GLOBALX2023-06-01T16:15:28+00:00

Global Crossing Airlines Group Inc. (GlobalX) NEO: JET | NEO: JET.B | OTCQB: JETMF

GlobalX is a Miami based, rapidly growing charter and cargo airline that services the U.S., Caribbean, European and Latin American markets flying the Airbus A320 family aircraft.

INVESTMENT CONSIDERATIONS
NEW BREED OF HYBRID CHARTER AND CARGO AIRLINE

RECENT ACHIEVEMENTS (ALL $USD)

  • Revenues Q1/2023 =$32.2 Million = UP 96% vs. Q1/2022

  • Pilot pool grew to 85 (Q1/2023)

  • Revenues 2022 = $97.1 Million = 8% above $90 Million forecast
  • 2022 yearend fleet size – 8 passenger aircraft
  • Operated Revenue flights to 266 airports for 105 Customers
  • Established NCAA core business
  • Dominated Florida to Dominican Republic Charter market
  • Established leading charter airline to Cuba
  • Established US Government contracts
  • Monthly Block hours flown per aircraft reached new high of 150 in March 2023

OUTLOOK 2023

  • 2023 revenue forecast base case $140+ Million & positive EBITDAR/EBTIDA
  • Base case budget is 74% contracted (as of March 31)
  • Assumes yearend fleet of only current size of 9 Passenger & 2 Cargo aircraft
  • 2023 fleet size target @ year end
  • Passenger – 9 to 12 aircraft
  • Cargo – 2 to 6 aircraft

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Capital Structure

September 30, 2022

Shares Outstanding: 56,720,094

Warrants: 12,376,020

$1.24 USD – Expiry Mar.2024 – 4,838,707

$1.50 USD – Expiry Apr.2026 – 7,537,313

Options: 570,668

RSUs: 4,463,757

Fully Diluted: 74,130,539

Insider Ownership: 38%

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The Howard Group (HG) is not a registered investment advisor and as such, individuals should consult a registered investment advisor prior to making any investment decisions. The information presented was obtained from sources believed to be reliable but is not guaranteed, is not all conclusive and should not be relied upon as the sole source of information/opinion for making an investment decision. The Howard Group receives remuneration for Capital Market Communication activities and HG or its employees may own securities in client companies.

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