Glenn Fogel

So how do we work here in Europe?

How together do we create up with rules that will be able to match up with rules in other parts of the world?

And that is something that, unfortunately, we as a global company have to deal with, but we cannot change.

Governments have to make these rules.

But we can give advice.

We can work with our legislature, our different members of parliament on ways to try and help them understand the difficulties that we are facing.

Well, the one I just brought up right now, the fact that in terms of new technologies and AI, agentic AI that's coming in, will we be allowed to use certain types of personalization or not versus our competitors may be able to do that.

We get into very technical things.

Well, it ends up we're in one of the most competitive industries in the world.

Travel is by far an area where people know that they get lots of different opportunities to do their travel.

And if they come to us and they do not see the same benefits, the same ease of use, the same personalization that is shown by one of our competitors, we may not get that sale.

And in the long run, what you end up with is that we'll end up with companies in the European area cannot compete.

Instead of hiring more people, we end up having to let people go instead.

And that'd be very detrimental for the economies overall.

Well, I won't comment on what the US president has said or not.

So I'll see more generalities.

The fact is,

I understand completely the need for regulations, but I also understand they need to be smart regulations.

They need to be done in a way that enables companies to continue to develop new technologies that will make better things for society.

And that's what we're doing.