Global Crossing Airlines Inc ( (JETMF) ) has released its Q4 earnings. Here is a breakdown of the information Global Crossing Airlines Inc presented to its investors.
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Global Crossing Airlines Group, Inc., known as GlobalX, is a rapidly expanding charter airline operating in the US, Caribbean, Europe, and Latin America, specializing in ACMI and charter flights for both passengers and cargo using the Airbus A320 family of aircraft.
In its latest earnings report, GlobalX announced a record fourth-quarter revenue of $59.9 million, marking an 11% increase from the previous year, and a full-year revenue of $223.8 million for 2024, up 40% from 2023. The company highlighted its strategic shift towards ACMI services as a significant contributor to its financial performance.
Key financial metrics showed substantial improvements, with EBITDAR nearly tripling to $62.8 million for the year and EBITDA turning positive at $5.1 million. The company also expanded its fleet and secured several high-margin contracts, including a VIP charter for a North American tour and a cargo agreement with DHL.
Looking ahead, GlobalX management remains optimistic, focusing on fleet expansion, operational efficiencies, and securing high-margin contracts. With a fully booked summer schedule and strong demand from Europe, the company is poised for continued financial growth in 2025.