Copa Holdings, S.A.

Ladies and gentlemen, thank you for standing by. Welcome to COPPA Holdings' first quarter earnings call. During the presentation, all participants will be in listen-only mode. Afterwards, we will conduct a question and answer session. At that time, if you have a question, you will have to press star 1-1 on your touchtone phone. As a reminder, this call is being webcast and recorded on August 6, 2026. Now, I will turn the conference call over to Daniel Tapia, Director of Investor Relations. Sir, you may begin.

Thank you, Alia, and welcome everyone to our second quarter earnings call. Joining me today are Mr. Pedro Heilbron, Executive Chairman and CEO of Copa Holdings, Mr. Robert Carey, Executive Vice President, and Mr. Peter Donkersloot, our CFO. Pedro will begin with an overview of the core of the quarter. Robert will then discuss commercial performance and operational highlights. Peter will conclude with a review of our financial results and outlook. Immediately after, we will open the call for questions from analysts. As a reminder, COPPA Holdings financial reports have been prepared in accordance with international financial reporting standards. In today's call, we will discuss certain non-IFRS financial measures. A reconciliation of these measures to comparable IFRS measures can be found in our earnings release, which is available on our website. Our discussion today will also contain forward-looking statements, not limited to historical facts that reflect the company's current beliefs, expectations, and or intentions regarding future events and results. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially and are based on assumptions subject to change. Many of these are discussed in our annual report filed with the SEC. Now I would like to turn the call over to our chairman and CEO, Mr. Pedro Heilbron.

Thank you, Daniel. Good morning, and thank you all for joining us for our second quarter earnings call. Before we begin, I would like to recognize and thank our more than 9,000 coworkers. Thanks to their commitment, professionalism, and disciplined execution, our team continues to deliver strong financial results for maintaining exceptional operational reliability and outstanding service to our passengers. They are the foundation of Copa's success and have my admiration and appreciation. Our second quarter results demonstrate the resilience of our business model in a significantly heavier fuel price environment and reinforce our ability to continue generating profitable growth through different market cycles. During the quarter, we delivered an operating profit of $91.7 million and an operating margin of 8.7%. These results were affected by an increase of 85% in the all-in fuel cost compared to Q2 2025, with approximately 40% of our bookings sold before the fuel cost increase. In the quarter, We grew capacity 16.5% measured in ASMs while maintaining solid load factors. Our capacity additions in 2026, after years in which aircraft delivery delays slowed our growth, allow us to further consolidate our Hop of the Americas advantage, especially in an environment of strong passenger demand across our network. Looking ahead, Booking trends remain strong, which support our expectations for another year of high load factors and solid financial performance. As part of our continuous efforts to strengthen the hub of the Americas, we recently set in place our transition from six to eight connecting banks beginning in March, 2027. This decision will improve connectivity throughout our network provide greater travel options for our passengers, increase aircraft utilization, optimize the use of airport infrastructure, and further strengthen Panama's position as the leading hub for intra-America's travel. Combined with our structurally low unit cost, best-in-class operational reliability, strong balance sheet, and the unique advantages of our Hub of the Americas, We remain confident in our ability to successfully execute our growth plans and continue delivering value to our shareholders. With that, I'll turn the call over to Robert, who will discuss the quarter's commercial and operational highlights.