Travel & mobility companies, explained.

Airbnb runs a global marketplace where hosts list homes, experiences and services and guests book them, with Airbnb earning a service fee on each booking.

Alibaba runs Taobao, Tmall, AliExpress and other marketplaces, delivery and logistics, and Alibaba Cloud, and is building AI models and apps on top.

Booking Holdings runs the world's biggest online travel booking sites, led by Booking.com, and earns a commission when travelers book stays, flights and cars through them.

Cabify is a multi-mobility platform connecting users with private drivers, taxis, and alternative urban transport in Spain and Latin America.

Delta is a large U.S. network airline that flies passengers and cargo worldwide and earns extra from premium cabins, miles sold to American Express, and its own refinery and engine repair business.

DoorDash runs delivery marketplaces under the DoorDash, Wolt and Deliveroo brands that connect local merchants, consumers and couriers, earning fees on each order, memberships and ads.

easyJet is a European low-fare airline flying Airbus jets from main city airports, earning from tickets, extras like bags and seats, and package holidays sold with its flights.

The Emirates Group is Dubai's state-owned aviation company, combining the Emirates airline, which flew 53.2 million passengers on 277 wide-body aircraft, with dnata, which handles aircraft, cargo, catering and travel for airlines in 37 countries.

Expedia Group runs an online travel marketplace of consumer brands such as Expedia, Hotels.com and Vrbo and sells its travel supply and technology to business partners, earning a share of each booking.

Hilton franchises and manages hotels from Waldorf Astoria to Hampton, earning fees on room revenue while hotel owners fund the buildings, and it keeps guests coming back through Hilton Honors.

IHG franchises and manages hotels from InterContinental to Holiday Inn Express, earning fees on rooms revenue while hotel owners fund the buildings and a shared fund pays for marketing, reservations and loyalty.

InPost operates a leading European parcel delivery and locker network focused on enabling e-commerce logistics.

Lufthansa Group is Europe's largest airline group by network, flying passengers and cargo under Lufthansa, SWISS, Austrian, Brussels and Eurowings and repairing aircraft through Lufthansa Technik.

Marriott licenses its hotel brands and runs hotels for owners, earning fees on room revenue and from its Bonvoy loyalty program and co-branded credit cards, while owning almost none of the buildings.

Ryanair is Europe's largest airline group, selling very cheap seats on short point-to-point flights and earning extra from add-ons like bags, seats and onboard sales.

Uber runs an app platform that connects riders, eaters and shippers with independent drivers, couriers and carriers, keeping a fee on every ride, delivery and freight load.

Wizz Air is a leading European ultra-low-cost airline focusing on passenger travel and ancillary services.