Rogerio Araujo: Hi, good morning, Pedro, Jose. Thanks for the opportunity, and congratulations for the results. A couple here, one is, just a clarification, so did you say that the whole fuel that is spiking the past couple of weeks is not fully included in the guidance, so how far would you be from the current oil price curve? And also on that matter, what does your guidance implies if you consider the current oil price curve, would you be in the range of 22 to 24? That’s the first one.
Jose Montero: No, no. Thank you, yes, thank you for allowing me to clarify it. The fuel guidance that we have is essentially the curve today. What I tried to say is that the RASM given that the fuel has increased so quickly, the RASM itself has not been able – we have not been able to adjust the RASM from an RM perspective over the last couple of weeks. But the fuel as it is in that 2.95 as we’re seeing the full year all in price for us for the entire 2023 with the latest curve that we have from earlier in the week.
Rogerio Araujo: Sounds great. Very clear. And my second question, if you could give us some information on which regions you see the strongest bookings, which are the weakest at this moment? Maybe always strong as you say, but can you kind of differ a little bit which one are you more excited about and which you are not?
Pedro Heilbron: No, like usual, there’s always – there’s always a region that might be weaker and they take turns, is not always the same, but across the board is very similar right now.
Rogerio Araujo: All good, thank you very much.
Jose Montero: Thank you, Araujo.
Operator: Our next question comes from Michael Linenberg from Barclays (sic) [Deutsche Bank].
Michael Linenberg: Hi, it’s Mike from Deutsche Bank.
Operator: I’m very sorry.
Michael Linenberg: Not a problem. That was news to me, too. I’m like, wow, I mean, everyone around here looks like DB, but anyway I guess two here, I think.
Pedro Heilbron: You should have known right?
Michael Linenberg: I’m always the last to find out about these things. So anyway, the – on your commentary, Pedro, just about around unit revenue, you talked about an increase in competitive capacity, something along the lines of double-digit range, are you maybe more specifically, is that capacity in and out of Panama City or is that what you’re seeing in some of the markets where you participate in the connecting flows?
Pedro Heilbron: Right. So, yes, so first what I’ll say is that, what has happened is that – I would say the rest – our peers in Latin America have caught up to the pre-pandemic capacity. It took them a little bit longer for different reasons, but everybody has caught up now. No, this is not Panama capacity. There is really no significant change or no change at all, maybe to only Panama capacity. But as we know – as you know, we play in the connecting field and so this has to be just with other hubs and also direct non-hub capacity in the region.
Michael Linenberg: Okay. And then, just – just kind of update us when you look at your split today local versus connect, are you sort of 40:60, 45:55? I always knew that it was pretty not evenly split, but where are you from a local versus connect basis today?
Pedro Heilbron: Yes. We’re more in the 70:30 range.
Jose Montero: 70 connect and 30 local.
