Spirit Airlines, Inc.

Welcome to the first quarter 2021 conference call. My name is James, and I'll be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. During the Q&A session, if you have a question, please put star 1 on your phone. I'd now like to turn the call over to Deanne Cable, Senior Director, Investor Relations. Deanne, you may begin.

Thank you, James, and welcome, everyone, to Spirit Airlines' first quarter earnings call. This call is being recorded and simultaneously webcast. A replay of this call will be archived on our website for 60 days. Presenting on today's call are Ted Christie, SPIRIT's Chief Executive Officer, Matt Klein, our Chief Commercial Officer, and Scott Harrelson, our Chief Financial Officer. Also joining us on the call today are other members of our senior leadership team. Following our prepared remarks, there will be a question and answer session for the Southside analysts. Today's discussion contains forward-looking statements that are based on the company's current expectations and are not a guarantee of future performance. There could be significant risks and uncertainties that cause actual results to differ materially from those reflected by the forward-looking statements, including the risk factors discussed in our reports on file with the SEC. We undertake no duty to update any forward-looking statements. In comparing results today, we will be adjusting all periods to exclude special items. please refer to our first quarter 2021 earnings release, which is available on our website for the reconciliation of our non-GAAP measures. Ted, I now turn the call over to you.

Thanks, Deanne. Good morning, everyone. Thanks for joining us. I've had the pleasure of visiting several of our stations recently, and once again, I am proud to see the well-orchestrated coordination between team members. Together with the rest of the SPIRIT team, we once again delivered strong operational results. For the first quarter, completion factor was 98.6%, and our on-time performance was 85.3%, an excellent result all around. As we enter the next phase of recovery, thanks to the contributions of all our team members, we are well positioned to capture the many opportunities that lie ahead of us. The first quarter started slowly, but as demand dramatically improved during the last few weeks of March, we were very pleased with how the domestic network performed and how the international network results progressed, driving positive cash from operations for the full first quarter 2021, even when excluding the payroll support funds received. Our Florida route saw particular strength during this period, as the typically strong spring break period was further supplemented by pent-up demand for leisure travel. Assuming the current trends continue, we believe we can achieve a positive adjusted EBITDA margin for the full year 2021. Leisure travel demand recovery has taken root. There may still be some bumps ahead, but as vaccines are more widely available, case counts abate, and travel restrictions ease, Spirit is stronger than ever and well-prepared to bring our low fares to more places and offer more guests the opportunity to travel. With that, I'll turn it over to Matt and Scott to discuss more details of our quarterly performance.