Global Crossing Airlines Group Inc - JETMF STOCK NEWS

Global Crossing Airlines (JETMF) reported strong Q4 and full-year 2024 results, with annual revenue climbing 40% to $223.8 million. Q4 revenue increased 11% to $59.9 million, driven by higher block hours and fleet expansion.

Q4 highlights include improved EBITDAR of $19.3 million, up 69% year-over-year, and reduced net loss to $(0.6) million compared to $(2.6) million in Q4 2023. The company expanded its fleet to 19 aircraft and secured several key contracts, including a South American ACMI agreement for 1,800 block hours and a DHL cargo contract.

The company's strategic shift towards ACMI operations has proven successful, with ACMI revenue increasing more than 3x compared to 2023. Cargo operations showed significant growth, generating over 1,600 block hours in Q4 2024, a 4x increase year-over-year.

Global Crossing Airlines (JETMF) has announced its upcoming conference call to discuss fourth quarter and full year 2024 financial results, scheduled for March 6, 2025, at 8:30 a.m. ET. The company, recognized as the Nation's fastest growing charter airline, will release its financial results via press release before the call.

Management will host the conference call followed by a Q&A session. Investors can participate through multiple channels:

• Toll-free dial-in: (877) 704-4453
• International dial-in: (201) 389-0920
• Conference ID: 13751840

Stakeholders can submit questions in advance via email to JET@elevate-ir.com. A replay of the conference call will be available on the company's investor relations website at www.globalairlinesgroup.com. Technical support is available through Elevate IR at (720) 330-2829.

Global Crossing Airlines (JETMF) expects to report Q4 and full-year 2024 results at the high end of its previous guidance, with anticipated FY2024 revenue of $218M-$224M (34-40% YoY growth) and EBITDAR of $60M-$63M (195-215% YoY growth). The company achieved record performance in December 2024.

Key highlights include:

• Fleet expansion of nearly 30% in 2024
• Strategic shift from charter to higher-margin ACMI operations
• Record revenue per block hour in Q4
• Cash position of $14M as of December 31, 2024
• One-time $1.3M charge related to Canada Jetlines lease guaranty
• Addition of one A321 passenger aircraft, bringing total fleet to 19 aircraft

Global Crossing Airlines (JETMF) has announced a digital interline agreement with United Airlines through Airblox's electronic Block Space Agreement (eBSA) for cargo transportation between San Juan (SJU) and Chicago (ORD). GlobalX operates thrice-weekly round-trip cargo flights using Airbus A321F freighters, offering 25 tons of cargo capacity in each direction.

United Airlines has secured the entire GlobalX A321F cargo space for the San Juan to Chicago route through the Airblox platform. The A321F freighter boasts a 19% reduction in fuel consumption compared to competitive aircraft. The service operates on Mondays, Wednesdays, and Fridays, utilizing Airblox's platform for streamlined operations and competitive pricing.

Global Crossing Airlines (JETMF) has announced a joint venture with ATB Aviation Australia to establish a new charter airline headquartered in Melbourne. The venture will serve the Asia-Pacific region, offering both passenger and cargo charter services along with ACMI operations using Airbus A320 family aircraft.

The new airline aims to capitalize on the APAC charter flight market, projected to reach $6.8 billion annually. Operations are targeted to begin in late 2025, with plans to expand to 10 aircraft within five years. The joint venture will operate similarly to GlobalX's successful North American model, where it currently operates 18 Airbus A321 aircraft serving US, Caribbean, and Latin American markets.

Global Crossing Airlines (JETMF) held its 2024 Annual Meeting of Stockholders on November 22, 2024, in Miami. Six out of seven director nominees were successfully elected with majority approval. Paul Martins' election is subject to the Company's Majority Voting Policy. Stockholders approved an amendment to increase the Employee Share Purchase Plan by 3,000,000 shares with 99.49% approval. Additionally, Rosenberg Rich Baker Berman P.A. was appointed as the independent registered public accounting firm for fiscal year 2024 with 99.81% shareholder approval.

Global Crossing Airlines reported Q3 2024 financial results with revenue up 23% to $52.4 million and record block hours of 7,460. EBITDAR doubled to $15.4 million, while net loss remained flat at $4.9 million ($0.08 per share). The quarter saw operational challenges with 35% of fleet offline in September due to weather and third-party damage. The company expanded its fleet to 18 aircraft and shifted focus to ACMI operations, resulting in 93% increase in ACMI revenue. For Q4 2024, GlobalX projects revenue of $55M-$61M and EBITDAR of $16M-$19M.

Global Crossing Airlines (JETMF) has announced its Third Quarter 2024 earnings conference call scheduled for November 7, 2024, at 8:30 a.m. ET. The company, described as the Nation's fastest growing charter airline, will release its financial results for the quarter ended September 30, 2024, before the call. Management will host the call followed by a Q&A session. Investors can submit questions in advance via email to JET@elevate-ir.com. The call will be accessible through toll-free and international dial-in numbers, and a webcast replay will be available on the company's investor relations website.

Global Crossing Airlines Group Inc. (GlobalX) has appointed Laurie Villa as Chief People Officer, effective immediately. Reporting to GlobalX President and CFO, Ryan Goepel, Mrs. Villa will lead the company's Human Capital Management functions, strengthen its culture, and drive engagement across the airline. She joins GlobalX during a critical growth phase to manage talent, implement compensation plans, support team relations, and lead a values-based culture.

Mrs. Villa previously served as Chief People Officer for JetBlue Airlines and Chief Human Resources Officer of Spirit Airlines. She brings over 30 years of global leadership experience in various industries. GlobalX has expanded its fleet to 18 aircraft and built a team of over 750 professionals in just three years. The company expects Mrs. Villa's expertise to be pivotal in propelling the organization to new heights of success.