Reports More Than Quadrupled EBITDA on Record Asset Utilization and First Ever Annual Positive Operating Income and Record Operating Cash FlowMIAMI, March 04, 2026 (GLOBE NEWSWIRE) -- Global Crossing Airlines Group, Inc. (Cboe CA: JET, Cboe CA: JET.B, OTCQB: JETMF) (the “Company” or “GlobalX”), The Nation's Fastest Growing Charter Airline®, today announced its financial and operating results for the fourth quarter and full year ended December 31, 2025. Except as otherwise disclosed, all figures are presente ...

Core Viewpoint - Global Crossing Airlines Group, Inc. (GlobalX) will host a conference call on March 5, 2026, to discuss its financial results for Q4 and the full year ended December 31, 2025 [1][2]. Group 1: Conference Call Details - The conference call is scheduled for March 5, 2026, at 8:30 a.m. Eastern time [1][2]. - Interested parties can submit questions via email prior to the call [2]. - The call will be accessible through a toll-free number and an international dial-in number [2]. Group 2: Company Overview - GlobalX operates as a US domestic flag and supplemental airline, utilizing the Airbus A320 family of aircraft [4]. - The company provides domestic and international ACMI and charter flights for passengers and cargo across the US, Caribbean, Europe, and Latin America [4]. - GlobalX is IOSA certified by IATA and holds TCOs for Europe, the UK, and Australia [4].

Core Insights - Global Crossing Airlines Group, Inc. reported a revenue growth of 11% year-over-year, reaching $58.0 million for Q3 2025, driven by increased demand in ACMI operations [1][7] - The company experienced significant operational challenges, including logistics disruptions and unscheduled maintenance, which impacted net income [3][7] - Management has implemented measures to improve operational efficiency and reduce costs, aiming for profitability in the upcoming quarters [3][7] Financial Performance - Revenue for Q3 2025 was $58.0 million, up from $52.4 million in Q3 2024, marking an 11% increase [2][7] - Net loss improved to $2.0 million from $4.9 million year-over-year, with loss per share improving to $(0.03) from $(0.08) [2][7] - EBITDAR increased by 22% to $18.9 million compared to $15.4 million in the previous year [2][7] - EBITDA improved significantly to $4.3 million from a loss of $(0.6) million in Q3 2024 [2][7] Operational Highlights - The company achieved record aircraft utilization with 9,901 block hours, a 23% increase from 8,064 block hours in Q3 2024 [2][3] - Average utilization hours per aircraft rose by 26% to 618 hours [2][3] - The fleet size increased to 15.9 aircraft, up from 15.2, reflecting a 5% growth [2][3] Management Actions - Management acknowledged execution issues that led to missed profitability targets and has taken steps to address these challenges, including leadership changes and process redesigns [3][7] - The company has reduced annualized office and operating costs by over $5 million through reorganization and tighter SG&A discipline [3][7] - Enhanced maintenance planning and logistics improvements are expected to prevent future operational disruptions [3][7] Future Outlook - Bookings across all charter customer segments are at record levels, indicating strong demand heading into the final quarter of the year [3][7] - The company plans to focus on disciplined growth and profitable expansion in 2026, with additional aircraft deployment to meet rising demand [3][7]

Core Viewpoint - Global Crossing Airlines Group, Inc. (GlobalX) is set to host a conference call on November 6, 2025, to discuss its financial results for Q3 2025, highlighting its status as the fastest growing charter airline in the nation [1][4]. Group 1: Conference Call Details - The conference call will take place on Thursday, November 6, 2025, at 8:30 a.m. Eastern time [1][2]. - Interested parties can submit questions via email prior to the call [2]. - The call will be accessible through a toll-free number and an international dial-in number, with a specific Conference ID provided [2]. Group 2: Company Overview - GlobalX operates as a US 121 domestic flag and supplemental airline, utilizing the Airbus A320 family of aircraft [4]. - The company offers both domestic and international ACMI and charter flights for passengers and cargo across the US, Caribbean, Europe, and Latin America [4]. - GlobalX is IOSA certified by IATA and holds TCOs for operations in Europe and the UK [4].

Core Viewpoint - Global Crossing Airlines Group, Inc. (GlobalX) is set to host a conference call on August 14, 2025, to discuss its financial results for Q2 2025, highlighting its status as the fastest growing charter airline in the nation [1][2]. Group 1: Conference Call Details - The conference call will take place on Thursday, August 14, 2025, at 5:00 p.m. Eastern time [1][2]. - Interested parties can submit questions via email prior to the call [2]. - The call will be accessible through a toll-free number and an international dial-in number, with a specific Conference ID provided [2]. Group 2: Company Overview - GlobalX operates as a US 121 domestic flag and supplemental airline, utilizing the Airbus A320 family of aircraft [4]. - The company provides domestic and international ACMI and charter flights for both passengers and cargo across the US, Caribbean, Europe, and Latin America [4]. - GlobalX is IOSA certified by IATA and holds TCOs for operations in Europe and the UK [4].

Core Insights - Global Crossing Airlines Group, Inc. has completed its first aircraft acquisition and signed lease agreements for four additional Airbus aircraft, marking significant steps in its business expansion [1][3] Aircraft Acquisition - The company has acquired an Airbus A320, currently operating as N630VA, purchased from Falcon 2019-1 Aerospace Limited, with financing from Volofin Capital Management Ltd. [2] - This acquisition signifies a transition from an exclusively leased fleet to a hybrid ownership model, which is expected to enhance long-term operating cost management and asset value [3] Fleet Expansion - GlobalX has signed lease agreements for four Airbus A319 aircraft to meet increasing demand, representing over a 20% increase in its current fleet [4] - The first A319 is expected to be delivered on August 31, 2025, with subsequent deliveries planned for September 30, October 31, and November 30, 2025 [4] - Upon completion of these deliveries, GlobalX will operate a fleet of 22 Airbus A320 family aircraft, pending FAA and DOT approvals [4] Company Overview - GlobalX operates as a US 121 domestic flag and supplemental airline, providing domestic and international ACMI and charter flights for passengers and cargo across the US, Caribbean, Europe, and Latin America [5]

Financial Performance - The company reported revenue of $66.6 million for Q1 2025, a 24% increase from $53.8 million in Q1 2024, driven by higher block hours flown and fleet expansion [3][5] - Net income improved to $0.2 million in Q1 2025 from a loss of $6.4 million in Q1 2024, with earnings per share rising to $0.00 from a loss of $0.11 [3][5] - EBITDAR increased approximately 2x to $20.6 million compared to $9.3 million in the previous year, attributed to increased revenue and higher average rates per block hour flown [3][5] Operational Highlights - The total block hours flown increased by 29% to 7,546 hours in Q1 2025 from 5,859 hours in Q1 2024 [3][5] - The average utilization per aircraft rose by 6% to 442 hours in Q1 2025 compared to 416 hours in Q1 2024 [3] - The company expanded its fleet to 16.7 aircraft, a 34% increase from 12.5 aircraft in the previous year [3][5] Management Commentary - The Executive Chairman emphasized the growing momentum of the charter platform and the execution of the strategic plan, highlighting improvements in revenue and profitability across all business segments [4] - The President and CFO noted a strong start to the year with significant improvements in EBITDAR, EBITDA, and net income, despite maintenance activities on ten aircraft [4] Cash Flow and Liquidity - Cash flow from operations improved to $0.1 million in Q1 2025 from a cash used of $2.1 million in Q1 2024, driven by improved profitability and efficiency gains [5] - The company had approximately $10.2 million in cash and restricted cash as of March 31, 2025, down from $14.0 million at the end of 2024 [7]

Core Viewpoint - Global Crossing Airlines Group, Inc. (GlobalX) is set to host a conference call on May 8, 2025, to discuss its financial results for Q1 2025, highlighting its status as the fastest growing charter airline in the nation [1][5]. Group 1: Conference Call Details - The conference call will take place on Thursday, May 8, 2025, at 8:30 a.m. Eastern time, with a question-and-answer session following the management's presentation [2]. - Interested parties can submit questions via email prior to the call, and the call will be accessible through a toll-free number and an international dial-in number [2]. - A replay of the conference call will be available on the investor relations section of the company's website [3]. Group 2: Company Overview - GlobalX operates as a US 121 domestic flag and supplemental airline, utilizing the Airbus A320 family for its services, which include domestic and international ACMI and charter flights [4]. - The company is IOSA certified by IATA and holds TCOs for operations in Europe and the UK, indicating compliance with international safety and operational standards [4].