Hello and good morning. Thank you for joining us for this quarterly presentation where we present our results for the quarter number three in 2022. My name is Birgir Jónsson, and I'm the CEO of PLAY. I'm gonna go over the general picture and the overview of the business. Thora Eggertsdottir, our CFO, will then join us to go over the financials. I will then come back and do the outlook and the way we see our business develop. We would then very much welcome questions on the email address ir@flyplay.com, ir@flyplay.com, and we will try to answer them the best we can after the presentation. Without further ado, I want to start the presentation by giving you the latest news from PLAY. Last night we concluded and announced a share capital increase of around $15.5 million, raised from the 20 largest shareholders of the company. Of course, this has been announced with some formalities and legalities pending a shareholder meeting that will be announced today. Since these are the biggest shareholders, that's a formality. The goal of this share capital increase is to strengthen the company even further, as we are reporting, and you can see in our numbers the cash position of the company is relatively strong. It was strong yesterday. It is even stronger today. We are very encouraged to get this vote of confidence from our shareholders to continue to go into next year full of hope and optimism for the future as we can see that there is a lot of positive signs in our business. This is a great vote of confidence and encouragement for us. I want to also just break up the format a little bit of our presentation and go through kind of the summary of what we are really saying. I personally think that we can be really happy with the operating results of the company. We are gaining $1.3 million in EBIT, which is, I'm not gonna try to say anything different than that it's less than we anticipated. Having said that, the external market is quite challenging, so this is a defense victory as it is sometimes called. We are relatively happy with this, but I would really have liked to see a better result. I cannot deny that. We reached a revenue of $59.9 million. The net loss of the company after financial items is $2.9 million. We continue to be very competitive in our unit cost. Ex-fuel CASK after the quarter is $0.035, which is even lower than we anticipated. We are really happy that the underlying business model of the company is working, and our unit cost is low, which means that we can offer the best prices in the market. The total CASK, including fuel, is $0.055. Our revenue is $0.056 lower than we anticipated, and I will go through a few items to explain that. 85% load factor, which I think we can say that it's acceptable and in line with most of our competition. Again, we would have liked to see it higher, and our aim and target is to have it higher. For a new company in the first summer, in a new, completely new operating model, I would say that that's a very acceptable load factor. 310,000 passengers and generally 310,000 happy passengers, judging by our feedback and our measurements and surveys. We are also updating our guidance for the year-end. The situation is different from what we saw at the end of August when we last met. We are lowering our turnover target to $140 million. We are keeping the same amount of passengers, 800,000 passengers, but we are saying, sadly, that our operating results, our EBIT, will be negative in the second half of the year. We had previously stated that it would be positive, but a number of things kind of developed in a negative manner in the late summer and fall, which I will go over in a little bit more detail later. Just to kind of give you an overview of what is going on in the business is that I can say that what happened in late summer and autumn in a normal year, you would have a demand from relatively short-term booking passengers from continental Europe because this is the height of the summer vacation season in that market. Those passengers didn't really show up, to be honest. We believe, and I think that has also been reported in the Icelandic media, the simple fact is that the Icelandic tourism sector was at full capacity. People found the flights. We see them coming into our booking engine. We see them finding us online, and everything is functioning. They are not able to find hotels or rental cars or ground, you know, kind of, items to buy, so they are simply not choosing to come to Iceland at this point in time. It means that we had to shift our focus more from the to market, which gives us higher revenue, more towards the via market, the transatlantic market, which is a great market, but gives us lower revenue. We are keeping an acceptable load factor, but the passenger mix is not as we had hoped. This is happening in a short period of time. That's kind of the reason why we were relatively confident at the end of the summer, but then we saw it change low now in the first month of the winter and the autumn. Also there is a COVID factor and I had hoped that I wouldn't have to mention COVID too much in these presentations. The fact is that there's a lingering effect of COVID still in It was rightly reported through the summer that the airports that we are operating to, and most airlines are operating to in Europe and the U.S., had problems ramping up after COVID. It basically meant that revenue posts that we would previously have been quite reliant on were slower than we had hoped of coming online. I can basically say that the focus, because a lot of the people working at the airport were new, they were being trained. Our emphasis was on keeping our on-time performance, keeping the network going, and it meant that we were perhaps not charging for bags that people were traveling with, and basically leaving, you know, some revenue on the table to be able to basically keep the network on time and making sure that our passengers were happy and on time and basically the product itself was to their satisfaction. We can also say that we launched a new booking engine in I think the beginning of this year. We are still developing that, and we are still launching and will launch now in the coming weeks and months, some substantial functions to drive our ancillary revenue, which have been in development, and we have not been able to launch until now in the winter. It also means that these very important ancillary revenues have been slower coming into our mix than we would have wanted. Same I can say about the cargo, like with the airport, many airports simply didn't have the manpower to process cargo, especially with a new airline, you have a new handling agent. We all saw the news items in the summer about cabin crew and flight crew going out and helping unloading the baggage. It was simply too much to say, "Okay, now we also have 5 tons of fish here in the belly." We kind of and that was also a conscious decision to wait a little bit in integrating that. As I will tell you later, it's now growing and online. Finally, of course, we know that oil prices have been very high this year, and basically, that has given us maybe a hit of about $19 million-$20 million from the situation in January. That's a significant blow that all businesses, I guess, and we can see the global kind of news about that. For a new company starting, being quite vulnerable in the first real year, was a heavy blow, and that's also a negative factor in our business. Maybe the final point in all this is that still some kind of a COVID-related issue is that many passengers, tour operators and travel agents still had active credits from trips and flights that they had previously bought with some other airlines, and they were using those credits. That's maybe, as I will go into, also a factor in the scenario that we're not getting as many tour passengers as we had anticipated. Thankfully, as I'll also show later, that's also changing quite rapidly. This is why we are happy to give some kind of a guidance and again, with all things being equal, current conditions and all kinds of disclaimers about that as these things are explained. We have a relatively clear picture of how we see the next year developing. We will turn over about $310 million-$330 million next year. We will have about 1.5 million-1.7 million passengers, and we will have 800,000 this year. That's quite a steep increase. We forecast to see our EBIT positive and in fact over 5% for the full year. That's for a year that we see that we go into with six aircraft going up to 10 in the spring. We can say that this is kind of the first year of the real business model at some scale, is something that we anticipate to see. Why are we saying this? Like I said, we have reason to believe, and we have data to suggest that our ancillary revenue is growing, both for the reasons I mentioned, cargo, airport sales and those kind of things, but also we have some very significant digital solutions that we are launching now in the very near future. We see a very clear growing tour booking trend for the winter and next year. This is giving us a higher yield, higher revenue. Cargo operation is now launching and growing. I mentioned the airport sales. This is just with more operational stability, more experienced staff, and also some digital solutions that we are implementing. We are seeing that growing already. Also just a strengthening of our distribution network digitally. We are going into you know, you can buy our airfares and tickets at more places. And basically you know, we have a more mature kind of sales structure and network, which we have been developing and investing in. We are seeing very strong booking activity from incoming travel agents, from basically tour operators that are selling packages to Iceland, and they usually work quite a lot in advance. That's kind of a business that you need to have time and also build trust in the market, which we are very happy and thankful for, that we're seeing happening. Also, of course, the PLAY brand is just being better known and kind of our general awareness is more in our destinations, and that's resulting in an improved load factor and revenue. Also, larger connecting network. We now have six aircraft. There's three aircraft going to the U.S. in the morning and feeding into the European destinations. Next year, we will have 10. So we will have, like, probably six aircraft going to the U.S. and feeding into the European network at the frequency and at the destinations. That will also just kind of give us a positive network effect. Also, the capacity in the Icelandic tourism sector seems to be improving. More hotels, more Airbnb apartments are coming online and just more people are working now. This happened quite fast after COVID, so there was a capacity issue clearly. These travel credits are kind of being expiring from the market and diminishing. So into the quarter, 311,000 passengers. We had 85% on-time performance, which also is very good for our passengers, but also means that our cost of irregular operations, cancellations, kind of cost that is incurred by having delays is quite low. We have six aircraft, 85% load factor, which is, I think, quite acceptable, and this is the mixture of passengers. We have about 39% of our passengers are people that are basically stopping in Iceland for one hour in the mornings or afternoons. This is great, but we would like it to be slightly lower, especially in the summer. From passengers is 32%, which is quite strong, and I will also go into detail about that. There's the to passengers, which is 29%, and we would really like to see that growing at the expense of the via passengers and thankfully seeing that trend happening already. Quickly going into this, I mean, this is the first quarter that the company is at some kind of a scale. We are about 110,000, 108,000 passengers, 92,000 in September, 92,000 again in October. Load factor is, I would say, respectable, 87%-88% in July, going down to 81.5% and 82% in October, which is again not bad for this kind of time of year and our on-time performance is quite strong. We are launching new destinations. We launched Washington Dulles in the period. Baltimore has been a strong market for us, so we are strengthening our position there. We are hiring about 200 people to work on our growth next year. We got over 3,000 applications, so we are really thankful about that. I always say that this is the highest kind of compliment that you can ever get, is that people want to come and join your company and work with you. We are really thankful and humble about that. I'm not gonna kind of sing the same song too many times, but just to give you an idea what's been happening in the oil price. When we stand here at the end of August, we see that the forward curve of oil is going down, and we can kind of anticipate that, you know, we will have a stronger remainder of the year. However, as usually happens, that didn't happen and oil price spiked again and that's a big factor in the fact that we had to revise our year-end kind of forecast. Just to put the fuel price in a historic perspective, this is going back to January 15. It's around 600 there. When we are kind of launching the company, funding the company in maybe 2020, it was obviously at a historic low. No one kind of anticipated this would go up to 1,400 for a big part of the year. When you get like a hit of $19 million or $20 million within one year to a new company, obviously I would be kind of crazy to say that that doesn't make a difference. It's very kind of responsible for us to simply acknowledge that and take measures in defending ourselves against that, which we have now done with this share capital increase. Okay, we have not gained as big of a share of the to passengers as we had hoped. Again, I have maybe touched a little bit on that, and I will do that a little bit more later. If we have 14% of the capacity now in September, for example, or 13% in the summer of all movements in Keflavík, we are only getting about 5%-6% of the incoming foreign tour passengers. This is something that we need to work on, and this is a target for us to increase. Thankfully, we are seeing that trend being reversed. I already said that our mixture of to, from and via is slightly skewed. We would like to see the via passengers lower, but you can also take it as a positive sign that our distribution is working. When we see a problem with the tour passengers, we can shift it, so we can get the right kind of load factor. We can drive the utilization of our aircraft up by shifting the mix and focusing more on the via traffic. This is not all bad, but in a perfect world, which is the world that I want to live in, that this did not happen. This is basically one of the reasons why we are confident that we will see this trend being reversed. All these pictures are quite, maybe, can be complicated, and of course, this presentation will be put on our website afterwards. Basically what it shows you is that we are selling as many tour passengers to Iceland as we were doing in the summer, before the summer. We're selling as many more passengers to Iceland in the winter, and this is going on at the end of March next year. It doesn't even account for the summer. We can say that the problem that I was describing with the via passengers and with the tour passengers, once the capacity in the Icelandic tourism sector changes or solves a little bit, people are coming and they are booking with us because the prices are better. Having said that, I want to ask Thora to come here and give us an overview of the financial results, and then I will come back and tell you about the future. Thank you very much. Thank you, Birgir. I'll be going over the financial results for this year's third quarter, which was the first quarter, which PLAY reports a positive operating profit in which we are very proud. Total revenue in Q3 was $59.9 million and increased substantially between quarters in line with what we had expected due to seasonality and following a steep ramp-up in the operations. Average yield was, however, lower than expected, with both airfare and ancillary underperforming. EBIT was positive in Q3, as expected, as the company continued to reach further economy of scale and due to seasonality. High fuel prices, however, continued to have a negative effect on financial performance. We are proud of the fact that all cost items continue to improve, partly due to strict cost control. PLAY's financial position remains strong, with no external interest-bearing debt, a cash position of nearly $30 million, and equity ratio of 12.1%. Income statement. Total operating profit for the period amounted to $1.3 million. Total revenue in Q3 was $59.9 million and grew by 84% between quarters. Revenue, however, underperformed in late August and September with airfare and ancillary revenue being under expectations. Operating expenses, excluding depreciation and amortization, amounted to $49.3 million. Fuel cost accounting for 48% of operating expenses due to continued high fuel prices. During July and August, there was still some disruption costs relating to the difficult situation at European airports that struggled with staff shortages and subsequent delays. Operating income. If we look at the developments of our operating income, we can see our unit revenue is increasing, as was to be expected with the expansion of the network and hub-and-spoke model. Unit revenue reached its peak in July and was $0.067 but decreased more than expected in August and September, going down to $0.041. Unit revenue, however, is increasing, and we foresee that to increase again in October. Average yield, which include airfare and ancillary in Q3, was $192 per passenger and increased by 7% between quarters. Ancillary revenue per passenger remains similar between quarters, which is still affected by low demand in cancellation protection and continued demand for carry-on bags rather than checked-in bags. Airfare revenue amounted to $46.2 million, representing 78% of PLAY's total revenue. Ancillary revenue amounted to $12.1 million or 22% of revenue and decreased slightly between quarters due to reasons just mentioned. Since launching our hub-and-spoke model, there has been a shift in currency combination, where the portion of USD revenue has increased and in Q3 represents 36% of our revenue. Operating expenses. When looking at our operating expenses, excluding fuel and emissions, we continue to see a positive development of decline, which is in line with what we had anticipated. CASK, excluding fuel was $0.031 in Q3, and we are very proud of this achievement, in maintaining low CASK levels. CASK excluding fuel results in Q3 show that with six aircraft in operation and having reached some economy of scale with the hub-and-spoke model and strict cost control, we are very convincingly reaching our target of keeping CASK levels excluding fuel under $0.04. This is critical for our future profitability and proves that our efficient cost structure and efficiency is working. This EBIT bridge shows the development of EBIT as units per ASK between quarters. The graph shows us that revenue and underlying operational costs items are improving and contributing to an improved EBIT. This shows us that we are on the right track and our underlying business model and structure is working. Balance sheet assets amounted to $327.6 million compared to $204.1 million at the year-end 2021. The six aircraft joined the fleet in July, and therefore a new lease agreement was included among right-of-use assets, which amounted to $239.9 million. Trade and other receivables amounted to $22.1 million and increased by $15.4 million, which was mainly due to increased sales and related, and relates to acquirers' unpaid ticket sales to PLAY. PLAY's cash position was $29.6 million, consisting of restricted and unrestricted cash, along with securities. Liabilities increased in the period due to the liability relating to the additional aircraft and a significant increase in deferred revenue compared to year-end 2021. Deferred revenue decreased, however, between Q3 and Q2 by $16 million, which was to be expected due to the seasonality of the business. Deferred revenue is expected to increase again in the coming months as travelers start booking for next summer. Cash flow. Cash and cash equivalents again amounted to $29.6 million, including restricted cash of $6 million at the end of Q3. Positive operating cash flow before adjusting for changes in working capital was $10.6 million in Q3. Negative contribution of $8.8 million in working capital was mainly due to decrease in deferred income and trade receivables at the end of Q3 compared to Q2. Paid finance income and expenses were net negative by $3.6 million, which leaves net cash flow from operations negative by $1.7 million. Cash flow used on investment activities was $2 million, of which $0.5 million was due to deposits paid on leased aircraft. Intangible investments amounted to $1.5 million and were related to investments in IT systems and infrastructure. Cash flow used in financing activities was $4.1 million, which consisted of repayment of lease liabilities. Fuel cost increased by over $7 million between quarters, $9.6 million of which were due to increased volume. Fuel prices lowered somewhat between quarters but still remain at high levels. With hedging gains, fuel price had a positive effect on total, of total $2.6 million during the quarter. Our aim is to continue rolling forward our hedging strategy of hedging 30% of estimate, estimated consumption one to three months forward, and 15% four to six months forward. To summarize, all in all, Q3 results were positive but undeniably impacted by the high fuel prices and underperforming revenue numbers in late August and September. That's it from me, so I'll hand it back over to Birgir, who's going to go over the update and outlook. Thank you, Thora. As Thora mentioned, we're a low-cost airline, and we need to keep our cost low. The big positive news in all this, we have seen it before actually, but it's great to see it again, is that we are quite successful in keeping our cost low. This is why we're reducing our cost target from being under $0.04 to being under $0.035, which is the reason why we will be able to offer the best fares in the market in a sustainable manner. One of the things I already mentioned is the network effect that we do believe, and it is, it's a proven fact that will kind of result in higher load factor and higher yield in our network. This is quite a complex picture that basically shows that in the summer of 2022, we were operating six aircraft, but we had 27 connecting possibilities. Next year, with 10 aircraft, we will go up to 90 connecting possibilities. The easy way to explain that, like I actually did before, is that if we have a European destination, we will feed into that destination from six North American sources, which is easier to do than if you're trying to do it from three sources. The pressure of us having to find the passengers in three markets is relatively lower if we increase the markets. Of course, this is one of the reasons why the scale is important in this network. As we gradually increase the number of our aircraft, the network effect will be positive. Just to show you how we quantify this. Forward bookings are strong. Just like we always say, you know, and try to show that we are looking at a more stable booking environment, a more stable revenue source than we were doing last year. Of course, there's many reasons why the last year was different from this year and so on, but at least it's comforting to see that it's working. It would not be good if it was the other way around. Importantly, reservation from the travel trade is really strong, and this is now quarter one, quarter two. We're seeing now that those tour operators that are selling packages and tours to Iceland are coming towards our product simply because we can offer them better prices than the competition because we have lower cost. That's a very important thing for us, and maybe to be honest, one of the things that we kind of underestimated a little bit this year, but it's very comforting to see this coming into the network in the coming months. I mentioned cargo operations just to show you that we really didn't start that until now, this September and October. It's growing rapidly. This is mostly fresh fish going from Iceland. We take it seriously. We don't want the product to be spoiled, so we want to take it in small but very sure steps, and it's good to see it growing, and I foresee this to be a significant revenue factor or revenue boost for us in the very, very near future. Now I have been saying that we need more tour passengers. What is very, very comforting to see and encouraging to see that we are getting a very good share of the Icelandic outgoing markets. While we have only 14% of the capacity in Keflavík, about 30%-32% or 35% there in August and in the height of summer of Icelandic people going abroad are choosing PLAY. That's something that we are very, very happy about, grateful and humbled and take very seriously, and we want to build upon this statistic. A big reason for that is that we have focused a lot on the leisure destinations for Icelandic people, meaning you know the sunny destinations, Spain, Portugal, Canary Islands, and those kinds of destinations. Here you can see how our capacity is in relation to our competition. It's quite a lot of our production going into these markets. As I also said, these are the markets that our business model is perfect for. Our unit costs are low, so we can put a lot of capacity into the market, offer good prices, which will give us a good margin and have a positive financial impact on our business simply because people are usually not choosing premium products, premium economy, business class, or those kind of products. This is economy. This is perfect for low cost. Here is where we are strong, and we are getting more stronger in this market. We have already announced that we are going to Porto in Portugal. Lisbon for us was a big hit this year. We are adding Porto to the mix, and perhaps we will have some more surprises in the coming weeks and months. This is a sector that we're building on and want to be even stronger. We already also announced Athens, which is a historical thing because this is the first scheduled flight from Iceland to Athens, both to and from traffic. Leisure destination for Iceland is going to Greece and the Greek islands and those kind of very established and great summer vacation spots. This is also a via destination. We are also able to tap into traffic between the U.S. and Greece. We'll announce flight to or begin flights to Stockholm in Sweden. We'll begin this in March next year. Swedish people are our cousins, Scandinavian country. Prices there are really high. It's really expensive to fly from Iceland to Stockholm. For some reason, it's very cheap to fly from Iceland to Copenhagen, very similar destination. For some reason, prices are higher, perhaps because it's lower competition. We want a piece of that market and we'll get it. We are also launching flights to Hamburg in Germany. Again, a via destination U.S., German tourists coming to Iceland, always a big portion of our visitors each year. This will be a huge success, I suspect. We will have a few more destinations to announce actually, because we will have a lot more capacity in the coming year. This is our destination network as it stands now. It's just getting bigger, getting more dense, both with new destination and more frequency. This is just a good picture to show you where we are placing our bets and where our markets lie. Of course, by adding new aircraft, more seats in our aircraft and so on, we are adding our production capacity quite a lot. We had about 200,000 seats in 2021. We had about 1 million seats in 2022, and we will go up to nearly 2 million seats in 2023. I think that now this next year, 2023, we are seeing PLAY operating at some kind of a scale. We're seeing economies of scale. We're seeing more maturity in our revenue basis, and basically this is going to be the year that we see the company and the business model functioning at full capacity in our markets. Takeaways, first operating profit in our first real quarter, which I'm going to emphasize again is a very big thing for us, and we can see other startup airlines in the world not achieving this. I think that we can also be quite happy that we are doing a good thing here. However, we will have a negative operating result and profit in for the full year. 18,000 passengers, turnover about $140 million, which is about ISK 20 billion, I guess, around about that number. Really successful in driving down our operating cost, and we are seeing as I have kind of demonstrated that our revenue base is developing positively. Next year, $300 million-$330 million turnover, 1.5-1.7 million passengers, and an EBIT margin of at least 5% or greater. Thank you very much for that. Again, Thora, if you would like to join me, and we will take some questions if there are questions. There are no questions, at least for now. That's gotta be a sign that we have been very successful in communicating our message. Thank you for that. This presentation will be put on our website just in a few minutes. I want to take the opportunity to thank Thora for her great contribution to PLAY. This is gonna be her last quarterly presentation. She's leaving us, and I wish you very good luck in your next adventure, and thank you very much. Thank you. You guys, I will see you when we present our next quarter in a couple of months. Thank you very much. Thank you.