that transparency and the ability to deliver great you know, 0:20:31.560 --> 0:20:35.920 ticket pricing and great travel expenses through. 0:20:35.760 --> 0:20:37.040 To their CFO. 0:20:37.600 --> 0:20:39.520 So we want to We've spoken to a lot of 0:20:39.520 --> 0:20:42.880 those customers understand what are their two other three three 0:20:42.960 --> 0:20:47.800 things that they really need to you know, sort of 0:20:47.920 --> 0:20:51.359 us to become their preferred corporate travel provider or for 0:20:51.440 --> 0:20:54.119 us to retract other customers in the small to medium 0:20:54.160 --> 0:20:58.280 sized enterprise area. So we've developed out that strategy and 0:20:58.480 --> 0:21:00.000 we look forward to sort of launching that as well. 0:21:00.040 --> 0:21:00.240 Well. 0:21:00.680 --> 0:21:03.200 And so is there anything you know You've obviously got 0:21:03.200 --> 0:21:06.640 shareholders through the shares these platform, what's one thing you'd 0:21:06.720 --> 0:21:07.760