Spirit Airlines, Inc.

Welcome to the 2Q 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 press star 1 on your phone. I'd now like to turn the call over to Deanne Gable, Senior Director of Investor Relations. Deanne, you may begin.

Thank you, James, and welcome, everyone, to Spirit Airlines' second 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 sell-side 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 second quarter 2021 earnings release, which is available on our website for the reconciliation of our non-GAAP measures. With that, here's Ted.

Thanks, Deanne. Thanks to everyone for joining us today. Now nearly 18 months into the pandemic, I grow ever more proud and impressed by the dedication of our SPIRIT team members. Throughout the course of the crisis, we have banded together to come up with innovative solutions to secure our future, save jobs, and take care of our guests. This summer has proven to be operationally challenging and very busy with full aircraft and airports. I'm eternally grateful for all the hard work as we move ahead through the recovery. Turning to our second quarter financial results, solid operational and network execution together with an improved demand backdrop contributed to our reporting among the best financial results in the industry. While we recorded a net loss of $36.3 million for the second quarter, In June, we recorded our first month of profitability since the onset of the pandemic. Based on current booking trends, we anticipate we will be profitable in both the third and fourth quarters of 2021. Operationally, the team delivered strong results despite numerous weather systems across our network and elevated congestion at airports due to the volume of industry capacity. Our DOT on-time performance for the quarter was 78.3%, and our completion factor was 99.3%. The Spirit team is doing an excellent job managing through the recovery. We are once again growing our network and playing to the strengths of our business model. The team continues to innovate and grow non-ticket revenue, and they are doing a great job managing costs. And as we ramp to full utilization, we will see further efficiency gains. There is still much to be done to attain sustained profitability and deliver high returns to our shareholders, but the stage is set, and we like how we are positioned. With that, I'll turn it over to Matt and Scott to discuss more details of our quarterly performance.