Operator

Good morning, and welcome to Sabre's First Quarter 2026 Earnings Conference Call. My name is Siobhan and I will be your operator. As a reminder, please note today's call is being recorded.

I will now turn the call over to the Vice President of Investor Relations, Jim Mathias. Please go ahead, sir.

Jim Mathias

Good morning, and welcome to our first quarter 2026 earnings call. This morning, we issued an earnings press release, which is available on our website at investors.sabre.com. A slide presentation, which accompanies today's prepared remarks, is also available during this call on the Sabre Investor Relations web page. A replay of today's call will be available on our website later this morning.

We advise you that our comments contain forward-looking statements that represent our beliefs or expectations about future events, including results of our growth strategies, our AI offerings and AI-related developments in the industry, transactions and bookings growth, expectations regarding the Middle East conflict and recovery, commercial and strategic arrangements, the impact of geopolitical events, our financial guidance, outlook and expectations, pro forma financial information, free cash flow and liquidity, among others.

All forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from the statements made