Hi. Presentation of the full year of 2021 and the quarter four results. My name is Birgir Jónsson, and I'm the CEO of PLAY. You're joining us here on a very chilly Reykjavík morning, and you might have realized that I'm now speaking English. We have decided to do this presentation in English because we are an ever-growing international company and have a growing number of international staff and employees, partners, media following us and various investors and analysts, and we decided to take the step and do this in English. I will go over the general highlights of the year. Þóra Eggertsdóttir, our CFO, will come and present our financial results, and then I will come again and go over the general kind of outlook and the major issues in our business in the coming months. 2021 was a momentous year and a very interesting year, obviously full of milestones and victories for PLAY. We started operation, but it was marred by COVID, and our results are colored by that. Just as we, let's say, put that crisis to bed and seem to be able to come out of that very strong, we are into another scenario, which is the Russian invasion of Ukraine, with the effect of high oil prices and fluctuation in oil prices. This is basically our current job now is to get grips on that situation, and we will go over that in some details in the presentation. Just to kind of highlight that, we are seeing extremely strong bookings, and this invasion has not impacted that at all. We are very cash strong. We do not need extra cash. We have no plans of going into any kind of equity raise. We actually, despite of all this, foresee that we will be in operating profit in the second half of the year. We are actually confident that we are entering a new and very exciting part of the PLAY story. Without further ado, I will go into the highlights of the year. Of course, we started our operation in June. Everyone knew that the environment was very fluid. It was very kind of uncertain what would happen with COVID and all that stuff. Nonetheless, we are extremely happy with our results. We got around 100,000 passengers in a very small and defined narrow market, which is mostly the to and from Iceland market, which is no small feat actually for a new startup company in a very different difficult environment. We have had three aircraft in operation and our operations, especially for a startup company, was like a well-oiled machine. We achieved 95% on-time performance, which is a very good indicator of how everything is working if the planes are running on time, which is really important for everyone. Another important KPI or an issue to consider is that our passenger mix was about 56% people coming from Iceland and 44% people coming to Iceland and t hat goes to show how quickly we were able to get the foothold in the, let's say, the international markets and how successful we've been in generating kind of tourists to Iceland or basically selling tickets in our international markets, which is, of course, extremely important for the Icelandic economy because we are bringing tourists to the country and generating currency, which is a huge issue, especially in these difficult times with COVID and all those restrictions. While we were doing that, we were also. I mean, we are in a ramp-up phase, so everything we say and all of the numbers have to be kind of analyzed with that in mind. This is a takeoff. We are starting our operation, we are also building our future network. We announced a lot of destinations. In October, we had some Scandinavian destinations, Gothenburg, Stavanger, and Trondheim in Norway, Palma de Mallorca, Málaga as destinations in this summer when we take the next kind of expansion steps, and then the list went on. At the same time, we're also announcing new aircraft because we already have secured around 10 aircraft for our future expansion. We have been able to lock in really a favorable aircraft at extremely good rates into the future, thereby securing a low cost structure of the company. Like I said, we were also building towards the future, and one of the major projects we did last year was a new booking engine, which might possibly not sound very interesting, but it's an absolute platform underneath our digital future. It gives us number one, gives our passengers a lot smoother experience when booking tickets and making changes and these kind of things. It gives the company much more precision in pricing and in creating ancillary revenues. This is a very important future step or let's say a step towards our future in the digital sphere. In this project, we are working with in-house experts. We have some local Icelandic experts also, and then we are working with a world-class company that has a long track record in creating these kind of digital solutions for leading airlines in the world. In December, we took a big step of launching our commercial sales to the U.S., which was according to plan, but also a really important milestone. I'm really happy to say that this has gone extremely well. Judging or talking about the load factor, of course, we started our flights in, I think the last week of June, 24th of June. Our performance, this is, or in a normal year, you would look at this load factor and say, "Okay, this is not great." But in COVID, having begun the ticket sales in May, this is actually absolutely acceptable for us judging by the fact that a lot of our destinations, especially the European city destinations, were at one point or another and usually at another point and many points, in some kind of restrictions, various, of various severity. Sometimes full lockdown, sometimes some curfews, so we are extremely happy to at least have gained the trust of those people and 100,000 passengers in the last year. We saw a rise last fall, and some of you might remember what was happening last fall. We got like a half-time in COVID, so we saw especially October was a strong month. We got the Omicron variant in November, December. Our load was impacted, and then we have seen the load grow. I'm gonna go into a little more detail later in the presentation about that, but we can see now in the first month of the new year that things are quickly returning to normal. Actually, we are more or less seeing trends like in a normal year, which is very comforting. 150 employees at the year-end. We will be around 300 people in this summer. Again, extremely important for a small nation like Iceland to create all these jobs in the travel and tourism industry. We have people from around 10 nationalities. We have already announced that we opened an office in Vilnius in Lithuania in December. That project is ongoing and actually going a lot better than at least I was anticipating. The people we are getting, we have about eight people now. We're gonna go up around 20 this year. These are extremely competent people, international in their mindset, well-educated. They just come into the office, and they work and join the team. They have been here in Iceland for training, and this is a huge step for our company both in terms of culture and in terms of ensuring an international focus in our operation. We have people in service. Our service team is there in part. We have flight operations and various operational roles. We have commercial. We have digital designers. These kind of functions will be there. We do not treat this as anything else than a full part of our company. We just have a remote location like in fact most international companies do. They are based in more than one place. A lot of our, and I would say a vast majority of our marketing and PR efforts are focused on the international markets. We have been extremely successful in generating interest and have enjoyed a lot of good coverage about our company and about our plans and what we're doing from some major media outlets, and that's a really important thing because we're not spending too much money on like top-line marketing and advertising. We want to do it in a digital stage, and PR is a major factor in that. We just throw there a few screenshots of some coverage. This is an ongoing project and an ever-growing part of our operation. I spoke a little bit about our booking engine that we launched in December. This is like most kind of digital project; the first stages of these kind of things are usually underwater. You're not really seeing yet the big benefits of it. This is a really strong future platform that we're building on and gives us a lot of capabilities and features to play with and tweak our operation. Another interesting thing about our kind of service, because we are a really service-focused company, is that we're doing that mostly in a digital manner. We throw up there some stats around our chatbot, which we call Playfin, which is the guy that really calls the shots in this company, this little puffin. I mean, it, I should say, took about 18,000 chats, and only 2,000 of those chats or requests or contacts were being converted to a human agent. By doing this, we have extremely quick service, extremely focused, and people are getting answers and service 24/7 basically. In some cases where the chatbot cannot solve it goes to our service team. A part of it is in Iceland. The Icelandic-speaking team is here, and the English-speaking team is in Vilnius. We are achieving a lot of success with this. This is not a solution that is just bought off the shelf. This is a digital puffin that is actually trained by our service people here. He is taught what questions he can anticipate and what the answers are. This is a constant project of training and developing and making sure that the service is correct and good. I want to just stop and give a lot of thanks and a big kudos to the service team to making this happen because this is seriously impressive. Another interesting thing about starting up a company and having this kind of defined vision of the future and this kind of secure funding under the company is that we can allow ourselves to basically ask ourselves the question, how does the perfect company look? A perfect company in 2022 is very focused on sustainability. We see this issue rising in many aspects. When we're speaking to investors, this is an ever-growing ESG question comes up in those questions. We see it definitely with customers. They are choosing which airline they are using because of the environmental impact and the corporate responsibility issue. More growingly, we are seeing it in our kind of advertising. I would say the job interviews, when people are coming here for job interviews, they are increasingly basically asking about these things because, you know, people, the younger generation, this is a real issue for them. This is not some kind of a secondary thing. This is a major thing. We have actually offered people jobs that do not want to come here because we are an airline. This is a thing that the aviation industry has to tackle, and it's really important for us to be able to do it from the start and ingrain it into a culture. These things are. Okay, there are some environmental factors. Of course, airline aviation is a problem for that. It just has to be said. There are a lot of interesting things going on around this sustainable aviation fuel. There's offsetting issues, offsetting strategies and offsetting debates and discussions going on, fuel efficiency strategies and these kind of things that basically reducing the amount of fuel we burn. Obviously, the aircraft that we are using are latest generation, and they burn 25% less than an aircraft would have done a few years ago. This is really important. We're into the kind of social and governance factors of the company. Our people, how do people feel good at work? The equality, equal opportunities, these kind of things. These are all issues that we take really seriously, have been awarded some awards for it and some certifications, and this is a huge thing for us. This is a real business issue. This is not something you just talk about in a presentation like this. This is a real business issue, and if you can ingrain it into the culture when a company is growing, this just becomes part of the way we do business. This is our focus these days. I'm gonna welcome to the stage Þóra Eggertsdóttir, our CFO, and she is gonna talk you through our numbers. Welcome, Þóra. Thank you, Birgir. The financial position of the company is strong, with an equity ratio of 32.9%, cash position of $52 million, and RASK of $3.5 and rising. Total revenue was $16.4 million and increased steadily as the year progressed. Yields are becoming higher, and the portion of ancillary revenue is increasing slowly but surely. EBIT was negative, as was to be expected during this initial phase of operations. It is not until we have more efficiency and economy of scale within the operations that we become profitable and more aircraft and better utilization of the network. We have a strong balance sheet with no interest-bearing debt and a healthy cash position. In 2021, PLAY was in its startup phase, and the financial results reflect that, and will continue to do so, to some extent, for some time, or until the company reaches further economies of scale. This will already start to materialize with the launch of the hub-and-spoke network in spring 2022, at which point financial results will start to improve. Total loss amounted to ISK 22.5 million last year, the first operating year of PLAY. The main contributing factors to the loss were less revenue than anticipated and the rising price of emissions units. In 2021, the COVID pandemic had a negative impact on demand and then of course revenue. Total revenue was ISK 16.4 million, which was below expectations. Operating expenses were in total ISK 32.6 million and were in line with expectations. Staff cost was lower due to employees being hired at a slower rate than anticipated. Fuel cost was in line with expectations despite higher fuel prices because of lower load factor, fuel saving procedures, and less production than anticipated. The price of emissions units or ETS, however, increased over the year and had a significant effect of ISK 2.7 million. Financial expenses were negative by ISK 3.8 million, 1.8 of which was due to currency loss. The effect was mainly related to the weakening of the Icelandic krona towards the dollar. Passenger revenue amounted to ISK 11.7 million, representing over 71% of PLAY's total revenue. Ancillary revenue amounted to ISK 4.7 million or 29% of revenue. Ancillary revenue per passenger was $47, which was lower than anticipated. This was in part due to PLAY's COVID flexibility policy, which allowed customers to make changes to their flights without paying the standard change fee. 53% of revenue was in ISK. RASK has grown 35% during the quarter from $0.029 in Q3 to $0.039 in Q4. There are impressive improvements in bookings and demand positively affecting RASK performance. Being a low-cost airline and due to the COVID-19 pandemic, emphasis was put on cost control from the very start of operations, and overall, PLAY was successful in keeping costs down. 50% of our cost was denominated in ISK and 43% in USD. CASK excluding fuel was $0.066, which was in line with expectations. The price of ETS units increased considerably during 2021 and the beginning of 2022 but has come down somewhat recently. CASK excluding fuel increased between quarters Q3 and Q4, because PLAY is still building its infrastructure and preparing for future operations and larger fleets. Therefore, CASK excluding fuel is expected to decrease once further economies of scale is reached. PLAY's balance sheet amounted to ISK 204 million at year-end. PLAY took delivery of three aircraft during 2021, and the right-of-use assets were ISK 117 million. Intangible assets were ISK 10.7 million and are related to the start of operations and IT development. Trade and other receivables were ISK 6.8 million, 5 of which are the acquirer's unpaid ticket sales to PLAY. PLAY's cash position is strong, with cash and cash equivalents amounting to ISK 51.7 million. Shareholders' equity totaled 67.4 million, equaling an equity ratio of 32.9%, putting PLAY in a comfortable financial position. Non-current liabilities amounted to ISK 105.3 million, all related to aircraft leases. Current liabilities were ISK 31.4 million and consisted of ISK 15 million of aircraft leases and provisions, and deferred revenue was ISK 7.1 million of sales liabilities. Operating cash flow before adjusting for changes in working capital deteriorated by ISK 17.3 million over the year, driven by the effect of COVID-19 on the business. The positive contribution of working capital changes to operating cash flow was ISK 6.4 million. The main driver behind the increase was deferred income and receivables related to forward bookings. Net cash used in investing activities decreased by ISK 17 million and was mainly due to deposits paid for aircraft which amounted to ISK 7.9 million, and investment of operating and intangible assets of ISK 9.1 million. Cash from financing activities was from the private placement and IPO, which amounted to ISK 80.9 million. PLAY has formed its fuel and currency hedging policies, which are in line with PLAY's overall risk management policy. The fuel hedging policy is to hedge 20%-60% of expected fuel consumption for up to six months forward. No fuel hedging is in place as of yet, but the policy will be implemented when more visibility and market stabilization becomes clearer. The currency hedging policy is to always match inflows and payments in each currency to the extent possible, and then to hedge 50%-80% of forecasted net position for three to nine months forward. The currency hedging policy will be implemented once we start our operations. Now I'll hand it back over to Birgir, who's gonna go over the CEO updates and outlook. Thank you, Þóra. Yes, okay. Now if we focus on the future and basically what is happening now and what we see happening in the future. If we look at our sales curves or basically the trends in the sales, we can see here in the red line the total weekly sales of tickets since we began our operation. What we see basically after in the beginning of new year, first of January, almost to the date, we basically see the sales just rocketing upwards. This is in line with what is going on with COVID. Obviously that we are increasing our capacity in the spring, but the markets are opening at precisely the right time that we are basically increasing our capacity. Interestingly, when we break it down, we see here our three basically major markets. The red line is what we call the from passenger, or basically you could say Icelandic people going abroad. The green line, I think it's green, is the to passenger, basically we could say tourists coming to Iceland. Then the blue line is the via passengers, basically the transatlantic connecting network. This is in very healthy growth and we are basically seeing the business model working. The mix of destinations is functioning, and this is evident in the growth of the via passengers because these are people that are not stopping in Iceland outside of these one or two hours when they do their connections. We are really seeing, like I showed before, that we are gaining some very important footholds in the markets and we are generating sales, which is in the current competitive environment of international aviation. It's not something to take for granted. I just wanted to stop and say that this is a big achievement for us. Another thing that happens now when we basically take the step of expanding our fleet and our network is that we're changing, let's say, the combination of both our aircraft and also the layout of the cabin. What we are doing now is we are reducing our cost per seat by 7% and also the emission per seat by around 9% by increasing the number of seats in the aircraft. The people that have flown with PLAY have seen that we have quite big aircraft with not so many seats, 192 seats in them now. Our Airbus A321neos will have 214 seats post-rollout, and then we will have the mix of the A320neos, which will have a combination of 174-180 or depending on the cabin layout. What this means is that we will have three different types of seat pitches that our passengers can choose from. The, let's say pitch number one is our normal economy seat pitch or leg space. Then there's slightly more that you can pay for a premium, and then there's more than that, which or let's say the most leg space which is also available at a premium. This does not come as a part of the seat you buy. This is an add-on product that you can buy a very cheap ticket, and then you can buy the seat that you want or basically build your own price, depending on what your needs are. In terms of our business, our cost of seat is going down, which means that we can offer lower prices because there has to be a link between low cost and low price. We cannot have high price and low cost. That is not very good business in the long term. Like I said, we are increasing our capacity quite dramatically now in the spring. We have been operating three aircraft, and we have not been utilizing them fully, which is, like Þóra said before, reflected in our revenue also, is that the COVID phase or the COVID market situation and the phase that we went through in that situation was simply such that the demand was not enough to operate as we just did. The markets are opening now and we believe that we are increasing our capacity precisely at the right time. We are adding these new aircraft and new destinations. We will have around a million seats on offer in this year, which is quite a good sign, significant increase from the 200,000 we had last year. This is our basic network, our destinations. To make it simple, we will have daily service to New York Stewart Airport, Boston Logan, and Baltimore-Washington Airport. So there will be daily service from those airports connecting in Iceland and then feeding into the European destination network. In addition to that, we have let's say leisure destinations in Iceland which are mostly focused on Icelandic tourists, which would be the South of Spain, Tenerife, Canaries, Majorca, and these kind of places, which are summer and sometimes winter holidays. This is a mixture of network. The beauty about this network is that we are never going into any kind of a long-haul low-cost operation. We are always feeding from these ever-growing actually European destination networks via Iceland to the U.S. We never need to find 200 people per day that want to go from Copenhagen to Boston. We can simply find our passengers throughout this network, gather them in Iceland, fly them across the pond to the U.S. and vice versa. We are never going into this kind of long-haul operation, which in most cases would require a wide-body aircraft because the flight from Europe to U.S. is usually seven, eight hours. It's only about five plus hours from Iceland to the EU. We can utilize our aircraft, our crew, and basically create a niche in the market so we are not going head-to-head with some very large capacity international behemoths in the industry. Our priorities for the coming months is that well, number one, we have to be very dynamic into what is happening. We were seeing the end of COVID, like I said at the beginning of the presentation. We had another issue to deal with constantly something that we have to monitor. The good thing in this bleak situation is that, or I would say bleak world situation, is that our bookings, like I just demonstrated, have not taken any hit and, in fact, have been growing quite healthily. We are undeterred to continue with our plan and, in fact, have not changed the plan at all. But we will make some capacity adjustments like all airlines are doing. By that I mean simply we have to. For example, we are ending our service to Amsterdam now in end of March, we will cut a few flights off the tail end of that. We're basically picking a few flights out of our schedule to making sure that we are utilizing our assets and our cost and in this case the fuel the best we can. Nothing major, no disruptions to the whole plan or to a huge group of people. This is just the normal way of managing an airline in an ever-changing environment. Another obviously huge project for us is this expanding exercise where we're basically transforming ourself from a point-to-point airline to an interconnecting hub-and-spoke airline, which is a massive task and really complex and much more complex than it would look. It's a huge IT issue. It's an operational issue. It's a very big project. We built upon our very solid experience of our people here in-house that have done this before and know what they're talking about. We do not anticipate anything else than we would be very successful because we have been planning this for a long time. This is not something we dreamt up last night. Our focus is in the short term, going on this making sure that the operation functions, that we're transforming our focus of our marketing and commercial issues and our commercial efforts towards that market and basically making sure that we can operate this model. We're taking delivery of six aircraft, or we will operate six aircraft now in the summer. We're taking delivery of three now in the coming weeks. I think one of them has actually arrived in Iceland. Taking delivery of an aircraft is a little bit more complicated than just calling a taxi. This is something that takes months and is a lot of technical work on all the records, all the safety issues, all the technical details. This is a massive project that has been going on here for many months. There's training of our crew and everyone that has to operate these aircraft. This is a big focus. We will also have four additional aircraft that we will begin to take delivery of from next fall, which we could pull into operation if we would need them because of demand. Our plan is to put them into storage and basically store them until we need them next spring when we will grow from six aircraft to 10. These aircraft will be fully ready on our licenses, in our livery, just waiting to be pulled into service. If the market absolutely explodes and we see huge demand, then we have the capacity and we can add our capacity even more if we need it. I talked about how we'd monitor the dynamic business environment and what we would do and one of the many negative aspects of this invasion into Ukraine, which is obviously a very horrible situation, has been the fluctuation in fuel prices in the world, which not only impacts everyone in the world. The cost of everything is going up, the inflation is rising, and I think the public, not only in Iceland, but the global humankind basically will see that everything is gonna get more expensive. We want to counter this. We have already quantified the effect on us by this costing us around $10 million, the fluctuation and increase in fuel prices. This increase has been building up over some months or at least some weeks. It's not precisely timed to the invasion because there was some tension and then the fuel price rose. The fuel price has been very high for a very long time. This is not something that is happening in the last weeks, although, of course, it spiked really dramatically about 10 days ago, although it has declined a little bit. One thing is very clear, that the future is extremely uncertain and you never know how the development of the fuel price will be. If you knew, you would probably be doing something else than doing this presentation because you would have another economic reality because this is the key to the economic success, I guess, in the world for all businesses. What we want to do to counter this $10 million blow is to put on a fuel surcharge. This is a tool that many airlines use. Most of our major competitors have this in place. We have decided not to use it up until this point where we're basically forced to put it in place. This will come into effect next Monday. This will basically vary between destinations because there's different cost in destinations. There's different cost per sector length and various other factors. The price will be dynamic and fluctuate. This is something that is just we take it as a sign that we are running the company in a responsible manner, and we have to simply react to this kind of dramatic price increase, like I think all businesses have to do when you see your cost going up by tens of%, even if they are fluctuating. I talked a little bit about before the schedule control and the schedule adjustment and how we will adjust our program. This is not anything dramatic. We don't have anything in place to make any dramatic or big adjustments, but just to flag that we are always monitoring, we are always seeing what is working, what is not, and basically adjusting our capacity by those parameters. This is precisely the same as you would do in any other business. If you run a shop, you don't have products in your shelf that are not selling or not selling fast enough. This is, you're always adjusting and reevaluating what if your products or services are what the customers actually want. Another thing, which is just old school cost focus. I mean, we are a new company. We are focusing on cost. There is not a lot of overhead here, but we will be extra focused on keeping our operating costs low so we can basically meet our objectives through this turbulent situation. Þóra talked before about the fuel hedging situation. We were in the process of implementing a strategy that she outlined. The market simply just were too volatile. The outlook was too uncertain. This is a game that you never know until after if you are correct or not. We saw some airlines hedging prices last week at $1,100-$1,200 a ton. The price is lower now. It was higher then, so they were kings last week. Are they now? Will they be next week? We don't know. This is the point. It's really uncertain to make a bet, which is what this is, in this uncertainty. We will basically try to counter this blow by doing all the things, and like Þóra said before, implement our strategy when we see more visibility, and we can basically predict a little bit what's gonna happen. Because the examples show that it's really easy to lose money on this also, and this has been the case here in Iceland and with many of our competitors in our markets in Scandinavia, if you follow the media. We want to basically be sure that we know what we're doing and we're not acting, we're not putting in a medium or long-term solution to a short-term problem. This was our decision. If we can give some kind of a guidance of how we believe that this year will be, and of course, Þóra was going through our year of 2021, which was we basically had revenue half of the year. This year is also a little bit different because we are taking this expansion step now also in this middle of the year, so we will also only have, like, half of the year of some real revenue, so to speak. Everything we say has to be kind of taken into the context that we are in a ramp-up situation. We still nonetheless want to give a little bit of a guidance of how we see the future going. I've talked about how we are gonna counter the oil prices, and we have quantified that as costing us around $10 million this year. Nonetheless, we do believe that we can keep our CASK or cost per available seat kilometer under $0.04, which is very competitive, and a huge achievement. Basically going back to the fact that I said before that we are a very lean company. We have very low overhead, and everything we do is cost-focused. It always has to be said when we are talking about an airline, that when you talk about cost control, it never has anything to do with safety. Safety is paramount for all airlines, whether you're a low-cost airline or a legacy airline, whatever, everyone is functioning or following the same safety guidelines or safety rules. There's a lot of agencies and spot checks and regulatory frameworks that are keeping these things in focus. I just want to highlight the fact that when an airline CEO says we have to cut cost, it's never to do with those aspects. In fact, the business model of a low-cost airline is that folks have new aircraft, utilize them more. If you have new aircraft, they are technically more reliable than if you're flying older aircraft. Just wanted to kind of mention that in this context. Like Þóra said before, we knew when we began our operation and when we first listed it on the Nasdaq Iceland here in Iceland, that things were uncertain. We were doing this in the middle of COVID pandemic. Obviously, we didn't foresee the invasion. Hopefully, that's a short-term issue in a business sense, but we were extremely well-financed. Our cost position is very strong. We are always taking steps to protect it and manage it, and this is the reason that we don't see any need for going into any kind of capital increase or equity increase or basically seeking any extra funding for the company because we can simply see that we don't have any interest-bearing debt. Our sales are really strong, and the plan is basically working. The business model is coming online, like I showed you before, that the sales is coming in on the right places of the network and basically things are beginning to function like we designed them to do. This combination basically comes together in the fact that we are foreseeing and basically anticipating that we will be in operating profit in the second half of this year, which is also something that we take seriously and are confident about judging by the current environment and obviously we've seen oil prices and this is included, but I don't know what's gonna happen next month. The current situation, this is the indication and basically, again, like I said, we have to keep in mind that we are growing, we are starting our operation now in the real operation, I should say, the hub-and-spoke operation now in June. We will only really have the bigger revenue foundation or the flow the last six months of the year. This is really a sign of that the model and the setup of the company and the market share that we have gained for ourselves is working. Just to frame it, because we've talked a lot and this has been a lot of information. The presentation will be put on the internet or our website basically after this presentation. Just to sum it up, like Þóra said, the revenue of last year was under expectations. COVID to blame. However, the costs were as per we expected or as we planned. This is another indication that the plan is working and the management and the staff of the company are doing their job and that basic structure is functioning. We have a really strong balance sheet and no interest-bearing debt. Once we get into profit, this is a very interesting model. The bookings are strong. Like I showed you before, the trends are up and growing and we are comfortable about that. We can anticipate to be in a positive EBIT margin in the second half of 2022, which is great, and I want to take the opportunity to thank obviously our great team of people that have worked tirelessly around since, like, we started operation, obviously, but also quite a long time before that to make this happen because these things do not happen by themselves. Thanks a lot, guys. Me and Þóra are gonna take questions. If there are questions, they could be sent to ir@flyplay.com. Let's see if there is something. Yes. I mentioned that. "You mentioned that passengers can buy premium seats. Will there be an addition of a business class?" No. I was trying to explain that there is a premium leg space, basically. We have an all economy product, basically. All the seats per se are the same. The service is the same. We're only talking about different, basically three types of leg space, not premium seats per se, or not business class or any difference in service, just extra leg space. I would need it, Þóra would not. More questions. Yes. We had mentioned that we are using an aircraft, the Airbus A321LR, which we will use for our Orlando service. Question is, "Are you going into the same model as WOW? Is L.A. coming up?" No. Basically, the beauty of the aircraft or the Airbus A320 family or the A321LR is that it's precisely the same aircraft as we are using in our other destinations. The only difference is that it has an extra fuel capacity. It has, by definition, a longer range. This is an aircraft that we will use on all our other destinations. It's precisely the same as our other A321s. We are definitely not going into extending the network in the same manner like WOW did because, as many people know, they were using wide-body jets for that. That increased their cost quite dramatically, and the complexity of their operation. This is a completely different approach. This is just an aircraft with an extra fuel tank. Do we have more questions? Something is coming. "Can you give a guidance for the quarter one results?" We are not doing that at the moment. We only wanted to do a guidance for the full year, like I just went over. The real difference in the operation of the company comes basically after quarter one. We're already basically at the end of quarter one. We will report on that in May at our next investor call or earnings call presentation. At the moment, we're basically not giving out any financial guidance about that, apart from the traffic numbers that we have already released and we do at the end of each month. I think that about concludes. I think we have no other questions. I want to thank you very much and the presentation will be put on our website just after this. I look forward to talking to you again with Þóra in May. Thank you very much. Thank you.