It’s been a record flying season for GlobalX with the company releasing details of the achievement today (September 5th)  along with news that its  10th passenger aircraft is now in revenue service.

The airline flew 4,900 block hours throughout July and August, a 55% increase over the same months in 2022.

Further details of its Q3 activities are below: 

  • Taken delivery of the  10th passenger aircraft, N285GX, which  started revenue operations on September 1st
  • Signed a new $4M ACMI Government contract for September and October – with potential to be extended into a multi-year contract
  • Closed on a $35 million financing, which allows GlobalX  to add six additional aircraft this year and meet all planned deliveries in 2024
  • Signed contracts with two major tour operators, each launching new 3 times a week service to Caribbean destinations.
  • Signed contracts with a cargo operator establishing new cargo routes to several Caribbean countries, including Jamaica and Trinidad.
  • Successfully flown for Wizz Air, Lynx Air, TUI and Caribbean Airlines and provided additional lift to  sister company, Canada Jetlines
  • Signed an LOI for 1 additional A321 passenger aircraft to be delivered in Q4 2023 and 2 additional A321 freighters to be delivered in 2024
  • Scheduled the delivery of the r 11th passenger aircraft in October and the 12th passenger aircraft in December 2023- both A320s
  • Increased  pilot head count to 123 with another 10 direct entry Captains starting on September 11.

Bancroft Capital Analyst Ian Macqueen has broken down GlobalX’s Flight Hour Distribution between its aircraft through to August 2023 and can be reviewed in the chart below:

Flight hour distribution

GlobalX CFO, Ryan Goepel will be presenting at two investor conferences both in person and online on Wednesday, September 6th. Details can be found in the link to the formal news release.

View full news release HERE.