Controladora Vuela Compania de Aviacion, S.A.B. de C.V.

Good morning, everyone. Thank you for standing by. Welcome to Valera's second quarter 2025 financial results conference call. All lines are in listen-only mode. Following the company's presentation, we will open the call for your questions. Please note that we are recording this event. This event is also being broadcast live via webcast and can be accessed through the Valera's website. At this point, I would like to turn the call over to Ricardo Martinez, investor relations director. Please go ahead, Ricardo.

Good morning, and thank you for joining the call. With us is our president and CEO, Enrique Beltranena, our airline executive vice president, Holger Blankenspein, and our chief financial officer, Jaime Poz. They will be discussing the company's second quarter 2025 results. Afterward, we will move on to your questions. Please note that this call is for investors and analysts only. Before we begin, please remember that this call may include forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are subject to several factors that could cause the company's results to differ materially from expectations. As described in the company's filings with the United States SEC and Mexico CNBB. These statements speak only as of the day they are made, and Volaris undertakes no obligation to update or modify any forward-looking statements. As in our earnings pre-release, our numbers are in US dollars compared to the second quarter of 2024, unless otherwise noted. And with that, I will turn the call over to Enrique.

Good morning, everyone, and thank you for joining us. If there is one message I want to leave you with today is that Volaris has proven its resilience time and again, and we are well positioned to keep doing so. Yes, this is a challenging industry and we're not immune to external headwinds, but we stay focused on what we can control. We adapt quickly and execute with discipline. We believe there is a significant opportunity ahead and remain confident in our ability to deliver value for shareholders. We delivered second quarter results slightly ahead of our guidance, achieving a 28 percent EBITDA margin, which we expect will again rank near the top of the North American airline industry. Throughout the quarter, We took advantage of our flexible business model and took decisive actions to capitalize on demand across our network. Coupled with tactical capacity adjustments through the quarter, we delivered TRASMOS 7.8 cents ahead of our forecasted range. Ancillary revenue per passenger reached $54. remaining resilient with limited price elasticity and serving as a key contributor to total revenue. To reiterate, we stay focused on what we can control, particularly maintaining cost efficiency. Gas and ex-fuel remain contained at 5.69 cents despite lower capacity growth than initially planned. The quarter started on a softer demand note, so we prioritize sustaining low factors through demand stimulation. However, as we saw signs of demand sequentially improving by mid-quarter, we shifted gears to maximize margin performance. In the domestic market, as some initial fears around tariffs and its economic pressures eased, we turned our focus to yields and strategically capturing higher fares where possible. While hesitancy to travel remained on US routes, We took advantage of fair elasticity among travelers willing to book close to departure. While international low factors moderated as we prioritized yield expansion, domestic low factors recovered to 88% by quarter end. This drove a total second quarter low factor of 82%. Recent demand trends have been constructive, and we see potential for cross-border traffic to recover once volatility eases. Let me provide additional context. During the quarter, Golaris conducted sentiment surveys among passengers on both sides of the border. We found that a significant portion of travelers have mainly posted travel plans due to fears of deteriorating economic conditions, possibly linked to immigration rhetoric. In response, we implemented several initiatives, including increased flexibility, the option to defer airport fee payments until check-in, among others. It is worth noting that 75% of respondents ultimately intended to fly again within the next six months, suggesting that underlying demand remains positive into the future. Looking ahead, we want to reiterate that our capacity decisions will continue to be anchored in two guiding priorities, customer demand and sustained profitability. While U.S. immigration uncertainties may continue to influence demand in the near term, we see this as a manageable medium-term factor. Despite this and ongoing industry-wide OEMs, constraints, and macroeconomic conditions, we continue growing aligned with market trends. Encouraging demand for the second half of the year is shaping up to be stronger than the first half and is tracking in line with historical patterns. With improved feasibility, we are reinstating our full year EBITDA margin guidance, now expecting a range of 32 to 33%. This outlook is supported by fundamental drivers pointing to sequential improvement in the second half of 2025. I want to emphasize that regardless of external conditions, Volaris has consistently delivered results in line with guidance over many consecutive quarters. Looking ahead to 2026, in light of the current macroeconomic environment, we're embedding additional flexibility into our fleet plan, positioning Volaris to grow ASMs in the mid-single digits in line with emerging market dynamics. Our agile approach to managing the productive fleet enables capacity adjustments of about three percentage points in either direction, allowing us to respond to demand trends while maintaining margin discipline. I will now turn the call over to Holger to continue to discuss our second quarter commercial and operational performance. Holger, please.