Global Crossing Airlines Announces Delivery of 7th A320 and Updates Future Aircraft Delivery Schedule
Global Crossing Airlines Group (JETMF) announced the delivery of its seventh passenger A320 aircraft leased from Airborne Capital. This aircraft joins a fleet that includes four ex-Alaska A320s. The new aircraft features a configuration of 12 business and 138 economy seats, along with Wi-Fi. The company plans to expand its fleet, expecting to receive additional aircraft including two A320s and three A321 freighters throughout 2023, contingent on US DOT and FAA approvals. By year-end, GlobalX aims to operate 12 passenger A320s and six A321 freighters. They will release Q1 2023 results on May 10, 2023, followed by a webinar for updates. GlobalX is a US airline operating in various markets and using Airbus A320 family aircraft.
- Delivery of seventh passenger A320 enhances fleet capabilities.
- Strong partnership with Airborne Capital for aircraft leasing.
- Expanding fleet with 12 A320 series and 6 A321 freighters by end of 2023.
- None.
MIAMI, April 24, 2023 (GLOBE NEWSWIRE) -- Global Crossing Airlines Group, Inc. (JET: NEO; JET.B: NEO; JETMF: OTCQB) (the “Company” or “GlobalX”) is pleased to announce it has taken delivery of its seventh passenger A320 on lease from Airborne Capital (“Airborne”). The aircraft is a sistership to four ex-Alaska A320 aircraft currently operating at GlobalX, with a 12 business-138 economy seat configuration and installed Wi-Fi.
“We are pleased to be working with Airborne on this aircraft and we expect to develop a strong relationship with them as our fleet grows. We greatly appreciate their support and their diligent work in getting this aircraft delivered to us,” said Ed Wegel, Chair and CEO.
GlobalX expects, subject to additional US DOT and the FAA approvals, to take delivery of the following additional aircraft in 2023:
| Passenger Aircraft | Projected Delivery Date: | ||
| 1. N285GX | A319 | June 2023* | |
| 2. N286GX | A320 | August 2023 | |
| 3. N287GX | A320 | November 2023 | |
| Cargo Aircraft | Projected Delivery Date: | ||
| 1. N411GX | A321 Freighter | May 2023 | |
| 2. N412GX | A321 Freighter | June 2023 | |
| 3. N413GX | A321 Freighter | July 2023 | |
| 4. N414GX | A321 Freighter | October 2023 | |
| 5. N435GX | A321 Freighter | December 2023 |
* This aircraft to be used for ETOPS certification.
Assuming all of these aircraft are delivered, GlobalX will be operating twelve passenger A320 series aircraft, and six A321 Freighters by the end of 2023.
In addition, the Company confirms that it intends to release Q1 2023 results before the opening of the market Wednesday, May 10th and will be hosting a Zoom webinar to provide a business update and discuss the Q1 2023 results the same day.
You are invited to a Zoom webinar.
When: May 10, 2023 02:00 PM Eastern Time (US and Canada) [NOTE: New time and Webinar Link]
Topic: Global Crossing Airlines – Q1 2023 Earnings Release & Management Update
Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_rXhTf36US5-GiZy-zt5Zjw
About Global Crossing Airlines
GlobalX is a US 121 domestic flag and supplemental Airline flying the Airbus A320 family aircraft. GlobalX flies as a passenger ACMI and charter airline serving the US, Caribbean, European and Latin American markets. GlobalX is also now operating ACMI cargo service flying the A321 freighter. For more information, please visit www.globalxair.com.
About Airborne Capital Limited
Airborne Capital is a specialist aircraft leasing and asset management business headquartered in Ireland and with a presence in Shannon, Dublin, London, New York, Hong Kong and Tokyo. Airborne was established in 2017 and manages approximately USD 2bn of aircraft assets through active relationships with a global set of investors.
For more information, please contact:
Ryan Goepel, Chief Financial Officer
Email: ryan.goepel@globalxair.com
Tel: 786.751.8503
Cautionary Note Regarding Forward-Looking Information
This news release contains certain “forward looking statements” and “forward-looking information”, as defined under applicable United States and Canadian securities laws, concerning anticipated developments and events that may occur in the future. Forward-looking statements contained in this news release include, but are not limited to, statements with respect to the Company’s aircraft fleet size, the mix between passenger and freighter aircraft, receipt of US DOT and FAA approvals, the destinations that the Company intends to service, the delivery and entry into service timelines for future aircraft, the Company’s growth plans, and timeline for release of financial results.
In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking statements contained in this news release is based on certain factors and assumptions regarding, among other things, the receipt of financing to continue airline operations, the accuracy, reliability and success of GlobalX’s business model; GlobalX’s ability to accurately forecast demand; GlobalX will be able to successfully conclude definitive agreements for transactions subject to LOI; the timely receipt of governmental approvals; the success of airline operations of GlobalX; GlobalX’s ability to successfully enter new geographic markets; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the Company has or will have sufficient aircraft to provide the service; the impact of competition and the competitive response to GlobalX’s business strategy; the future price of fuel, and the availability of aircraft. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include risks related to, the ability to obtain financing at acceptable terms, the impact of general economic conditions, risks related to supply chain and labor disruptions, failure to retain or obtain sufficient aircraft, domestic and international airline industry conditions, failure to conclude definitive agreements for transactions subject to LOI, the effects of increased competition from our market competitors and new market entrants, passenger demand being less than anticipated, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, risks associated with doing business in foreign countries, the ability of management to implement GlobalX’s operational strategy, the ability to attract qualified management and staff, labor disputes, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; risks related to significant disruption in, or breach in security of GlobalX’s information technology systems and resultant interruptions in service and any related impact on its reputation; and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators and the U.S. Securities and Exchange Commission. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in the forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements are made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update any forward-looking statements. If GlobalX does update one or more forward-looking statements, no inference should be made that it will make additional updates with respect to those or other forward-looking statements.
FAQ
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