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Global Crossing Airlines (TSE:JET)
NEO-L:JET
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Global Crossing Airlines
(NEO-L:JET)
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Rating:46Neutral
Price Target:
C$1.50
▲(10.29% Upside)
The overall stock score of 46 reflects significant financial challenges, particularly high leverage and negative profitability, which are major concerns. Technical analysis shows no momentum and poor valuation metrics further weigh down the score. However, the earnings call provides some optimism with revenue growth and improved operational performance, slightly offsetting the negative aspects.
Positive Factors
Revenue Growth
The consistent revenue growth indicates expanding market reach and successful execution of business strategies, enhancing long-term prospects.
ACMI Business Expansion
The strong growth in ACMI revenue shows a robust demand for their services, positioning the company well in a lucrative market segment.
Operational Efficiency
Increased block hours flown reflect operational efficiency and strong market demand, supporting sustained business growth.
Negative Factors
High Leverage
High leverage poses financial risks, potentially limiting the company's ability to invest in growth and manage economic downturns.
Decline in Charter Revenue
The decline in charter revenue indicates challenges in this segment, which could impact overall revenue diversification and stability.
Increased Operating Expenses
Rising operating expenses, driven by fleet expansion, may pressure margins and affect profitability if not managed effectively.
Global Crossing Airlines (JET) vs. iShares MSCI Canada ETF (EWC)
Market Cap
$69.11M
Dividend YieldN/A
Average Volume (3M)10.01K
Price to Earnings (P/E)―
Beta (1Y)N/A
Revenue Growth16.18%
EPS Growth87.47%
CountryCA
Employees678
SectorIndustrials
Sector Strength72
IndustryAirlines, Airports & Air Services
Share Statistics
EPS (TTM)-0.04
Shares Outstanding50,163,350
10 Day Avg. Volume10,010
30 Day Avg. Volume10,010
Financial Highlights & Ratios
PEG Ratio0.05
Price to Book (P/B)-0.92
Price to Sales (P/S)0.12
P/FCF Ratio31.96
Enterprise Value/Market Cap0.00
Enterprise Value/Revenue0.00
Enterprise Value/Gross Profit0.00
Enterprise Value/Ebitda0.00
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.11
Revenue Forecast (FY)$350.81M
Global Crossing Airlines Business Overview & Revenue Model
Company DescriptionGlobal Crossing Airlines (JET) is a U.S.-based airline company focused on providing charter and scheduled air transportation services, primarily targeting the leisure and tourism markets. The company operates a fleet of modern aircraft and offers services that include passenger travel, cargo transport, and charter operations. With a strong emphasis on customer service and operational efficiency, Global Crossing Airlines aims to connect travelers to popular vacation destinations in the Caribbean and beyond, catering to both individual passengers and travel groups.
How the Company Makes MoneyGlobal Crossing Airlines generates revenue through multiple streams, primarily from ticket sales for passenger flights and charter services. The company offers a variety of fare options, catering to different customer segments, including leisure travelers and business clients. Additionally, revenue is derived from cargo services, which utilize excess capacity on passenger flights to transport goods. Strategic partnerships with travel agencies, tour operators, and online booking platforms enhance distribution and visibility, driving additional ticket sales. Furthermore, ancillary services, such as baggage fees and onboard sales, contribute to the overall revenue, allowing the company to maximize earnings per passenger.
Global Crossing Airlines Earnings Call Summary
Earnings Call Date:Aug 13, 2025
(Q2-2025)
| Next Earnings Date:Mar 05, 2026
Earnings Call Sentiment Positive
The earnings call highlighted significant revenue growth and improved profitability, with strong performance in the ACMI business and record block hours flown, indicating a positive operational outlook. However, challenges such as a decline in charter revenue, a soft freight market, and increased operating expenses were noted. Overall, the highlights slightly outweigh the lowlights, indicating a cautiously optimistic sentiment.Q2-2025 Updates
Positive Updates
Revenue Growth and Improved Profitability
Revenue increased 7% year-over-year to $61.4 million, driven by higher block hours flown, aircraft fleet expansion, and increased ACMI business. Net income improved to $0.6 million compared to $0.3 million.
Strong Performance in ACMI Business
ACMI revenue increased 40% year-over-year to $44.5 million, now accounting for 73% of total revenue compared to 55% in the prior year quarter.
Record Block Hours Flown
The company flew a record 8,065 block hours, a 13% increase over the prior year's quarter, highlighting strong market demand and operational efficiency.
Positive Cash Flow and Liquidity
Cash flow provided by operating activities increased to $8.8 million from $0.9 million. Ended the quarter with $14.1 million in cash and restricted cash.
Strategic Fleet Expansion
Expanded fleet with acquisition of Airbus A320 and lease agreements for 4 Airbus A319 aircraft, enhancing operational capacity by over 20%.
Negative Updates
Decline in Charter Revenue
Charter revenue decreased to $15.3 million from $24.6 million in the same quarter last year, now representing 25% of total revenue compared to 43% in the prior year quarter.
Soft Freight Market
Continued soft demand in the cargo operations sector, consistent with broader industry trends, affecting the performance of the cargo fleet.
Increased Operating Expenses
Total operating expenses rose to $58.1 million from $55 million, driven by higher maintenance and personnel costs associated with fleet expansion.
Company Guidance
During the second quarter of 2025, Global Crossing Airlines reported strong financial performance with a 7% year-over-year revenue increase to $61.4 million. This growth was driven by a record 8,065 block hours flown and an expansion in the aircraft fleet, enhancing their capacity to meet rising demand. The company achieved a significant 40% increase in ACMI revenue, which now comprises 73% of total revenue, compared to 55% in the same period the previous year. They also improved their cash flow from operating activities to $8.8 million, up from $0.9 million, and net income increased to $0.6 million. The introduction of a hybrid ownership model through the acquisition and leasing of aircraft is expected to support future growth. Additionally, Global Crossing successfully launched a trial ACMI contract with DHL, which has been extended, reflecting confidence in their services. The company aims to continue its focus on operational excellence and disciplined growth, setting the stage for scaling up in 2026.Global Crossing Airlines Financial Statement Overview
Summary
Global Crossing Airlines shows revenue growth and improved gross margins, but profitability remains elusive with negative net margins. The balance sheet is heavily leveraged with negative equity, posing financial risks. Cash flow management shows some strengths, particularly in operating cash flow improvements. The company faces significant challenges in achieving financial stability and profitability, with high leverage being a critical concern.Income Statement
The income statement shows modest revenue growth with a TTM (Trailing-Twelve-Months) increase of 2.32%. However, profitability remains a concern with a negative net profit margin of -1.92% and a low EBIT margin of 2.51%. The gross profit margin improved to 18.09%, indicating better cost management. Overall, while there is revenue growth, profitability metrics suggest challenges in achieving sustainable profits.45
Neutral
Balance Sheet
The balance sheet reveals significant financial leverage with a negative debt-to-equity ratio of -5.26, indicating high debt levels relative to negative equity. The return on equity is positive at 16.02%, but this is due to negative equity, which is a risk factor. The equity ratio is negative, reflecting a weak capital structure. Overall, the balance sheet highlights financial instability and high leverage.30
Negative
Cash Flow
Cash flow analysis shows a decline in free cash flow growth by -17.45% TTM, but operating cash flow improved significantly. The operating cash flow to net income ratio is 0.26, indicating some cash generation capability despite net losses. The free cash flow to net income ratio is 0.50, showing that cash flow management is relatively better than income statement results suggest. Overall, cash flow is a mixed picture with some positive trends in operating cash flow.50
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 245.94M | 223.75M | 160.12M | 97.11M | 14.29M | 0.00 |
| Gross Profit | 75.39M | 35.38M | 11.55M | 7.24M | -6.99M | -253.00K |
| EBITDA | 31.12M | 18.14M | -5.40M | -8.79M | -18.78M | -2.74M |
| Net Income | -1.67M | -11.47M | -21.01M | -15.82M | -25.06M | -2.60M |
Balance Sheet | ||||||
| Total Assets | 170.75M | 166.74M | 131.33M | 51.16M | 39.07M | 7.17M |
| Cash, Cash Equivalents and Short-Term Investments | 7.05M | 12.35M | 11.60M | 1.88M | 5.24M | 526.17K |
| Total Debt | 14.33M | 149.95M | 111.87M | 39.15M | 25.01M | 4.12M |
| Total Liabilities | 198.99M | 196.21M | 151.20M | 58.42M | 34.83M | 6.87M |
| Stockholders Equity | -28.24M | -29.55M | -20.09M | -7.26M | 4.25M | 302.38K |
Cash Flow | ||||||
| Free Cash Flow | 7.61M | 853.00K | -5.42M | -8.76M | -8.73M | -1.39M |
| Operating Cash Flow | 19.87M | 8.07M | -1.38M | -6.85M | -8.08M | -1.39M |
| Investing Cash Flow | -15.34M | -9.99M | -13.19M | -1.91M | -3.34M | -680.36K |
| Financing Cash Flow | -5.13M | -1.71M | 26.78M | 6.23M | 18.86M | 2.62M |
Global Crossing Airlines Risk Analysis
Global Crossing Airlines disclosed 10 risk factors in its most recent earnings report. Global Crossing Airlines reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Global Crossing Airlines Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | C$4.20B | 28.91 | 9.88% | 3.22% | 15.47% | 9.40% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
61 Neutral | $22.27B | 37.90 | ― | ― | 6.60% | -1.71% | |
61 Neutral | $5.65B | ― | -10.66% | ― | -0.09% | -109.21% | |
59 Neutral | C$596.93M | -17.93 | 2.09% | 0.36% | -12.42% | 69.23% | |
47 Neutral | C$59.19M | -2.34 | -23.32% | 5.71% | 0.46% | -1160.80% | |
46 Neutral | $69.11M | ― | ― | ― | 16.18% | 87.47% |
* Industrials Sector Average
TSE:JET
Global Crossing Airlines
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.