Global Crossing Airlines Group Inc Stock Price, News & Analysis

Eve UAM, LLC, a subsidiary of Embraer (NYSE: ERJ), has signed a Letter of Intent with Global Crossing Airlines (OTCQB: JETMF) to potentially order up to 200 electric vertical take-off and landing (eVTOL) aircraft. This order adds to Eve's existing backlog of 1,785 eVTOLs, with deliveries expected to commence in 2026. The partnership aims to develop Urban Air Mobility solutions, leveraging GlobalX's experience as a flag airline to enhance infrastructure and deployment in North America.

Global Crossing Airlines Group Inc. (JETMF) announced that its shares will begin trading on the NEO Exchange on March 16, 2022, after receiving final approval. The company will be delisted from the TSX Venture Exchange at the market's close on March 15, 2022. CEO Ed Wegel emphasized the achievement of operating six aircraft within 18 months and believes that this listing will enhance their visibility to investors and expand their shareholder base.

Global Crossing Airlines Group, Inc. (JETMF) has signed a long-term lease for two Airbus A321 P2F aircraft from Petrus Aerovista A321 Holdings LLC. The announcement was made at the ISTAT Americas Conference in San Diego. The first aircraft is set for conversion in Q1 2023, with service expected to commence in August 2023, and the second will begin conversion in Q2 2023, entering service by November 2023. The partnership with Aerovista aims to enhance GlobalX's operational capabilities in air cargo.

Global Crossing Airlines Group (JETMF) has partnered with Pacific Simulators to acquire an FAA Level 5 Airbus A320 Flight Training Device (FTD). This strategic move aims to enhance pilot training effectiveness, reduce costs, and improve scheduling flexibility. The device features authentic Airbus components for a realistic training experience. GlobalX plans to expand its fleet to ten A320/A321 aircraft and four freighters by year-end 2022, with delivery of the FTD scheduled for June 2022. The company continues to make significant advancements even amidst market challenges.

Global Crossing Airlines Group, Inc. (JETMF) announced on February 3, 2022, that it has filed a Form 8-A Registration Statement with the SEC, now becoming a fully reporting entity under U.S. securities laws. This filing mandates compliance with Form 10-K, 10-Q, and 8-K reporting requirements, enhancing transparency for shareholders. The company, which operates as a domestic flag and supplemental airline, plans to expand into ACMI cargo services in 2022, subject to regulatory approvals. This strategic move aims to strengthen its operational footprint in the U.S., Caribbean, and Latin American markets.

Global Crossing Airlines Group, Inc. (JETMF) announced that its resale registration statement on Form S-1 was declared effective by the SEC on February 3, 2022. This registration allows the resale of shares from previous private placements, marking GlobalX's transition to a reporting issuer under the U.S. Securities Exchange Act. Chairman and CEO Ed Wegel emphasized the company’s commitment to transparency for shareholders. The release includes a cautionary note regarding forward-looking statements, highlighting risks such as financing, operational success, and regulatory approvals.

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.

Global Crossing Airlines Group has appointed Doreen DePastino as Executive Vice President of Customer Service, overseeing Inflight Services and Ramp Operations. DePastino brings over 35 years of airline experience, having served in leadership roles at major airlines including Emirates and Hawaiian Airlines. The appointment aims to enhance customer service as GlobalX expands operations with six aircraft. DePastino will also lead the company's ground services subsidiary and focus on diversity initiatives within the organization.

Global Crossing Airlines Group (JETMF) reported a significant boost in operations for Q4 2021, achieving 1,400 block hours sold, a 280% increase from 378 hours in Q3. The company signed letters of intent for three Airbus aircraft, including two A321 freighters for delivery in 2023. GlobalX anticipates a 41% increase in capacity and expects to maintain a high sales rate of 85% of available capacity moving forward. The CEO expressed optimism regarding the company’s growth and advantageous lease agreements.