Frontier Group Holdings, Inc.

Good day and thank you for standing by. Welcome to the Frontier Group Holdings Inc. Q4 and full year 2024 earnings call. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. After the speaker's presentation, there will be a question and answer session. To ask a question, please press star 1-1 on your telephone and wait for your name to be announced. To withdraw your question, please press star 1-1 again. I would now like to hand the conference over to your speaker today, David Erdmann, Senior Director, Investor Relations.

Thank you and good morning. Welcome to our fourth quarter and full year 2024 earnings call. On the call this morning are Barry Biffle, Chief Executive Officer, Jimmy Dempsey, President, Mark Mitchell, Chief Financial Officer, and Bobby Schroeder, Chief Commercial Officer. Each will deliver brief prepared remarks, but before they do, let me recite the customary Safe Harbor provisions. During the 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, along with reports we file with the Securities and Exchange Commission. We will also discuss non-GAAP financial measures, actual results of which are reconciled to the nearest comparable GAAP measure in the appendix of this earnings announcement. I'll now yield the floor to Barry to begin his prepared remarks. Barry?

Thanks, David, and good morning, everyone. Our fourth quarter results demonstrate the momentum of our commercial initiatives, placing us on a trajectory for meaningful RASM growth and margin expansion this year, including our target of double-digit pre-tax margins in the summer. Our fourth quarter adjusted pre-tax margin was 5.1%, significantly higher than the original guidance, resulting from the culmination of our revenue and network optimization initiatives and our longstanding commitment to cost discipline. I'd like to thank Team Frontier for their contributions to achieving solid margins in the quarter and for our operational performance during the busy holiday travel season. While operating our busiest ever schedule in December, Frontier ranked second among US carriers in completion factor. We expect our industry leading costs combined with our continued progress on our commercial initiatives will support significant margin expansion in 2025. Our cost advantage expanded to 48% in 2024 compared to 41% in 2023, and just 39% in 2019. And we will continue to leverage this advantage to stimulate demand and generate profitable growth. I'll now turn the call over to Jimmy for a commercial review. Jimmy?