Summary of Global Crossing Airlines Group (JETM.F) Conference Call Company Overview - Global Crossing Airlines, referred to as Global X, is the fastest growing charter airline in North America, focusing on on-time performance and reliability [2][3] - The company launched in February 2020 and began revenue flights in August 2021, growing from one aircraft to 19 by 2025 [4][6] Growth and Market Position - The aviation market is described as a multibillion-dollar industry, with Global X capturing a small share of the charter market for both cargo and passenger services [6][7] - The company operates as an ACMI (Aircraft, Crew, Maintenance, and Insurance) operator, which allows for lower risk and costs compared to scheduled carriers [8][10] - Global X has established bases in Alexandria, Louisiana, and Harlingen, Texas, allowing for efficient service across the U.S. [14] Financial Performance - For Q2 2025, revenue increased by 7% to $61 million, with EBITDAR rising by 6% to $19.8 million [18][20] - The company operates at 8,065 block hours, achieving an average of 471 hours per aircraft per quarter, exceeding their target of 450 hours [22][25] - Cash and equivalents at the end of Q2 were $14.1 million, with a fleet size of 19 aircraft [22] Business Model and Strategy - The business model focuses on selling the whole plane rather than individual seats, allowing for more predictable revenue streams [10][12] - The company aims to grow its fleet, with plans to add more aircraft, targeting a 20% fleet growth by the end of the year [25][26] - Global X is also expanding into the European market and cargo operations, with the latter being a key growth area due to the rise of e-commerce [27][29] Operational Efficiency - The company emphasizes high-margin ACMI business for better utilization and predictability [26] - Transitioning to a hybrid ownership model, starting with the acquisition of an Airbus A320, is expected to enhance operational flexibility and financial performance [30][31] Employee Engagement and Share Structure - Employee ownership is high, with about 5% of issued common shares owned by employees participating in a share purchase plan [36][37] - The company has maintained a tight share structure without significant dilution since April 2021 [35][36] Conclusion - Global Crossing Airlines is positioned as a rapidly growing player in the charter airline market, with a focus on operational efficiency, financial performance, and employee alignment with company goals [33][34]