Global Crossing Airlines Group (GlobalX) operated over 2,500 block hours in July and approximately 2,400 block hours in August, bringing the quarter total to 4,900 compared to 3,157 hours in July and August 2022, a 55% increase.
Global X chairman and CEO Ed Wegel said that the company was continuing the “strong momentum gained in July with nine passenger aircraft and 2 A321 Freighters operating, adding that he expects a “strong finish to the third quarter” as the company transitions to the fall program”.
During the third quarter, Global X has taken delivery of it 10th passenger aircraft, N285GX, and it has started revenue operations on September 1. The team also signed a new $4M ACMI Government contract for September and October “with potential to be extended into a multi-year contract”, Global X also closed on a $35 million financing, which enables the company to add six additional aircraft this year and all planned deliveries in 2024.
Global X has signed contracts with two major tour operators each launching new three times a week service to Caribbean destinations; and signed contracts with a cargo operator establishing new cargo routes to several Caribbean countries, including Jamaica and Trinidad.
The airline signed an LOI for one additional A321 passenger aircraft to be delivered in Q4 2023 and two additional A321 freighters to be delivered in 2024.
Global X has scheduled he delivery of its 11th passenger aircraft, an A320, in October and the 12th passenger aircraft in December 2023.