18:48:12 EDT Sat 11 May 2024
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Global Crossing Airlines Group Inc
Symbol JET
Shares Issued 39,332,164
Close 2023-11-13 C$ 0.85
Market Cap C$ 33,432,339
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Global Crossing, Karbon-X form CO2 offset partnership

2023-11-14 12:27 ET - News Release

Mr. Ryan Goepel reports

GLOBAL CROSSING AIRLINES PARTNERS WITH KARBON-X TO FURTHER COMMIT TO SUSTAINABLE AIR TRAVEL

Global Crossing Airlines Group Inc. has formed a strategic partnership with Karbon-X, a leading carbon offset provider, to advance its commitment toward sustainable and environmentally friendly air travel.

This collaboration sees Global investing in a carbon offsetting program proposed by Karbon-X that aims to counteract the carbon dioxide emissions generated by Global's airline operations. The program involves offsetting 20 per cent of the airline's total fuel burn for the first three years and setting up models allowing customers the choice to offset the emissions created from their flights.

At current operation levels, Karbon-X will be supplying GlobalX with approximately 83,000 CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation) certified offsets annually over the course of the agreement. Karbon-X will also offer consultancy to Global for potential environmentally friendly projects, advancing the ESG (environmental, social, governance) component of the business.

Global has been on the forefront of sustainable aviation, having recently signed a letter of intent to purchase 50 all-electric Alice aircraft, indicating its steadfast commitment to green technology in aviation. The collaboration with Karbon-X further strengthens this commitment, and the airline looks forward to offering passengers the choice of carbon-neutral flights through a feasible fuel surcharge or ECO fee.

Karbon-X, with its proven record in carbon offsetting, offers individuals and businesses the chance to invest in projects that reduce or remove carbon dioxide from the atmosphere. The collaboration with Global reiterates its mission of changing the world one offset at a time.

"GlobalX is pleased to partner with Karbon-X to expand our environmental commitment by implementing our carbon offset program," said Ryan Goepel, chief financial officer of Global. "In addition to our commitment, each of our clients will have the ability to further offset the impact of each of their flight operations, allowing them to further expand each of their unique ESG initiatives."

"We are thrilled to work with GlobalX and contribute to their environmental commitments," said Chad Clovis, chief executive officer of Karbon-X. "Our partnership will not only help offset emissions but will also raise awareness on the importance of sustainable travel."

Both companies are excited about the positive change this partnership promises and remain committed to ensuring a greener future for air travel.

About Global Crossing Airlines Group Inc.

GlobalX is a U.S. 121 domestic flag and supplemental airline flying the Airbus A320 family aircraft. Global flies as a passenger ACMI (aircraft, crew, maintenance and insurance) and charter airline serving the United States, Caribbean, European and Latin American markets. Global is also now operating ACMI cargo service flying the A321 freighter. Global is IATA Operational Safety Audit certified by International Air Transport Association and holds TCOs for Europe and the United Kingdom.

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