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 (JETMF) delivers innovative air cargo solutions through advanced Airbus A321F freighter operations. This news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and operational milestones.
Access official press releases covering earnings announcements, strategic partnerships, fleet expansions, and regulatory filings. Our curated news collection enables efficient tracking of JETMF's position in the competitive air freight sector, with particular emphasis on technological advancements and logistics optimization.
Key updates include cargo capacity enhancements, international route developments, and maintenance of strict aviation safety standards. Bookmark this page for direct access to primary source materials and analysis-free reporting on JETMF's evolving role in global supply chain solutions.
Global Crossing Airlines Group, Inc. (JETMF) announces the addition of Helane Becker to its Advisory Board. Ms. Becker, a managing director at Cowen, brings over 40 years of airline industry experience and a strong record as a leading analyst. Her insights and extensive network are expected to support GlobalX's growth and strategic partnerships. The airline operates under US 121, focusing on passenger and charter services, with plans to enter the ACMI cargo market in 2022 pending regulatory approvals.
On May 23, 2022, Global Crossing Airlines Group (JETMF) announced a multi-year charter agreement for its first Airbus A321 Passenger-to-Freighter (P2F) aircraft with Avianca Cargo. This marks the initiation of GlobalX's XCargo™ division, with plans for 13 firm agreements and 7 additional commitments for A321 conversions by 2024. The A321 P2F offers 55% more containerized volume than the Boeing 737-800 freighter and 19% lower fuel burn than the Boeing 757-200 freighter, targeting dominance in the narrowbody cargo market.
Global Crossing Airlines Group, Inc. (JETMF) reported significant growth in its Q1 2022 operations, with total revenue increasing 46% to $16.3M compared to Q4 2021. The company signed $70M in contracts for 2022 and $76M for 2023, while projecting over $90M in revenue for 2022. Despite a net loss of $4.8M due to investments in fleet expansion and the impact of the Omicron variant, GlobalX is on track for profitability. The company is adding new A321 freighters and has commenced a partnership to train new pilots, positioning itself for future growth in cargo operations.
Global Crossing Airlines Group Inc. (JETMF) will release its Q1 2022 results on May 16, 2022, after market close. Following this, a Zoom webinar is scheduled for May 17, 2022, at 2:00 PM ET to discuss the business update and Q1 results. GlobalX operates as a domestic airline and charter service, primarily utilizing Airbus A320 family aircraft in the U.S., Caribbean, and Latin America markets. The company emphasizes its commitment to efficient operations and customer satisfaction.
Global Crossing Airlines Group Inc. (JETMF) will release its Q1 2022 financial results on May 16, 2022, after market close. A subsequent webinar on May 17, at 2:00 PM ET, will provide a business update and discussion of these results. Global Crossing Airlines operates a charter airline service using Airbus A320 family aircraft, targeting the U.S., Caribbean, and Latin American markets. Investors and interested parties can register for the webinar to gain insights into the company’s performance.
Global Crossing Airlines Group, Inc. (JETMF) has partnered with OSM Aviation Academy to create the XDirect™ program, enhancing pilot training and ensuring a pipeline of qualified First Officers for its Airbus A320 fleet.
The two-year advanced training will help graduates meet FAA requirements and transition smoothly into GlobalX. The program aims to train 15 pilots in the first year, increasing to over 30 annually in subsequent years, with a scholarship focus on promoting diversity in aviation.
Global Crossing Airlines Group (JETMF) reported significant milestones, including obtaining a US FAA Aircraft Operating Certificate and a Certificate for Foreign Charter Air Transportation. The company began revenue service in August 2021 with one Airbus A320 and added five more by year-end. With a revenue of $14.3M in its first operational year and a net loss of $19.8M, GlobalX anticipates exceeding $90M in revenue for 2022, supported by long-term contracts. The company aims for profitability by Q3 2022, driven by increased demand and a growing fleet.
Global Crossing Airlines Group (JETMF) has successfully closed a private placement of US$6.0 million in non-convertible debentures, primarily led by Alterna Capital Partners. The financing includes 4,838,707 warrants exercisable at US$1.24 each. The debentures carry a 15% annual interest rate, payable quarterly, with a maturity of 24 months. Proceeds will be allocated towards acquiring three A320 aircraft for charter operations and securing deposits for four A321F aircraft for future cargo operations. The deal involved a related party transaction, with a director's affiliate purchasing US$200,000 in debentures.
Global Crossing Airlines Group (JETMF) announced a US$6 million non-convertible debenture offering, led by Alterna Capital Partners with a US$2.5 million commitment. Each debenture has a 15% annual interest rate, maturing in 24 months, and includes a warrant for common stock shares at an exercise price of US$1.24. The proceeds will fund new A320 aircraft for passenger operations and four A321F aircraft for cargo operations by Q4 2022. The offering is subject to customary closing conditions, including stock exchange approval.
FAQ
What is the current stock price of Global Crossing Airlines Group (JETMF)?
What is the market cap of Global Crossing Airlines Group (JETMF)?
