Republic Airways Holdings Inc.

Hello everyone. Thank you for joining us and welcome to the Republic Airways second quarter 2026 earnings call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star 1 to raise your hand. To withdraw your question, press star 1 again. I will now hand the conference over to Kiwi Mitchell, Corporate Controller. Kiwi, please go ahead.

Thank you, Kenneth, and thank you everyone for joining our earnings call. On with me today are Matt Koscal, President and Chief Executive Officer, and Joe Allman, Executive Vice President and Chief Financial Officer. In the investor relations section of our website, you will find the earnings press release and slide presentation to accompany today's discussion. This call is being recorded and will be available for replay on our investor relations website. Today's discussion will include forward-looking statements regarding Republic Airways' future performance, strategic initiatives, and market outlook. These statements reflect our current expectations and beliefs based on information available to us today. But they are subject to various risks and uncertainties that could cause actual results to differ materially from our projections. The aviation industry operates in a dynamic environment with inherent risks including regulatory changes, economic fluctuations, weather-related disruptions, and evolving market conditions that can significantly impact our operations and financial performance Additionally, our business is subject to the operational and financial health of our major airline partners, labor market conditions, aircraft availability, and other factors beyond Republic's direct control. For a comprehensive understanding of the specific risks and uncertainties that may affect our business and financial results, I encourage all participants to review our detailed disclosures in our filings with the Securities and Exchange Commission. including our Form 10-K on file with the SEC and subsequent periodic reports. These documents provide important context and detailed information that supplement today's discussion and are or will be available on both the SEC's website and in the investor relations section of our company website at rjet.com. Additionally, throughout this webcast, we will also present and discuss non-GAAP financial measures. Reconciliations of our non-GAAP financial measures to their most directly comparable U.S. GAAP financial measure, to the extent they are available without unreasonable effort, appear in today's earnings press release and accompanying presentation, which are available on our investor relations website. And now I will turn the call over to Matt.

Thank you, Keely, and good morning, everyone. Before I turn to results, Let me briefly acknowledge where we are as a leadership team. As you know, I stepped into the CEO role last month when David Grizzle returned to his role as non-executive chairman. I'm grateful for David's continued partnership on the board and for the confidence the board and our associates have placed in this team. My focus and this team's focus is exactly where it has been, investing in our people to maintain a culture of excellence focused on safe, reliable flying and the disciplined execution of our integration and growth strategy. Earlier this morning, we reported second quarter adjusted net income of $41 million, or 89 cents per diluted share. Demand from our partners remained strong throughout the quarter. We saw increase in scheduled block hour utilization of approximately 2% and much better weather for most of the quarter. resulting in an increased completion factor of 98% up from just under 94% in the first quarter. Together, those factors drove block hour production up nearly 7% sequentially over Q1. These results are the hard work and dedication of our frontline crew and technicians who ensure we deliver safe, reliable flying every single day and the teams working around the clock behind the scenes. our crew schedulers, dispatchers, and maintenance controllers, and many others support our operation 24-7, and none of what we accomplish on the line happens without them. Together, our Republic and Mesa associates delivered 85 days of perfect controllable completion factor and an overall 99.99% controllable completion factor on nearly 120,000 completed flights during the quarter. That is a standard of excellence that sets us apart in this industry, and it's by design. To all 8,500 of our Republic and Mesa associates, thank you for an outstanding quarter and for delivering on our mission. Now let me turn to the integration of Mesa and Republic. I'm pleased to report that we remain ahead of schedule, and this quarter delivered a significant milestone. We received FAA acceptance and approval on the first of five revision cycles, the step that harmonizes our safety management systems across both airlines. That progress runs across all four of our core work streams, back office consolidation, IT systems integration, maintenance and fleet harmonization, and our path toward a single operating certificate. each led by our integration office touching every department in the company. We anticipate filing revision cycle two, which covers the pre-flight procedures and activities during the third quarter. The remaining revision cycles are scheduled for completion throughout 2027 and into early 2028. We continue to make substantial progress on NASA's fleet health and maintenance harmonization. We continue to see reduced heavy check footprint and improved turnaround times, which will support better aircraft availability in the back half of 2027 and beyond. And finally, during the third quarter, we anticipate moving Mesa's Network and Operations Center to our aviation campus here in Carmel, Indiana. This represents an important milestone in further aligning the cultures of our two airlines. I know change can be difficult, and I want to thank our integration office and the broader team for their leadership and commitment through this transition. Let me turn for a moment to labor. We've reached some meaningful milestones. We are actively implementing the Flight Attendant Joint Collective Bargaining Agreement or JCBA that was ratified earlier this year. And I'm pleased to say several important provisions are now live for our flight attendants, including the introduction of boarding pay earlier this month. These are real, tangible improvements for our flight attendants who care for our passengers every day. With respect to our pilots, we continue to actively negotiate with the IDT and Alpha teams, and I want to thank both unions for their continued engagement, and we will provide further updates as meaningful progress is achieved. In May, Republic's Mechanic Associates elected IBT as their bargaining representative. We are still early in the stages here and look forward to engaging constructively with our mechanics and their representatives as that process moves forward. Now let me turn the call over to Joe to review the financial highlights for the quarter, and then I'll come back to provide an update on guidance. Joe?