Global Crossing Airlines announces agreement for A321 freighters with Greenwich Highland Aviation

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MIAMI, October 05, 2021 (GLOBE NEWSWIRE) – Global Crossing Airlines Group, Inc. (JET: TSX-V; JET.B: TSX-V; JETMF: OTCQB) (the “Society” Where “GlobalX“) announces the signing of an order for the long-term lease of four Airbus A321 Passenger-Freighter (P2F) with options for several additional units from an entity managed by Greenwich Highland Aviation, LLC (” GHA “).

GHA has arranged for the acquisition of the four Airbus A321 passenger aircraft, the first of which (MSN 1438) will begin conversion in January 2022 and enter service with GlobalX in July 2022. The second aircraft (MSN 1953) will begin conversion in June 2022 and will be commissioned by GlobalX in December 2022. The next two aircraft will be converted and leased to GlobalX in 2023.

“We are very pleased to conclude these long term lease orders with Greenwich Highland – an experienced and successful lessor who understands the narrow-body cargo market and our special requirements. We hope and plan to expand this deal beyond the first four aircraft and convert more A321s with GHA, ”said Ed Wegel, Chairman and CEO of GlobalX.

“We are very impressed with GlobalX’s execution of its business plan and its progress in building a world-class charter airline. We look forward to working closely with Ed and his great team to deliver these four aircraft and more as we continue to develop our long-term, mutually beneficial partnership, ”said Stuart Peebles, Director of Greenwich Highland Aviation.

About Greenwich Highland Aviation (GHA)

Formed in 2011 by a team of professionals from the aeronautical industry, each with more than 25 years of experience, GHA has become a very successful lessor and trader, specializing in particular in the A320 family. Building on previous individual experience in the conversion and rental of P2F narrow-body equipment, GHA has been developing its A321 P2F rental offering for the narrow-body cargo market for some time.

About Global Crossing Airlines

GlobalX is a US 121 national carrier and an additional airline using Airbus A320 family aircraft. GlobalX flies as an ACMI charter and crewed charter airline serving markets in the United States, the Caribbean and Latin America. For more information, please visit www.globalxair.com.

For more information please contact:

Mark Salvador, Director of Marketing
E-mail: [email protected]
Phone : 786.751.8510

Or

Tracie Gunion, Investor Relations
E-mail: [email protected]
Phone : 786.793.5424

Caution regarding forward-looking information

This press release contains “forward-looking information” regarding anticipated developments and events that may occur in the future. Forward-looking information contained in this press release includes, without limitation, statements regarding the Company’s intention to fly as an ACMI chartered and crewed airline, the size of the Company’s aircraft fleet. , the number of aircraft on order, the conversion and entry-into-service times and the destinations that the Company intends to serve.

In some cases, forward-looking information may be identified by the use of words such as “plans”, “expects”, “budget”, “planned”, “estimates”, “forecasts”, “intentions”, ” anticipate “or” or variations of these words and phrases or statements that certain actions, events or results “might”, “could”, “would”, “could” or “would”, “occur” or “will be achieved” suggesting future results, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements regarding future events or performance. The forward-looking information contained in this press release is based on certain factors and assumptions concerning, among other things, the conclusion of definitive leases for the aircraft detailed in this press release, the receipt of financing to continue airline operations, the ” accuracy, reliability and success of GlobalX’s business model; timely receipt of government approvals; the success of GlobalX’s flight operations; the legislative and regulatory environment in the jurisdictions in which GlobalX will operate or operate; the impact of competition and the competitive response to GlobalX’s business strategy; and the availability of aircraft. Although the Company considers these assumptions to be reasonable on the basis of the information currently available to it, they may prove to be inaccurate.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by the companies. forward-looking information. These factors include the risks associated with the inability to enter into definitive leases for the aircraft detailed in this press release, the ability to obtain financing on acceptable terms, the impact of general economic conditions, of the domestic and international air transport industry, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility in fuel prices, increasing operating costs, the terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement the GlobalX operational strategy, the ability to attract managers and qualified personnel, labor disputes, regulatory risks, including risks associated with the acquisition of the necessary licenses and permits; and additional risks identified in the “Risk Factors” section of reports and documents filed by the Company with applicable Canadian securities regulatory authorities. Although the Company has attempted to identify important factors which could cause actual results to differ materially from those described in forward-looking information, other factors may cause results not to be as anticipated, estimated or planned. Therefore, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release. Except as required by applicable securities laws, the Company assumes no obligation to publicly update any forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepted responsibility for the adequacy or accuracy of this release.

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