Chorus Aviation Inc.

Good morning, ladies and gentlemen, and welcome to the Corus Second Quarter 2025 Financial Results Conference Call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question-and-answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Wednesday, August 6, 2025. I would now like to turn the conference over to Matt LaPierre. Please go ahead.

Thank you, Operator. Hello, and thank you for joining us today for our second quarter conference call and audio webcast. With me today from Chorus are Colin Kopp, President and Chief Executive Officer, and Gary Osborne, Chief Financial Officer. We will begin today's call with a brief summary of the results, followed by questions from the analyst community. As there may be some forward-looking discussion during this call, I ask that you refer to the caution regarding forward-looking statements and information found in our MD&A. This pertains specifically to the results and operations of Chorus Aviation Inc. for the six months ended June 30th, 2025, as well as the outlook section and other sections of our MD&A where such statements appear. Finally, some of the following discussion involves non-GAAP financial measures, including references to adjusted net income, adjusted EBT, adjusted EBITDA, leverage ratio, and free cash flow. Please refer to our MD&A for further information relating to the use of such non-GAAP measures. I'll now turn the call over to Colin Koch.

Thank you, Matt, and good morning, everyone. I'm happy to report on a strong quarter. per course with solid performance across all key financial metrics. On June 25th, we announced the declaration of our cash dividend of $0.08 per share payable on August 15th with future dividends to be declared at quarterly report outs. And that as we grow earnings and cash flows, we aim to distribute approximately 25% of our free cash flow after debt repayments as dividends to our shareholders. Through our NCIB program and SIB that we completed in May, we continue to buy back shares and year-to-date have repurchased a total of $27.2 million in core shares. And on September 30th, we will redeem our Series B debentures in the principal amount of $28.7 million, which will further strengthen our balance sheet and position cores for growth. Additionally, on July 21st, we were very pleased to announce the strategic acquisition of Ellison and Associates Inc., a leading provider of aerospace engineering and certification services based in Montreal. This is a business who we have worked with in the past and we see great potential in. Founded in 1997, Ellison has built a reputation for excellence and innovation and today sits at the core of Montreal's aerospace community, renowned for its ability to deliver complex engineering, defense and sustainable aviation projects. Ellison will be key to growing and enhancing our specialized MRO capabilities while adding valuable expertise and industry relationships. We are very pleased that founders and co-presidents Stephane Durand and Taif Rahman will continue to lead Ellison, and we look forward to welcoming their entire team. The transaction is expected to close prior to the end of the year and is a key strategic move to support growth. On the asset sales side, as we discussed last quarter, we've had significant interest from buyers for the three dash eight four hundreds coming out of the CPA this year and the six next year and we anticipate moving a sales agreement on the first three soon. Just turning to the operating side, our businesses have all delivered very well this quarter, providing consistent and strong earnings and securing new contracts. Let me touch on some of those highlights. Doug and the team at Jazz have again generated strong earnings under the CPA with Air Canada while demonstrating a dedicated focus to operational excellence. A recent proud moment for us was seeing our partner Air Canada rank first among North American carriers in on-time performance for the months of May and June, and we applaud Jazz for its role as an important operational partner in contributing to that achievement. Corey and the team at Voyager continue to perform very well and are on track for yet another record year of revenue, EBITDA, and income, driven by growth in their parts sales, specialty MRO, and defense business. And we continue to expect Voyager's 2025 total revenue to come in at approximately $150 million for the year. In this quarter, we saw an accelerated shift in business mix from the lower margin overseas flying to higher margin flying contracts, such as the Mazer contract with D&D, which will continue to drive improved profitability as we move forward. This shift has been consistent with our long-term plan. and has been accelerated with the geopolitical pressures and funding constraints resulting from the World Food Program and United Nations reducing contracted flying operations. On the specialty MRO side of the business, Voyager has partnered with Matreya, a global U.S.-based defense and national security company, to develop their Dash 8300 Fireswift aerial firefighter. The first of two aircraft is currently undergoing flight certification and is expected to be completed by the end of the year. Matreya is paying for the program costs and Voyager could potentially operate the aircraft on their behalf. Depending on the success of the program, there could be future opportunities for Voyager that may include aircraft modifications and operations. At Cignet, Lynn and the team are making excellent progress towards our pilot training academy and are preparing to welcome their ninth cohort in the coming weeks. Additionally, Cignet has recently been awarded the Department of National Defense standing offer, which is valid for up to three years to provide continuation training for pilots. And we're very pleased to have six pilots from eight wing Trenton already in the training program. This quarter, we have seen strong execution against our plan, which is driving improvements in our free cash flow, net income, and adjusted EBITDA. We're very focused on improving shareholder returns and are now well positioned to grow our business going forward. I'd like to thank our shareholders for their ongoing support and our board of directors for their strong guidance and recognize our employees across all of our first companies for the focus and dedication to our X6. I'll now pass it over to Gary for him to take you through the financials. Thank you, Colin, and good morning.