Global Crossing Airlines Group Inc. (JETBF) director Harrington Cordia reported the acquisition of 215,000 shares of Common Stock on August 3, 2026. The shares were acquired upon vesting and conversion of an equal number of RSUs, increasing Cordia’s directly held position to 514,967 shares. No Rule 10b5-1 trading plan is reported.
Global Crossing Airlines Group Inc. (JETBF) received a Form 4 reporting the equity positions of Red Oak Partners–managed funds associated with director and ten percent owner David Sandberg as of August 11, 2026. The Red Oak Fund, LP and The Red Oak Long Fund, LP hold substantial indirect positions in both voting and non-voting equity classes of the company.
The Red Oak Fund, LP holds 6,060,759 shares of Common Stock, plus 2,924,645 Class A Non-Voting and 10,868 Class B Non-Voting shares that are immediately exercisable into Common Stock and do not expire. The Red Oak Long Fund, LP holds 3,166,888 shares of Common Stock, plus 1,510,688 Class A Non-Voting and 5,632 Class B Non-Voting shares with the same exercisability terms.
All positions are reported as indirect ownership through the funds, and each reporting person disclaims beneficial ownership beyond any pecuniary interest. No purchases, sales, or Rule 10b5-1 trading plan transactions are reported in this filing.
Global Crossing Airlines Group Inc. (JETBF) reported an amended initial statement of beneficial ownership indicating that investment entities affiliated with Red Oak Partners hold significant positions in its common stock. The Red Oak Fund, LP is reported as indirectly holding 2,350,528 shares of common stock, and The Red Oak Long Fund, LP is reported as indirectly holding 1,432,428 shares, with ownership described as through those funds. David Sandberg is identified as the controlling member of Red Oak Partners and portfolio manager of the funds. Each reporting person disclaims beneficial ownership of the securities beyond its or his pecuniary interest.
Global Crossing Airlines Group Inc. reported changes to its Board of Directors. On August 14, 2026, T. Allan McArtor resigned from the Board, effective the same day, and will continue with the company as Senior Advisor to the Executive Chairman. On August 11, 2026, the Board appointed David Sandberg, founder and Chief Investment Officer of Red Oak Partners, LLC, as a director with a term expiring at the company’s next Annual Meeting of Stockholders. The Board has not yet determined committee assignments for Sandberg. His compensation as a non-employee director will follow the company’s existing non-employee director compensation program.
Global Crossing Airlines Group Inc. reported Q2 2026 revenue of $62.0 million, up 1% from $61.4 million in Q2 2025. The company recorded a net loss of $1.3 million versus net income of $0.6 million a year earlier, while EBITDA rose 17% to $6.9 million, its second-highest quarterly level, helped by improved fleet efficiency and higher utilization per aircraft.
Total operating expenses increased 4% to $60.6 million, and cash used in operating activities was $1.6 million compared with $8.8 million of operating cash inflow in the prior-year quarter. Cash and restricted cash declined to $11.9 million as of June 30, 2026 from $20.5 million at year-end 2025.
The company operated with 15.3 net available aircraft versus 17.1 a year ago due to a concentrated maintenance program, yet increased average utilization per available aircraft by 11% to 523 block hours. Management is advancing a fleet modernization plan, adding five younger Airbus A320-family aircraft and targeting a 25-aircraft fleet by year-end, while cargo operations continue to weigh on results.
Global Crossing Airlines Group Inc. provides ACMI and charter air services using Airbus A320-family aircraft. For the three months ended June 30, 2026, revenue was $62.0 million and the company recorded a net loss attributable to the company of $1.3 million. For the six-month period, revenue reached $138.6 million with net income attributable to the company of $1.4 million, supported in part by a $1.0 million gain on settlement of a customer prepayment dispute.
As of June 30, 2026, the company reported a working capital deficit of $67.7 million, a retained deficit of $72.3 million, and cash and cash equivalents of $9.9 million, alongside significant lease and debt obligations. Management states these factors create substantial doubt about the company’s ability to continue as a going concern without additional financing or sustained income growth. Cargo charter demand remains soft and is described as a drag on earnings, while passenger charter demand is characterized as strong.
Global Crossing Airlines Group Inc. director Deborah Wallis Robinson acquired 215,000 shares of common stock on August 3, 2026, through vesting and conversion of an equal number of RSUs. After this award, she directly holds 569,411 shares of common stock and no Class A or Class B common stock.
Global Crossing Airlines Group Inc. filed Amendment No. 1 to its annual report for the year ended December 31, 2025. The amendment responds to SEC staff comments by clarifying the company’s dividend policy versus cash distributions made by a majority-owned subsidiary, and aligning related risk factor disclosures.
The filing also replaces Item 9A with management’s complete report on the effectiveness of internal control over financial reporting as of December 31, 2025. As of March 2, 2026, the company had 66,351,785 shares outstanding, and as of June 30, 2025, non‑affiliate equity had an aggregate market value of $27,173,759.
Global Crossing Airlines Group reported strong first quarter 2026 results, showing higher growth and improved profitability despite operating with fewer aircraft. Revenue rose 15% to $76.6 million, driven by higher block hours, better utilization per aircraft, and stronger charter pricing. Total operating expenses increased 11% to $70.5 million, reflecting higher maintenance and personnel costs tied to fleet expansion and a shift of some in-house maintenance to third parties.
Net income improved sharply to $2.7 million from $0.2 million, with earnings of $0.04 per share. EBITDAR grew 17% to $24.2 million, while EBITDA roughly doubled to $10.8 million. Cash flow from operations increased to $9.0 million compared to $0.1 million a year earlier, and cash and restricted cash were about $20.0 million as of March 31, 2026. Operationally, GlobalX flew 8,315 block hours, up 10%, with average utilization per aircraft up 25% to 552 hours, even as net aircraft available fell 11% to 14.9.
ACMI flying made up 74% of block hours, up from 68%, supporting a model where fuel costs are generally passed through to customers. Charter revenue per block hour increased 32% to $17,881, highlighting stronger pricing and demand, particularly in collegiate and professional sports charters. Cargo operations remained weak due to soft freight markets and continued to weigh on earnings, with management estimating a cargo drag of roughly $10–$11 million for full-year 2026 if current conditions persist. Management emphasized disciplined fleet growth focused on Airbus A320 aircraft, targeted fleet expansion to more than 20 aircraft by the end of 2026, and a strategy of adding aircraft only against contracted or highly visible demand.
Global Crossing Airlines Group Inc. reported stronger Q1 2026 results but highlighted serious liquidity risks. Revenue rose to $76.6 million from $66.6 million, driven by higher charter and ACMI activity and better utilization. Net income attributable to the company increased to $2.7 million, compared with $0.2 million a year earlier, and operating income nearly doubled as scale and pricing improved. Despite this progress, the company ended the quarter with a $63.6 million working capital deficit, a $70.9 million retained deficit and significant lease and debt obligations. Management states these conditions raise substantial doubt about its ability to continue as a going concern without additional financing.