eLong, Inc. (LONG) Q2 2010 Earnings Call Transcript August 16, 2010 8:00 pm ET Executives Guangfu Cui – CEO Mike Doyle – CFO Analysts Eddie Leung – Banc of America/Merrill Lynch Fawne Jiang – Brean Murray Nan Li [ph] – SIG Question-and-Answer SessionOperator
Thank you. At this time, we will open the floor for questions. (Operator Instructions). Our first question will be coming from the line of Eddie Leung from Banc of America/Merrill Lynch. Please go ahead. Eddie Leung – Banc of America/Merrill Lynch Hi, good morning, Mike and Guangfu. A couple of questions. The first one is regarding your air business. Could you share with us more color about the commission rate cuts you mentioned in the call and how should we think about this issue going forward? And a couple of related questions. Could you also talk about your air ticket volume outlook and the reason – in the second quarter, it seems like the air ticket volume on a sequential basis did not grow rapidly, even given a strong travel industry. So that would be my two questions. Thanks. Guangfu Cui Eddie, this is Guangfu. I will take your questions and maybe Mike can add something later. I'll just take a step back and to give a broader answer, we are closely monitoring the airline commission environment. We have met with the higher level officers in sales and marketing department of each of the big three Chinese airlines to better understand their intentions and to reaffirm our commitment to providing our airline partners value from our expanding distribution to customer base.