Tag Archives: Global Crossing Airlines

Global Crossing Airlines establishes UrbanX Air to pursue urban air mobility in South Florida

Global Crossing Airlines Group, Inc., which operates the Miami-based airline GlobalX, has announced the creation of UrbanX Air, a wholly-owned subsidiary of GlobalX to pioneer the integration of Urban Air Mobility (UAM) in South Florida (subject to receiving all FAA and DOT approvals). In conjunction with this announcement, GlobalX Chairman and CEO, Ed Wegel, an aviation industry veteran, has appointed Lucy Morillo, Esq., as President and CEO of UrbanX.

UAM is the concept of flying highly automated, electrically propelled small aircraft to help commuters navigate short distances at lower altitudes in urban and suburban areas, combatting traffic congestion and improving travel times, while providing a safer, faster, and greener mode of transportation.

Morillo – an attorney, community leader, and serial entrepreneur with decades of executive experience in the business, private equity and non-profit sectors – is responsible for leading UrbanX’s launch and further developing the UAM ecosystem in South Florida. With this appointment Morillo becomes one of the few Hispanic female CEOs in the aviation and urban air mobility space. She is a member of the Wings Club; the Florida Department of Transportation (FDOT) Advanced Air Mobility Advisory Committee (AAMAC); the International Aviation Womens Association (IAWA); and EVE’s Air Mobility Advisory Board.

Morillo is working with local and state officials, infrastructure, energy and technology providers to ensure the appropriate framework is in place. For the past three decades, Morillo has established herself as a trusted member of the C-suite by building stakeholder engagement, fostering cross-functional relationships, enhancing corporate culture and managing risk in a fast-paced growth environment.

GlobalX, a U.S.-based 121 domestic flag and supplemental airline with more than 600 aviation professionals, will leverage its extensive aviation operation and knowledge to assist Morillo and UrbanX in developing and operating the UAM market in South Florida. In 2022, GlobalX signed a letter of intent to purchase 200 electric vertical take-off and landing aircraft (eVTOL) from Eve Air Mobility, a subsidiary of aircraft manufacturer Embraer and a leader in global eVTOL development. With delivery of its first Eve eVTOL expected in 2026, GlobalX is poised to be the first to bring the innovative aircraft technology to South Florida, revolutionizing urban transportation in the region.

As President and CEO, Morillo is committed to operating UrbanX under a social enterprise business model, working in conjunction with local governments to ensure the service the company offers benefits not only the passengers but the surrounding communities.

In addition to leading UrbanX, Morillo is a principal and co-founder of LM & Associates (LMA), a women-owned marketing and communications firm providing support to socially conscious brands, and co-owner and publisher of S Revista, a luxury lifestyle publication that has quickly risen to prominence as the preeminent lifestyle magazine for Spanish speakers in the United States. Additionally, Morillo is President-Elect of the International Women’s Forum (IWF) Florida Chapter, an invitation-only network of women business leaders throughout the globe.

Throughout her career, Morillo has also held leadership roles in several large organizations based in the Miami area. As the Executive Director of Estates and Gift Planning for the University of Miami (UM), she was responsible for securing nearly $350 million as part of UM’s Momentum Campaign. Then, she took the helm of Miami Children’s Hospital Foundation, and managed $100 million in assets and was instrumental in securing a $60 million gift to rename the hospital after Jack and Barbara Nicklaus. Morillo also has vast legal and executive experience, including establishing an international legal team to expand a telecom company into nine Latin American countries.

The completion of the transactions contemplated by the Eve Air Mobility LoI is subject to the execution of definitive agreements and receipt of all necessary regulatory approvals.

Global Crossing Airlines CFO – “We’re in Hyper Growth”

From the Howard Group:

Demand and opportunity for one of the world’s fastest growing hybrid charter and cargo airlines was the theme of Ryan Goepel’s presentation at the recent Emerging Growth Conference. One comment essentially sums up the growth scenario when Mr. Goepel stated that, “we are probably turning down $4 to $5 million a month in work and if we looked at some of our fall and winter work, we’re effectively sold out.”

GlobalX has 2 cargo aircraft and just took possession of its 10th passenger (PAX) aircraft. The objective is to reach 6 cargo and 12 PAX in the fleet by year end.

Founded in 2009, EmergingGrowth.com is a leading independent small cap media portal and identifies emerging growth companies and markets that can be overlooked by the investment community.

The 30 minute presentation along with Q&A can be viewed here.

Eve and Global Crossing Airlines sign Letter of Intent for up to 200 eVTOL aircraft and enable future collaboration for UAM

Eve UAM, LLC and Global Crossing Airlines Group, Inc. (GlobalX) have signed a Letter of Intent (LoI) to order up to 200 of Eve’s electric vertical take-off and landing aircraft (eVTOL). This potential sale is included in Eve’s current order backlog of up to 1,785 eVTOLs. The company expects to start the deliveries in 2026.

The agreement also enables a promising partnership that intends to explore the development of an ecosystem to scale Urban Air Mobility (UAM) and reinforces the Concept of Operations (CONOPS) in Miami-Dade County that was announced today. GlobalX’s expertise as a flag airline will contribute not only to the formulation of the infrastructure needed to permit eVTOL flights, but also the deployment of Eve’s aircraft throughout their network.

Global Crossing Airlines reports a loss of $5.26 million in its first quarter, now operates for Havana Air, will fly for Jetlines, introduces a new livery

Global Crossing Airlines (GlobalX) issued this financial report for its first quarter:

Significant highlights and milestones for the quarter include:

Obtained its US FAA Aircraft Operating Certificate as a US 121 Flag and Supplemental Carrier
Obtained its Certificate of Public Convenience and Necessity for Foreign Charter Air Transportation from the US DOT to Fly Internationally
Entered Revenue Service on August 7, 2021 with one Airbus A320 Aircraft; Three aircraft in operation by September 30, 2021
Signed leases for one Airbus A321 converted freighter and two A320 passenger aircraft; Signed letters of intent for one A321 converter freighter and one A320 passenger plane

Global Crossing Airlines Group, Inc. “GlobalX” reported its financial results for its first quarter of revenue operations which occurred in the third quarter ended September 30, 2021, including revenue of $3.1M and net operating loss of $5.26M or ($.10) per diluted share. Included in GlobalX’s operating results are an estimated $2.1 million in expense related to pre-revenue operations during the quarter, as well as approximately $750 thousand in non-recurring expenses. All dollar amounts in this press release are in United States dollars.

“WE HAD A VERY SMOOTH ENTRY INTO REVENUE OPERATIONS AND THE GLOBALX TEAM HAS PERFORMED EXCEEDINGLY WELL,” SAID ED WEGEL, CHAIRMAN AND CEO OF GLOBALX. “DURING OUR FIRST SEVEN WEEKS OF OPERATIONS WE OPERATED MORE THAN 150 REVENUE FLIGHTS, AND APPROXIMATELY 400 BLOCK HOURS, FOR NEARLY A DOZEN CUSTOMERS.”

“ON AUGUST 30^TH, WE RECEIVED OUR FINAL AUTHORITY FROM THE US DEPARTMENT OF TRANSPORTATION TO FLY INTERNATIONAL CHARTERS. THIS ENABLES US TO FLY TO THE CARIBBEAN, MEXICO, LATIN AMERICA, AND CANADA. WE CAPITALIZED ON THAT AUTHORITY BY IMMEDIATELY EXECUTING ON INTERNATIONAL CONTRACTS, AND WE HAVE BEEN CONTINUING TO EXPAND OUR INTERNATIONAL CLIENT BASE.”

MR. WEGEL FURTHER ADDED: “NOW THAT THE FAA CERTIFICATION IS BEHIND US, OUR FOCUS IS ON DELIVERING EXCEPTIONAL CUSTOMER VALUE, WHILE SCALING THE AIRLINE TOWARDS PROFITABILITY. WE ARE EXTREMELY ENCOURAGED ABOUT THE DEMAND FOR OUR PRODUCT OFFERING AS WELL AS OUR GROWING PORTFOLIO OF CUSTOMERS.”

Third-Quarter Results

Flights in the third quarter of 2021 totaled 378 block hours with revenue of $3.1M, both of which were zero for the same period in 2020. Operating losses during the quarter were driven by the investments necessary to achieve FAA certification and limited number of aircraft. During the quarter GlobalX operated two Airbus A320s and one Airbus A321 aircraft for 91 total combined days available for sale.

GlobalX ended the quarter with $8.9 million in cash and restricted cash.

Outlook

Looking ahead, GlobalX projects strong demand for its services and a resulting increase in revenue block hours in the fourth quarter of 2021. GlobalX will seek to continue to increase its flight activity to Cuba and the Dominican Republic, as well as flights on behalf of the US Government agencies, US-based hotel and casino operators, and for college football team clients (including NCAA football bowl game flights). GlobalX is accepting delivery of three aircraft in the coming weeks and expects to have as many as 6 aircraft operating by the end of the year. This will result in an estimated 270% increase in total combined aircraft days available for sale in the fourth quarter versus third.

Commenting on the results, Mr. Wegel stated: “We believe we are now developing a strong foundation for our airline, with a strong team of airline professionals, and we are well positioned going into 2022.”

About Global Crossing Airlines

GlobalX is a US 121 domestic flag and supplemental airline flying the Airbus A320 family aircraft. GlobalX flies as an ACMI and wet lease charter airline serving the US, Caribbean, and Latin American markets.

In other news, Canada Jetlines Operations Ltd. and Global Crossing Airlines Group Inc. have announced that Canada Jetlines (through its Canada Jetlines Vacations Ltd.) subsidiary, and GlobalX (through its GlobalX Air Tours LLC subsidiary) intend to launch their first partnership on the sale of public charter flights between Toronto and Florida.

The arrangement is the first between the two companies since GlobalX completed the spin out of Canada Jetlines in June 2021 to shareholders. Under the terms of the arrangement, Canada Jetlines Vacations will jointly market and sell seats on GlobalX public charter flights over a six-week period. Round trip charter flights are expected to operate from Toronto to Miami and Fort Lauderdale weekly beginning in March 2022.

The parties are targeting that tickets will go on sale in December 2021, pending receipt of all final regulatory approvals including approval from, and completion of Canada Jetlines Vacation registration with, the Travel Industry Council of Ontario (TICO).

Flights will be operated on GlobalX Airbus A320 aircraft.

Canada Jetlines intends to start operating flights to Florida with its own A320 aircraft once it has completed its certification and receives all required government approvals.

In other news, GlobalX also announced on November 15 it commenced operations for Havana Air:

Global Crossing Airlines Group, Inc. and ViajeHoy, LLC, d/b/a Havana Air (Havana Air) are pleased to announce that they have commenced scheduled charter service from Miami and Tampa to Havana.

The initial service, granted under approval from the U.S Department of Transportation, operates six times weekly between Miami and Havana, and twice weekly between Tampa and Havana.

Both GlobalX and Havana Air plan for the number of flights to increase as Cuba fully opens post-pandemic.

On September 30, 2021, US DOT approved the GloablX fleet size increase to 6 aircraft, subject to FAA approval as each enters service. N279GX (below) entered revenue service on October 1, 2021. N278GX entered service at the end of October bringing the fleet to 4. Two additional A320s will enter service within 60 days growing the fleet to 6.

Airbus A320 N278GX also wears updated 2021 livery:

Top Copyright Photo: Pictured in the inaugural 2021 livery: GlobalX (Global Crossing Airlines) Airbus A320-214 N276GX (msn 2695) LAS (Nick Dean). Image: 955771.

Global Crossing Airlines (GlobalX) acquires its AOC

Global Crossing Airlines (GlobalX) received its Air Operators Certificate (AOC) on August 4, 2021.

The new airline issued this statement:

Global Crossing Airlines Group Inc. is pleased to announce that it has been granted its US FAA Aircraft Operating Certificate (AOC) authorizing it as a US 121 flag and supplemental carrier. Pending receipt of final DOT authorization, GlobalX will begin passenger operations as the newest US airline.

Flying the Airbus A320 family, the airline provides charter flights to U.S., Canadian, Caribbean and Latin American destinations from its hubs in Miami and Atlantic City.

GlobalX flies for casinos, cruise lines, major hotel and resort destinations, incentive groups and cargo and logistics companies.

GlobalX aircraft photo gallery:

GlobalX plans to take off this summer

Global Crossing Airlines (GlobalX) (Miami) is finalizing its FAA certification using the Airbus A320 family of aircraft. Subject to final FAA and DOT final approvals, GlobalX will fly as an ACMI, wet lease, and ad-hoc charter airline serving the US, Canadian, Caribbean and Latin American markets.

The new airline hopes to take off this summer once it receives its AOC.

The upstart currently has two aircraft:

In other news, ST Engineering will lease up to five Airbus A321 Passenger-to-Freighter (P2F) aircraft to Global Crossing Airlines (GlobalX).

The first A321 aircraft to be converted will be in April 2022 and will be placed on lease in the fourth quarter of 2022. The remaining four P2F aircraft will be converted and leased to GlobalX progressively.

In other news, the company previously provided an update on its Jetlines transaction:

Pending all regulatory approvals of the transaction, each shareholder of GlobalX will receive one share of Jetlines for every two shares of GlobalX on the Record Date. This transaction allows GlobalX to maximize the value of the Jetlines assets acquired in the reverse take-over, and to continue to drive value for our GlobalX and legacy Jetlines investors.

GlobalX effectively took control of the assets of upstart Jetlines.