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) 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.
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.