Global Crossing Airlines Signs – GuruFocus.com

MIAMI, June 14, 2022 (GLOBE NEWSWIRE) — Global Crossing Airlines Group, Inc. (JET: NEO; JET.B: NEO; JETMF: OTCQB) (the “Company” Where “GlobalX”) is pleased to announce the signing of a second Airbus A321 operating lease with Greenwich Highland Aviation, LLC (“GHA”) managed entity (the “PlaneP2F“) program.

GHA has arranged the acquisition of the aircraft (MSN 1953), which will begin conversion in July 2022 and enter service with GlobalX by January 2023.

“We are delighted to sign our second lease of our initial agreement for four A321 freighters with Greenwich Highland Aviation. Our first GHA A321F is scheduled for delivery in September 2022, and we look forward to receiving the second freighter by the end of 2022. Our XCargo™ division is progressing rapidly, with our first dedicated A321F flying for Avianca,” said Ed Wegel, President and CEO of GlobalX.

“We are proud to provide GlobalX with additional A321P2F freighter aircraft as they grow their fleet and freighter operations,” said Stuart Peebles, director of Greenwich Highland Aviation.

About Global Crossing Airlines

GlobalX is a US national flag 121 and additional airline flying the Airbus A320 family aircraft. GlobalX flies as an ACMI passenger and charter airline serving the United States, Caribbean and Latin American markets. In 2022, GlobalX will enter ACMI freighter service flying the A321 freighter, subject to DOT and FAA approvals. For more information, visit www.globalxair.com.

About Greenwich Highland Aviation (GHA)

Formed in 2011 by a team of aviation industry professionals, each with over 25 years of experience, GHA has grown into a highly successful lessor and trader, specializing in particular in the A320 family. Building on previous individual experience in converting and leasing P2F narrowbody equipment, GHA has been developing its A321 P2F leasing offering for the narrowbody freighter market for some time.

For more information please contact:

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

Caution Regarding Forward-Looking Statements

This press release contains certain “forward-looking statements” and “forward-looking information”, as defined by applicable United States and Canadian securities laws, regarding anticipated developments and events that may occur in the future. Forward-looking statements in this press release include, but are not limited to, statements regarding the size of the Company’s aircraft fleet, the destinations the Company intends to serve, delivery times, A321F conversion and entry into service and cargo operations details.

In some instances, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “budget”, “expected”, “estimates”, “anticipates”, “intends”, ” anticipates” or variations of such words and phrases or statements that certain actions, events or results “could”, “could”, “will”, “could” or “will be taken”, “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 statements contained in this press release are based on certain factors and assumptions regarding, among other things, the receipt of funding to continue flight operations; the accuracy, reliability and success of GlobalX’s business model; GlobalX’s ability to accurately forecast demand; the timely receipt of government approvals; the success of GlobalX’s flight operations; GlobalX’s ability to successfully enter new geographic markets; the legislative and regulatory environments of the jurisdictions where GlobalX will operate or conduct business; the Company has or will have a sufficient number of aircraft to provide the service; the impact of competition and the competitive response to GlobalX’s business strategy; future fuel prices and aircraft availability. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. forward-looking statements. These factors include risks relating to the ability to obtain financing on acceptable terms, the impact of general economic conditions, risks relating to the supply chain and labor disruptions, the inability to retain or obtaining sufficient aircraft, domestic and international airline industry conditions, the effects of increased competition from our market competitors and new market entrants, lower than expected passenger demand, the impact of the global uncertainty created by COVID-19, future shareholder relations, fuel price volatility, increased operating costs, terrorism, pandemics, disasters, currency fluctuations, interest rates interest, risks specific to the airline industry, risks associated with doing business in foreign countries, management’s ability to implement the strategy GlobalX’s operational strategy, the ability to attract qualified executives and personnel, labor disputes, regulatory risks, including risks related to the acquisition of necessary licenses and permits; risks relating to a material disruption or breach of security of GlobalX’s information technology systems and resulting service interruptions and any related impact on its reputation; and the additional risks identified in the “Risk Factors” section of the Company’s reports and documents filed with applicable Canadian securities regulators and the United States Securities and Exchange Commission. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in the forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or expected. Accordingly, readers should not place undue reliance on forward-looking statements. Forward-looking statements are made as of the date of this press release. Except as required by applicable securities laws, the Company undertakes no obligation to publicly update any forward-looking statements. If GlobalX updates one or more forward-looking statements, no inference should be made that it will make any additional updates with respect to such or other forward-looking statements.

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