Global Crossing Airlines Announces Three (3) year European Summer Wet Lease Program with TUI in the Netherlands
Global Crossing Airlines Group (JETMF) has signed an ACMI wet lease agreement with TUI Airlines Netherlands to operate two Airbus A320 aircraft. This agreement is focused on the peak summer season, covering July and August 2023, and extends into 2024 and 2025. GlobalX will supply the aircraft and qualified crews, with operations based in Amsterdam to facilitate daily flights throughout Europe. The partnership highlights GlobalX's capacity to meet seasonal demand for TUI's customers, reflecting confidence in GlobalX's operational capabilities.
- Secured a multi-year ACMI wet lease agreement with TUI Airlines for two Airbus A320 aircraft, enhancing operational capacity.
- Expected operational start in peak summer seasons of 2023, 2024, and 2025, which may lead to increased revenue.
- The agreement signals strong demand for air travel in the European market.
- None.
MIAMI, April 03, 2023 (GLOBE NEWSWIRE) -- Global Crossing Airlines Group, Inc. (JET: NEO; JET.B: NEO; JETMF: OTCQB) (the “Company” or “GlobalX”) is pleased to announce the signing of an ACMI wet lease agreement to operate two (2) Airbus A320 aircraft (the “Aircraft”) for TUI Airlines Netherlands BV (“TUI”), for use in its European summer programs. GlobalX will provide the Aircraft and qualified crews to TUI for peak season flying in July and August, 2023 as well as in 2024 and 2025. From a base of operations in Amsterdam, GlobalX will provide daily flights throughout Europe.
“We are honored to fly for TUI, one of the great airlines of Europe over the next three (3) summer seasons. We greatly appreciate their confidence in us to be able to fly their valued customers to their summer vacations,” said Ed Wegel, Chair and CEO of GlobalX.
“Each year TUI and its airlines require extra aircraft capacity to match the high season demand in our European markets. GlobalX offers a perfect match and we are happy to work with them to fly our guests into their holidays,” said Roel Martens, Head of Aviation Leases at TUI Airline.
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, and Latin American markets. In 2023, GlobalX entered ACMI cargo service flying the A321 freighter. For more information, please visit www.globalxair.com.
About TUI
TUI is the top travel brand in the Netherlands and a leading global tourism group which operates worldwide and offers integrated services from a single source for its 21 million customers.
The entire tourism value chain is covered under one roof. This includes over 400 hotels and resorts with premium brands such as RIU, TUI Blue and Robinson and 16 cruise ships, from the MS Europa and the MS Europa 2 in the luxury class and expedition ships to the Mein Schiff fleet of TUI Cruises and cruise ships at Marella Cruises in Great Britain. The Group also includes leading tour operator brands and online marketing platforms across Europe, five airlines with more than 130 modern medium and long-haul aircraft and around 1,200 travel agencies. In addition to expanding its core business with hotels, cruises via successful joint ventures and activities in holiday destinations, TUI is increasingly focusing on the expansion of digital platforms. The Group is transforming itself into a digital company.
Global responsibility for sustainable economic, ecological and social action is at the core of our corporate culture. The TUI Care Foundation, initiated by TUI, focuses on the positive effects of tourism, on education and training and on strengthening environmental and social standards with projects in 25 countries. It thus supports holiday destinations in their development.
For more information, please contact:
David Dow, VP-Sales and Marketing
Email: david.dow@globalxair.com
Tel: 786-751-8500
Cautionary Note Regarding Forward-Looking Statements
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 destinations that the Company intends to service, the details of the agreement with TUI including the duration of the Agreement and frequency and destination of flights,
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 " 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; 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, 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
What is the significance of the ACMI wet lease agreement for JETMF?
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Where will GlobalX operate the leased aircraft?
What are the expected benefits of the partnership with TUI Airlines?
