Our principal business is aircraft operations, with a focus in wide-body freighter and passenger operations. We pursue this through two primary lines of business:

Freighter services provided primarily to major and cargo shippers, airport-to-airport  Service. We also provide Commercial passengers services In our ACMI business, we are paid hourly rate for the time the aircraft is operated or a minimum contractual rate when hour activity falls below minimum guaranteed levels.

All other direct operating expenses, such as aviation fuel, landing fees and ground handling costs, are absorbed by the customer, who also bears the commercial risk of load factor and yield.

Our Charter business continues to be a profitable but unpredictable line of business. Charter revenues are driven by the rate per flown mile. Charter rate is based on an audit of carriers and an assumed fuel price. Block Hours are difficult to predict and are subject to certain minimum levels. We bear the direct operating costs of Charter flights, but the price of fuel consumed in operations are not fixed.
We measure performance of Charter business in terms of revenue per Block Hour.