Q2 2026 Global Crossing Airlines Group Inc Earnings Call Transcript
Key Points
- Generated the second highest quarterly EBITDA in company history at $6.9 million, up 17% year-over-year.
- Increased average utilization per available aircraft by 11% to 523 block hours, demonstrating improved operational efficiency.
- Charter revenue per block hour surged 36% to approximately $18,100, reflecting strong demand and favorable pricing.
- Completed a substantial portion of scheduled maintenance, with only two checks remaining in Q3, positioning for improved availability in H2.
- Fleet modernization efforts include acquiring five younger A320 aircraft, expected to reduce average fleet age by 10% and enhance reliability.
- Net loss of $1.3 million in Q2 2026, compared to net income of $0.6 million in Q2 2025.
- Aircraft availability was constrained, with only 15.3 net available aircraft versus 17.1 in the prior year, due to heavy maintenance.
- Non-revenue block hours doubled to 284, adding $1 million in operating costs.
- Cargo operations remain a drag on results, with excess capacity and lower rates pressuring utilization and earnings.
- Cash used in operating activities was $1.6 million, a significant decline from $8.8 million provided in Q2 2025.
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 second quarter of 2026. At this time, all participants are in a listen-only mode. As a reminder, this conference is being recorded. Joining us on the call today are the company's Chief Executive Chairman, Chris John Ross, President and CFO, Ryan Gopel, Senior Vice President, Corporate Controller, Wendy Shapiro, and Investor Relations Advisor, Aaron D'Souza.
Be advised for this conference call will contain statements that are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements.
These forward-looking statements are also subject to other risks and uncertainties that are described from time to time in the company's filings with the SEC.
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