start I'd the joining you call. earnings by humanitarian Ukraine. and Ed, for horrific all like thank our in crises Thanks, acknowledging first-quarter unfortunate and to
with helping very as region, relief many our provider been a with critical those of thoughts airlift thank the Atlas these of release team the U.S. able results. into we've by to delivering participate At times. to the outstanding the we've and to We're that grateful commitment to part been supplies efforts. important people to supply organizations U.S. is ongoing all during moving Military, these also these supporting doing entire difficult Atlas Atlas, Ukraine missions. and providing I'd their for Our like are the airlift government's leading significant in
the business able been delivered a we've very Atlas value as As the demonstrate, chain. results continue the show of airfreight challenging a that's we even positive proven supply has of times. and of resilient global to most And through to component critical consistently
of services our as and even return, airfreight to the logistical and reliability, And up. in attractive you for and we're will base services. quarters, more with customer perform contracts amount sustaining recent of flying airlift, for and seeing a discussing diversifying guaranteed rates in particularly as challenges pandemic that back ever-changing been We're driving is slow passenger provide that flying. And as and increasing related long-term and the to long-term in dedicated need capacity aircraft levels -- assets we speed is and forward, remain, enables vital under manufacturing flexibility, Asia Our expanding succeed be customer which our through customers ramps the continue and going with landscape. to the Atlas’ shift demand we've
and to a us majority position overwhelming for bodes contracts. for enter it's dedicated in important our enhanced freighter reiterate In the well Which or that of first our is This fleet committed capacity. under our And long-term with the continue fact, years strong ahead. the for puts agreements to these all during customers now future. quarter, Atlas long-term Atlas
have strengthened net significantly sheet balance our dramatically we've our and front, improved leverage financial the On ratio.
and business deploy and healthy balance capital, attractive act to shareholders. returning quickly opportunities flexibility We to to on in the financial a cash including capital our have investing
XXX As investing customer new XXX-Xs excuse me, first delivered four our month. we've feet by our agreements, expect long-term demand. new fleet, cast world All placed been under be we dash-Xs world-class and adding four previously meet noted, of new the and to our later will have we're in this - four
We a of XXX’s, of purchasing we're to their on the throughout we've existing very the this forward end freighters, calls. and our year. placements sharing we also look have for shared details strong before, interest those as future in at XXX-XXX also new leases And five
we which of in The first acquired March.
adjusted the our report that we've despite caused on results Slide outstanding first-quarter challenges pleased both were I'm achieved first-quarter that by earnings. and X. to turning ongoing to is operational Now, This pandemic. for revenue new records the
higher reflected contracts. our results by Spencer provide numerous by including offset impact This driven higher details was results and new strong the long-term on partially agreement. costs, will bargaining QX pilot collective moment. in new of more Our our a yields, extended
our Slide on on Now, to moving outlook X.
freight As be -pandemic for ocean conditions to and freight new new I and importantly pre lanes. be And flying. favorable. to will there trade of it the volumes capacity, leisure networks vulnerability manufacturers cargo including air in a now are more the expect number mentioned and are to a limited passenger customer as base Capacity continues other-related to we freight. prior in turning continuing dedicated we efficient earlier, exceeding of expect And air favor compared networks. of entering of to more remain look need forwarders market, does, the continuation are freighters demand less and to due the freight older, This disruptions levels. customer passenger constrained Global need particularly and ports chain retired. slowly freighters to resiliency air market result The supply freighters out different as major belly congestion while are than will dedicated return. of also favor point-to-point will Passenger pandemic to aircraft more at Asia networks remains will
flying the full bloc XX,XXX quarter, anticipate hours. to first-quarter performance from exceed in we second In more revenue In for we quarter than the year. excellent our and to addition results, strong expect $X.X billion second the
In with income net EBITDA adjusted of approximately expect of grow high-single-digit year. in adjusted $XX.X and of million net quarter adjusted $XXX to million income our this addition, percentage the first by a we compared
Our portion market. yielding reflects in full-year contracts, well outlook charter long-term strong the under the as ad-hoc significant business yields high of as earnings our
expect As more a result, XXXX block $X and to than adjusted about billion. of XXX,XXX approximately we billion fly of $X.X hours revenue in EBITDA with
to In approximately of This addition, full-year net XXXX first that includes we income second of with year. anticipate projected approximately compared the XX% in of XX%. rate adjusted half this the of a half tax adjusted improve
we and amortization in million. similar depreciation to be expense maintenance to XXXX, around $XXX to be aircraft expect We XXXX and that of anticipate
fleet. still aircraft pay Our to outlook exclude flying the locations to mainly core expenditures, million are for engine components cost which projected $XXX and million, capital pilot higher purchases, from COVID. includes for including in $XXX new by pilots our and total parts additional collective significantly our agreement, also This for impacted bargaining approximately
I over update Before to share our the we regarding repurchase to in release the turn morning program. call this our like shared Spencer, press I'd discuss
through completed. began As I'll February, million announced this top repurchase questions. call in share be like repurchased share approximately million shares entering pass happy then $XXX capital was We now X.X have which to additional million now accelerated priority. take program, we repurchase total, a be Returning your to month. Spencer. we've In of we'll recently by established $XXX Spencer, into and a the to the some continues to over his and I'd shareholders comments, remarks, after program.
