Good morning, everyone, and thank you all for joining us today for our first quarter fiscal year 2025 results presentation for the three months ending 30th of June 2024. I'm David de la Rocha, the Director of Investor Relations at eDreams ODIGEO. As always, you can find the results materials, including the presentation and our results report, on the Investor Relations section of our website. I will now pass you over to Dana Dunne, our CEO, who will take you through the first part of the presentation. Thank you, David. Good morning, everyone, and thank you for joining us today. The key takeaway from today's results is that eDO continues to show strong growth in Prime subscribers, and Cash Marginal Profit margin continues to build as the maturity of Prime members increases. In fact, Cash Marginal Profit margin was up 9 percentage points over the last year to a margin of 45%. In addition, we added 409,000 subscribers in the first quarter of FY 2025 and are on target to meet our self-set targets for FY 2025. Today, we'll take you through the key points of our strong performance. This includes, first, the eDO results highlights. Second, the Prime model continues to drive very strong growth, and we'll review our strong first quarter results. And thirdly, we'll conclude today's presentation with some closing remarks about our long-term fundamental growth potential, well beyond FY 2025. Please turn now to slide four. This is a summary of our performance for the first quarter of this fiscal year 2025. As mentioned, our profit margins have increased significantly due to the strength of our Prime model and the increasing maturity of Prime members. This has resulted in Prime cash EBITDA growing 71% year-on-year. Some of the key highlights for today's presentation are: firstly, in the first quarter of FY 2025, the strength of the Prime model drove significant growth and has guided improvements in profitability. Prime members grew 32% year-on-year, reaching 6.2 million, with net adds at 409,000. We're on track to reach our three-and-a-half-year-old self-imposed FY 2025 target. I remind you, as highlighted in the past, that we expect volatility on a quarterly net adds basis. Cash marginal profit stood at EUR 60 million, and that's up 16% year-on-year, and the margin had a 3 percentage point improvement over a year as well. Cash EBITDA stood at EUR 36 million. That's up 23% year-on-year, and cash EBITDA margin had a 3 percentage point improvement in just over one year as well. More importantly, the free cash flow, excluding non-Prime working capital, grew even more and stood at EUR 20.4 million. That compares to EUR 15.2 million in the first quarter of FY 2024. This is a EUR 5.2 million improvement year-on-year, which is an increase of 35%. The second highlight, the Prime model continues to drive very strong growth. The growth in Prime more than offset the anticipated declines in the non-Prime side of the business and results in significant improvements in profitability. Prime cash revenue margin grew by 22% following the strong growth in members. Prime cash marginal profit grew 54%, and the margin had a 9 percentage point improvement in just one year. Prime cash EBITDA grew even more as we started to leverage a more scalable fixed cost base. Even with strong top-line growth, Prime cash EBITDA grew 71%, and the margin expanded 9 percentage points as well. The third highlight is our outlook. ODIGEO remains on track to meet the EUR 180 million cash EBITDA target, Prime members in excess of 7.25 million members, and will do it with its generation of free cash flow, excluding non-Prime working capital of over EUR 90 million, which means that this more than doubles versus fiscal year 2024. All of this growth is while we have faced many industry headwinds over the past three years. However, it's important to highlight that we expect to see better year-on-year comparatives in the second half of this fiscal year as we increase our member base and the maturity of our Prime members increases. Year-on-year comparatives expect to be the following: Prime members in the first half of the fiscal year are expected to grow around 28% versus September 2023, and in March 2025, by around 24% versus March 2024. Also, cash marginal profit margins are expected to be around 36-37% in the first half of this year, and 42%-43% in the second half fiscal year, resulting in around 40% cash marginal profit margin for the group for the full fiscal year, FY 2025. Furthermore, I'd like to remind you that the CNMV, that's the Spanish Stock Exchange regulator, approved on the 24th of July, 2024, our voluntary and partial tender offer launched for a maximum of 4,550,864 of shares, representing 3.6% of eDO issued shares at a fixed price of 6.9 EUR per share. The timetable for the offer has been announced. The acceptance period for shareholders to tender their shares started on 29t h of July, 2024, and finishes on the 6th of September, 2024. All concluded. Concluding the highlights with a comment about longer term. We've been building a long-term sustainable proposition, and eDO has strong fundamental growth potential beyond FY 2025. Prime is significantly under-penetrated in main markets and can go to new markets. In sum, Prime's proven model continues to drive very strong growth. It has delivered significant uplifts in profit margins, and we believe that we have the right model, right people, and the right structure to seize and deliver on the exciting shareholder value, creating opportunities ahead of us. With that, now let me pass it over to David Elizaga, who will take you through some of the KPIs of our Prime model and the strong growth and significant profit improvements in the first quarter of FY 2025 results. Thank you, Dana. If you could all please turn to slide six of the presentation, I will take you through the Prime model. eDreams profitability was up significantly due to strong growth of Prime members in year two plus, and cash marginal profit margin reached 42%. Cash EBITDA also rose significantly, and we are well on track to meet our target of over EUR 180 million in fiscal 2025. As guided, the growing numbers and maturity of Prime members has resulted in a strong improvements in profitability. In the first quarter of fiscal 2025, our LTM Prime cash marginal profit margin continued to improve. It increased to 42% from 34% in the first quarter of fiscal 2024. That is an 8 percentage points improvement. Group cash EBITDA also improved substantially. In the first quarter of fiscal 2025, cash EBITDA margin reached 19% versus 16% in the first quarter of fiscal 2023. This is an improvement of 3 percentage points. If you please turn to slide seven, let me remind you that when looking at Prime versus non-Prime, we still think it makes more sense to look at our business on a last 12-month basis, as Prime is an annual subscription business, and the non-Prime part is quite influenced by seasonality patterns. Our KPIs reported today show strong growth and significant marginal profit uplift. Cash marginal profit was up 23% over the last 12 months, as we have more year two-plus members of Prime. Also, Prime's strong growth more than offset the anticipated declines in the non-Prime side of the business. We continue to be selective on how we spend marketing, and we put more focus on Prime products versus developing products and services for the Non-Prime side of the business. eDO is fundamentally a subscription model-led business focused on travel. Over the last 12 months, Prime has delivered 63% share of group cash revenue margin and 81% share of group cash marginal profit, versus 50% and 59% a year ago. As we now have a much larger proportion of our Prime members in the second year and subsequent years of membership cohort, the level of profitability of Prime continually improves. If you could all please turn to slide eight of the presentation, I will take you through the financial results in more detail. In the first quarter of fiscal 2025, we delivered a strong growth in cash EBITDA and substantial improvements in margin as the maturity of the Prime members increases. In the first quarter of fiscal 2025, cash revenue margin was 4% higher than in the first quarter of fiscal 2024. Cash marginal profit and cash EBITDA improved 16% and 23%, respectively, between the first quarter of 2024 and the first quarter of 2025. Over the past year, our subscribers grew by 32% to 6.2 million, and our ARPU grew EUR 1.1. In a context of consumer softness in Europe, as confirmed by several travel companies recently, we have given more discounts to our Prime members, as algorithms indicate it is better for lifetime value of those customers. As a result of all of the above, ARPU is expected to be around the mid-seventies for the rest of the year. While speaking about our revenues, you will notice in the breakdown by type of revenue that Gradual Revenue is increasing, while Transaction al Revenue is decreasing. There are three drivers behind this. The more important is the one already mentioned of higher Prime discounts. But additionally, we are experimenting with higher tiers of Prime that include services previously sold as ancillaries, therefore, moving former Transaction al Revenue to Gradual Revenue. And lastly, it's important to note that our access to Ryanair content is intermittent. We have been dealing with the intermittent access to Ryanair content now for over nine months, and our results already reflect this situation. We have the strength of our subscription business model continuing to deliver on material Cash EBITDA and cash flow growth. On the Prime members, it is important to emphasize that Prime renewals have remained unaffected, as eDreams and Prime continue to deliver exceptional value across nearly seven hundred airlines, millions of accommodations, and thousands of car rental providers. However, we acknowledge that customers solely interested in Ryanair flights are less likely to join Prime. Overall, it's fair to say that excluding this headwind, we would have materially exceeded our target of fiscal 2025 Prime members. Coming back to our first quarter overall P&L, 63% and 81% of our cash revenue margin and Cash Margin al Profit in the quarter, respectively, are now for Prime members. As guided, eDreams profitability was up significantly due to strong growth of Prime members in year two plus. Cash Marginal Profit margin increased to 35% for the first quarter of 2025, from 31% in the first quarter of 2024, 3 percentage points improvement. Cash EBITDA margin in the first quarter of 2025 also achieved very substantial improvements and stood at 21% versus 18% in the first quarter of fiscal 2024. Cash EBITDA stood at EUR 36 million in the first quarter of fiscal 2025, up 23% year-on-year. Please turn to slide nine of the presentation. Revenue margin, excluding adjusted revenue items, increased by 2% to EUR 160 million. This increase was driven by the strong growth of Prime revenue margin, which grew by 20% due to strong growth in members and because Prime ARPU increased to 76.6. This strong growth in Prime revenue margin, as anticipated, was partly offset by the Non-Prime revenue margin, which decreased 20% versus the first quarter of 2024, following the switch of our customers from Non-Prime to Prime, and more generally, to a focus on the Prime side of the business. Variable costs were broadly in line with the first quarter of fiscal 2024, despite the higher revenue margin, as the increasing maturity of Prime members reduces acquisition costs. Fixed costs increased by EUR 1.5 million, driven by higher personnel costs and, to a lesser extent, higher IT costs, now that we have reached our recruiting targets. Fixed costs will grow less than they did over the last two years, and as a result, we will see more leverage of our fixed costs from now on. As a result, Adjusted EBITDA was EUR 22.6 million. That's EUR 36 million, including the full contribution of Prime, from EUR 20 million in the first quarter of 2024. Adjusted net income stood at EUR 2.6 million in the first quarter of fiscal 2024. Turning now to slide 10, I will take you through the cash flow statement. In the first quarter of fiscal 2025, we closed the first quarter with positive net cash from operating activities of EUR 29 million as a result of the successful expansion of the Prime member base, which resulted in increased EBITDA. In the first quarter of fiscal 2025, we had a working capital inflow of 6.8 million, mainly driven by the growth of our business. The higher inflow in first quarter of 2025 versus 2024 is driven by Prime. We have ample liquidity and headroom to deliver our plans, a consequence of our strong business model, cash generation, and active management. At the end of June 2024, the liquidity position was strong at EUR 228 million. We have invested EUR 14.7 million in the first quarter of 2025, an increase of EUR 4 million as we capitalize our software. Cash used in financing amounted to EUR 6.2 million, compared to EUR 5.2 million in the first quarter of fiscal 2024. The variation by EUR 1 million mainly relates to the acquisition of treasury shares for EUR 4.8 million during the first quarter of 2025, offset by the payment done in the first quarter of 2024 of the government-sponsored loan for EUR 3.8 million. I will now turn the presentation back to Dana to do some closing remarks. Thank you, David. Everyone, if you can please turn to slide 11 of the presentation. Overall, we're well on way to meet our self-imposed FY 2025 targets, which, to remind you, are Prime members over 7.25 million and cash EBITDA in excess of EUR 108 million. What underlies this is that eDO has huge potential, superior returns for shareholders and customers while transforming and revolutionizing the industry. Furthermore, we are confident in the growth and profitability outlined in our guidance, and also believe the company's worth is clearly unrecognized and undervalued. As a result, on the 24th of July, t he Spanish Stock Exchange regulator approved our voluntary and partial tender offer launch for a maximum of 4,550,864 shares, representing 3.6% of its issued shares at a fixed price of EUR 6.9 per share. We will consider subsequent share buybacks as we continue to generate free cash flow on an ongoing basis. I'd like to conclude by highlighting the strong fundamental growth potential we have beyond FY 2025. The longer-term potential beyond FY 2025 is significant. When we announced our self-imposed targets for FY 2025, there was no Omicron, no macroeconomic concerns of 2022 and 2023, with high inflation, significant economic uncertainty, and travel was expected to be back at pre-COVID levels much sooner than actually achieved. Yet through this, we have been growing very nicely in terms of Prime members, profitability, and overall profits. Underlying this is our relentless focus on building a great platform, a great customer experience. We believe we have growth far beyond FY 2025, with a proposition and business model that is successful. With that, we would now like to take your questions. We will answer the questions sent to us in writing in the webcast. We will take questions on a first-come, first-served basis. We will also try to group questions of similar nature. Should we not have time to respond to questions from the webcast, the investor relations team will make sure those are answered afterwards. So let me go with the first set of questions that come from Chadd Garcia of Ave Maria Funds. The first one says: When should we learn the results of the tender offer? Hi, Chad, thank you for your questions. The acceptance period of the tender offer finalizes this coming Friday, on the 6th of September. That is the deadline for investors to notify they tender the shares to their respective custodians. Then the custodians take a bit of time to notify that to our agent bank, and then the agent bank notifies ourselves and the, and the stock exchange regulator. So I think we will know early next week, but I cannot tell you exactly which, which date exactly. The second question says: If you continue to use off tender offers as a method of returning capital to shareholders, how many can you execute in a year? What I can say for sure is that we have a business that is producing cash flow in very good amounts. We have given explicit guidance that this year we will have more than EUR 90 million in free cash flow, excluding the Non-Prime Working Capital. We're going to use a nice chunk of that in this, in this tender offer that is ongoing right now. And after that, will be more return of capital to shareholders. But at this point in time, which methodology will we use and with what frequency is still up to be decided. The third question says: You completed your multi-year talent recruitment campaign early. Any comments on the job market and need for talent in the future? Absolutely. So as all of you know, we're a technology company, and the talent market is absolutely competitive. But at the same time, we're also a subscription company, really pushing the frontiers. And what that really means is also that we're one of the leading e-commerce companies in Europe and one of the leading subscription companies in Europe. And this gives us a distinct advantage in attracting talent, and above all, our culture and our eDOers are unique, and we have a really great reputation for that. David? The next question is: Can you expand on any enhancements you have made to the Prime program that you have made over the last few years? Yeah, let me take that. So yeah, we continue to improve and iterate on, actually, the customer proposition. So for those of you that don't know, we started in 2017, and it was flights-only offering, and we have now grown that so that it is much broader than that. So it's flights, it's hotels, it's cars, and also packages, dynamic packages as well. In addition to that, beyond a product feature, we have continued to improve significantly the proposition, how we service customers. A lot of this actually has been AI-driven underneath, so that we really tailor the approach to the individual customer. And that's one of the key things that underlies such great customer satisfaction, customer experience, and ones that we have, because that is really one of the key, key competitive advantages of the subscription program, in that we know exactly who our customer is, what their history is, and we're able to tailor their experience, their proposition, what they see, et cetera, to exactly their needs, i.e., through their past behaviors of it. And we will continue, we continue to improve. We believe that is so critical in terms of our Prime proposition, to meet the needs and really exceed the needs of our customers. David? Okay. The next set of questions come from Akhil Rastogi of SphereInvest. The first one says: "To hit fiscal 2025 cash EBITDA target of EUR 180 million, you need to grow the next nine months cash EBITDA by over 50% on a year-on-year basis. Can you walk us through how this will evolve over the next few quarters?" Thank you, Akhil, for your question. So, yeah, the, so the situation in the Q1 versus Q2, Q3, Q4, doesn't change very materially, because in round numbers, we're going from EUR 121 million - EUR 180 million, which in itself was an increase of almost 50%. So that ratio is relatively similar when you look at Q1 versus Q2, Q3, and Q4. Another way that you can look at this is, in broad terms, a EUR 60 million improvement between fiscal 2024 and 2025 is not linearly distributed quarter -by -quarter. So it's not like you're gonna have every quarter with EUR 50 million better than the same quarter of the previous year. It doesn't work like that because, you know, that the drivers of the evolution are mainly two. One is the number of Prime members, and that grows every quarter, and the other one is the maturity of Prime members, which also grows every quarter. So you should expect that, you know, instead of having 15% delta linear for four quarters, you're gonna have the first two quarters with less than 15%, the second two quarters, more than 15%. We have given very specific guidance. We have a table on the first page of the results release that says that in terms of Cash Margin al Profit margins, we will have the first half at around 36%-37%, and the second half with about 42%-43%. And you also have explicit targets for the Prime members. So I think you have all the elements in there that help you to create your quarterly view. The second question says: "Can you comment on how the general travel environment is in Europe? Are travelers still focused on shorter trips? Also, any comments on how Olympics affected travel post-quarter? Yeah. Let me take that, David. So I think many of you have seen probably not, you know, not just kind of OTAs, travel companies, but also airlines have been saying recently that there's been a softness in the travel market in Europe, and, and David has said that as well, this morning. So how does that manifest itself? Well, we see that there's been a change in the customer behavior, which really, in turn, goes into a decline in the average basket size. So it would lead more towards, you know, fewer packs, more towards kind of shorter haul domestic. But I really have to highlight that we are a subscription company. And that means that we are fundamentally less affected than other players. As David also talked about, competitors are... That don't have subscription are more affected and therefore are doing certain things in the market to try to really compete, especially in marketing investment, to get that extra transaction. Yeah. We've decided many times that we're not gonna play in this type of game, because we're very strong with the subscription program, and you see, actually, with our profits actually going up and increasing significantly. We have a very different business model around this, and where it does impact us more, this type of environment, is on the non-Prime side of the business, which again, David explained. Now, the second part of the question is about the Olympics, and just to remind people that we recognize our revenues at the booking date and not the recognized date. So we've not been specifically affected in the Q1 by the Olympics, because the change in demand driven by Olympics were in previous results for us already. On top of that, it's really important to say that for us, it's more about not where people travel, but do they travel, is even more important. And so just because people would want, let's say, within July or August or even September, to travel to Paris because of the Olympics and the Paralympics, it doesn't necessarily mean that they wouldn't have traveled someplace else if there wasn't that. So it's more about travel and the state of travel than where they travel. That is the most important driver for us. David? Yeah. The next question is: Can you comment more on the hotel product? Does the latest board addition help bolster your efforts in this area? Absolutely. So, as I was saying to one of the previous questions, that the Prime has really shown to be an excellent experience and an excellent customer proposition in a multi-product travel subscription offering, and so therefore, we've seen that there are absolutely opportunities in hotels and other product categories as well, cars, packages, and there's a number of other ones also, where Prime is attractive and can be attractive. So, yes, we're absolutely improving our proposition to customers around the hotel front and around all of the product categories, in fact, and we're very pleased with the changes we've made with on the experience, how we're servicing them, the feedback that we get from customers on all of those dimensions. Now, specifically in terms of the new board member, I think new board member is actually to be proposed for shareholder approval at our AGM coming up towards the end of September, and her profile is very, very strong. It's strong around a number of dimensions. The first one would be around technology and technology-based businesses, including being at one of the world's leading technology consultancy firms. Also, very, very strong P&L leader with excellent results on the leisure side of travel that's included around hotels. And she's also very strong strategically, and has a number of other really important qualities, all of which will make us a better, stronger board going forward in the future, not just in hotels, but as we think about eDO as a whole, as a company going forward. Okay, the next set of questions comes from Gaurav Nagar from Cantor Fitzgerald. The first one is, I understand that most of the EBITDA margin improvement comes from maturing of the Prime subscriber base, but is that to an extent, some of that improvement coming from the product mix of what Prime subscribers are purchasing? Thank you for your questions. Not really. You have to think that the vast majority of the products that we intermediate, what we register at the revenue, is already a net margin to us, and there's normally not a cost component attached to those products. No matter if we sell a flight, we sell a hotel, we sell an insurance, or whatever it is that we sell. There are very few exceptions to that, the most notable one being the cancellation for any reason, in which we have to book a provision or future cancellations. But other than that, it's really all in the output. So it goes into the output number that you have, that you have already. The biggest driver, and by very far, of the margins is the maturity of the Prime member base. The second question is, among the subscribers who do not renew after the first year, what are they saying in terms of feedback as to why they are not renewing? Absolutely. So let me broaden the question just to help everybody understand about subscribers don't renew after year one. The largest category is actually it's called failure to collect. And that means that when it's time to present for the renewal of the subscription fee, the card's no longer. It's been expired. And in Europe, that is a more common practice where, again, we are a leisure-focused business, where cards do not last as long, and so there's a number of customers whose credit card details we no longer or let's say new credit card details we will not have on file. So that's the largest, and by far the largest bucket involved. But then, of course, the customers where, you know, when we survey and we ask them, and we find out: Why did you cancel Prime or did not wish to renew Prime? The overwhelming largest answer or reason for non-renewal is simply that they were not certain that they would be traveling enough over the coming 12 months. David? Yep. The next question is, Prime cash revenue margin per subscriber grew just 9% year-on-year to around EUR 50. That kind of has a slowdown from the mid-double-digit growth seen last year. Is EUR 50-EUR 55 cash revenue margin per subscriber the kind of limit you expect to see, or do you think this can get much higher in the future? I'm actually not sure how you're calculating this, but Prime is a yearly program, and you should ensure that you take last 12 months members. You might have seen that the ARPU decreased in Q1 versus Q4, but it is increasing versus Q1 of the previous year. The number for the ARPU, which is the revenue per average subscriber, is EUR 76.6, and that compares with about EUR 77-EUR 78 in Q4, and it compares with about EUR 75 in the same quarter of the previous year. Now, the driver for the quarter-by-quarter decrease in Q1 is, as I said in my prepared remarks, that in a context of consumer softness in Europe, as confirmed by several travel companies, we have given more discounts to our Prime members because our algorithms are indicating that it is better for lifetime value of those customers. Now, let me take this opportunity to reiterate again something that I said in my prepared remarks. You should expect for the remainder of the year, for the ARPU to remain in the mid-seventies. The next question says: Do your algorithms give better discount to Prime subscribers who stay with you for longer and/or who are close to the end of their subscription program? Our algorithms are optimized based on a whole series of testings that we do for it to really maximize the LTV for us. So when we give a discount, it's really within that context. We look at a number of other factors around customer satisfaction, NPS, and a number of other things that are taken into account for our algorithms in terms of figuring out what is the right thing to do. Okay. The next question comes from Carlos Treviño of Banco Santander. You're guiding to Prime net adds at circa 285,000 in the second quarter of fiscal 2025, and an average of 355,000 in the third and fourth quarter. Considering that the second quarter net adds would be the lower average quarterly figure over the last three years, which dynamics impacting Prime in the second quarter do you expect to disappear or have a lower impact in the third or fourth quarter? Thank you for your question, Carlos. That's a very good question. This is driven by the performance of the business 12 months before the current. It's what you would call in normal financial terms, a tough comp. In the second quarter of fiscal 2024, we had a very high level of gross adds during that quarter, and therefore, those gross adds are the ones that you apply the churn percentage rate and result in a higher absolute number of churn members during the second quarter. That dynamic does not happen in the third and fourth quarter, which were, let's say, more normal, quarters. So that's the reason for the difference between the second quarter on the weak side and the third, fourth quarter in a return to normality, let's say. The next set of questions come from, Nizla Naizer of, Deutsche Bank. The first one says: How is consumer behavior trending when it comes to leisure travel versus a year ago? Are consumers flying more long-haul travel? Yeah, so let me take these. So I think I've touched on already some of Nizla's ones, so I don't want to repeat the answer about the change in the consumer behavior. But I think then Nizla also continues about, you know, just does return long-haul travel make Prime subscription more attractive? You know, could you still generate attractive economics of Prime customers if they book more expensive flights for that? And so let me really tackle that. So, first of all and foremost, our subscription model is really the way in which we make money, and really what it means is that we have been inspired by Costco on it. And so when we think about the incremental or the individual trip per se, a lot like your, let's say, daily shopping that you would do, we're not looking to make, you know, a significant amount of return on those from it. And instead, what you do is, in essence, you're ring-fencing instead your subscription fee because people really do enjoy and are satisfied for everything that they get within that, I can call it that daily shopping experience, where in our case, it would be around the trip. And then therefore, there's, you know, you increase your likelihood that customers would renew and renew and renew. So whether it be long haul, short haul, or, or, you know, depending upon even the product category, the approach is much more in terms of that, for it. The next question, also from Nizla is: Would you use your excess cash to reduce outstanding debt or for shareholder returns? Let me take that one. In the short term, there's really no financial incentive to reduce outstanding nominal debt because the debt is trading at par, and therefore, there's no financial gain if we repurchase it. Over time, but I think this is within more than a year from now, it will come the optimal time to refinance that debt, and at that point in time, we will see if issuing a smaller size bond, and therefore implicitly reducing the debt, results in better conditions for us than keeping the same size of the bond that we have now. But that's not within the next three quarters, for sure. In the meantime, we will dedicate the cash for shareholder returns. The next question comes from Andrea Gayo of A&G. Are you implementing any initiatives to help retain customers whose credit cards are expiring in the Prime membership program? Yeah. So we have actually, many initiatives to improve, let's call it the renewal rate, and depending upon the reasons of why the customer does not travel. We don't disclose these specifically, as it is clearly, you can understand, competitive information, so not gonna put this on a general, call whatsoever. But, rest assured, there are lots of initiatives around this. The next question comes from Jahan Mia of CreditSights. Do you see the Ryanair situation resolving anytime soon? Is there a chance that Ryanair will just remain off the eDreams platform for the foreseeable future? Let me be very clear. And I think David tried as well to be 100% clear on this. We continue to have access to Ryanair content, even if it's with intermittencies, right? There are intermittencies in this. What we are focused on doing is what is right to safeguard the interests of our consumers, our business, and of course, legal compliance. So what we have put in place is a multifaceted approach that allows us to ensure that we execute and do the right thing for consumers, the right thing for shareholders, and that, of course, follow European law. And it's only when those three things are met that we would do and consider the appropriate actions. I should also just state for everybody that there's been... This matter has been litigated in terms of access of content, and there's been final judgments from high courts in Europe, so it cannot be relitigated. And according to these rulings, our travel plans are fully within their rights to include all flights and all related public data as part of our offering. That is the last of the questions that we have received through the webcast. So thank you, everyone, for joining us, in the call, in the webcast today. Before we conclude the call, I would like to inform you that on Tuesday, 19th of November, we will be hosting our conference call for the first half of fiscal 2025, result presentation. Until then, we will be very happy to receive your questions via our investor relations team or in the investor email address, which is investors@edreamsodigeo.com. I hope you have, and thanks, and rest of the day.