Chorus Aviation Inc.

Good morning, ladies and gentlemen, and welcome to the Corus Aviation Second Quarter 2026 Financial Results Conference Call. At this time, all lines are in listen-only mode. Following the presentation, we'll conduct a question-and-answer session. But anytime during this call, you require immediate assistance, please press star zero for the operator. This call is being recorded on Wednesday, August 5, 2026. 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. With me today from chorus are Colin Copp, 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 period ended June 30th, 2026, 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 Copp.

Good morning, everyone, and thank you for joining us today. I'm pleased to report that Chorus delivered strong second quarter financial results. and continues to make meaningful progress towards our strategic growth objectives. We are today a trusted Canadian partner with a global reach focused on growing our aviation, aerospace and defense platform to create sustainable long-term value for our shareholders. We continue to execute on our capital allocation plan generating $117.7 million in free cash flow and proceeds on aircraft sales in the first half of the year, including $72.6 million in the second quarter. This has allowed us to maintain a strong balance sheet with leverage at 1.5 and liquidity of $204 million that provides financial flexibility in our long-term capital allocation plan to invest in growth opportunities while continuing to return capital to our shareholders. A key milestone in our growth and diversification during the quarter was the completion of our acquisition of Cadix Aero Supply on April 1st. Since closing, the integration has progressed smoothly and the business continues to perform exceptionally well. During the quarter, CADEX contributed revenue of $16.4 million and net income of $1.2 million, including $0.5 million of amortization expense on acquisition-related intangible assets, which tracks ahead of our initial expectations. Gavix has expanded our aviation and aerospace platform, enhancing the quality and diversification of our earnings and strengthening the resilience of our cash flow profile. Our approach to capital allocation remains unchanged. During the quarter, we repurchase shares under our normal course issuer bid while also maintaining our quarterly dividend. Following the renewal of the NCIB earlier this year, we repurchased approximately $14.8 million of shares during the second quarter, bringing the total repurchases to approximately $20 million year-to-date. And since 2022, we've returned approximately $144 million to shareholders through our NCIB and two substantial issuer bids. We have executed as planned on the monetization of the 9-8-400 aircraft previously announced. Seven aircraft have now closed and being delivered, which include four aircraft transactions completed during the second quarter. The remaining two aircraft are planned to close by the fourth quarter of 2026. generating estimated net proceeds of approximately 14.4 million US dollars. Turning to the businesses, our subsidiaries have performed very well this quarter and continue to make inroads on several key strategic initiatives. The breadth of activity across our company highlights the unique capabilities we're building at Chorus. Doug and the team at JAS have been working hard on the Air Canada Express operation at Billy Bishop Toronto City Airport with the launch of service to Chicago, Washington, Dallas, and Boston during the quarter. And in June, JAS successfully completed its IOSA renewal audit, the global benchmark for airline safety management, and they look forward to the renewal. I'm also pleased to report that JAS recently reached a tentative agreement with its Canadian Airline Dispatchers Association, representing the company's 56 flight dispatchers. At Voyager, Corey and the team continue to drive several strategic growth initiatives, positioning the business to capitalize on Canada's growing defense and aerospace requirements. Progress continues on the Dash 8-300 Fireswift aerial firefighting program, with the first aircraft going through final certification and a second expected to be completed next quarter. Voyager has also expanded its aftermarket parts business by adding ATR and Boeing inventory and recorded its first sales of Boeing 757 parts during the quarter, adding two new platforms to the app parts market offerings. As well, their domestic charter operations remain strong, supporting wildfire response efforts across Canada, and Voyager has completed the sale of 2-8400 aircraft. Looking ahead, Voyager recently announced the purchase of a flex rotor uncrewed aircraft system from Airbus, becoming the first Canadian customer and operator of the platform. This represents an important milestone in Voyager's intelligence, surveillance, and reconnaissance capability and expansion into the uncrewed aircraft system market. In addition, Voyager and Airbus signed an MOU to identify and pursue opportunities to collaborate on the delivery of Flexrotor remotely piloted aircraft system services for commercial and government customers across Canada. We look forward to providing further updates as this exciting new capability develops. Voyager also announced a new engagement with 49North, an NDA space company focused on delivering advanced ISR solutions for Canadian government, defense, and security customers. Combining Voyager's special mission operations, maintenance, and training with 49's mission systems and data analytics capabilities positioned both organizations to support Canada's growing requirements in sovereignty, security and defense. At CADEX, John and the team completed a 10,000 square foot warehouse expansion at Peterborough Airport, significantly increasing capacity and consolidating inventory, shipping and receiving operations into a single location. The expansion doubles storage capacity, improves fulfillment speed for its growing demand, supports greater inventory levels in Canada, and enhances service for customers. The investment positions CADEX well for its next phase of growth, while further strengthening customer service and operational efficiency. For TAFE, Céphane, and the team at Ellison, work continues to progress on the Government of Quebec medevac program. The design review phase has been successfully completed and the aircraft is now being prepared for modifications. The project remains on schedule for completion by the end of the fourth quarter and continues to be an excellent example of the value that can be created through collaboration across the course group of companies, with Ellison and Voyager working together to deliver a specialized solution for the customer. At Cignet, Lynne and the team continued delivering high quality flight training and strengthening the pilot development pathways. A second destination porter cohort and the 12th JAZZ approach cohort will begin shortly. The innovative JAZZ approach program is another strong example of cross-course collaboration in action. JAS plays a critical role in the Canadian pilot career pathway through its flow agreement with Air Canada, which has enabled more than 1,700 pilots to transition from JAS to Air Canada over the past 10 years. Programs like JAS approach are essential to sustaining a pipeline of highly skilled, career-ready pilots for JAS and supporting the long-term health of the Canadian aviation industry. Cignet is also advancing plans for its new flight training base in North Bay, which will support expanded training capacity and deeper collaboration with Canadore College. Across the organization, our businesses are executing very well, delivering strong operational and financial performance while advancing strategic initiatives that support long-term value creation. We remain committed to discipline capital allocation in the pursuit of selective accretive acquisition opportunities that align with our course group of companies and investment criteria. We're encouraged by the opportunities we're seeing and continue to evaluate transactions that can strengthen and diversify our aviation, aerospace and defense business while generating attractive returns for our shareholders. Through this strategy, we're building a stronger and more diversified company and advancing our vision of being Canada's trusted partner and global leader in aviation, aerospace, and defense. I'll now turn it over to Gary to walk you through the financials.