WEBVTT

1
00:00:00.000 --> 00:00:02.320
We weren't sure if we were
going to survive this crisis,

2
00:00:02.320 --> 00:00:03.720
so we needed to make sure that everybody

3
00:00:03.720 --> 00:00:05.320
has this as their top priority

4
00:00:05.320 --> 00:00:08.440
as urgently as possible on their agenda.

5
00:00:08.440 --> 00:00:09.600
Then we said,

6
00:00:09.600 --> 00:00:10.960
"Let's get all the decision makers

7
00:00:10.960 --> 00:00:12.360
and all the data points that we have

8
00:00:12.360 --> 00:00:14.080
into one room effectively."

9
00:00:14.080 --> 00:00:15.960
So we built a war room to really be able

10
00:00:15.960 --> 00:00:18.440
to react very quickly
to whatever info pieces

11
00:00:18.440 --> 00:00:20.040
we got from the outside world.

12
00:00:20.040 --> 00:00:22.400
We've been sort of
trying to build a strategy

13
00:00:22.400 --> 00:00:23.520
around how do we save cash;

14
00:00:23.520 --> 00:00:25.440
how do we bring costs down;

15
00:00:25.440 --> 00:00:28.200
how do we help our partners
who operate the fleet

16
00:00:28.200 --> 00:00:29.720
to also navigate through it;

17
00:00:29.720 --> 00:00:30.560
and how do we,

18
00:00:30.560 --> 00:00:31.960
and this is the big driver for us around

19
00:00:31.960 --> 00:00:34.440
how do you sort of protect
your balance sheet--

20
00:00:34.440 --> 00:00:37.640
how do you manage capacity?

21
00:00:37.640 --> 00:00:39.520
So adjust capacity
downwards at the beginning,

22
00:00:39.520 --> 00:00:42.920
but also be able to adjust upwards
once demand was coming back

23
00:00:42.920 --> 00:00:44.680
through the different
phases of the pandemic.

24
00:00:44.680 --> 00:00:47.560
and this was to me the
most difficult part,

25
00:00:47.560 --> 00:00:49.840
how do you manage
motivation on the team where

26
00:00:49.840 --> 00:00:52.160
everybody just sees that
gloomy world out there

27
00:00:52.160 --> 00:00:55.560
and has all this unsecurity
and uncertainty around

28
00:00:55.560 --> 00:00:57.280
what is going to happen and
what does that mean for me?

29
00:00:57.280 --> 00:00:58.800
Is my job going to be
there tomorrow or not?

30
00:00:58.800 --> 00:01:01.720
This is the most difficult piece.

31
00:01:01.720 --> 00:01:02.520
And that's where we said

32
00:01:02.520 --> 00:01:05.200
at some point you also
need to build a very strong

33
00:01:05.200 --> 00:01:08.160
long-term narrative to give
that confidence to the team

34
00:01:08.160 --> 00:01:10.480
and a certain sort of portion
of optimism to the team

35
00:01:10.480 --> 00:01:11.600
that we're going to navigate through

36
00:01:11.600 --> 00:01:14.560
and ultimately come out stronger.

37
00:01:14.560 --> 00:01:16.000
And I mean, looking now in hindsight

38
00:01:16.000 --> 00:01:17.600
this is effectively what happens.

39
00:01:17.600 --> 00:01:18.960
Like we've managed really well.

40
00:01:18.960 --> 00:01:20.760
Very much data-driven decision making,

41
00:01:20.760 --> 00:01:23.680
really were strongly able
to adjust our capacity

42
00:01:23.680 --> 00:01:24.880
to demand patterns,

43
00:01:24.880 --> 00:01:27.600
still made sure we didn't
lose too much money.

44
00:01:27.600 --> 00:01:29.880
Of course we did lose a
significant amount of money

45
00:01:29.880 --> 00:01:30.880
through the pandemic,

46
00:01:30.880 --> 00:01:32.640
but we were healthier than everybody else.

47
00:01:32.640 --> 00:01:35.160
And this was putting us
into position where--

48
00:01:35.160 --> 00:01:39.640
first, survival as a
competitive advantage in itself,

49
00:01:39.640 --> 00:01:40.480
and then second,

50
00:01:40.480 --> 00:01:42.160
this gave us a lot of opportunity

51
00:01:42.160 --> 00:01:43.360
to also drive market share,

52
00:01:43.360 --> 00:01:45.080
consolidate market further,

53
00:01:45.080 --> 00:01:47.480
and really build out our position

54
00:01:47.480 --> 00:01:49.000
to an even stronger market leader

55
00:01:49.000 --> 00:01:50.680
in all of our geographies.