Fleet Financing

Global Crossing Airlines announces lease of A321 cargo plane


MIAMI, October 7, 2021 (GLOBE NEWSWIRE) – Global Crossing Airlines Group, Inc. (JET: TSX-V; JET.B: TSX-V; JETMF: OTCQB) (the “Society” Where “GlobalX“) announces the signing of a definitive agreement with ST Engineering Aerospace Resources (” STE Aerospace Resources “), the aircraft leasing arm of ST Engineering for the leasing of an Airbus A321 P2F cargo. aircraft of up to five (5) A321 freighters which GlobalX will eventually lease from STE Aerospace Resources (the “Aircraft”). The first aircraft will be converted at ST Engineering’s facility in San Antonio, Texas, starting in February 2022 and is expected to enter commercial service by October 2022.

“We are honored to work with ST Engineering, one of the world’s largest aircraft maintenance providers, and very pleased that this aircraft is being converted at their US facility. The A321 P2F is a game-changer in the narrow-body cargo market and we are moving rapidly with exceptional lessors like ST Engineering to grow our A321F fleet, ”said Ed Wegel, President and CEO of GlobalX.

About Global Crossing Airlines

GlobalX is a US 121 national carrier and an additional airline using Airbus A320 family aircraft. GlobalX flies as an ACMI charter and crewed charter airline serving the United States, Caribbean and Latin American markets. For more information, please visit www.globalxair.com.

About ST Engineering

ST Engineering is a global technology, defense and engineering group with offices in Asia, Europe, the Middle East and the United States, serving customers in over 100 countries. The Group uses technology and innovation to solve real-world problems and improve lives through its diverse portfolio of activities in the aerospace, smart cities, defense and public safety segments.

For more information please contact:

Mark Salvador, Director of Marketing
E-mail: [email protected]
Phone : 786.751.8510

Or

Tracie Gunion, Investor Relations
E-mail: [email protected]
Phone : 786.793.5424

Caution regarding forward-looking information

This press release contains “forward-looking information” regarding anticipated developments and events that may occur in the future. Forward-looking information contained in this press release includes, but is not limited to, statements regarding the company’s intention to fly as an ACMI chartered and crewed airline, the size of the aircraft fleet of the company, including the number of aircraft that Global intends to lease from ST, the conversion and commissioning times, and the destinations the Company intends to serve.

In some cases, forward-looking information may be identified by the use of words such as “plans”, “expects”, “budget”, “planned”, “estimates”, “forecasts”, “intentions”, ” anticipates “or” or variations of such words and phrases or statements that certain actions, events or results “might”, “might”, “would”, “might” or “would”, “would occur” or “would” suggest future results, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements regarding future events or performance. The forward-looking information contained in this press release is based on certain factors and assumptions regarding, among other things, obtaining financing to continue airline operations, entering into agreements for the four additional ST aircraft, accuracy, the reliability and success of GlobalX’s business model; timely receipt of government approvals; the success of GlobalX’s flight operations; the legislative and regulatory environments of the jurisdictions in which GlobalX will operate or operate; the impact of competition and the competitive response to GlobalX’s business strategy; and the availability of aircraft. Although the Company considers these assumptions to be reasonable on the basis of the information currently available to it, they may prove to be inaccurate.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to differ materially from future results, performance or achievements expressed or implied by the companies. forward-looking information. These factors include the risks related to the ability to obtain financing on acceptable terms, the inability to conclude definitive agreements for the four additional ST aircraft, the impact of general economic conditions, the conditions of the airline industry. domestic and international, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increased operating costs, terrorism, pandemics, natural disasters, currency fluctuations, rate of ” interest, risks specific to the airline industry, ability of management to implement GlobalX’s operational strategy, ability to attract qualified executives and personnel, labor disputes, regulatory risks, including risks associated with acquiring the necessary licenses and permits; and additional risks identified in the “Risk Factors” section of reports and documents filed by the Company with applicable Canadian securities regulatory authorities. Although the Company has attempted to identify important factors which could cause actual results to differ materially from those described in forward-looking information, other factors may cause results not to be as anticipated, estimated or planned. Therefore, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this press release. Except as required by applicable securities laws, the Company assumes no obligation to publicly update any forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepted responsibility for the adequacy or accuracy of this release.


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