Global Crossing Airlines Announces Record Block Hours

MIAMI, Oct. 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 Q3 in addition to announcing our planned Q3 earnings release date in November and the date of the Company’s Annual General Meeting in December.

GlobalX operated 6,504 block hours in Q3 2023 compared to 3,585 hours in Q2 2023, an 81% increase. Of the hours operated in Q3 2023, 70% were operated on an ACMI basis and 30% were operated on a Charter basis, which compares to Q2 2023 where 38% were operated on an ACMI basis and 62% were operated on a Charter basis.

The Company also confirms that its third A321F will be delivered the week of October 10^th, its 11^th passenger aircraft will deliver the week of October 20^th and 12^th A320 passenger aircraft will deliver the second week of November, 2023.

The Company intends to announce its Q3 2023 financial results and business update prior to market open on Wednesday November 8^th and will be hosting a Zoom webinar to provide a business update and discuss the Q3 2023 financial results the same day.

When: Nov 8, 2023 01:00 PM Eastern Time (US and Canada)
Topic:  Global Crossing Airlines – Q3 2023 Earnings Release & Management Update
Register in advance for this webinar:
https://us02web.zoom.us/webinar/register/WN_Ny8iUmDYRHaPeOCqPU8Scg

In addition, the Company announces it will host its Annual General Meeting at its Miami Headquarters at 10am on December 13, 2023, with more details to follow.

About Global Crossing Airlines

GlobalX is a US 121 domestic flag and supplemental Airline flying the Airbus A320 family aircraft. GlobalX flies as a passenger ACMI and charter airline serving the US, Caribbean, European and Latin American markets. GlobalX is also now operating ACMI cargo service flying the A321 freighter. GlobalX is IOSA certified by IATA and holds TCO’s for Europe and the UK. For more information, please visit www.globalxair.com.

For more information, please contact:

Ryan Goepel, Chief Financial Officer
Email: [e-mail]
Tel: [phone]

Cautionary Note Regarding Forward-Looking Information

This news release contains certain “forward looking statements” and “forward-looking information”, as defined under applicable United States and Canadian securities laws, concerning anticipated developments and events that may occur in the future. Forward-looking statements contained in this news release include, but are not limited to, statements with respect to the Company’s aircraft fleet size, the destinations that the Company intends to service, the delivery and entry into service timelines for future aircraft, the timeline for release of financial results and the Company’s growth plans.