Global Crossing Airlines Launches Cargo Charter Service Between Chicago and San Juan via Airblox

Rhea-AI Summary

Global Crossing Airlines Group Inc. (GlobalX) has announced a new partnership with Airblox, a digital platform for air freight capacity and financing. Starting October 10, 2024, GlobalX will operate round-trip cargo charter flights between Chicago (ORD) and San Juan (SJU) three times per week. The service will use the Airbus A321F freighter, offering 25 tons of capacity in each direction on Tuesdays, Thursdays, and Saturdays.

The A321F freighter provides 14% more containerized capacity than the B757-200 and a 19% reduction in fuel consumption, allowing GlobalX to offer competitive pricing and operational efficiency. This partnership aims to provide freight forwarders and businesses with reliable and cost-effective air cargo capacity between Chicago and San Juan, exclusively available through the Airblox platform.

Positive

• Launch of new cargo charter service between Chicago and San Juan
• Partnership with Airblox digital platform for air freight capacity
• Utilization of advanced Airbus A321F freighter with 25 tons capacity
• 14% more containerized capacity compared to B757-200
• 19% reduction in fuel consumption, improving operational efficiency

Negative

• None.

New Service Offers Unmatched Value and Efficiency with Advanced Airbus A321F Freighter

MIAMI, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Global Crossing Airlines Group Inc. (Cboe CA: JET, Cboe CA: JET.B, OTCQB: JETMF) (the “Company” or “GlobalX”), the Nation's fastest growing charter airline, today announced that it has entered into a new partnership with Airblox, a digital platform for air freight capacity and financing.

Beginning October 10, 2024, GlobalX will operate round-trip cargo charter flights between Chicago (ORD) and San Juan (SJU) three times per week. The service, which will be exclusively available through the Airblox platform, will utilize the state-of-the-art Airbus A321F freighter, offering 25 tons of capacity in each direction on Tuesdays, Thursdays, and Saturdays.

This partnership provides freight forwarders and businesses with unmatched access to reliable and cost-effective air cargo capacity between Chicago and San Juan. GlobalX’s decision to list its A321F freighter capacity on Airblox underscores the companies’ shared commitment to innovation and customer satisfaction in the air freight industry.

“We’re excited to offer this high-demand route from Chicago to San Juan through the Airblox platform. The A321F freighter delivers 14% more containerized capacity than the B757-200, along with a 19% reduction in fuel consumption. This combination allows us to offer industry-leading pricing and operational efficiency,” said Ryan Goepel, President and CFO of GlobalX. “The A321F represents the future of air cargo, and this collaboration with Airblox highlights our dedication to providing exceptional value to our customers.”

Neel Jones Shah, Board Member at Airblox, added, “We are thrilled to partner with GlobalX and bring this vital route to our platform. This collaboration enhances our network and offers forwarders greater reliability and efficiency for their cargo needs. We encourage businesses to take advantage of the competitive pricing and flexible options available.”

Businesses interested in securing space on the Chicago to San Juan route are encouraged to contact Iyman Mustafa (iyman@airblox.com) for pricing and further details.

This new offering aligns with Airblox’s mission to streamline air cargo procurement, delivering better value, flexibility, and choice for freight forwarders through its innovative eBSA™ agreements. The addition of GlobalX’s A321F freighter further enhances Airblox’s platform, making it an ideal choice for forwarders seeking competitive and efficient air cargo solutions.

About Airblox

Airblox is a leading online air cargo capacity and financing platform. It connects freight forwarders with reliable carriers and financing options via the facilitation of allotments, contract rates and eBSA’s™ exclusively offered through Airblox.

About Global Crossing Airlines

GlobalX is a US 121 domestic flag and supplemental airline flying the Airbus A320 family of aircraft. The Company’s services include domestic and international ACMI and charter flights for passengers and cargo throughout the US, Caribbean, Europe, and Latin America. GlobalX is IOSA certified by IATA and holds TCO’s for Europe and the UK.

For more information:

Company Contact

Ryan Goepel, President & CFO
Tel: (720) 330-2829

Investor Relations Contact

Sean Mansouri, CFA or Aaron D’Souza
Email: JET@elevate-ir.com

Airblox Contact

Ashton McDonald
Email: ashton@airblox.com

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 terms of the partnership with Airblox including flight schedules, capacity and destinations, access to reliable and competitive air cargo capacity, the commitment of both companies to innovation and customer satisfaction in the air cargo industry, the fuel burn and economics of the A321F, the offering of more reliable and efficient cargo transportation options, route demand and pricing, the destinations that the Company intends to service and the Company’s growth plans.

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 any resurgence of 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

When will GlobalX start operating cargo charter flights between Chicago and San Juan?

GlobalX will begin operating cargo charter flights between Chicago (ORD) and San Juan (SJU) on October 10, 2024.

How often will JETMF operate the Chicago to San Juan cargo flights?

GlobalX (JETMF) will operate the cargo charter flights three times per week, on Tuesdays, Thursdays, and Saturdays.

What type of aircraft will GlobalX use for the Chicago-San Juan cargo route?

GlobalX will use the state-of-the-art Airbus A321F freighter for the Chicago-San Juan cargo route.

How much cargo capacity does the Airbus A321F freighter offer on the JETMF Chicago-San Juan route?

The Airbus A321F freighter offers 25 tons of cargo capacity in each direction on the Chicago-San Juan route.

How can businesses book space on GlobalX's Chicago to San Juan cargo flights?

Businesses interested in securing space on the Chicago to San Juan route should contact Iyman Mustafa (iyman@airblox.com) for pricing and details. The service is exclusively available through the Airblox platform.