Operator Hello everyone. Thank you for joining us and welcome to the Frontier Group Holdings Second Quarter 2026 Earnings Conference Call. I will now hand the conference over to David Erdman, Senior Director of Investor Relations. David, please go ahead.  David Erdman Thanks and good morning, everyone. Welcome to our second quarter 2026 earnings call. Joining me this morning in speaking order are James Dempsey, President and Chief Executive Officer, Bobby Schroeter, Chief Commercial Officer, and Mark Mitchell, Chief Financial Officer. Each will deliver brief prepared remarks and then we'll open the call for Q&A. Before we begin, however, I will remind you that today's discussion will include forward-looking statements subject to risks and uncertainties, and we will refer to certain non-GAAP financial measures. Reconciliations can be found in the earnings release issued earlier today and on our Investor Relations website. We also will be referencing stage-adjusted unit metrics which are based on a conversion to 1,000 miles. So I'll turn the call over to Jimmy to begin his prepared remarks. Jimmy?  James Dempsey Thanks, David, and good morning, everyone. Our second quarter performance was well ahead of our earlier expectations and marks a meaningful step forward in Frontier's transformation. The progress we've delivered this quarter validates the actions we have taken to strengthen the airline and position the business for sustained profitability. I'm incredibly proud of the focus, urgency and execution across Team Frontier as we continue advancing the plan we announced in February. Adjusted loss per share narrowed to $0.10 compared to our original guidance range of a loss of $0.45 to $0.60 per share, with top-line performance the primary factor. We delivered an all-time company record for quarterly revenue of $1.3 billion, up 38% year-over-year, with RASM up 28%, augmented by strong travel demand, the continued progression of our revenue management initiatives, and a more favorable competitive capacity backdrop. We ended the quarter with liquidity of $1.16 billion, further strengthening our balance sheet and giving us added flexibility as we execute against our transformation priorities. Across the business, the team has been executing with discipline and momentum against the 4 priorities we set out in February

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Frontier Group Q2, 2026 Earnings Call Transcript (ULCC)