Global Crossing Airlines Group Inc (OTCPK:JETMF)

Q1 2025 Global Crossing Airlines Group Inc Earnings Call Transcript

May 8, 2025 / 12:30 PM GMT

Release Date Price: $0.61 (+0.23%)

Transcript 10-Q

Key Points

Positve

Global Crossing Airlines Group Inc (JETMF) reported a 24% year-over-year increase in revenue for Q1 2025, reaching $66.6 million.
The ACMI business segment grew by 84% to $34.3 million, now accounting for 52% of total revenue, highlighting a successful strategic shift.
The company achieved GAAP profitability with a net income of $0.2 million, compared to a loss of $6.4 million in the previous year.
Fleet expansion is on track, with plans to increase the fleet by more than 20% in the second half of 2025, supporting future growth.
The company has improved cash flow from operations, moving from a cash usage of $2.1 million to a positive cash flow of $0.1 million.

Negative

Charter revenue declined by 10% to $30.5 million, reflecting the strategic shift towards ACMI contracts.
Total operating expenses increased to $63.5 million, driven by higher aircraft rent, maintenance, and personnel costs.
The cargo market remains challenging, with ongoing headwinds affecting performance despite a new contract with DHL.
The company operates with negative working capital, primarily due to a fully leased fleet and advance payments for flying.
There is uncertainty in the air freight market due to macroeconomic conditions, impacting the cargo business outlook.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

JET.NLB - Global Crossing Airlines Group Inc
Q1 2025 Global Crossing Airlines Group Inc Earnings Call
May 08, 2025 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning ladies and gentlemen.

Thank you for standing by. Welcome to today's conference call to discuss Global Crossing Airlines' financial results for the first quarter of 2025. At this time, all participants are in the end only mode. As a reminder, this conference is being recorded. Joining us on the call today are the company's executive Chairman.

Christian Ross, President and CFO Ryan Gopal, and SVP corporate Controller Wendy Shapiro. Please be advised this conference call will contain statements that are considered forward-looking statements under the Private Securities Litigation Reform Act of 1,995.

These forward-looking statements are subject to certain known and

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