Frontier Group Holdings, Inc.

Good day and thank you for standing by. Welcome to the Frontier Group Holdings Q1 2021 earnings 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 the session, you will need to press star 11 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 11 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, David Erdmann, Senior Director, Investor Relations. Please go ahead.

Thank you, and good afternoon, and welcome to our first quarter 2025 earnings call. On the call with me in speaking order are Barry Biffle, Chief Executive Officer, Jimmy Dempsey, President, Bobby Schroeder, Chief Commercial Officer, and Mark Mitchell, Chief Financial Officer. Each will deliver brief prepared remarks, but before they do, I'll recite 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, along with reports we filed 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 the earnings announcement. I'll now yield the floor to Barry to begin his prepared remarks. Barry?

Thanks, David, and good afternoon, everyone. Our results for the quarter were lower than original expectations due to a disruption to travel demand and market. This sudden change in demand was driven by the macro uncertainty that's been widely reported, and it led to aggressive pricing and promotions across the industry. We experienced an outsized impact given the domestic leisure concentration of our business. However, current booking trends suggest demand for May and early summer travel has stabilized, supported by our recent revenue and network enhancements and capacity optimization. Further, planned capacity moderation across the industry is constructive. In this environment, we're focused on the elements of our business that are within our control, primarily capacity and management of our costs and capital expenditures, while continuing to provide our customers with what we believe is the best overall value in air travel. Jimmy and Bobby will discuss our commercial initiatives in more detail during their prepared remarks. We've significantly reduced capacity through our mid-November selling schedule, with the adjustments focused on the off-peak days of week. We expect capacity to be down low single digits in the second quarter and a similar reduction in the second half of the year based on current conditions. Capacity reductions are expected to reduce cost and capital expenditures by over $300 million combined compared to previous expectations. Mark will provide context in his remarks. Accordingly, we're targeting profitability in the second half of the year based on a stabilized demand outlook supplemented with our self-help measures in moderating industry capacity. Before concluding, I'd like to thank Team Frontier for all their contributions during the quarter and for remaining focused on our top priority of delivering a safe and reliable experience to our customers. I'll now turn the call over to Jimmy for a commercial overview. Jimmy?