Global Crossing Airlines: Q1 2025 Financial Highlights

Global Crossing Airlines Inc ( (JETMF) ) has released its Q1 earnings. Here is a breakdown of the information Global Crossing Airlines Inc presented to its investors.

Global Crossing Airlines Group, Inc., also known as GlobalX, is a US-based charter airline operating in the aviation sector, primarily offering ACMI and charter flights for passengers and cargo across the US, Caribbean, Europe, and Latin America. The company is recognized for its rapid growth and operates a fleet of Airbus A320 family aircraft.

In its first quarter of 2025 financial results, GlobalX reported a GAAP net income of $0.2 million and an EBITDAR of $20.6 million, with revenue reaching $66.6 million. The company highlighted its strategic execution and operational improvements, which contributed to a significant turnaround from the previous year’s losses.

Key financial metrics showed a 24% increase in revenue compared to Q1 2024, driven by higher block hours and fleet expansion. The company’s EBITDAR nearly doubled, and EBITDA improved by $9 million, reflecting enhanced profitability and operational efficiency. Additionally, GlobalX expanded its fleet to 19 aircraft and increased block hours by 29%.

Despite higher operating expenses due to fleet expansion and maintenance, GlobalX managed to improve its cash flow from operations, indicating effective cost management. The company also transported more collegiate teams for major events, showcasing its growing market presence.

Looking ahead, GlobalX remains focused on expanding its fleet and enhancing its charter operations, with the goal of becoming the largest narrow-body charter airline in North America. The management’s commitment to operational excellence and disciplined growth is expected to drive long-term value creation for stakeholders.