# Spirit Makes Plans to Shutter After Government Rescue Fizzles

An episode of [Bloomberg Intelligence](https://invisiblenetwork.ai/podcast/326301337), 1 May 2026, 19 min.

Audio: https://podtrac.com/pts/redirect.mp3/tracking.swap.fm/track/UVBrz8bN8aM2Xe47PEPu/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/7f534b8c-9e91-429a-b102-ae3c00090c6d/514d7a87-ba2d-4cda-9c22-b43d0113ed67/audio.mp3?utm_source=Podcast&in_playlist=0ad812bf-fd15-4012-a18c-ae3c00090c76

Watch Paul and Scarlet LIVE every day on YouTube: http://bit.ly/3vTiACF. Bloomberg Intelligence hosted by Paul Sweeney and Scarlet Fu - Sid Philip, Bloomberg Chief Correspondent for Global Aviation, discusses Spirit Aviation Holdings laying the groundwork to shutter its operations as it runs low on cash. Spirit, buffeted by the recent surge in fuel costs, had been in talks with the US government on a rescue financing, but those conversations hit an impasse in recent days, Bloomberg previously reported. -Gene Munster, Managing Partner at Deepwater Asset Management, discusses big tech earnings. Apple Inc. delivered a strong revenue forecast for the third quarter, with sales expected to rise 14% to 17% in the period. The company warned that memory-chip costs will increase and that shortages of Mac computers will persist for “several months.” - Vincent Piazza, Bloomberg Intelligence Senior Equity Research Analyst, Oil & Gas, discusses Chevron and Exxon earnings. Exxon Mobil Corp. and Chevron Corp. posted stronger-than-expected earnings for the first quarter due to higher oil and natural gas prices. -Deborah Aitken, Bloomberg Intelligence Luxury Goods Analyst, discusses Estee Lauder earnings. Estée Lauder Cos. plans to cut as many as 3,000 more jobs and generate a further $200 million of savings to help boost its turnaround plan. See omnystudio.com/listener for privacy information.

## Transcript

[0:02] Speaker 1: Bloomberg Audio Studios, podcasts, radio news. You're listening to the
[0:10] Speaker 1: Bloomberg Intelligence Podcast. Catch US Live weekdays at ten am
[0:14] Speaker 1: Eastern on Apple, Cocklay and Android Auto with the Bloomberg
[0:17] Speaker 1: Business App. Listen on demand wherever you get your podcasts,
[0:21] Speaker 1: or watch US live on YouTube.
[0:23] Speaker 2: Should build Up Bloomberg, chief correspondent for Global Aviation Should
[0:28] Speaker 2: Spirit Airlines trying to end operation what happened to the
[0:32] Speaker 2: potential deal with the US government.
[0:35] Speaker 3: So from what we understand, Spirit Deadlines couldn't reach a
[0:39] Speaker 3: deal with its creditors, and so the creditors were a roadblock.
[0:42] Speaker 3: Bloomberg earlier reported that creditors were a roadblock in agreeing
[0:46] Speaker 3: to any deal with the government, and that was primarily
[0:49] Speaker 3: because of concerns about what basically liabilities and what their
[0:55] Speaker 3: recoveries would look like post a government deal. I mean, remember,
[0:58] Speaker 3: the government was proposing them superseding other lenders, and so
[1:03] Speaker 3: that's turned into a bit of a The creditors weren't
[1:06] Speaker 3: sort of happy with that deal, and so we understand
[1:09] Speaker 3: because of that, the government deal can't go forward, and
[1:12] Speaker 3: that's really forcing spad Alines to consider bankruptcy and shutting down.
[1:17] Speaker 4: Essentially Okay, So a shutdown, what would that look like
[1:21] Speaker 4: for an airline? How long does that take?
[1:24] Speaker 3: Shutdowns usually take a few It could take a matter
[1:29] Speaker 3: of a couple of days, or it could be a day,
[1:31] Speaker 3: and it would sort of cause considerable discomfort and considerable
[1:35] Speaker 3: sort of pain to various people. So on one hand,
[1:38] Speaker 3: you have the passengers who would then be stranded without
[1:41] Speaker 3: options in terms of being able to fly. I mean,
[1:44] Speaker 3: we may see some of the credit the other airlines
[1:46] Speaker 3: and their competitors offering rescue flights or other sort of alternatives,
[1:51] Speaker 3: but as far as because the consumers are concerned, they
[1:54] Speaker 3: would be sort of looking for a way to get
[1:57] Speaker 3: out of their flights and see if they could go
[2:00] Speaker 3: to And the other concern is one for the staff
[2:03] Speaker 3: and essentially what happens with them, and then also the
[2:06] Speaker 3: assets of the airline and what happens with the aircraft
[2:08] Speaker 3: and other sort of assets that the airline has. So
[2:11] Speaker 3: there's multifacets to that thing. And we are still looking
[2:14] Speaker 3: to see what the rollout is going to be if
[2:16] Speaker 3: there is in fact no chance of saving this.
[2:19] Speaker 2: Yeah, I'm just looking at dees screen for Spirit Airlines
[2:22] Speaker 2: as shows has about almost ten thousand employees, So that's
[2:26] Speaker 2: the human side of it. Is there any chance, said,
[2:28] Speaker 2: that another airline could come in here, I see that
[2:30] Speaker 2: Jet bluestock is down more than four percent. Maybe people
[2:33] Speaker 2: speculating that they might come in and try to buy
[2:35] Speaker 2: this thing.
[2:37] Speaker 3: There could be speculation that the assets could go up
[2:39] Speaker 3: for the assets could be available to other airlines to
[2:42] Speaker 3: get them. There's also a possibility that the creditors and
[2:46] Speaker 3: the government reached some sort of agreement just in the
[2:49] Speaker 3: sort of final like the final hours. So it's still
[2:53] Speaker 3: not yet over, but we will be watching the story
[2:56] Speaker 3: to see what happens next.
[2:59] Speaker 2: Looking at Jet Blue Airways right now, the stock's actually
[3:02] Speaker 2: trading up. I correct myself, stocks trading up a little bit.
[3:04] Speaker 2: But I wonder the government blocked them before, so I'm
[3:08] Speaker 2: not sure they would proceed again.
[3:10] Speaker 4: That's a good question, I mean said, do you think
[3:12] Speaker 4: the government might try to pivot and not force consolidation
[3:17] Speaker 4: but encourage an airline to pick up spirit.
[3:21] Speaker 3: The government would drive, but again the stumbling block would
[3:24] Speaker 3: be what price those are paid and essentially what the
[3:27] Speaker 3: creditors sort of want from this. So it is hard
[3:31] Speaker 3: to see how an airline could come in and get
[3:34] Speaker 3: a merger done, especially given that Spirit's been running out
[3:37] Speaker 3: of cash and there's no in their second bankruptcy. I mean,
[3:40] Speaker 3: they were meant to exit their second bankruptcy, and so
[3:45] Speaker 3: it's hard to see how that could happen so quickly
[3:47] Speaker 3: in terms of giving them a lifeline to actually keep going.
[3:52] Speaker 2: Stay with us.
[3:53] Speaker 4: More from Boomwork Intelligence coming up after this.
[3:59] Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live
[4:02] Speaker 1: weekdays at ten am Eastern on Apple, Cocklay and Android
[4:06] Speaker 1: Auto with the Bloomberg Business App. Listen on demand wherever
[4:09] Speaker 1: you get your podcasts, or watch us live on YouTube.
[4:13] Speaker 2: This is a conversation of the day for me Gene.
[4:15] Speaker 2: Monster managing partner Deep Border Asset Management joins us here
[4:18] Speaker 2: because it was a big, big week for some of
[4:21] Speaker 2: the leading technology compans. You remember Friday afternoon we had
[4:23] Speaker 2: the Amazons, the Facebooks, to Metas, all that kind of stuff.
[4:26] Speaker 2: Microsoft report numbers, and then last night Apple Gene. You
[4:29] Speaker 2: saw a lot of the big names, a lot of
[4:31] Speaker 2: the headline names report earnings. Here today, it seems like
[4:34] Speaker 2: the market really is trying to identify winners, maybe a
[4:38] Speaker 2: Google losers at least in a short term, maybe a
[4:41] Speaker 2: Meta given it stockbased performance yesterday. What was your takeaway
[4:45] Speaker 2: from all these numbers.
[4:47] Speaker 5: Well, I tend to look at beyond the quarter, beyond
[4:50] Speaker 5: the guidance, and try to think about what we've learned
[4:53] Speaker 5: about whatever the kind of the investment curve that we're on.
[4:56] Speaker 5: Of course, we know what the a topic is, what
[4:59] Speaker 5: inning are we in AI? And what I learned is
[5:03] Speaker 5: I would say it's probably consensus from the takeaways, so
[5:07] Speaker 5: it's that we're still early, probably earlier than what we
[5:10] Speaker 5: had thought maybe six months or a year ago. And specifically,
[5:14] Speaker 5: if we look at kind of one benchmark, which is
[5:17] Speaker 5: the hyperscalers capex spend for this year and for next year,
[5:21] Speaker 5: we saw a measurable bump up for calendar twenty six
[5:24] Speaker 5: calendar twenty seven. So three of the four, with the
[5:27] Speaker 5: exception of Amazon three, those the other three, Google, Microsoft
[5:31] Speaker 5: and Meta all increased their growth rates meaningfully, again off
[5:36] Speaker 5: of numbers that were hard to imagine them going higher.
[5:39] Speaker 5: That's been kind of a well traveled so Paul, to
[5:41] Speaker 5: answer your question is I think we are still very early,
[5:45] Speaker 5: very early, second inning in all of this, and I
[5:48] Speaker 5: think there's just this there's part of just being a
[5:51] Speaker 5: human thinking that this just can't last. I mean we've
[5:55] Speaker 5: been we're entering year three of this incredible growth. Like
[5:58] Speaker 5: the numbers just keep getting bigger and the comps get
[6:01] Speaker 5: more difficult, and they just keep crushing through it. Eventually
[6:04] Speaker 5: it has to slow down. We're just not seeing that.
[6:06] Speaker 5: And I would just put one other piece that we've learned.
[6:10] Speaker 5: Google and Meta both have shown that they can leverage
[6:15] Speaker 5: AI at scale. Those companies have seen some remarkable accelerations
[6:19] Speaker 5: in their growth, Google Search going from call it ten
[6:22] Speaker 5: to eleven percent a year or so ago to nineteen
[6:25] Speaker 5: percent in the March quarter. Meta was growing at sixteen
[6:29] Speaker 5: percent their AD business in the March twenty five quarter.
[6:32] Speaker 5: They were at thirty three percent a year later and
[6:35] Speaker 5: guided to twenty eight percent for the June quarter. So
[6:40] Speaker 5: we have seen these two companies are great examples of
[6:45] Speaker 5: the benefit this nagging question about is there actually utility
[6:49] Speaker 5: and AI. These companies have showed that, but beyond those,
[6:52] Speaker 5: the world really hasn't seen it. And I think that's
[6:54] Speaker 5: the opportunity.
[6:56] Speaker 4: So if we're the second inning of the AI cycle,
[6:58] Speaker 4: as you put it, does that mean Apple, which really
[7:01] Speaker 4: has not done very much with AI, is really not
[7:04] Speaker 4: that far behind and can make up whatever lost ground
[7:07] Speaker 4: people seem to think it has, or is Apple's interaction
[7:10] Speaker 4: with AI just fundamentally different than the hyperscalers and the rest.
[7:13] Speaker 6: Of big tech.
[7:16] Speaker 5: Well, Apple is both behind, but not far enough behind
[7:21] Speaker 5: that they can't catch up. To your point, and I
[7:22] Speaker 5: would just look at very simply, is you know there's
[7:25] Speaker 5: a problem if there was some other competing AI consumer
[7:29] Speaker 5: device that was capturing people's attention. We haven't seen that yet.
[7:32] Speaker 5: That's example of a problem. Another example that we'd know
[7:35] Speaker 5: there's a problem if somehow the kind of the base
[7:39] Speaker 5: was starting to drift away for whatever reason. And they've
[7:42] Speaker 5: essentially continued to strengthen their underlying base. And you know,
[7:47] Speaker 5: the numbers are are quite remarkable, and I think that
[7:51] Speaker 5: part of the reason why we've seen this surge over
[7:54] Speaker 5: the last three quarters. So iPhone on average has grown
[7:57] Speaker 5: at twenty percent of the last three quarters. The previous
[8:00] Speaker 5: basically four years, it grew at an average of just
[8:05] Speaker 5: over one percent. So we've seen this big jump up.
[8:08] Speaker 5: That's called a supercycle. That's what I would call a supercycle.
[8:11] Speaker 5: Supercycles don't last, but the fact that they're able to
[8:14] Speaker 5: deliver a supercycle in the face of not having any
[8:18] Speaker 5: compelling AI. I think speaks to how they've just become
[8:21] Speaker 5: the fabric of consumers' lives so scarlet to kind of
[8:24] Speaker 5: bring it all together, I think that you know, they're
[8:27] Speaker 5: not so far behind that they can't capitalize on this,
[8:31] Speaker 5: And I mean that's the real question here. Shares of
[8:33] Speaker 5: Apple right now up four percent ish on what was
[8:37] Speaker 5: some spectacular guidance, really underscores that investors are essentially looking
[8:43] Speaker 5: past this great guidance in the June quarter. They're already
[8:46] Speaker 5: thinking about next year where that growth slows down, back down,
[8:50] Speaker 5: iPhone growth back to five percent versus twenty percent over
[8:53] Speaker 5: the past few quarters. And that's kind of the central
[8:56] Speaker 5: question here. You're getting at. The real question is like, ultimately,
[8:59] Speaker 5: can they take AI and create growth, outsize growth outside
[9:06] Speaker 5: of the supercycle. And that's what investors essentially don't believe
[9:10] Speaker 5: right now. But that's what kind of where the lines
[9:12] Speaker 5: are laying down Geene.
[9:14] Speaker 2: If we're in the second inning, does that suggest we've
[9:17] Speaker 2: got many quarters and maybe years of this elevated level
[9:20] Speaker 2: of capex to look forward to, and if so, would
[9:23] Speaker 2: that become increasingly ahead winding for the stocks?
[9:27] Speaker 5: Well, the CAPEX impact is different for different companies, and
[9:31] Speaker 5: so the best that I can see is that if
[9:34] Speaker 5: you're a hyper scaler and you're spending more on Capex,
[9:38] Speaker 5: if you have a cloud business, then your investors are
[9:41] Speaker 5: generally okay with that spending. On the Google call, they
[9:45] Speaker 5: announced that they're going to be basically gave a suggestion
[9:49] Speaker 5: that they'll grow CAPEX next year between twenty and thirty percent.
[9:52] Speaker 5: The street was at ten percent. This is for calendar
[9:54] Speaker 5: twenty seven now, and the stock didn't. It went down
[9:57] Speaker 5: and then it kind of came right back up on that.
[9:59] Speaker 5: It basically ugged it off. Meta does the same thing,
[10:02] Speaker 5: talks about twenty six, a step up in twenty six
[10:04] Speaker 5: and the stocks down seven percent. And so the difference
[10:08] Speaker 5: between those and Microsoft talked about a step up and
[10:10] Speaker 5: spending is in this stock didn't wasn't bothered by it.
[10:15] Speaker 5: I think the issue here is like CAPEX in itself
[10:19] Speaker 5: is not negative. What's the issue is, I think for
[10:22] Speaker 5: many investors is that they just don't see the path
[10:26] Speaker 5: between CAPEX. One last thing. It's a mystery to me
[10:29] Speaker 5: because I don't understand why investors don't give metacredit because
[10:33] Speaker 5: they've shown that they can deliver capex on faster revenue growth.
[10:37] Speaker 6: Stay with us.
[10:38] Speaker 2: More from Bloomberg Intelligence coming up after this.
[10:44] Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live
[10:48] Speaker 1: weekdays at ten am Eastern on Applecarclay and Android Auto
[10:51] Speaker 1: with the Bloomberg Business App. Listen on demand wherever you
[10:54] Speaker 1: get your podcasts, or watch us live on YouTube.
[10:58] Speaker 2: Bencent Piazza Joints to season senior equity research channels. Follow
[11:01] Speaker 2: all this oil and gas stuff. He's here in our
[11:03] Speaker 2: Blueberg Interactive Broker studio.
[11:05] Speaker 7: Fince.
[11:05] Speaker 2: What you learn from Exon and Chevron today.
[11:08] Speaker 7: Well, like you said, you know, price Trump's volume number one,
[11:13] Speaker 7: number two, the rest of the world got punched, and
[11:16] Speaker 7: Exon and Chevron got pinched. And I think you know,
[11:20] Speaker 7: when you think about the integrated model during times of stress,
[11:24] Speaker 7: that's when it works. And I think you'll see similar
[11:29] Speaker 7: for two Q as well. Because you know, one Q
[11:32] Speaker 7: we only had one month of that price inflation. We're
[11:36] Speaker 7: coming into the second month of inflated prices here. So
[11:42] Speaker 7: from an upstream perspective, net benefit to both, even though
[11:47] Speaker 7: the production outages are probably more sustained into two Q,
[11:53] Speaker 7: but overall prices are higher and price Trump's volume. So
[11:57] Speaker 7: for the most part, we're moving toward an environment for
[12:00] Speaker 7: them where at least the upstream component will do well.
[12:04] Speaker 4: And upstream, of course's exploration in production downstream is refining
[12:09] Speaker 4: what was notable to me and looking at the results
[12:11] Speaker 4: is that xcell will was just as challenged as everyone
[12:14] Speaker 4: else and giving guidance because no one knows how long
[12:16] Speaker 4: the street of horm moves will be closed for, and
[12:18] Speaker 4: they really couldn't pinpoint anything.
[12:20] Speaker 7: Can't pinpoint anything, And if you look at prices along
[12:24] Speaker 7: the curve, I'm not really sure the traders really appreciate
[12:27] Speaker 7: it as well, because you know, we're here and we
[12:30] Speaker 7: see that one hundred dollars per barrel. But if you
[12:32] Speaker 7: look at the November and December contracts, there somewhere in
[12:38] Speaker 7: the high seventies, low eighties, and so interestingly, by the
[12:42] Speaker 7: time we get into election season, those contracts will be
[12:45] Speaker 7: the spot contracts, so it'll be very interesting to see
[12:48] Speaker 7: what happens at that point. But for the most part,
[12:50] Speaker 7: if you think about not only excell On and Chevron,
[12:53] Speaker 7: but also the other majors across the globe, you're seeing
[12:56] Speaker 7: the same kind of results where price is trumping a
[12:58] Speaker 7: volume for the most part.
[13:00] Speaker 2: Last events before we let you go, why don't I
[13:02] Speaker 2: just go down to Texas and drill hole? What are
[13:04] Speaker 2: recounts doing? Are the landman's the wildcatters of the world.
[13:07] Speaker 2: Are they taking advantage of one hundred dollars oil?
[13:09] Speaker 7: They are still being disciplined because, as I mentioned to you,
[13:12] Speaker 7: the prices out on the longer end of the curve
[13:15] Speaker 7: are still somewhat subdued, and so you're not really incentivizing
[13:19] Speaker 7: you to drop a lot of capital into the ground.
[13:22] Speaker 7: But more importantly, guys like you investors overall telling the space,
[13:26] Speaker 7: I don't want additional molecules. What I want is distributions,
[13:29] Speaker 7: and that's the process for shareholder engagement, giving them dividends
[13:33] Speaker 7: and the stock buybacks that they need.
[13:36] Speaker 2: Stay with us.
[13:37] Speaker 4: More from Bloomberg Intelligence coming.
[13:39] Speaker 6: Up after this.
[13:43] Speaker 1: You're listening to the Bloomberg Intelligence podcast. Catch us live
[13:46] Speaker 1: weekdays at ten am Eastern on Apple, Coarclay, and Android
[13:49] Speaker 1: Auto with the Bloomberg Business App. Listen on demand wherever
[13:53] Speaker 1: you get your podcasts, or watch us live on YouTube.
[13:57] Speaker 2: Let's switch gears to We've been talking about luxury esday
[14:00] Speaker 2: lawder and you want to talk luxury, there's only one
[14:03] Speaker 2: person to talk to, and that's Debake and Bloomberg Intelligence
[14:05] Speaker 2: Luxury Goods Annaly. She is based in London. She spends
[14:09] Speaker 2: most of her time on the various high streets around
[14:12] Speaker 2: the world at the high luxury dealers there. What would
[14:16] Speaker 2: you learn from from Esday Lauder this reporting period.
[14:20] Speaker 8: Well, it's quite a mixed bag actually, you know, the
[14:24] Speaker 8: share price was off heavily into results here to date.
[14:30] Speaker 8: But what we learned is that the PRGP, the profit
[14:34] Speaker 8: saving program, the way they're adding innovation and.
[14:37] Speaker 6: Flexibility is starting to work for them.
[14:40] Speaker 8: So they've returned to growth on the top line, a
[14:43] Speaker 8: couple of percent constant currency sales growth and then they
[14:48] Speaker 8: got a three percent forex benefit, So that will help
[14:52] Speaker 8: them to really be able to, you know, to invest
[14:56] Speaker 8: more and add to what they're doing on the safe inside.
[15:00] Speaker 8: When we look at the underlying growth, it's all fragrances
[15:05] Speaker 8: and other so skincare, hair care in particular. Skincare is
[15:11] Speaker 8: an issue for them because it's their biggest division. All
[15:14] Speaker 8: those numbers are flat year on you. So it's ten
[15:16] Speaker 8: percent growth in fragrances, not much growth elsewhere, so still
[15:21] Speaker 8: a lot to do.
[15:23] Speaker 6: And what that makes me wonder is how.
[15:26] Speaker 8: Quickly these potential the potential for combining with Pooge, how
[15:33] Speaker 8: quickly that might go ahead, or whether it may be delayed,
[15:36] Speaker 8: or whether it may be off the table. So there's
[15:39] Speaker 8: quite a lot behind these numbers to me when I
[15:41] Speaker 8: dig deep.
[15:42] Speaker 4: So I'm so glad you bring up Poosh because there's
[15:45] Speaker 4: that proposed mergerer with Poosh brands, and they really the
[15:49] Speaker 4: company did not give very many details in the earnings
[15:52] Speaker 4: call about how that's going or how those conversations are going.
[15:56] Speaker 4: Is that a reason to be concerned about whether this
[15:59] Speaker 4: is will actually happen.
[16:01] Speaker 6: No, not at all.
[16:03] Speaker 8: So we had Poosh as well reporting a couple of
[16:05] Speaker 8: days ago.
[16:07] Speaker 6: They were okay as well in what they were doing
[16:10] Speaker 6: in their.
[16:10] Speaker 8: Improvements from what we saw from the prior quarters. But
[16:15] Speaker 8: actually because there's no agreement in place, it's just we've
[16:19] Speaker 8: just been informed from both parties that they're in talks.
[16:24] Speaker 8: It's usual if they don't break earnings because something is
[16:27] Speaker 8: about to happen. Or certainly Poosha's delayed a cup the
[16:30] Speaker 8: market day, but it goes ahead within AGM on the
[16:33] Speaker 8: twenty ninth of May. But it is usual that these
[16:36] Speaker 8: companies would come out and say this is about earnings
[16:39] Speaker 8: and we're not going to give any comment on what
[16:42] Speaker 8: we're doing behind any potential talks.
[16:47] Speaker 2: Yeah, what's the current feel out there in the investor
[16:49] Speaker 2: community about luxury these days? Is what's the driver right
[16:52] Speaker 2: here in terms of sentiment what we're.
[16:55] Speaker 8: Seeing actually as so we picked upon it. The last
[16:57] Speaker 8: couple of quarters, we did some work where we were
[17:00] Speaker 8: starting to see in China the shift from red towards
[17:07] Speaker 8: neutral and then the last couple of quarters towards green,
[17:10] Speaker 8: and we've seen that continue. So it's slow progress, but
[17:13] Speaker 8: we now have the beauty companies also including estill Order
[17:17] Speaker 8: coming through with six percent organic growth in China. So
[17:22] Speaker 8: some repair in travel retail and repairing the premium end
[17:27] Speaker 8: in China coming through, and that is very much across
[17:30] Speaker 8: those premium beauty brands and also the high end of luxury.
[17:35] Speaker 6: That would be the one thing.
[17:36] Speaker 8: The second thing we don't quite see it here though
[17:39] Speaker 8: it is in some of Still Order's brands and not others. Americas,
[17:44] Speaker 8: particularly the US has proven very robust and we're getting
[17:48] Speaker 8: decent growth rates coming through on the luxury side. And
[17:51] Speaker 8: I would in fact say that for twenty twenty six,
[17:54] Speaker 8: given that China is against a decline still versus twenty five,
[18:00] Speaker 8: it's actually Americas and particularly the US that is driving
[18:05] Speaker 8: the growth rate in luxury goods.
[18:07] Speaker 6: So we're kinds of looking at.
[18:08] Speaker 8: This market and the beachy market coming through it around
[18:12] Speaker 8: four to five percent growth, and what we find in
[18:14] Speaker 8: so far is that the Middle East is about one
[18:17] Speaker 8: hundred basis points impact on that growth rate.
[18:21] Speaker 1: This is the Bloomberg Intelligence Podcast, available on Apple, Spotify,
[18:26] Speaker 1: and anywhere else you get your podcasts. Listen live each
[18:30] Speaker 1: weekday ten am to Noone's durn on Bloomberg dot com,
[18:33] Speaker 1: the iHeartRadio app, tune In, and the Bloomberg Business app.
[18:37] Speaker 1: You can also watch us live every weekday on YouTube
[18:41] Speaker 1: and always on the Bloomberg terminal

Shows are listed from Apple Podcasts' charts and directory, and Podcast Index where it is used. Every show and episode belongs to its publisher and plays from the publisher's own feed; this site hosts none of them.