Global Crossing Airlines Voluntarily Dismisses Litigation with Ascent Global Logistics and Companies Conclude Commercial Agreement

Global Crossing Airlines (OTCQB: JETMF) and Ascent Global Logistics announced the formal conclusion of their 2023 exclusive brokerage agreement, following GlobalX’s voluntary dismissal of its Miami-Dade County lawsuit against Ascent on June 4, 2026.

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Global Crossing Airlines (OTCQB: JETMF) and Ascent Global Logistics announced the formal conclusion of their 2023 exclusive brokerage agreement, following GlobalX’s voluntary dismissal of its Miami-Dade County lawsuit against Ascent on June 4, 2026. GlobalX agreed to payment terms for amounts owed to Ascent and granted a full release of its dismissed claims. Both parties stated they will now focus on serving their respective customers and business partners.

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BELLEVILLE, Mich. and MIAMI, Aug. 12, 2026 /PRNewswire/ -- Ascent Global Logistics ("Ascent") and Global Crossing Airlines Group, Inc. (Cboe CA: JET, Cboe CA: JET.B, OTCQB: JETMF) ("GlobalX") today announced that the companies have formally concluded their 2023 exclusive brokerage agreement, following GlobalX's voluntary dismissal of its lawsuit against Ascent in Miami-Dade County in Florida on June 4, 2026. GlobalX has agreed to payment terms for amounts owed to Ascent. In addition, GlobalX granted a full release of its claims cited in the voluntarily dismissed lawsuit.

With this matter resolved, both companies will continue to focus on serving their respective customers and business partners with excellence.

About Ascent Global Logistics
Ascent Global Logistics, headquartered in Belleville, Michigan, is a leading global provider of expedited, time-critical logistics solutions and other direct transportation services. The Company connects customers to its extensive carrier network and its owned airline via its proprietary, digital PEAK™ freight marketplace, which provides robust carrier capacity and transparent pricing, backed by 24/7/365 logistics experts. To learn more, visit www.ascentlogistics.com.

About Global Crossing Airlines Group, Inc.
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 TCOs for Europe, the UK, and Australia.

View original content:https://www.prnewswire.com/news-releases/global-crossing-airlines-voluntarily-dismisses-litigation-with-ascent-global-logistics-and-companies-conclude-commercial-agreement-302849779.html

SOURCE Ascent Global Logistics

FAQ

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What did Global Crossing Airlines (JETMF) announce about its litigation with Ascent Global Logistics on August 12, 2026?

Global Crossing Airlines announced it voluntarily dismissed its lawsuit against Ascent and settled related matters. According to GlobalX, the companies ended their 2023 exclusive brokerage agreement and agreed on payment terms and a full release of GlobalX’s previously asserted claims.

Did Global Crossing Airlines (JETMF) dismiss its lawsuit against Ascent Global Logistics with prejudice?

Global Crossing Airlines stated it voluntarily dismissed its lawsuit against Ascent on June 4, 2026, and granted a full release of its claims. According to GlobalX, this release covers the claims cited in the dismissed lawsuit, effectively resolving the dispute between the two companies.

What happens to the 2023 exclusive brokerage agreement between Global Crossing Airlines (JETMF) and Ascent Global Logistics?

The 2023 exclusive brokerage agreement between Global Crossing Airlines and Ascent has been formally concluded. According to GlobalX, this conclusion follows the voluntary dismissal of its lawsuit and is part of a broader resolution under which GlobalX agreed to payment terms and released its prior claims.

What payment terms did Global Crossing Airlines (JETMF) agree to with Ascent Global Logistics?

Global Crossing Airlines agreed to payment terms for amounts owed to Ascent Global Logistics, though specific figures were not disclosed. According to GlobalX, these payment terms form part of the overall resolution that also includes ending the 2023 brokerage agreement and releasing its prior claims.

How does the resolution with Ascent Global Logistics affect Global Crossing Airlines (JETMF) operations?

The resolution allows both Global Crossing Airlines and Ascent to focus on serving customers and business partners. According to GlobalX, with the lawsuit dismissed and claims released, the companies intend to move forward operationally without the overhang of this specific legal dispute.