Frontier Group Holdings, Inc.

and thank you for standing by. Welcome to the Frontier Group Holdings, Inc. Third Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you will need to press star 1-1 on your telephone. You will then hear an automated message advising you that your hand is raised. To withdraw your question, please press star 1-1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, David Erdman, Senior Director, Investor Relations. Please go ahead.

Thank you. Good morning, everyone, and welcome to our third quarter 2023 earnings call. On October 19th, we announced changes to our management team, and so I'm pleased to introduce today's speakers and their new roles. With me are Barry Biffle, Chief Executive Officer, Jimmy Dempsey, President, and Mark Mitchell, Chief Financial Officer. Each will deliver brief prepared remarks, and then we'll get to your questions. But first, let me quickly review the customary Safe Harbor provisions. During this call, we will be making forward-looking statements which are subject to risks and uncertainties. Actual results may differ materially from those predicted in these forward-looking statements. Additional information concerning risk factors which could cause such differences are outlined in the announcement we released earlier this morning, along with reports we filed with the Securities and Exchange Commission. We will also discuss non-GAAP financial measures which are reconciled to the nearest comparable GAAP measure in the appendix of the earnings announcement. And so I'll give the floor to Barry to begin his prepared remarks. Barry?

Thank you, David, and good morning, everyone. I first want to recap the recent changes to our senior leadership team, including the promotion of Jimmy Dempsey to president and Mark Mitchell to CFO. Jimmy will now oversee commercial, customer care, and operations research design and planning functions, and Mark will assume Jimmy's former role. Jimmy and Mark have been invaluable members of Frontier's senior leadership team over the years, and I'm excited about their contributions going forward. We also welcome Rajat Khanna to Frontier as our chief information officer, and Matt Sachs as our new treasurer. Rajat has extensive experience, including IT leadership roles at the Lowe's companies and at United Airlines, and Matt comes to us with significant cross-functional experience at Airbus. Please join me in welcoming Rajat and Matt to Frontier and congratulating Jimmy and Mark on their promotions. Frontier has a deep bench of executive talent and we're well positioned to help guide the growth of our airline into the future. Our third quarter results reflect a pre-tax loss of 5% with non-fuel operating expenses at the low end of our guidance as we continued our rigorous focus on cost management. The quarter was impacted by elevated fuel prices, uneven demand recovery, and uneven industry domestic capacity deployment, as well as increased flight cancellations from weather and other operating challenges. Additionally, we observed softer-than-expected demand in the off-peak periods in the quarter. Looking into the fourth quarter, stage-adjusted non-fuel unit costs are expected to sequentially improve. We've also seen booking volume stabilize, driven by low fare stimulation, albeit at higher fuel prices. Into 24, we believe demand patterns will normalize and industry capacity growth will moderate and rebalance across geographies. We believe unit cost leadership will be fundamental to long-term success, and we expect Frontier will be the lowest cost provider of a seat in the United States for years to come. Further, operating a high utilization, highly reliable airline will be important to our success and long-term growth, as well as delivering a low cost and rewarding customer experience. I'll turn the call over to Jimmy to elaborate on our plan to dramatically simplify our operating model to align with the ULCC best practices and to fuel the next stage of Frontier's scalable growth. Jimmy?