Global Crossing Airlines Hires Key Advisor to Launch South American Cargo Operations

Rhea-AI Summary

Global Crossing Airlines Group, Inc. (JETMF) has appointed Mr. Roberto Held as a strategic advisor to lead initiatives in the Andean Region, focusing on launching cargo operations. With over 23 years of experience in various industries, including six years in aviation as CFO at Avianca, Held aims to establish new cargo contracts and develop charter airlines in Ecuador and Colombia. The engagement is expected to bolster GlobalX's presence in charter operations across the Americas, enhancing its market positioning.

Positive

• Appointment of Roberto Held as strategic advisor expected to enhance cargo operations.
• Held's extensive experience in aviation, particularly in developing business opportunities.

Negative

• Potential risks in establishing new charter operations amid a competitive market.

MIAMI, Jan. 18, 2022 (GLOBE NEWSWIRE) -- Global Crossing Airlines Group, Inc. (JET: TSX-V; JET.B: TSX-V; JETMF: OTCQB) (the “Company” or “GlobalX”) announces the engagement of Mr. Roberto Held as a strategic advisor with the responsibility for leading several initiatives in the Andean Region, specifically the launching of Cargo Operations.

Roberto comes to this advisory with over 23 years of experience in varied industries, including Aviation, Banking, and Capital Markets. Mr. Held has more than six years of airline industry experience, including CFO at Avianca, where he was responsible for the Airline's strategy, finance, and turnaround plan. In recent years, Mr. Held has supported the Civil Aviation Authority in Colombia, advised banks and investors around the impact of the pandemic in the aviation industry, and developed new business opportunities in the Americas with other aviation sector clients.

At GlobalX, Held will be responsible for initiating new cargo contracts for the GlobalX fleet of A321 freighters by working with airlines, freight forwarders, and logistics companies. Additionally, he will be working with GlobalX senior management and the board of directors to create new A320 charter airlines in Ecuador and Colombia, and develop alliances with key industry partners.

“Roberto has deep experience in Latin American aviation, and he will be working with us to establish our presence in charter operations across the different lines of business to be rolled out in the region by the Company. We are delighted he will be working with us as we extend our presence throughout the Americas. Global Presence, Local Focus™," said Ed Wegel, Chair and CEO of GlobalX. 

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 2022, GlobalX will enter ACMI cargo service flying the A321 freighter, subject to DOT and FAA approvals. For more information, please visit www.globalxair.com. 

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 "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward-looking information contained in this news release includes, but is not limited to, statements with respect to the Company’s intention to fly as an ACMI and wet lease charter airline, Company’s projected aircraft fleet size and delivery dates, details of future charter operations, and the destinations that the Company intends to service.

In certain cases, forward-looking information 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 information 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; the timely receipt of governmental approvals; the success of airline operations of GlobalX; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the impact of competition and the competitive response to GlobalX’s business strategy; 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 information involves 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 information. Such factors include risks related to, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, 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, the ability of management to implement GlobalX’s operational strategy, the ability to attract qualified management and staff, labour disputes, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking information, 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 information. The forward-looking information is 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 information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

FAQ

Who is Roberto Held and what is his role at Global Crossing Airlines?

Roberto Held has been appointed as a strategic advisor, responsible for leading cargo operation initiatives in the Andean Region.

What are the goals of Global Crossing Airlines under Roberto Held's guidance?

The goals include launching cargo operations, creating new cargo contracts, and developing charter airlines in Ecuador and Colombia.

How might Roberto Held's appointment impact Global Crossing Airlines' stock (JETMF)?

His extensive experience in aviation may enhance business opportunities, potentially positively impacting the stock performance.

What experience does Roberto Held bring to Global Crossing Airlines?

Held has over 23 years of experience across various industries, with significant expertise in aviation as a former CFO at Avianca.

What type of operations will Global Crossing Airlines be focusing on in 2022?

In 2022, Global Crossing Airlines plans to enter ACMI cargo service using A321 freighters, subject to necessary approvals.