Global Crossing Airlines Continues Record Flight Activity and Announces Several Key Milestones

MIAMI, Sept. 05, 2023 (GLOBE NEWSWIRE) -- Global Crossing Airlines Group, Inc. (JET: NEO; JET.B: NEO; JETMF: OTCQB) (the “Company” or “GlobalX”) is pleased to provide an update on block hours operated in July and August, aircraft deliveries and contracts signed.

“GlobalX operated over 2,500 block hours in July and approximately 2,400 block hours in August, bringing the quarter total to 4,900 compared to 3,157 hours in July and August 2022, a 55% increase. We are continuing the strong momentum gained in July with 9 passenger aircraft and 2 A321 Freighters operating. We expect a strong finish to the 3^rd quarter as we transition from our summer flying into our fall program” said Ed Wegel, Chairman and CEO.
During Q3 GlobalX has:

• Taken delivery of our 10^th passenger aircraft, N285GX, and it has started revenue operations on September 1
• Signed a new $4M ACMI Government contract for September and October – with potential to be extended into a multi-year contract
• Closed on a $35 million financing which allows us to add six additional aircraft this year and all planned deliveries in 2024
• Signed contracts with two major tour operators each launching new 3 times a week service to Caribbean destinations
• Signed contracts with a cargo operator establishing new cargo routes to several Caribbean countries, including Jamaica and Trinidad.
• Successfully flown for Wizz Air, Lynx Air, TUI and Caribbean Airlines and provided additional lift to our sister company, Canada Jetlines
• Signed an LOI for 1 additional A321 passenger aircraft to be delivered in Q4 2023 and 2 additional A321 freighters to be delivered in 2024
• Scheduled the delivery of our 11^th passenger aircraft, an A320, in October and the 12^th passenger aircraft in December 2023
• Increased our pilot head count to 123 with another 10 direct entry Captains starting on September 11.
  

In addition, Ryan Goepel our CFO will be presenting at both the Planet MicroCap Conference and the Emerging Growth Virtual Conference on Wednesday, September 6^th with registration details below:

Emerging Growth Conference
Date: Wednesday, September 6, 2023
Time: 12:35 PM Eastern Time
Webcast: https://goto.webcasts.com/starthere.jsp?ei=1603285&tp_key=ab3efc58 ...

Planet MicroCap Showcase: VANCOUVER 2023
Date: Wednesday, September 6, 2023
Time: 3:30 PM Pacific Time (6:30PM Eastern Time)
Webcast: https://www.webcaster4.com/Webcast/Page/2986/48837