Frontier Group Holdings, Inc.

Hello, everyone. Thank you for joining us and welcome to Frontier Group Holdings Q3 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 David Erdman, Senior Director of Investor Relations. David, please go ahead.

Thank you and good morning. Welcome to our Frontier Group Holdings third quarter 2026 earnings call. Joining me today in speaking order are Jimmy Dempsey, President, 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. However, before we begin, I'll remind you that today's discussion will include forward-looking statements subject to risks and uncertainties, and we will be referring to certain non-GAAP financial measures during the call. Reconciliations can be found in the earnings release issued earlier today and on our investor relations website. We'll also be referencing stage-adjusted unit metrics, which are based on a conversion to 1,000 miles. So I'll give the call over to Jimmy to begin his prepared remarks. Jimmy?

Thanks, David, and good morning, everyone. Our third quarter results represent another meaningful step forward in Frontier's transformation. The team delivered record revenue, exceptional unit revenue performance, and adjusted profitability in a high fuel price environment. This performance demonstrates that the changes we are making across the business are positioning the business for sustained profitability. I want to begin by thanking Team Frontier for all their efforts in helping us to make progress and execute on our transformation plan. Their focus on safety, operational execution, and customer experience is fundamental to our success. We are moving with urgency, but we are doing so with the discipline required to build a stronger and more durable airline. Third quarter revenue of $1.4 billion was a company record, up 53% year-over-year, with RASM growth of 30% on an 18% increase in capacity. Adjusted dilutive earnings per share was $0.18, above the high end of our guidance range, as our revenue performance more than absorbed the incremental fuel headwind. Adjusted pre-tax margin improved nearly 12 percentage points year over year to 3%, despite absorbing a 56% increase in fuel price. Our fleet right-sizing work is now substantially complete. During the quarter, we finalized agreements to early return 13 A320neo aircraft and replaced that capacity with direct leases for 10 newer, larger, and more cost-efficient A321neo aircraft. Our fleet right-sizing transactions ensure measured growth, considerably lower future maintenance obligations, lower financial leverage, and better gauge dynamics for the business. On cost discipline, we remained on track to deliver $200 million of annual run rate cost savings by 2027, including the benefits from a more productive fleet. To this end, our adjusted unit costs, excluding fuel and sale and leaseback gains, are down approximately 2.5% year over year. Operationally, we are making meaningful progress to build a more reliable airline through improved maintenance planning, stronger station capabilities, and more consistent execution. Following volatile weather in most of July and August, our completion factor in September and through October today ranked third among domestic carriers. While this demonstrates significant progress, we are focused on improving the level of consistency in the delivery of the operation. The results we announced today also demonstrate the continued progress we're making with revenue management and customer loyalty, including the strong response to our premium offerings. First-class seat installation begins this quarter, with Starlink Wi-Fi installation beginning in the first quarter, diversifying the revenue base and enhancing our value proposition. Looking ahead, we expect the commercial momentum to continue. Rasm for the fourth quarter is expected to be up over 20% on capacity growth of 5% to 6%. which will be our fourth consecutive quarter of double-digit unit revenue growth, helping us mitigate the elevated fuel costs expected during the fourth quarter. Our performance reflects the successful progression of the company's strategic initiatives set out earlier this year and it gives us confidence in our ability to translate our momentum into sustained profitability. With that, I'll turn the call over to Bobby.