Global Crossing Secures Additional Freighter In Second Deal This Week

Global Crossing Airlines (TSXV: JET) continues to acquire airplanes, with the company making the second such announcement this week. The firm has leased a single Airbus A321 freighter from ST Engineer Aerospace Resources.

The arrangement is said to mark the first of up to a total of five freighters that could be potentially leased from the firm. It’s expected that the airplane will enter service by October 2022, following a retrofit of the freighter by ST Engineering at its facility in Texas, which is set to commence in February.

“The A321 P2F is a game changer in the narrowbody freighter market and we are moving rapidly with outstanding lessors like ST Engineering to build out our A321F fleet,” commented CEO Ed Wegel.

The arrangement follows one earlier this week, where Global Crossing secured four Airbus A321 freighters under long term leases with Greenwich Highland Aviation, the first of which is expected to enter service in July 2022.

Global Crossing last traded at $2.31 on the TSX Venture.

Information for this briefing was found via Sedar and Global Crossing Airlines. The author has no affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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