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Global Crossing Airlines Group Inc
Symbol JET
Shares Issued 34,833,892
Close 2023-03-13 C$ 1.26
Market Cap C$ 43,890,704
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Global Crossing to lease another A321 freighter in Dec.

2023-03-13 10:36 ET - News Release

Mr. Ed Wegel reports

GLOBAL CROSSING AIRLINES ANNOUNCES AGREEMENT TO LEASE AN ADDITIONAL A321 FREIGHTER IN 2023 AND CONTINUES CERTIFICATION OF ITS COLOMBIAN CARGO AOC

Global Crossing Airlines Group Inc. has reached an agreement to lease an additional A321 freighter (A321F) for delivery in December of 2023.

"We are pleased to be able to add an additional A321F to our delivery schedule for 2023. We expect now to take delivery of a total of six A321Fs this year, including the first freighter (N410GX) which entered revenue service in February," said Ed Wegel, chair and chief executive officer of Global Crossing Airlines.

The company's first freighter has flown for several different customers over its first month of revenue service, including a major government contract, flights for the United States automotive industry and flights for a major motion picture studio. The A321F has performed extremely well, with better fuel burn, and load and unload for both main deck and lower belly of less than 45-minute turn time. The A321F takes 50-per-cent more volume than its narrowbody competitor and is quickly shaping up to be the 757 freighter replacement aircraft. Along with its clients, Global Crossing is extremely pleased with the A321F performance, and it will seek to add as many A321Fs to the fleet as fast as possible to satisfy what is becoming overwhelming demand for the aircraft in the Americas.

"We expect delivery of our second A321F in mid-April, and that aircraft has been completely booked by our cargo clients for the next 12 months. We continue work on the certification of GlobalX Colombia, which will operate the A321F, and expect to enter phase 3 of that certification by May, 2023," said Mr. Wegel, chair and chief executive officer of Global Crossing Airlines.

About Global Crossing Airlines Group Inc.

Global Crossing is a U.S. 121 domestic flag and supplemental airline flying the Airbus A320 family aircraft. Global Crossing flies as a passenger ACMI (aircraft, crew, maintenance and insurance) and charter airline serving the U.S., Caribbean, European and Latin American markets. Global Crossing is also now operating ACMI cargo service flying the A321 freighter.

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