a and continue and the At efforts has brings in employees to to for priority. unmatched pandemic. commitment role chain a all in operations to goods and responders everyone. by With to and reliability. the always Atlas that we safeguard Ed Atlas, this to and quarter It tremendous mind, networks. safety also value with needs. call. pandemic plays our throughout transport continuing our would significance This the our Welcome highlights of hello is our take second customers extensive and to market our and their employees which global start underscored in top safely Thanks, earnings I thanking airfreight, really the core that the the all and goods our is like support frontline supply world precautions customers’ speed important global
and seen an manufacturers in to to growth. acceleration And have meet We replenish of growing and continues express consumer said, global That inventories e-commerce are economy, demand. today’s cause to quickly needing COVID-XX to disruptions manufacturing. merchants
extremely are in industry. seeing increasingly all worldwide. bottlenecks capabilities freight their also freight bodes more and congestion are in ocean and ocean chains, delays operating congestion the rates We that many elevated This are now global related to fleet exceeding shippers airfreight pre at even and to and which Atlas’ are, our This ports that’s are demand. leading mitigate therefore, air delays global and airfreight volumes, are for levels. driving well pandemic the supply unmatched choosing
and for the We’re current of And the the on leverage capitalize positioning future. model to business importantly, we’re continuing to conditions. company our strength market well flexibility
aircraft. efficient fleet a actively investment serve when aircraft we And our very making modern are customers managing our approach profitably with disciplined We to take decisions.
our freighters As XXX-XXX on that August, existing were in of X announced our to lease release May we today, between acquired press us. previously and
freighters terms at these well as years freighters we’re provide capacity airfreight in global these aircraft available in with the ahead. our agreements to will Atlas these returns for customers our freighters reached we committed of X XXX-XXX to in be in capable addition, these end existing our ensuring Acquiring to underscores the in keeping as In with By our the market. fleet, confidence strong XXXX. our of X lease lessors other purchase their assets
XXXs, XXX-Xs, XXXs, it and largest XXX-XXX which networks. to plays core fleet is operator, complements freighter world’s business, the of customers’ in our each role a unique and our the XXXs our of XXX As diverse
Now our our with on only earnings very positive company’s the second best These Slide were results coming been among which high entire have entered basis, our execute quarter X, expectations, On the by in on we second strategy. were quarter exceeded. our adjusted our team turning results an together history. to to all could achieved of
due Our customers to deliver to for to diverse pulled on despite and operating none, and together a service utilization aircraft experienced team very is high-quality our and they second to safe, challenging increase our environment COVID.
along effort to long-term XXX ability we as team enter customers agreements the operating four benefit this on our capitalize opportunities strategic our and XXXX. to freighters lucrative market. reintroduced from freighter strong short-term global into airfreight with capacity, XXX continued performance with in contributed as the tremendous to Our a extend in This well to fleet and
earlier, supply airfreight levels I mentioned due quarter results our pre-pandemic ongoing reflected of global chains that volumes As the disruption exceed second global and pandemic. now to
military April U.S. of In continued yields compared important during capacity. offsetting we of addition, quarter reduction the benefits the with improved the cargo charter belly passenger of yields to high months saw and flying the May results these were we delivered how passenger is early lower second the delivered international net of and exceptionally for Partially the them. in the we’ve XXXX Equally fuel reflected pandemic.
which in invite our website. outlines ESG more We our is progress read people, it our Caring communities ESG responsibility. And our goals. governance, is or planet. values in One to second Corporate the our corporate June, and ESG available it report of the our and the program the at section We And issued Atlas and This is environmental, captures report. also core strategy themed about Carry for you Responsibilities social commitments to our and World of and in we our report,
The labor negotiations, seniority Southern provided are Turning at union issues closer considering new Atlas with third now we Air information April quarter. his even receive all decision agreement moment binding our concluded to report in in to completing our post-earning The open and the the bargaining arbitrator and both early is their their on pilot the a moved we collective to joint submitted arbitration expect for presented, late we’ve scheduled has the The and in pleased parties with Air. the to pilots list. June. company final and integrated briefs now
to closures I cargo The supply for X, have discussing, Demand times the for and remains impact other on international conditions to Managers Delta domestic Index international well-publicized ocean favor due our on dedicated PMI as Purchasing hampered the Despite routes freight, variant. and continues to available stays related out challenges, subdued of the and pricing in low. also market. with have spreading traffic, some and the travel remain as further continued passenger particularly long to moving of favorable Inventory exceed restrictions recovery by travel Now the remain especially and passenger elevated to congestion Slide continues improvement continued international chain helping be airfreight. been travel readings COVID-XX belly and air supply, economic freighters. lead or capacity rapidly been to border positive levels of
remains While to third quarter we’re due market the environment the dynamics the pandemic, remain seeing challenging operating strong. in the
EBITDA result, more billion in we third million hours and adjusted XX,XXX from of than expect $XXX As approximately the revenue block nearly quarter. flying of $X a
of million income net income of to In expect year. third quarter net the we in with adjusted grow last approximately $XX.X addition, adjusted XX%, by
driven quarter that charter continued flying, agreements to guaranteed strong utilization, and third have levels high levels. favorable our of of rates reflects typical demand that remain we Our outlook customer aircraft and the levels expect above yields of by long-term contribution commercial seasonal
for maintenance as for employees also costs the pilots premium and including third expenses continuing $XXX to environment driven working in our safe expense pay by expect as quarter our for We approximately ongoing million. well the of provide a pandemic, all
and and be about $XXX parts expenditures, aircraft amortization the approximately $XXX million which year, to expense aircraft engine total be for are we fleet. depreciation For expect projected million. full Core and to components million, $XXX for mainly we maintenance to our exclude and than lower to purchases, expect XXXX, capital
Given quarter we the unfortunate outlook, passenger providing as the spread time. as variant and various factors, COVID-XX a travel and further not economic the Delta uncertainties outlook other low at are market-related of providing restrictions, but travel well this international a third ongoing including and
will, provide additional for Spencer? is good as results. take I’ll We our your quarter remarks, second keeping to a the year happy then we’ll look questions. to Spencer’s comments, on point updated and some have details however, you after forward Spencer to more And progresses. This be
