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Global Crossing Airlines Group, Inc. (GlobalX) (JET: NEO; JET.B: NEO; JETMF: OTCQB) has announced the creation of UrbanX Air, a subsidiary to pioneer Urban Air Mobility (UAM) in South Florida. Lucy Morillo, Esq., has been appointed as President and CEO of UrbanX to lead the development of the UAM ecosystem. GlobalX signed a letter of intent to purchase 200 electric vertical take-off and landing aircraft (eVTOL) from Eve Air Mobility, a subsidiary of aircraft manufacturer Embraer, with delivery expected in 2026.
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4.62%
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Global Crossing Airlines Group, Inc. (JET: NEO; JET.B: NEO; JETMF: OTCQB) announces a strategic partnership with Karbon-X, a carbon offset provider, to advance its commitment to sustainable air travel. The collaboration involves offsetting 20% of the airline's total fuel burn for the first three years and offering customers the choice to offset their flight emissions. Karbon-X will supply approximately 83,000 CORSIA certified offsets annually to GlobalX. The partnership reinforces GlobalX's dedication to sustainable aviation and green technology, with plans to offer carbon-neutral flights to passengers through a feasible fuel surcharge or ECO fee.
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-8.66%
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Global Crossing Airlines Group, Inc. (JET: NEO; JET.B: NEO; JETMF: OTCQB) reaffirms its 2023 revenue guidance of $150+ million (USD) and focuses on sustained profitability. The third quarter 2023 financial results show significant growth, with revenues at $42.6 million and EBITDAR at $7.6 million. The company has seen a 173% increase in block hours flown over Q2 2022, and aircraft utilization has jumped 50%. The CEO highlights the progress towards sustained profitability through fleet growth and operational scaling, with 10 passenger and 3 cargo aircraft currently and plans for four additional aircraft in Q4.
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-8.87%
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Global Crossing Airlines Group provides update on Q3 block hours operated and announces Q3 earnings release date and Annual General Meeting.
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1.86%
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Global Crossing Airlines Group, Inc. has reached an agreement to lease an additional A321 freighter for delivery in October 2023 from Cargo Aircraft Management, a subsidiary of Air Transport Services Group, Inc.
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Global Crossing Airlines Group announces agreement with Sheltair Aviation for new aircraft maintenance facility at Fort Lauderdale-Hollywood International Airport
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4.35%
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Global Crossing Airlines Group provides update on operations and contracts
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1.92%
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Global Crossing Airlines Group, Inc. (JET: NEO; JET.B: NEO; JETMF: OTCQB) reported second quarter 2023 financial results, with total operating revenue of $31.5 million, representing an 80.5% increase from Q2 2022. Adjusted EBITDAR was $5.3 million, while Adjusted EBITDA was approximately ($1.5) million. The company updated its revenue forecast to $150 million in 2023, a 54% increase over 2022, with $112 million of this revenue already contracted.
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0.57%
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Global Crossing Airlines Group, Inc. (JET: NEO; JET.B: NEO; JETMF: OTCQB) announces a 70% increase in block hours flown in Q2 2023 compared to Q2 2022. The number of hours flown per available aircraft also increased by 27% in the quarter. In July alone, the company flew over 2,500 block hours with 11 net available aircraft. The Q2 2023 earnings release and management update will be discussed on August 9th, 2023.
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3.08%
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Global Crossing Airlines Group, Inc. has closed a placement of US$35 million of Senior Secured Notes due 2029 with Axar Capital Management LP and its affiliates. The proceeds will be used to refinance existing debt, expand the fleet, and execute the growth plan. The Financing includes the sale of the Notes and warrants to purchase the Company's common stock. The terms of the Notes include a 6-year term, fixed interest rate of 15% per annum, and prepayment options starting in 2025. Andrew Axelrod from Axar Capital will join the Board of Directors of GlobalX.
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GLOBAL CRSSIG ARLINS NEW
OTC:JETMF
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14.23%
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Scheduled Passenger Air Transportation
Transportation and Warehousing
United States of America
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