Global Crossing Secures Two More Aircraft For Its Fleet

Global Crossing Airlines (TSXV: JET) is set to add two more planes to its fleet. The company this morning indicated it has secured two passenger to freight aircraft, which will join its fleet next year.

The additions come via Petrus Aerovista A321 Holdings, which is effectively a joint venture between Aerovista FZE and that of Petrus Aviation. The arrangement will see Global Crossing lease two Airbus A321’s from the venture, which will be converted with 321 precision conversions.

The first plane is slated to begin its conversion in the first quarter of 2023, with delivery currently expected to occur in August of the same year. The second plane will then begin conversion in the second quarter of 2023, with the plane currently anticipated to enter service in November.

The leasing of the two planes follows the announcement by the firm in January that it intends to expand its operations into South America. A strategic advisor has been engaged to first focus on expansions of service within Colombia and Ecuador, while developing alliances with key partners in the larger region.

Global Crossing Airlines last traded at $1.35 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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