Copa Holdings, S.A. ( CPA) Q4 2011 Earnings Call February 9, 2012 11:00 AM ET Executives Joe Putaturo – Director, IR Pedro Heilbron – CEO Victor Vial –CFO Analysts Mike Linenberg – Deutsche Bank Ray Neidl – Maxim Stephen Trent – Citi James Parker – Raymond James Duane Pfennigwerth – Evercore Partners Eduardo Couto – Goldman Sachs Daniel McKenzie – Rodman and Renshaw Augusto Ensiki – Morgan Stanley PresentationOperator
Ladies and gentlemen, thank you for standing by. Welcome to Copa Holdings’ Fourth Quarter and Full Year 2011 Earnings Call. During the presentation, all participants will be on a listen-only mode. Afterwards, we will conduct a question-and-answer session. (Operator Instructions) As a reminder, this call is being webcast and recorded on February 9, 2012. Now, I’ll turn the conference over to Joe Putaturo, Director of Investor Relations. Sir, you may begin. Joe Putaturo Thank you very much, operator, and welcome, everyone, to our fourth quarter earnings call. Joining us today are Pedro Heilbron, CEO of Copa Holdings, and Victor Vial, our Chief Financial Officer. First, Pedro will start with our full year and fourth quarter highlights, followed by Victor, who will discuss our financial results. Immediately after, we’ll open up the call for questions from analysts. Copa Holdings fourth quarter financial results have been prepared in accordance with International Financial Reporting Standards. In today’s call, we will discuss non-IFRS financial measures. A reconciliation of non-IFRS to IFRS financial measures can be found in our fourth quarter earnings release, which has been posted on the company’s website, copaair.com.