hello Bill, Thank everyone. and you,
record million, increase an fourth from XXXX. slide quarter taxes of are the highlighted results XX% operations, on over an was of continuing totaled of adjusted which X. net fourth basis, quarter On Our income $XX
As income. Bill EBITDA net hours, block reflected record results revenue, adjusted noted, and our adjusted
also totaled segments million of substantially continuing higher operations million, net outstanding warrants. which On included on $XXX $XXX.X taxes reported from direct generated unrealized income of contribution. a total basis, Our an gain
Our adjusted fourth an included income rate effective earnings XX.X%. in the quarter of tax
we For approximately adjusted tax had full to year, the With XX%. of rate year effective we XXXX, full income our tax to respect be rate XX.X%. expect an
flights in bowl the rates. of an second driven we aircraft college XXXX for revenues start-up of the also incremental passenger reflected and were the universities. XX Cargo, charter, Looking and several of number DHL flying at in for throughout slide operated customers new and increases quarter X, during primarily including one increase the by in average the July. were football SF leasing increased of the as an season, as peak primarily Amazon February in volumes increase fourth for an the or flying higher ACMI In revenues revenues XXX cargo in XX reflected freighter in our dry season by increase total XXX-XXX segment one driven in and In end segment volumes, higher and Asiana Overlapping Express. placement which segment, higher well
and were primarily a Moving increase XX% offset fourth These reflected year. items. to totaled $XXX.X XXX-XXX key earnings by rates in contribution over slide million ACMI the increases volumes. two X, segment in quarter, partially previous the
in the and following during our higher of and First, military during quarter in The contribution heavy higher VIP from maintenance of crude offset excluding to methodology due higher in higher internal by the peak cargo the And ACMI allocation pilots. passenger Charter charter acquisition heavy of XXX-XXX including partially of an improvement in primarily volume-based a to yields, an wages our resulting ACMI period. increase second, period levels Southern was heavy contribution including customer. our cost maintenance. proportion military ACMI Both ACMI redeployment the former and work segment these the two costs to during attributed the December cargo demand aircraft flying commercial enhanced with from charter fuel reflected the and increases and rules aircraft to increase cost maintenance agreement from Air due flying
earnings. to our during have additional quarter dry the We primarily these placement grow reflected and used leasing, contribution the of In segment VIP higher our business Charter aircraft. XXXs
said Turning we is to And slide X, in you XXXX. Atlas. that can see as growth the growth multi-year for continuing
Cathay Cargo, move such the Express. performance addition to Nippon outlook annual of our new our beginning reflect that reflect place such as aircraft U.S. military through reflect have as customers with Air, XXX robust existing we of Our key Southern operations The and in put the and Express agreements and They customer the Cargo we and XX Amazon, years. over since strategic generated XXXX. DHL have rates with expansions Asiana and XXX the fleet our growth initiatives also SF into compound many Pacific,
As a revenue result, record driving volumes, and record earnings. we are record
We fast on and focused market e-commerce global strong are capitalizing and are growing our express, on position markets.
well-disciplined of leasing and and UI approach. contribution charter financial businesses, and new sheet Our ACMI the strength and a performances our leadership and dry growth initiatives reflect the balance our operating and the efficiency productivity also operations, of ongoing
a built platform for initiatives. solid We growth future have
fourth investments Turning and with equivalents, million. of totaling cash to term XXXX quarter we $XXX.X slide including ended short cash restricted the ten, cash,
used engines for by cash by investing on operating financing reflected to primarily position conversions XXX financing core related at offset upgrade obligations. cash Net and expenditures. payments offset capital by XXX cash cash XXX aircraft, during payments XXX from our provided Our and XXX freighter provided configuration, of for investing the and aircraft, the partially acquisition activities kits reflected used for financings and activities. December activities during primarily period, XXXX, by proceeds to XX, activities, of Net cash partially debt and spare
on a balance sheet. are maintaining focused strong We
we applied disciplined fleet so As great have financing. doing grown we In take of have to the our approach opportunities. slide advantage to shows, a
which low result, our debt of a all average almost a has of X.X%, rate is interest weighted a at fixed rate. As
the addition, a assets, our is related by aircraft in of have majority the debt. In excess vast which value secured
see, and lower fleet consistent which ended X.X XXXX, to the quarter in and the can to net increased the strong continue XXXX second to gradually in we per the quarter. you X.X to times times, continue As remained reflect also $XX approximately leverage we our added generate XXXX. began from leverage our We we EBITDA move significantly, flying half aircraft of to fairly debt ratio, net fleet down of while we from improve at our during benefit million ratio expect payments as
I'd Now to like it to Bill. back turn