Frontier Group Holdings, Inc.

Hello, everyone. Thank you for joining us and welcome to the Frontier Group Holdings second quarter 2026 earnings conference 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 one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to David Erdman, Senior Director of Investor Relations. David, please go ahead.

Thanks and good morning, everyone. Welcome to our second quarter 2026 earnings call. Joining me this morning in speaking order are Jimmy Dempsey, President and Chief Executive Officer, Bobby Schroeter, Chief Commercial Officer, and Mark Mitchell, Chief Financial Officer. Each will deliver brief prepared remarks and then we'll open the call for questions. Before we begin, however, I will remind you that today's discussion will include forward-looking statements subject to risks and uncertainties, and we will refer to certain non-GAAP financial measures. Reconciliations can be found in the earnings release issued earlier today and on our investor relations website. We also will be referencing stage adjusted unit metrics which are based on a conversion to 1,000 miles. So I'll turn the call over to Jimmy to begin his prepared remarks. Jimmy?

Thanks, David, and good morning, everyone. Our second quarter performance was well ahead of our earlier expectations and marks a meaningful step forward in Frontier's transformation. The progress we've delivered this quarter validates the actions we have taken to strengthen the airline and position the business for sustained profitability. I'm incredibly proud of the focus, urgency, and execution across Team Frontier as we continue advancing the plan we announced in February. Adjusted loss per share narrowed to 10 cents compared to our original guidance range of a loss of 45 to 60 cents per share, with top-line performance the primary factor. We delivered an all-time company record for quarterly revenue, of $1.3 billion, up 38% year-over-year, with RASM up 28%, augmented by strong travel demand, the continued progression of our revenue management initiatives, and a more favourable competitive capacity backdrop. We ended the quarter with liquidity of $1.16 billion, further strengthening our balance sheet and giving us added flexibility as we execute against our transformation priorities. Across the business, the team has been executing with discipline and momentum against the four priorities we set out in February. Right Sizing our Fleet, Strengthening Cost Discipline, Improving Operational Reliability, and Deepening Customer Loyalty. Beginning with Fleet Right Sizing, this work is now largely complete and is creating a more efficient, more productive platform for the future. In the second quarter, we returned all 24 aircraft under the aircraft agreement. Moreover, we are in advanced discussions to early terminate leases associated with 13 A320neo aircraft in the coming months and substantially replace that capacity with direct leases for up to 10 newer, more cost-efficient A321neo aircraft by the first quarter of 2027, facilitating slower capacity growth in Q4 of approximately 7%. On cost discipline, we are seeing clear benefits from the actions we have taken to bring productivity back into the airline and remain on track to deliver $200 million of targeted annual run rate cost savings by 2027. Operational reliability also continued to improve, supported by a system-wide maintenance strategy that is contributing to stronger completion factor and on-time performance. For the first half of the year, Frontier ranked fourth among domestic carriers in completion factor and delivered a controllable completion factor of 99.3%. As demonstrated by today's results, customer loyalty and revenue management are gaining momentum. In late June, we expanded and improved our Barclays co-brand credit card partnership. In addition, and please, we recently announced the fleet-wide rollout of Starlink high-speed Wi-Fi. We expect it to launch in early 2027. The introduction of Wi-Fi in conjunction with first-class seating significantly enhances our onboard experience and it reinforces our overarching commitment to delivering meaningful value to customers while maintaining industry-leading fares. In conclusion, we are focused on strengthening the fundamentals of our business and segmenting our revenue base to meet customer expectations. We have real momentum and I'm confident in the path ahead for Frontier. As noted in our guidance update, we anticipate returning the airline to profitability in the second half of the year. With that, I'll turn the call over to Bobby to walk through the commercial update.