Global Crossing Airlines Group Inc - JETMF stock
Overview[edit]
Airline services are provided by the Global Crossing Airlines Group Inc. (OTC: JETMF, NEO: JET). Clients buy passenger aircraft from the company via aircraft operating service agreements, which also cover personnel, maintenance, and insurance costs, as well as charter services. Customers all across the world are served by Global Crossing Airlines Group.[1]
Global Crossing Airlines Group Inc.'s (GlobalX) US Part 121 flag carrier and charter airline relies heavily on Airbus A320s as its primary aircraft type. The company offers its help through the aircraft, crew, maintenance, and insurance basis (ACMI), in addition to the Full-Service Contract. Both of these contract types are considered to be different contract types. The provision of ACMI services and wet lease contracts to airlines based in the United States and elsewhere in North and South America, as well as the cultivation of aircraft interchanges with European charter/tour operators, and the provision of ad hoc and track charters to clients who are not affiliated with airlines, are at the core of GlobalX's business model. GlobalX also provides aircraft interchanges with European charter/tour operators. Initially, GlobalX could only operate with one leased passenger aircraft from the Airbus A320-200 fleet family. This aircraft was an Airbus A320-200. The Company serves specialized markets by, among other things, providing airlift for political campaigns, professional sports teams, and concert tours.[2]
eVTOLs[edit]
GlobalX signed a letter of intent to purchase 200 eVTOLs from Eve Air Mobility. The first 10 eVTOLs are expected to be delivered in 2026. GLobalX and Eve are planning to launch electric commuter flights in South Florida area in 2026.[3]
Financial Performance[edit]
Financial performance for Global Crossing Airlines Group:[4]
| Year Ending | Total Revenue | Net Income | Earnings Per Share | Total Liabilities | Cash Position |
|---|---|---|---|---|---|
| 12/31/2022 | 97,110,000 | (15,821,000) | (0.30) | 58,420,000 | 1,876,000 |
| 12/31/2021 | 14,292,000 | (19,819,000) | (0.43) | 34,828,000 | 5,242,000 |
| 12/31/2020 | 0 | (2,044,000) | (0.11) | 6,869,000 | 526,000 |
- ↑ Bloomberg.com. About JETMF Stock. Retrieved on 12/12/2022.
- ↑ Finance Yahoo. Global Crossing Airlines Announces Profitability for Third Quarter 2022 with EBITDAR of $5 Million and an EBITDA of $1 Million. November 1, 2022.
- ↑ GlobeNewswire. UrbanX Air and Eve Air Mobility Collaborate to Bring First Electric Air Commuter Flights to Miami. December 12, 2023.
- ↑ Yahoo Finance. JETMF Stock Financials. Retrieved on 12/13/2023.
OTC Symbol: JETMF | OTC Tier: OTCQB
