Welcome to our dedicated page for Global Crossing Airlines Group news (Ticker: JETMF), a resource for investors and traders seeking the latest updates and insights on Global Crossing Airlines Group stock.
Global Crossing Airlines Group Inc. (GlobalX), traded over-the-counter under the symbol JETMF, is a US 121 domestic flag and supplemental airline that focuses on ACMI and charter operations using the Airbus A320 family of aircraft. The company’s news flow centers on its charter and ACMI activities for passengers and cargo across the US, Caribbean, Europe and Latin America, as well as on its financial and corporate developments.
Visitors to this news page can review GlobalX press releases that are also furnished to the SEC on Form 8-K. These items include quarterly and full-year financial results, where the company reports revenue, net income or loss, operating expenses, cash flow from operations and non-GAAP measures such as EBITDA and EBITDAR, along with reconciliations and management commentary. Operational updates in these releases often highlight total block hours, aircraft utilization, fleet expansion within the Airbus A320 family and the mix of ACMI versus other charter activity.
GlobalX news also covers business agreements and fleet initiatives. For example, the company has announced the completion of its first Airbus A320 acquisition and lease agreements for additional Airbus A319 aircraft as part of a transition to a hybrid ownership model. It has also disclosed a long-term wet-lease agreement to provide dedicated Airbus A320 aircraft to another airline, positioning these arrangements as part of its ACMI and charter platform.
In addition, GlobalX issues announcements regarding investor events such as quarterly earnings conference calls and the posting of investor presentations, as well as corporate governance milestones including the results of its annual meeting of stockholders. Investors following JETMF news can use this page to track the company’s reported financial performance, fleet developments, charter and ACMI contracts and key shareholder actions over time.
Global Crossing Airlines Group Inc. (JETMF) announced a Zoom webinar on January 10, 2022, at 2 PM EST to provide a business update. The airline, which operates Airbus A320 family aircraft, serves the US, Caribbean, and Latin American markets. In 2022, GlobalX will expand its operations to include ACMI cargo services with the A321 freighter. Interested parties can register for the webinar online to receive details.
For further inquiries, contact CFO Ryan Goepel.
Flügy, a subsidiary of Global Crossing Airlines Group (JETMF), is launching an innovative air travel service in partnership with Soho House. This service offers nonstop flights to hard-to-reach destinations, starting with Canouan in St. Vincent and the Grenadines. Flügy allows members to schedule their flights directly, providing a seamless travel experience. The first trip will occur from January 14-17, 2022, using a GlobalX Airbus A320. The partnership aims to enhance travel for Soho House members, bypassing the need for multiple connections and promoting exclusive travel experiences.
Global Crossing Airlines Group Inc. (JETMF) has filed a resale registration statement on Form S-1 with the SEC to register shares from previous private placements. This move, aimed at improving access to U.S. capital markets, includes Common Stock and Class B Non-Voting Common Stock from transactions that closed in June 2020, January 2021, and April 2021. The registration is pending effectiveness and may not be sold until approved. The statement emphasizes the company's operational strategies as a charter airline and acknowledges various risks involved in the airline industry.
Global Crossing Airlines Group Inc. (JETMF) will host a Zoom webinar on November 30, 2021, at 2:00 PM ET to discuss its Q3 results and future outlook. This session aims to provide insights into the company's operational performance and strategic direction. GlobalX operates as a charter and ACMI airline, servicing the US, Caribbean, and Latin American markets with Airbus A320 aircraft. Interested participants can register for the webinar via the provided link.
Global Crossing Airlines Group, Inc. (JETMF) has achieved significant milestones, including obtaining its US FAA Aircraft Operating Certificate and the Certificate of Public Convenience and Necessity for international operations. The company entered revenue service on August 7, 2021, reporting $3.1M in revenue and a net operating loss of $5.26M for Q3 2021. Operating two Airbus A320s and one A321, GlobalX anticipates a 270% increase in aircraft availability by year-end. The company aims to expand service to Caribbean and Latin American destinations while enhancing profitability.
Global Crossing Airlines Group, Inc. (JETMF) has launched scheduled charter services from Miami and Tampa to Havana, following approval from the U.S. Department of Transportation. Flights will operate six times weekly from Miami and twice weekly from Tampa, with plans for expansion as Cuba reopens fully post-pandemic. The partnership with Havana Air aims to enhance operational reliability and passenger capacity using Airbus A321 aircraft. Both companies are optimistic about increasing flights in the future.
Global Crossing Airlines Group (JETMF) and Canada Jetlines are partnering to launch public charter flights between Toronto and Florida, marking their first collaboration since GlobalX's spin-out of Canada Jetlines in June 2021. The charter flights, targeting Miami and Fort Lauderdale, are expected to commence in March 2022, with ticket sales anticipated to start in December 2021, pending regulatory approvals. This partnership aims to maximize the airlines' networks and enhance capacity during peak periods.
Global Crossing Airlines Inc. (JETMF) has commenced the conversion of its first A321 aircraft into a freighter, collaborating with Hong Kong Engineering Company Limited. This aircraft is part of a fleet expansion plan that includes the leasing of three A320s and a fourth A320 under letter of intent. CEO Ed Wegel highlighted the anticipated growth in charter demand and the successful receipt of Foreign Air Operator Certificates in Canada and Mexico. Additionally, the company has issued 220,000 restricted stock units to select directors and officers.
Global Crossing Airlines Group, Inc. (JETMF) has received allocation from the U.S. Department of Transportation for 508 round-trip charter flights in partnership with Havana Air, to commence by early November 2021, pending Cuban governmental approval. This collaboration supports GlobalX's strategy as a charter airline, leveraging its modern A320 and A321 aircraft for effective market service. Havana Air, with over 12 years of experience in Cuba travel, enhances service reliability and operational capacity.
Global Crossing Airlines Group, Inc. (JETMF) has signed a definitive agreement with ST Engineering Aerospace Resources to lease an Airbus A321 P2F freighter. This marks the first of up to five A321 freighters that will be leased from STE Aerospace Resources. The aircraft's conversion will occur at ST Engineering's San Antonio facility, starting in February 2022, with an expected entry into revenue service by October 2022. The A321 P2F is recognized as a significant advancement in the narrowbody freighter market.
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