Miami, Florida--(Newsfile Corp. - September 14, 2020) - Global Crossing Airlines Inc. (TSXV: JET) (OTC Pink: JETMF) (the "Company" or "GlobalX") has signed a Joint Venture Agreement (the "JV") with Global Aviation Services, Inc. of Toronto, Ontario, Canada ("GAS"), a leading supplier of aircraft ground and passenger handling capabilities with over 45 airline clients and operating at airports in both Canada and the United States.
The JV will launch GlobalX Ground Team™, which will initially provide all of the ground and passenger handling requirements for GlobalX Airlines at airports in the US (including Miami, Ft. Lauderdale and Atlantic City), and internationally (including Toronto, Montreal and Nassau, Bahamas) and will provide expansion to other airports as GlobalX prepares for its launch as a Airbus A320 charter airline. Each of GlobalX and GAS will hold a 50% interest in the JV. No shares of GlobalX are being issued in connection with this transaction.
Ed Wegel, Chairman of GlobalX, stated, "We are very pleased to be working with GAS to create this JV. It will allow us to establish Ground Team™ to not only handle GlobalX requirements but eventually other airlines as well."
Added Juan Nunez, VP-Operations for GlobalX, "This JV with GAS will allow us to better control and fully integrate the handling of our aircraft, above and below wing, to ensure the highest standards for passenger and ramp handling are met and exceeded, and increase our efficiency and reduce our costs."
Carm Borg, Founder and Chairman of the Board of GAS, said, "We are very excited about this new partnership for ground handling with GlobalX and we are excited to welcome them to our growing list of airlines and to our Global Family. The potential for GAS to expand our footprint with GlobalX is great, and we look forward to contributing to the success of this new venture."
Colin Saunders, Chief Executive Officer of GAS added, "We are thrilled about this new venture with GlobalX. We are positioned well to provide great service for GlobalX passengers and we are eager to get started! We look forward to showcasing our "ABOVE and BEYOND" values with our new airline partners."
About GlobalX Ground Team™
GlobalX Ground Team is a joint venture company to be established, owned and managed by Global Crossing Airlines, Inc. (Miami, FL, USA) and Global Aviation Services, Inc. (Toronto, Ontario, Canada) to provide ground handling services for GlobalX aircraft at airports in the US, Canada, and the Caribbean, and to offer ground and other handling services to other airlines at those airports.
Ground Team - GlobalX Airlines Group
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About Global Crossing Airlines
GlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets.
About Global Aviation Services, Inc.
In business since 2009, Global Aviation Services, Inc. and Global Aviation Services USA, Inc. has been providing quality services for both Domestic and International Airline partners throughout Canada and the United States. Baggage handling, passenger services, aircraft interior and exterior cleaning, and Airport Customer Assistance are some of the services GAS provides to its 45 Airline Customers from around the world.
For more information please visit https://www.globalairlinesgroup.com/
For more information, please contact:
Ryan Goepel
EVP and Chief Financial Officer
Email: Ryan.goepel@globalairlinesgroup.com
Tel: 305-869-4780
or
Jeff Walker
Vice President
The Howard Group Inc.
Email: jeff@howardgroupinc.com
Tel: 403.221-0915
Toll Free: 1-888-221-0915
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward-looking information contained in this news release includes, but is not limited to, statements with respect to the Company's intention to fly as an ACMI and wet lease charter airline, the destinations of its intended charter flights and airport expansion, and the details of the JV including its business, standards, efficiency and costs.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the receipt of financing to commence airline operations, the accuracy, reliability and success of GlobalX's business model; the timely receipt of governmental approvals; the timely commencement of operations by GlobalX and the success of such operations; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the impact of competition and the competitive response to GlobalX's business strategy; and the availability of aircraft. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement GlobalX's operational strategy, the ability to attract qualified management and staff, labour disputes, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any 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 accepts responsibility for the adequacy or accuracy of this release.
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