Azul S A Sp/Adr

Hello everyone and welcome to Azoo's second quarter's earning conference call. My name is Zach and I will be your operator for today. This event is being recorded and all participants will be in listen-only mode until we conduct the Q&A session following the company's presentation. If you have a question, click on the Q&A icon at the bottom of your screen and write your name and company. When your name is announced, please turn your microphone on and proceed. For those who are listening to the conference on the phone, press 9 to join the queue and 6 to accept the audio when requested. I would like to turn the presentation over to Thais Heberle, Head of Investment Relations. Please proceed, Thais.

Thank you, Zach, and welcome all to Azu's second quarter earnings call. The results that we announced last night, the audio of this call, and the slides that we referenced are available on our IR website. I'd like to caution you regarding our forward-looking statements. Any matters discussed today that are not historical facts, particularly comments regarding the company's future plans, objectives, and expected performance constitute forward-looking statements. These statements are based on a range of assumptions that a company believes are reasonable but are subjected to uncertainties and risks that are discussed in detail in our CVM and SEC filings. Also, during the course of the call, we will discuss non-IFRS performance measures which should not be considered in isolation. Presented today will be John Rogerson, our CEO, and Antonio Garcia, our CFO. Abisham, the president of Azul, is also here for the Q&A session. With that, I will turn the call over to John. John?

Thank you, Thais. Welcome, everyone, and thank you for joining us today. We're pleased to present Azul's second quarter 2026 results. The quarter reflects the continued execution of our plan and the decisive actions we have taken to navigate higher fuel prices, protect liquidity, and build a stronger, more resilient company positioned for long-term success. As we go through the presentation, we'll focus on operational reliability and customer experience, Discipline, capacity and revenue management, liquidity and deleveraging, and the initiatives positioning Azul for sustainable value creation. In response to higher fuel prices, we proactively reduce capacity to protect cash and profitability. This is discipline. It reflects our commitment to align capacity with profitable demand and creating long-term value. This shows a clear change in mindset and acting in a responsible way to the macro changes. At the same time, we continued with our fleet transition as we removed several wide-body aircraft from our operation and we will restore our international capacity throughout this year. By year-end, we expect to have only one ACMI remaining and a significant step towards a more reliable international operation operated with Azul aircraft and our own crew members. Our operational performance is the best in the region. As you will see on the next slide, Azul is the most on-time airline in Brazil in April, June, and July, and the most on-time airline in Latin America in July. We maintain the number one position month to date. This matters because reliability is a key driver of customer satisfaction, loyalty, and customer selection. The improvement is also reflected in our NPS, which increased in 26 points in 2026. A better travel experience strengthens customer loyalty, supports premium demand, and reduces the cost of operational disruptions. Together, these improvements reinforce our ability to capture premium revenue through our focus on high-yield customers, enhanced customer experience, and differentiated products. This is how Azul grows revenue while maintaining disciplined capacity. It all starts with the customers. Reliable operations enhance customer experience, translating to stronger yields, and disciplined capacity converts demand into profitability and cash generation. Together, they position Azul to navigate volatility and create sustainable long-term value. Moving to slide four, our on-time performance reached 87.7% in July, making Azul the most on-time airline in Latin America. This follows leading performance in Brazil in April, June, and July. demonstrating the consistency of a great operation. This directly translates to our NPS, which increased 26 points since December 2025. This reflects the direct impact of restoring fleet reliability, reducing operational disruptions, and enhancing the overall customer experience. Improving reliability is not only the right thing to do for our customers, but also a key dryer of loyalty, premium demand and higher yields. One example of this is our co-branded credit card, which just hit a record of over 1 million holders this quarter. Behind these improvements are our crew members. Azul's service culture remains one of our most important competitive advantages. By focusing on operational reliability and customer experience, our teams are reinforcing the foundation of Azul and leading us to greater profitability. On slide five, you can see our crew members in action. I want to pause here and especially thank them for their dedication, passion, and commitment. These qualities make Azul unique and bolster our customer-centric culture, operational excellence, and differentiated travel experience. This is a competitive advantage that cannot be replicated simply by investing in aircraft. It is built by our people every day. Our product also reinforces this differentiation. Azul operates the most modern and efficient fleet. Our Embraer aircraft are equipped with seat-back entertainment, live television, and Wi-Fi, providing customers with a differentiated experience even on domestic flights. Combined with our service culture, this product advantage strengthens loyalty and supports our premium positioning. We have the best operational performance, the best hard product, and the best people in the business. All of that while maintaining the lowest unit cost in the region. With that, I'll turn it over to Antonio, who will walk you through our second quarter results. Antonio.