Looking back on Delta’s 45 years flying to London

Delta Air Lines is celebrating 45 years of service from the U.S. to the U.K. with a look back and a look forward.

The world looked and sounded different in 1978. Back then, flares were all the fashion. Charts on both sides of the Atlantic were dominated by John Travolta and Olivia Newton-John, with songs from film musical "Grease," while TV viewers were gripped by the feuding Ewing family in the Texas-based drama "Dallas."

As times have changed, so has Delta’s global presence. When Delta began flying nonstop from Atlanta to London Gatwick on April 30 that year, it was the airline’s first international flight that touched down using a three-engine Lockheed L-1011, better known as a Tristar. The airline’s international expansion took off, and today Delta has become one of the world’s biggest carriers.

Airline cuisine has also evolved since 1978, when Delta used the start of its London flights to introduce a three-class experience – First Class, Medallion Service (business class) and Economy Class. Today, flights to the U.K. feature three or four product experiences, including Delta One, boasting the freshest regionally sourced ingredients and chef-curated meals. Additionally, Delta is offering an enhanced Delta Premium Select experience, which offers customers an elevated dining experience.

Always entertaining......

In-flight entertainment has advanced, too. Kay Carpenter was a Delta flight attendant on that first London Gatwick flight and is still flying with Delta today.

“This was our inaugural trans-Atlantic flight; we were all excited as Delta took its first leap across the Atlantic. And to add to the excitement, we were showing our first-ever in-flight movie. It was "Oh, God!" with George Burns and John Denver. Today, customers have a huge range of film, TV and audio they can watch at their seat, as well as Wi-Fi access on all flights.

Delta flight attendant Kay Carpenter.

“In fact, so much has changed since that first flight. We offer our customers a much-enhanced service with a wider selection of meals, and seating options, personalized in-flight entertainment and just a more comfortable experience overall. With London being our first trans-oceanic flight, it helped us learn what our international customers wanted as we worked to make Delta the airline of choice.

airBaltic launches summer season 2023 from Tallinn

The Latvian government-funded airline, airBaltic has announced the launch of the summer season 2023 from Tallinn, with four new destinations!

This year the carrier has added the leisure destinations of Split in Croatia, Rhodes, Dubrovnik, and Heraklion.   

Thomas Ramdahl, Senior Vice President of Network Development at airBaltic: “We are committed to providing our passengers with seamless travel experiences and improving connectivity to and from our home cities in the Baltics. With the launch of the summer flight season from Tallinn with four new summer destinations, we are excited to offer even more options to our passengers. We are grateful for the invaluable contribution and cooperation of our partners, including Tallinn Airport, in making this possible. Moreover, this summer season already the third airBaltic aircraft is based in Tallinn, and, thanks to the growing amount of passengers, we are delighted to see that our market share in Tallinn keeps growing.”

Eero Pärgmäe, Member of the Board at Tallinn Airport: “The opening of a new route is a very happy day for the airport. Today we are celebrating the opening of four airBaltic summer routes which makes us four times happier. airBaltic is an important and long-term partner of Tallinn Airport. We are very delighted that this airline clearly emphasizes further plans to invest in Tallinn Airport and at the same time improve connectivity options for Estonian travellers. The market share of this company in Tallinn is growing, which means that our local passengers increasingly appreciate convenient opportunities to travel on the routes offered by it and high level of service.”

Photo by Jaanus Jagomägi on Unsplash

Michael T. Steen named as incoming Chief Executive Officer of Atlas Air Worldwide

Atlas Air Worldwide has confirmed that Michael T. Steen, Executive Vice President and Chief Commercial Officer of Atlas, has been appointed Chief Executive Officer (CEO) of the company, in line with the Company’s long-term succession plan, effective June 15, 2023. 

Mr Steen succeeds John W. Dietrich, who is retiring from the Company after nearly 25 years. Additionally, the company announced that Spencer Schwartz, Executive Vice President and Chief Financial Officer (CFO) is retiring from his role, effective June 15, 2023.

Mr Steen has more than 30 years of experience in aviation and logistics, including 16 years of executive leadership experience with Atlas. He has served as Chief Commercial Officer since 2007 and has been responsible for leading the Company’s strategy and growing market share, as well as developing and diversifying the Company’s roster of blue-chip customers. In addition to his role at Atlas, he currently serves on the Board of Directors at CHC Helicopters. A new chief commercial officer will be named following Mr. Steen’s appointment as CEO.

“Michael’s leadership experience, strong track record of innovation and success, and consistent focus on the company’s customer-centric mission makes him the ideal candidate to lead Atlas forward in its next phase of growth,” said David Siegel, Chairman of the Board. “On behalf of the Board, we look forward to working closely with Michael to execute on Atlas’ strategic growth plans and continuing to build on the Company’s strong commitment to safety, quality and service excellence.”

Joby Aviation Reports First Quarter 2023 Financial Results

Joby Aviation, one of those firms that are developing all-electric aircraft for commercial passenger service, has just released details of its First Quarter 2023 results. 

The company continued to maintain a strong balance sheet with $978 million in cash and short-term marketable securities at the end of the quarter, excluding approximately $180 million of net proceeds from its public offering, led by Baillie Gifford, which was announced earlier today and is expected to close on May 5, 2023. These additional funds are expected to be used to accelerate Joby’s early production, enabling the business to capitalize on near-term revenue opportunities without impacting the funds available to carry the company through to type certification of its electric vertical take-off and landing (eVTOL) aircraft.

Key operating highlights from the quarter:

First company-conforming aircraft is nearing completion and is on track to roll out, as planned, in the first half of this year

Signed a $55 million contract extension with the Department of Defense that includes the provision and operation of up to nine aircraft, with the first two to be stationed at Edwards Air Force Base by early 2024

A further three Area Specific Certification Plans (ASCPs) were submitted to the FAA, bringing the total to 11 of 13 ASCPs submitted. Two additional ASCPs were accepted by the FAA

Four U.S. Air Force pilots learned to fly the Joby aircraft, becoming the first uniformed personnel to fly an eVTOL aircraft through transition as sole pilot-in-command

Commenting on the results, JoeBen Bevirt, Founder and CEO, Joby, said: “Already in 2023 we’ve achieved significant milestones in production, testing and funding, and I’m incredibly excited about our progress as we move towards our goal of launching commercial service in 2025.

“The decision by Baillie Gifford to invest further in Joby is a testament to their long-term belief in the electrification of transportation and their track record speaks for itself. We couldn’t be more proud to have their support,” he added.

Kerissa Khan MRAeS elected President of the Royal Aeronautical Society

The Royal Aeronautical Society has confirmed that Kerissa Khan MRAeS has taken over as President of the Society at its AGM on 4 May 2023.

The AGM also elected David Chinn as President-Elect.

The President provides leadership of the Council and of the Society in pursuit of its objectives. They uphold the values, and reputation of the Society as well as the interests of the members. The President is an ambassador of the Society representing it at key engagements, influencing the global standing of the Society in furthering the advancement of aeronautical art, science and engineering.

“We are entering an exciting new era for aerospace, aviation and space innovation. We are the transformation generation pioneering novel ways to fly. This pioneering spirit is the foundation that the Royal Aeronautical Society has been built upon, bringing together the best innovators, disrupters, researchers and inventors who dared to make flight possible. The Royal Aeronautical Society has been leading the way since 1866, at the heart of the community that empowered the first flight by the Wright Brothers and the invention of the jet engine by Sir Frank Whittle, sparking the first and second aviation revolutions respectively. It is an honour and a privilege as President to stand on the shoulders of giants to convene and lead this global community at the forefront of the third revolution in flight. Once again, we will dare to make flight possible - sustainable, accessible and inclusive flight that addresses the challenges we all face today.” – Kerissa Khan MRAeS, President of the Royal Aeronautical Society.

United to triple Sustainable Aviation Fuel use in 2023.......

United Airlines is planning to use 10 million gallons of sustainable aviation fuel in 2023 – about three times more than 2022 and 10 times more than in 2019

United also welcomes new corporate participants to its Eco-Skies Alliance program, who will contribute to the purchase of sustainable aviation fuel

United has purchased more SAF and expects to fly more miles using SAF this year than any airline

The U.S. mega-carrier, United Airlines has announced that it will begin using a blend of Sustainable Aviation Fuel (SAF) on departing flights from San Francisco International Airport and is planning to use a SAF blend later this year at London Heathrow Airport, which could put the airline on track to use approximately 10 million gallons in 2023, nearly three times more than 2022 and close to 10 times more than 2019.

"It's remarkable to see that in just a few years United has exponentially increased its SAF use," said United Chief Sustainability Officer Lauren Riley. "While 10 million gallons of SAF in 2023 represents a fraction of what we need, we have also made big investments in producers that are using everything from ethanol to algae, to CO2, to help increase our available future supply. We believe these investments, along with our continued collaboration with policymakers, cross-industry businesses, and other airlines will help us scale this brand-new industry to achieve comparable success to solar and wind."

To date, United has invested in the future production of over five billion gallons of SAF - more than any airline – and as a result of today's announcement, the carrier will fly more miles in 2023 than any airline. United has used SAF blends at Los Angeles International Airport since 2016 and Schiphol Airport in Amsterdam since 2022 and continues to use SAF at those airports in 2023.

The SAF deliveries commenced at San Francisco Airport in April, with United receiving 1.5 million gallons of SAF for departing flights, the remainder of United's SAF supply will be used at Los Angeles International Airport and Amsterdam's Schiphol Airport. London Heathrow Airport is expected to begin receiving deliveries of SAF later in 2023. Once the SAF is delivered to London Heathrow, it will mark the first time United would participate in London Heathrow's SAF incentive program.

Eco-Skies Alliance Round

airBaltic's first anniversary of Tampere base with the launch of two new destinations

To celebrate the first anniversary of its Tampere base, the Latvian airline airBalt has launched two new destinations.

Tampere is the first base for the carrier outside the Baltics and has thus far proved to be a success. No doubt buoyed by Finland's own national airline Finnair, starting to reduce and consolidate domestic and regional flights.

airBaltic has launched two new direct destinations from the city of Tampere,  to Milan in Italy and the popular French holiday destination for the rich and famous - Nice. The airline connects Tampere with eight destinations and will continue to base one of its Airbus A220-300 in Tampere for the summer season.

Martin Gauss, President and CEO of airBaltic: “Exactly one year ago, airBaltic reached a significant milestone in the history of the airline, opening its first base outside the Baltics – in Tampere. We are glad to celebrate already one year of the base and the start of the summer 2023 season in Tampere together with our passengers, partners, and media. We continue to be committed to Tampere, our home city, and further improving connectivity to and from the region.”

Petri Vuori, Finavia’s Senior Vice President, Sales and Route Development: “We are happy to welcome airBaltic’s new routes to Nice and Milan at Tampere-Pirkkala Airport. They are a great addition to Finavia’s route network and strengthen the already wide range of connections from Tampere to popular destinations in Europe. We are also excited to continue our great partnership of the past year and inspire travel locally from and to Tampere.”

International health insurers Globality Health and ERGO-Bezirksdirektion Haus complement BARIG Business Partner Network

                          In aviation, the consequences of the Corona pandemic are still evident today. The entire industry finds itself in the midst of a profound transformation that is bringing numerous changes. Airlines together with partner companies are driving this transformation forward, thereby responding to the changing demands of customers, business partners, and employees. 

In this context, the Board of Airline Representatives in Germany (BARIG) is further expanding its cross-industrial network in a target-oriented way. With the internationally experienced health insurers Globality Health and ERGO-Bezirksdirektion Haus, which has its regional office in Dreieich near Frankfurt am Main, the BARIG community welcomes two new business partners who provide extensive global expertise in the insurance industry and support companies which are sending employees abroad to work on a short- and long-term basis. In this way, they facilitate, among other things, the fulfilment of the employers’ duty of care as well as the adherence to international compliance regulations. The new partners’ know-how supports BARIG member companies in being able to act with more contemporary flexibility, especially with regard to personnel management.

“Rarely before have there been so many challenges in our industry simultaneously, but they can be solved efficiently while working together with partners from other industrial fields. Cooperation across different sectors is a key to common and sustainable success,” Michael Hoppe, BARIG Chairman and Executive Director, explains. “With Globality Health and ERGO-Bezirksdirektion Haus, we welcome two renowned experts in our network that provide profound, international expertise.” 

Air Travel growth continues in March

Total air traffic in March 2023 (measured in revenue passenger kilometres or RPKs) rose 52.4% compared to March 2022. Globally, traffic is now at 88.0% of March 2019 levels, reports the International Air Transport Association - IATA. 

 

Domestic traffic for March rose 34.1% compared to the year-ago period. Total March 2023 domestic traffic was at 98.9% of the March 2019 level. 

 

International traffic climbed 68.9% versus March 2022 with all markets recording healthy growth, led once again by carriers in the Asia-Pacific region. International RPKs reached 81.6% of March 2019 levels while the load factor at 81.3% exceeded the March 2019 level by 10.1 percentage points.

“The calendar year first quarter ended on a strong note for air travel demand. Domestic markets have been near their pre-pandemic levels for months. And for international travel two key waypoints were topped. First, demand increased by 3.5 percentage points compared to the previous month’s growth, to reach 81.6% of pre-COVID levels. This was led by a near-tripling of demand for Asia-Pacific carriers as China’s re-opening took hold. And efficiency is improving as international load factors reached 81.3%. Even more importantly, ticket sales for both domestic and international travel give every indication that strong growth will continue into the peak Northern Hemisphere summer travel season,” said Willie Walsh, IATA’s Director General. 

International Passenger Markets

Asia-Pacific airlines had a 283.1% increase in March 2023 traffic compared to March 2022, continuing the robust momentum since the lifting of travel restrictions in the region. Capacity rose 161.5% and the load factor increased 26.8 percentage points to 84.5%, the second highest among the regions.

 

European carriers posted a 38.5% traffic rise versus March 2022. Capacity climbed 27.0%, and load factor rose 6.6 percentage points to 79.4%, which was the second lowest among the regions.

 

Middle Eastern airlines saw a 43.1% traffic increase compared to March a year ago. Capacity climbed 30.5% and load factor pushed up 7.0 percentage points to 79.4%. 

 

North American carriers’ traffic climbed 51.6% in March 2023 versus the 2022 period. Capacity increased 34.0%, and load factor rose 9.8 percentage points to 84.8%, the highest among the regions.

 

Latin American airlines had a 36.5% traffic increase compared to the same month in 2022. March capacity climbed 33.4% and load factor rose 1.9 percentage points to 82.8%. 

 

African airlines’ traffic rose 71.7% in March 2023 versus a year ago, the second highest among the regions. March capacity was up 56.2% and load factor climbed 6.5 percentage points to 72.2%, lowest among the regions.

March 2023 (% year-on-year) World share1 RPK ASK PLF (%-pt)2 PLF (level)3 Total Market  100.0% 52.4% 41.2% 5.9% 80.7% Africa 2.1% 66.1% 51.0% 6.7% 73.9% Asia Pacific 22.1% 158.9% 109.0% 15.3% 79.2% Europe 30.7% 37.0% 25.9% 6.5% 80.5% Latin America 6.4% 19.9% 19.8% 0.1% 81.2% Middle East 9.8% 40.4% 28.3% 6.9% 79.4% North America 28.9% 16.9% 15.9% 0.7% 83.7%

1% of industry RPKs in 2022   2year-on-year change in load factor   3Load Factor Level

33 years ago, the 4th of May became a significant and special day in the history of Latvia. Happy independence day. 

Annual Safety Review 2022 released from UK's : Air Accidents Investigation Branch - AAIB

The AAIB Annual Safety Review 2022 has been published. It includes information on occurrences and the safety action taken or planned in response to AAIB investigations concluded in 2022.

The Air Accidents Investigation Branch has published its Annual Safety Review which includes information on occurrences and the safety action taken or planned in response to AAIB investigations concluded in 2022.

The AAIB received 778 occurrence notifications (compared to 746 in 2021, 553 in 2020 and 826 in 2019) and opened two formal and 27 field investigations. A further 78 investigations were opened by correspondence.

Nine of which were into fatal accidents in the UK resulting in 11 deaths.

In 2022, the AAIB published two Special Bulletins, 27 field investigation reports and 85 correspondence investigations.

There were nine investigations into fatal accidents which involved 11 deaths. All but one involved General Aviation (three light aircraft, two microlights, two gliders and one helicopter).

The Branch issued 19 Safety Recommendations, including two which were classified as safety recommendations of global concern (SRGC).

The Review provides details of 101 significant actions to enhance safety taken proactively by the industry in 2022 as a direct result of AAIB investigations.

The recurring themes for General Aviation continued to be loss of control in flight during aerobatics, partial power loss or flight into clouds by unqualified pilots.

The dominant recurring themes in the accidents and serious incidents involving commercial air transport aircraft were mishandling of the aircraft during landing or go-around, complex electrical failures leading to system degradation, and failures to achieve take-off performance.

The Annual Safety Review also contains articles on 100 years of Accident Investigation Regulations and the use of test flights during Aircraft Accident Investigation.

Reflecting on 100 years of accident investigation regulations, Crispin Orr, Chief Inspector of Air Accidents said “It is remarkable how much aviation safety has improved over the last 100 years through incremental changes to way that aircraft are designed, manufactured, maintained and operated. Almost everywhere one looks across the aviation eco-system there are physical systems and standard practices that have been introduced to improve safety as a direct result of learning from previous accidents and incidents. This has been underpinned by an open reporting culture, and a clear focus on improving safety without attribution of blame.”

East Midlands Airport receives a Disability Smart Award

East Midlands Airport (EMA) has won a prestigious Business Disability Forum ‘Disability Smart Inclusive Customer Service’ award in the category of inclusive customer service.

Disability Smart Awards recognise the work of teams and individuals who have gone above and beyond to improve the experiences of disabled people. Ten Disability Smart Awards were presented at the annual event in London. Other winners included global brands, a UK charity, a social enterprise, and a local police force.

Chris Drury, Head of Customer Services at EMA, said: “On behalf of the entire team who work hard to ensure that all customers have the best possible experience when using this airport, I am thrilled to have received this award. It shows our recent investment is being recognised and, more importantly, passengers who rely on the support of our assisted travel team can easily access travel for which there should be no barriers.”

East Midlands Airport was congratulated for its innovative and inclusive approach to customer service. The airport has invested heavily in new specialist equipment for disabled passengers. It has introduced easier ways for customers to communicate with the Assisted Travel team wherever they are in the airport.

Airbus reports First Quarter (Q1) 2023 results

127 commercial aircraft delivered in Q1 2023

Revenues € 11.8 billion; EBIT Adjusted € 0.8 billion

EBIT (reported) € 0.4 billion; EPS (reported) € 0.59

Free cash flow before M&A and customer financing € -0.9 billion

Airbus reported consolidated financial results for its First Quarter (Q1) ending 31 March 2023.

“The first quarter confirmed strong demand for our products, particularly for commercial aircraft. We delivered 127 commercial aircraft, which is reflected in the Q1 financials. The quarter also benefited from a good performance in Helicopters,” said Guillaume Faury, Airbus Chief Executive Officer. “We continue to face an adverse operating environment that includes in particular persistent tensions in the supply chain. Our 2023 guidance is unchanged with commercial aircraft deliveries expected to be backloaded. We remain focused on delivering the commercial aircraft ramp-up and longer-term transformation.”

Gross commercial aircraft orders totalled 156 (Q1 2022: 253 aircraft), with net orders of 142 aircraft after cancellations (Q1 2022: 83 aircraft). The order backlog amounted to 7,254 commercial aircraft at the end of March 2023. Airbus Helicopters registered 39 net orders (Q1 2022: 56 units) which were well spread across programmes. Airbus Defence and Space’s order intake by value was € 2.5 billion (Q1 2022: € 3.2 billion).

Consolidated revenues decreased slightly to € 11.8 billion (Q1 2022: € 12.0 billion). A total of 127 commercial aircraft were delivered (Q1 2022: 142(1) aircraft), comprising 10 A220s, 106 A320 Family, 6 A330s and 5 A350s. Revenues generated by Airbus’ commercial aircraft activities decreased 5 percent year-on-year, mainly reflecting the lower deliveries, partly offset by the strengthening of the US dollar. Airbus Helicopters deliveries increased to 71 units (Q1 2022: 39 units), mainly driven by the Light helicopter segment. The Division’s revenues rose 26 percent, mainly reflecting deliveries and a solid performance across programmes, favourable mix effects as well as a good start to the year in services. Revenues at Airbus Defence and Space decreased 6 percent, mainly driven by lower volume in Military Air Systems and in Space Systems. One A400M transport aircraft was delivered in Q1 2023.

Consolidated EBIT Adjusted – an alternative performance measure and key indicator capturing the underlying business margin by excluding material charges or profits caused by movements in provisions related to programmes, restructuring or foreign exchange impacts as well as capital gains/losses from the disposal and acquisition of businesses – decreased to € 773 million (Q1 2022: € 1,263 million).

EBIT Adjusted related to Airbus’ commercial aircraft activities decreased to € 580 million (Q1 2022: € 1,065 million). The decrease reflects the lower deliveries, a slightly less favourable hedge rate compared to Q1 2022 and investments for preparing the future. Q1 2022 included the positive impact from retirement obligations partly offset by the impact resulting from international sanctions against Russia.

The ramp-up on the A220 programme is continuing towards a monthly production rate of 14 aircraft by the middle of the decade. On the A320 Family programme, the Company continues to ramp-up towards a monthly production rate of 65 aircraft by the end of 2024. The recently announced decision to add a second Final Assembly Line in Tianjin will increase global industrial capacity to 10 Final Assembly Lines for the A320 Family, supporting Airbus' plans to produce 75 aircraft per month in 2026. The flight test programme of the A321XLR is progressing and entry-into-service is expected to take place in Q2 2024.

Air Cargo drops during March advises IATA

                           The International Air Transport Association (IATA) released data for March 2023 global air cargo markets showing a continued decline against the previous year’s demand performance. This trend began in March 2022.

Global demand, measured in cargo tonne-kilometres (CTKs*), fell 7.7% compared to March 2022 (-8.1% for international operations). This was a slight improvement over the previous February’s performance (-9.4%) and half the rate of annual decline seen in January and December (-16.8% and -15.6% respectively). At this point, it is unclear if this is a potentially modest start of an improvement trend or the upside of market volatility. Irrespective of this, March performance slipped back into negative territory compared to pre-COVID levels (-8.1%). 

Capacity (measured in available cargo tonne-kilometres, ACTK) was up 9.9% compared to March 2022. The strong uptick in ACTKs reflects the addition of belly capacity as the passenger side of the business continues to recover. 

Several factors in the operating environment should be noted

Even with record low unemployment rates, the global economy continues to decelerate due to a combination of factors such as tightening global financial conditions, high levels of global debt, and supply chain problems including those linked to the war in Ukraine. 

In line with the weakening global trade, the Purchasing Manager Indices (PMIs) for new export orders at the global level remained below the 50-critical line for a full year as of March. China’s PMI retreated to below the 50-mark in March, following a slight improvement observed in February. 

The PMI for supplier delivery times indicates high inventory levels, which tends to have a negative impact on air cargo.

Global goods trade decreased by 2.6% in February; this was a faster rate of decline than the previous month of -1.0%.

“Air cargo had a volatile first quarter. In March, overall demand slipped back below pre-COVID-19 levels and most of the indicators for the fundamental drivers of air cargo demand are weak or weakening. While the trading environment is tough, there is some good news. Airlines are getting help in managing through the volatility with yields that have remained high and fuel prices that have moderated from exceptionally high levels. Looking ahead, with inflation reducing in G7 countries policy makers are expected to ease economic cooling measures and that would stimulate demand,” said Willie Walsh, IATA’s Director General. 

March Regional Performance

Allegiant reports its Income before tax in the first quarter was $74.4 million

The Allegiant Travel Company has reported the following financial results for the first quarter 2023, as well as comparisons to the prior year. 

First Quarter 2023 Results

• Income before income tax of $74.4 million, yielding a pre-tax margin of 11.5 percent
• Airline-only income before income tax(1) of $78.9 million, yielding a pre-tax margin of 12.1 percent
• Operating income of $94.8 million, yielding an operating margin of 14.6 percent
• Airline-only operating income(1) of $97.6 million, yielding an airline-only operating margin of 15.0 percent
• Consolidated EBITDA(1) of $149.5 million, yielding an EBITDA margin of 23.0 percent
• Airline-only EBITDA(1) of $152.2 million, a 23.4 percent margin
• Total operating revenue was $649.7 million, up 29.9 percent over prior year
• Total fixed fee contracts revenue of $14.1 million, the highest first-quarter total in company history
• TRASM of 13.89 cents, up 28.8 percent year-over-year
• Load factor of 85.8 percent, a 6.9 point improvement year-over-year, among the highest in the industry
• Total average fare of $154.12, up 17.5 percent year-over-year, the highest quarterly average fare in company history
• Total average ancillary fare of $75.19, up 10.7 percent as compared to 2022 driven by overall strength in core products and promising early results related to the Allegiant Extra rollout
• Acquired over 46 thousand new Allways rewards credit card holders during the quarter, the highest quarterly acquisition in program history
• Received $28 million in remuneration during the quarter
• Airline-only Operating CASM, excluding fuel, of 7.75 cents, up 9.8 percent year-over-year
• Allegiant recently named to the Forbes' America's Best Midsize Employers for 2023, Newsweek's America's Greatest Workplaces for Diversity 2023, and Fortune's America's Most Innovative Companies 2023 lists

(1)	Denotes a non-GAAP financial measure. Refer to the Non-GAAP Presentation section within this document for further information and for calculation of per share figures

Balance Sheet, Cash and Liquidity

• Total available liquidity at March 31, 2023 of $1.5 billion, which includes $1.1 billion in cash and investments, and $412.2 million in undrawn revolving credit facilities and PDP facilities
• Repurchased 118 thousand shares during the first quarter at an average share price of $100.33
• $215.4 million in cash from operations during first quarter 2023, the highest first quarter in company history
• Total debt at March 31, 2023 was $2.1 billion
• Net debt at March 31, 2023 was $1.0 billion
• Debt principal payments of $51.5 million during the first quarter
• Air traffic liability at March 31, 2023 was $479.5 million

Airline Capital Expenditures

• First quarter capital expenditures of $92 million, which includes $56 million for aircraft purchases and inductions, pre-delivery deposits, and other related costs, and $36 million in other airline capital expenditures
• First quarter deferred heavy maintenance spend was $15 million

Sunseeker Resort Charlotte Harbor

• Total capital expenditures(1) as of March 31, 2023 were $571 million
• First quarter capital expenditures(1) were $82 million
• Previously recorded special charges were reduced by $1.6 million for approved insurance net recoveries related to outstanding insurance claims at Sunseeker Resort

"I am happy to report we delivered strong financial results during the first quarter with diluted earnings per share of $3.09," stated John Redmond, CEO of Allegiant Travel Company. "The team worked tirelessly to ensure operational integrity, and our controllable completion of 99.9 percent for the quarter is a testament to their efforts. Running a safe, reliable operation is a critical component to our success, and I could not be prouder of the team's performance.