Airline Leader Interview | Velocity Frequent Flyer

Transcript

Oriel Morrison:Now, really lucky to be here today. I'm sure many of you know Nick Rohrlach, the CEO of Velocity, sitting here beside me. Welcome, Nick.

Nick Rohrlach:Thank you.

Oriel Morrison:Pleasure to have you with us.

Nick Rohrlach:Very glad to be here.

Oriel Morrison:Now, you and I had a bit of a conversation on the phone yesterday, and what I was trying to do— so what I was trying to do with Nick was find out a little bit of the stuff that, you know, you don't usually get when you're doing an interview with someone in front of a lot of people. And I think I got a little bit of that. And I told him that I was going to ask him to share that with us today. So you've got a really interesting backstory. So you're CEO of Velocity now, obviously. But it's your history and how you got to where you are today that I think is particularly interesting. And I think the audience here today would love to hear a bit about it. So can you tell us a little bit about that journey? Sure.

Nick Rohrlach:Well, growing up, I grew up in Perth, and my dad and mum used to run small businesses. And both, you know, especially my dad used to travel a lot for work, and we didn't see him very much. But the one thing I could count on every year was that we'd go on a family holiday through his frequent flyer points, go into that little— go into the lounge as a little boy. And, you know, it's such that sort of family experience and memories. Fast forward now 40 years later, And I realise that somewhere out there there's some little boy who's, you know, travelling with his dad on Virgin, you know, flying with us Velocity frequent flyer points, and it's actually quite nice. That's, you know, how I get here today.

Oriel Morrison:You've got that family connection, that family background.

Nick Rohrlach:Exactly.

Oriel Morrison:So what about your career history leading up to the point where you are today?

Nick Rohrlach:Yeah, well, I've been— I've had this great career path, I'm delighted to say. I started off in consulting days working with a number of airlines around the world. Then joined another one of the Australian airlines, shall we say, and spent a number of years there, but actually all in around Asia. So I think this is about my 7th or 8th CAPA event, but actually my first in Australia. Good to be here in Virgin's hometown in Brisbane, but I've only, only been to CAPA events across Asia, which was exciting. So I came back to Australia a couple of years ago, and really great to be back here and obviously be part of Australian aviation coming back to life.

Oriel Morrison:Well, talking about when you came back here, I mean, you came back Almost in the middle of COVID Well, was the middle of COVID Well, literally was, yes. Literally was the middle of COVID when you came back. And you started as the CEO of Velocity at an exceptionally difficult time. How's the journey been? I mean, it's easy to, I suppose, look back because we're now in a situation where we are on the right trajectory. But when you landed, we weren't there and there was almost no end in sight. We didn't know what was going to happen next.

Nick Rohrlach:Yeah, well, I got to land, come in through Singapore Airlines thankfully, and landed in Australia, of course, straight into hotel quarantine. Very surreal experience. To see Sydney from a hotel room. But then coming out, of course, we thought everything was going very well, and then all of a sudden the Delta wave hit. So I joined Virgin, actually it'll be 2 years next week, and yeah, right in the middle of Delta. I've forgotten how many flights we were down to, but I just remember my first sort of, we did some photos for when I arrived, and I walked in, you know, to Sydney Airport, and we only had 2 departures that day. And I stood in front of a plane to take the picture taggings going to Perth. I'm like, wow, you know, how many people are on there? It's only 6. I was like, wow, that's a really low flight, but that was the busiest that had been all week. They'd had a couple of flights with just 1 passenger going to Perth. That's where we all were, and we all remember that 2 years ago. But, you know, good to say that that's now long behind us, and it's really great to watch everyone in the room, you know, building this industry back up again.

Oriel Morrison:So what's it felt like for you over the last 2 years? Starting from that place where there was one person on a flight to Perth to where we are today.

Nick Rohrlach:Look, I think, and you see it even in the data today now, right? I mean, I'm sure we're all looking at sort of where demand is, and, you know, we're seeing that 90% of Australians want to travel in the next 12 months. Australians want to travel. We're a travelling people, whether it be domestically or internationally. And so at the end of the day, the travel demand was always going to come back. How and when was the bit we weren't sure about. But it was just so, you know, if you could just keep your eye focused on the prize, which is that people want to connect. I mean, even here, look in the room. We've had a few virtual events over the last few years and hasn't felt as good. Suddenly this room is absolutely packed on a Friday morning because people want to connect. And so I think, you know, we've all kept our eye on that prize and, you know, it's taken— everyone's had a tough journey to get there, but we're all back as an industry.

Oriel Morrison:Are there long-term changes that you think, you know, when you look at Yes, people do want to connect. We're not back to where we were in, in many, many levels, but we are sort of moving towards that. But are there long-term changes that have occurred since COVID within your industry that you think that we will continue to see, things that perhaps won't get back to what was perceived as normal before?

Nick Rohrlach:Yeah, look, I think, I think there's been a couple of things we've certainly noticed. You know, if you look at leisure versus business demand, I mean, leisure demand is well up on pre-COVID levels because everyone's making up for lost time. And we've seen that that's obviously been a hard thing as an industry to absorb this sudden rush back. But the great thing is that's holding. And as I said, demand is still strong. And, you know, you look at— sorry, travel intent is strong, but also the cost of living is tough at the moment, but people are still prioritizing travel. So you see, you know, I talk to a lot of banks because a lot of our partners are banks, and they can see in their own data that household goods is dropping off, a lot of other things, but travel's staying up, in fact, if not still growing, which is great for us as an industry. But you see really people really prioritising that. On the business side though, you've seen also a shift. Small business travel is really up and really strong. Corporate travel is just not there as much as it used to be. And I think that's, you know, I see it even in our own business and in other businesses where Board meetings now, maybe you only have them in person every quarter. The classic Sydney-Melbourne, Sydney-Brisbane day trip has more or less disappeared for some, but it's overall still, we're at sort of 80% levels. But it's definitely a stronger growth in the leisure side of things, stronger switch to sort of small businesses getting out there and travelling, and corporate travel, I do wonder, will we ever go back to the same level of travel that we did. It just looks different now. The other thing too is you see like Friday mornings can now be our busiest day of the week because there's a lot of people who might have got another home or they've built their lifestyle around, well, I work remotely on a Friday, so if I've got a weekend somewhere, I can go away a day earlier and do that remotely. So, you know, just trends are changing.

Oriel Morrison:So with the business trends that you said that you're noticing, you expect that to continue?

Nick Rohrlach:So you don't actually think that we're on the corporate travel side Yeah, I mean, look, I think we have to be realistic that, as I said, the day trip, just going down for just a meeting, might be different now. You see the average duration of a trip now is 2 or 3 days, whereas it used to be 1 point something for, for on the triangle business traffic, because people are now going saying, well, look, I'm going to go down more intentionally rather than just a meeting. I'm going to build a whole itinerary around it, come for 2 or 3 days, make it a proper sort of session and then, and then come back. Probably good for the hotels and that sort of stuff, but you know, it's just a different style.

Oriel Morrison:Just different. What do you think is driving that? I mean, when you're talking to the people that you talk to within the industry, is this a cost issue from your perspective? Is this a sustainability issue? I mean, this is something obviously that we've started talking about much more now really than ever before. Are people making that decision based on trying to be a little bit sustainable, reducing their carbon footprint, as opposed to going down one day here and one day there, trying to, I guess, cluster those trips into one place?

Nick Rohrlach:Look, I think it's probably all of those trends, and it depends on who you speak to, you'll get a different read on those sort of things. But as I said, my overall take is that people are just a little bit more intentional about how they travel, whether that's sustainable intention or cost intention. But just more generally, like, if I'm going to go— like, I can do that meeting over Zoom, So if I'm going to go, I'm going to make a real thing out of it. I'm going to have a dinner as well. I'm going to build a whole itinerary. I think people have just gotten more intentional.

Oriel Morrison:So you obviously are the CEO of Velocity, a frequent flyer program. I was talking to a few different people about frequent flyer programs at the dinner last night, some of who had a drink or two, I should say. Now, the feeling was positive, but not overly so when it comes to frequent flyer programs. In fact, one person said to me, and again, this particular person had had a couple of drinks, that it could be likened to a Ponzi scheme. Now, talk yourself out of that one.

Nick Rohrlach:Okay, no worries.

Oriel Morrison:You haven't had any drinks, so you're already on the right track.

Nick Rohrlach:You don't know that, but let's assume I haven't.

Oriel Morrison:Yeah, that's true. I don't know that. There could be vodka in that glass.

Nick Rohrlach:No, well, look, the great thing is I'm, you know, we're in the business of free travel. Right, and look, with cost of living where it is at the moment, that's never been more important. We're really proud at Virgin and Velocity, we have the best availability in the market, so when people earn points, they can be very sure to be able to use them across our network. We have great partners. I've seen, already met Air Canada, I know a few others are in the room, so Singapore Airlines, United, Qatar, great series of airlines and who have also got a huge network in and out of Australia. I booked a holiday in a couple of weeks' time and, you know, there was Singapore Airlines business class seats are available. So I know some people are a little bit upset or sort of feel like— and there'll always be more demand than seats available, that's true. But, um, you know, I'd push back strongly on the Ponzi scheme because the great thing is, is that every week thousands of people are traveling on frequent flyer points, obviously earning lots more, but even, even just redeeming those, getting out there and making trips, you know, to, to destinations, bringing their families along with them. Or as I said before, there's a little boy out there somewhere who's doing his once-a-year family trip and the parents didn't need to pay for it. So I'm delighted with what we do, it's really exciting.

Oriel Morrison:Things have changed quite a lot since then, since your father and your mother were working and gaining points and you guys were using them for family holidays.

Nick Rohrlach:Yeah, now I fly them on my points. Yeah, there you go, that's the biggest change.

Oriel Morrison:I'm sure they're very grateful for that too. But when it comes to When it comes to Velocity, what are the biggest changes that you're making to, I suppose, stay ahead of the curve? You know, when it comes to sustainability, we've touched on that. When it comes to technology, when it comes to the way that these, the whole system works, what are the biggest changes that we can expect to see over the next sort of 3 to 5 years?

Nick Rohrlach:Yeah, well, I mean, the first thing, obviously, as I said, we've reborn ourselves over the last couple of years. So for example, bringing on United, our new partner to the US, Qatar, a new partner to Europe. It's just great to have all of our existing partners plus these new partners as well. So we're trying to grow the opportunities to earn and redeem points. And that's not just on the air side of things. We've also got, for example, Myer. Now you can use your points to get Myer items. And that's particularly helpful with Christmas coming up, those sort of things. So we're continuing to grow the opportunity to earn and use points. But then as a business then too, I mean Virgin, the great thing is this brand is you get to have a bit of fun, you get to do things a little bit differently. And so over the last couple of years to sort of come back differently, we've done a few things. So a couple of examples, the first was the middle seat lottery. So if you, for anyone who doesn't know, if you travel on Virgin and you're in the middle seat, which is not everyone's best seat on the plane, shall we say, but we tried to make that wonderful, right? As part of our whole positioning is to say, look, you can have great experience on our aircraft no matter what seat you sit in. And that was a great innovation. We got a lot of people sort of enter that. They also, you know, you had to be a Velocity member to join, so that was very helpful for my business too. But just reminding people that there's a joy of travel no matter where you sit on the plane. And people won, you know, free— the first couple who won got a free cruise to the US. They didn't even have a passport. And so it's just, again, travel makes things possible for people. And then the other thing we've done recently too, you know, we Actually, you asked about how schemes go, but we've just reduced our pricing in terms of making it even more affordable to redeem your points on domestic trips. And to send that message, we've just started One Point Rewards. We set up a kiosk, or a pop-up store, should I say, on Chapel Street in Melbourne, and we had 1,300 people queued out the door to try and get a chance of having a One Point Reward. Part of this, we're just trying to do things differently, shake it up a bit, have a bit of fun, because people expect it when they see the Virgin name. But it's also about reminding people that there's great value.

Oriel Morrison:That's a couple of very, very interesting and very clever marketing tools that you're using there for Velocity. I'm particularly interested in the middle seat lottery. Is that ongoing? I'm struggling to find fun in the middle seat, I have to say.

Nick Rohrlach:Oh, come on. Well, no, it's just finished now, and then we're going to see what we're going to do as the thing. We ran that for 6 months, in fact actually extended to 9 months because it was so popular, and we'll see what the 2.0 version looks like.

Oriel Morrison:So what's next on the marketing side of things?

Nick Rohrlach:Oh look, again Virgin is a company that likes to have a bit of fun, so it's actually cool, and in a few weeks' time we'll have Virgin Voyages is moving to Australia, so their 3rd boat will be based in Melbourne and giving people, again I know a number of the travel agents in the room are helping sell their packages as as well. So the Virgin brand is trying to grow here in Australia. And so you'll see us continue to do things different, like bring wonderful in various different forms. From a Velocity perspective, we're really keen, as I said, to keep growing the earn redemption options. So stand by for a few others. Luxury Escapes has just joined. I don't think they're here today, but great to have them on board now. And we see, again, our first redemption there came actually whilst we were still testing the system, doing the final test before the launch. Someone who'd only joined the program 9 months ago, sorry, joined Velocity 9 months ago, they'd taken I think 6 flights with us and so they just had a few points there, but they used that to be $100 off their Luxury Escapes package. And so that's really our focus, especially at this sort of time when people, you know, have real cost of living issues, doing it tough, yeah. So we can just bring value all throughout that, you know, so you can still go on that holiday but get $100 off instantly.

Oriel Morrison:Who are you targeting with your marketing campaign? Like, who are you targeting?

Nick Rohrlach:Look, as part of Virgin's rebirth, we were very clear, and we've said this very openly, you know, gone are the days when we were trying to target the absolute top end of town. We're really concentrated on people who are seeking a great experience at a good value price. And so that's value-seeking corporates. You know, you look, a lot of our customers have, you know, know, they've got certain travel budgets and they want to stretch those further. And, you know, we have fares that are 30% better value than our competitor on the triangle and that sort of stuff. So as a business option, it's a great option. Small businesses is a big part of that, and we've also relaunched our loyalty program, Virgin Australia Business Flyer. So we've got a small business loyalty program now as well. And then of course premium leisure customers. So, you know, whether that be the family holiday where you just want sort of a more hassle-free experience, or you fly for work and you want to take your family into the lounge on that family trip, that sort of premium leisure. We're not an ultra-low-cost carrier, and I know Bonza's in the room here too. It's great to see a broad ecosystem, but we're very focused on that sort of part of the market as we grow. And of course, Velocity supports that as well.

Oriel Morrison:What about technology? I mean, there's so much incredible innovation when it comes to the use of AI in particular and machine learning and all of those sorts of things. How do you use that within to help your marketing plans, plans, I suppose, moving forward and the types of marketing that you're doing at the moment. But also, what can we expect in terms of the system changes and upgrades and all of those sorts of things within the Velocity network?

Nick Rohrlach:Yep, yep. Well, again, it's great to see over the last couple of years, one of the things we did very intentionally out of our— during the administration process is we invested in tech first. And it's a bit easier to invest that when, when the operations are a bit lower too, admittedly. So we really tried to take advantage. I saw Lance from Amadeus here. We cut over our loyalty system over the last couple of years and putting those long-term things. But customers will really see some of the more sort of more innovative things we're doing. So we're proud to be the first airline that's launched baggage tracing here in Australia. So now when you're flying us, starting here on the Triangle, and it'll be the rest of the network very soon, you can get a message on your app to say, yep, your bag's on the plane. And then when you land, hey, your bag's there, it'll be on carousel 3. Just giving people that peace of mind that I'm on the plane, but so is my bag. And, you know, we've got the lowest, lowest bag loss bags of any airline here. It's great to see that. But so that technology helped us make sure we found all the bags and get it and turn the aircraft around faster, but also gives that customer the benefit. And so that's what we're really focused on, stuff like that, where you have both, you know, it helps us operate better, us operate more cost-effectively, but it's also value to the customer. That's the holy grail.

Oriel Morrison:Have you had many, many flyers come to you and say— well, not you personally obviously, but your team come to you and say, why is my bag on the way to Sydney when I'm travelling to Darwin?

Nick Rohrlach:Well, the great thing is, as I said, we have the lowest lost bag rates in the industry, so I don't think that conversation happens very much. I haven't heard one like that, but it wouldn't happen very much.

Oriel Morrison:Right, okay. So we were talking earlier, Nick, about I suppose the balance within the market. Obviously when you look at the Australian market as a whole, Qantas is sitting at around the 60% mark. I think Virgin's at around 33%, other airlines with the remainder. When it comes to the frequent flyer programs, how does it feel from the inside as being a competitor of Qantas when it does have such a large market share?

Nick Rohrlach:Look, the good thing is, is again we've got the Virgin brand here. We get to, we get to have do things a bit differently. And have a bit of fun with things. But look, it's been great to see, as I said, how quickly things have come back over the last couple of years. So we're back now to the number of active members, we've just hit 11.6 million overall members, and then in that, the people who are actively earning every month is now up on pre-COVID levels. And last week we had, for example, our biggest ever new signups. Don't know why, maybe people wanted to switch, which is great. And, you know, just the biggest number we've seen— How high have they been? I don't know, wouldn't have a clue. But it's just great to see things, you know, coming back, but also as I said, us now getting sort of new growth beyond that as well. So that's just a lot of fun to see the numbers every week.

Oriel Morrison:You just alluded to obviously one of the situations that's happening in the travel industry at the moment, a bit of an elephant in the room we have to say. There was one person from Qantas the dinner last night, actually ended up sitting beside me. Really interesting pilot. But how does that feel from your perspective in terms of the changes that we may see within the industry as a result of all of the negative press that is happening at the moment surrounding Qantas? I mean, if we address the elephant in the room, what does that mean for the industry from your perspective?

Nick Rohrlach:Look, I think all of us need to look in this and say, okay, what are the core issues here too, right? We're all in the business of helping people get from A to B or get to their destination stuff. And so working together, I know airports are in here as well, us as the airlines, we've all got to work together to solve some of, you know, there's air traffic control issues, there's, you know, airports are busier than they've ever been, that sort of stuff. So we've got to work together there. Obviously, again, lots of travel agencies in the room too. We've got it when something doesn't go to plan, how do we communicate with customers? It's still a pain point. I had someone message yesterday and they had booked through a travel agency and then were very upset that our call centre couldn't help them. It's like, well, yeah, because actually the call— you booked through a travel agency, the travel agency would feel like we're stealing the business if our call centre speaks. Those sort of things. We're trying to smooth that out. And the best way is through us all investing continuously in technology. So in a disruption situation now, our rebooking tool is pops up in the app, you can pick your different flights, that sort of stuff. That's just helping the customers. So the more that we can work together as an industry, we can, we can make that travel experience as good as possible. And look, coming out of the— obviously there'll be some important inquiries, important Senate inquiries, and important questions will be asked, I'm sure. But just continuing to make sure that our North Star is always make sure that we're giving the best experience to the customers, and then, you know, even the frequent flyer side of things too, making sure that the, you know, the reality also hits, matches the packaging. That's what we're really focused on, what we do, what we promise, and then I think that'll all carry us through because the problems only come when you don't do what you promised.

Oriel Morrison:Good. You just mentioned the Senate inquiry, and obviously there is one into the Qatar situation, one of your new partners. How does that impact you as Velocity?

Nick Rohrlach:Well, look, as I said, yeah, Qatar joined us a couple of years ago. We're just Delighted to have them part of our program. They are a fantastic partner. You know, we've got 3 of the top 3 rated Skytrax airlines now in the program. Qatar is one of those, very popular option to earn points on, and then they've been great with seat availability for our members as well. So it would be good to see as much capacity as possible from them in the future.

Oriel Morrison:Okay, all right, so when you look at the industry as a whole, where do you feel like from where you're sitting today and what you've seen and the trends that we've been talking about earlier on over the last couple of years, where in your view is the major growth going to come from?

Nick Rohrlach:Yeah, look, I mean, I think all of us probably, no matter which part of this industry we're in, probably the thing that binds us together is it's a very optimistic industry. Everyone always talks about growth and it's, you know, even after what we've been through the last few years, we're always looking forward and seeing that, which is great. I mean, I think, look, domestically there's still going to be healthy growth, right? see Bonzers obviously shaking things up in regional Australia. We're going to continue to grow our network in Australia, but then also short haul as well. I'm really hopeful that too, that all of our international capacity, you know, certainly from our partners and from others, keep growing as well too, because that'll bring more tourism into Australia. You know, outbound is quite strong, but we still need a little bit more inbound, and that's what, you know, helps, you know, pay for the new airports. That's what helps pay for expansion with our tourism facilities. helps everyone in here make some money too. So I think it's across the board. And, but, you know, the next couple of years will be tougher with sort of where cost of living is and that sort of stuff. So if we can all work together, as I say, to reduce costs together, that'll help us grow the industry because we keep giving people good value.

Oriel Morrison:So where are the pain points then going forward if you were to get your crystal ball out and have a look over the next little while? I mean, obviously the of living, as you've just pointed to. There were discussions yesterday, of course, about the price of fuel as well being another pain point. When you look out, there is still a risk of a global economic recession. I mean, we can't put that away yet. If you were to describe your outlook for the next 12 months or so, what are you particularly concerned about?

Nick Rohrlach:I think, as I said, we've all got to work together to keep costs moderate, right? It's hard in an inflationary environment. We've all got our cost pressures, but the the more that we can either reduce waste in the system, and that's whether it be in the way we sell together or the way we operate in the airports, that sort of stuff. If we can all work together to keep costs manageable, ultimately that means that there'll be lower ticket prices to customers, which means they'll be able to keep travelling even with cost of living pressures. So that will be our biggest thing over the next 12 months. Probably it'll always be our biggest thing, but just particularly at the moment, making sure that, you know, costs are well managed, we're as efficient as possible, keep investing in the technology to further reduce costs. That's very much our focus as an airline.

Oriel Morrison:Where do you see flight costs then headed? You know, based on the fact that you're focused on keeping costs low, we're still seeing very high prices for flights. Where do you see them going in the near term?

Nick Rohrlach:Yeah, look, if you go look over the last few years, inflation across Australia, you know, the last 3 years, Effectively, the cost of everything has gone up by 15%. The cost of air tickets, I think some surveys say it's only 10%, right? So as an industry, like, others are contributing more to the cost of living more than we are. Like, as an industry, we're actually— yes, ticket prices are up, and so maybe some airlines it's up even more than that, but as an industry, we're actually still giving great value to customers. So I think, you know, ticket prices— look, capacity is always important as part of that. But we're going to continue to grow and, you know, we've got a lot of new aircraft coming at the moment as well too. We'll keep putting more capacity. I know the airports in the room are really keen to keep growing as well too. So as an industry, the more capacity we can put out there, of course that will mean that the prices will continue to be very good value for customers.

Oriel Morrison:How does that relate to— explain to us in the room how that relates to your frequent flyer points.

Nick Rohrlach:Yes.

Oriel Morrison:The cost of flights.

Nick Rohrlach:Yeah, well, that's— I mentioned before, so one of the things I'm really proud we did earlier this year is just to keep reminding people, you know, we stand for value. We want to stand for value as an airline and we want to stand for value as Velocity, the frequent flyer program of the airline as well. And so we actually, as I said, we dropped our redemption prices. So we were better, but we're now even better. So it's just 6,200 points for a short-haul flight in Australia. And so that helps us get people travelling more. Less points, quicker to fly, then quicker to reward. So we'll keep doing that as much as we can because we do want to stimulate more travel and remind people that it's a great value option.

Oriel Morrison:So there will be lower, even lower cost flights in terms of the points that you're—

Nick Rohrlach:Look, I'm not sure if we can go too much lower than 6,200 points, but I've talked to the airline if they could just discount to me, that'd be great. But no, I mean, that we've really— that's not a promotion, that's a permanent decrease and we'll keep pushing that. And of course we run promotions on top of that as well. So we'll keep going. Again, we stand for value, so you'll see more in terms of better value going forward.

Oriel Morrison:So again, just a quick look on the inside before I let you go. How closely do you work with the management team of Virgin to actually structure what you're doing at Velocity?

Nick Rohrlach:Yeah, we— well, I'm part of the Virgin Australia leadership team, so I work for Jane and work with a lot of my colleagues there. So I'm based in Sydney, but we're based here in Brisbane, so I'm up here every Wednesday for that. And look, we're very united. We had a period of time in our history where we were actually quite separate, but we're very united around this single value mission together. And we've got a few exciting things coming where we really make sure that we're going to realign how Virgin Australia's recognising our members and how we're supporting them in that. So we're constantly trying to rework that and improve that.

Oriel Morrison:So no plans to be quite separate again?

Nick Rohrlach:No, absolutely not. No, no, it's— we are, you know, Velocity Frequent Flyer, like it's literally in the name.

Oriel Morrison:Yes.

Nick Rohrlach:And we really want to make sure we keep rewarding our flyers.

Oriel Morrison:Yeah. All right, excellent. Nick, thank you so much for sitting on the couch with me today.

Nick Rohrlach:Thank you very much.

Oriel Morrison:Can I please get a warm round of applause for Nick Rohrlach?

Nick Rohrlach:Thanks so much.

Oriel Morrison:Cheers. Thank you.

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