Global Crossing Secures Four Aircraft Under Long Term Leases

Business looks set to take-off for Global Crossing Airlines (TSXV: JET), whom this morning secured additional aircraft for its operations. The firm indicated it has entered arrangements to secure long term leases for at least four passenger to freight aircrafts.

The arrangement comes from Greenwich Highland Aviation, whom will be leasing Global Crossing four Airbus A321’s, with the option to lease additional units also being available. The first unit is set to begin conversion in January, with service expected to begin by July 2022, while the second aircraft is expected to be in operation under Global Crossing’s banner by the end of next year.

The final two aircraft from the initial lease arrangement meanwhile are not expected to enter service until some time in 2023. Additional units are expected to be leased as the firm continues to grow.

Details for the length of the leases, or the cost of such arrangements, were not provided by the company. Greenwich will also be the firm conducting the conversions of the aircraft for the narrow body freighter market for Global Crossing.

Global Crossing last traded at $2.33 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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