Global Crossing completes acquisition of Airbus A320

Executive Summary

• Global Crossing Airlines Group Inc. (GlobalX) has completed its first aircraft acquisition, purchasing an Airbus A320, and signed definitive lease agreements for four additional Airbus A319 aircraft.
• The acquisition marks a strategic transition from an exclusively leased fleet to a hybrid ownership model, aimed at managing long-term operating costs and building tangible asset value.
• The four leased A319 aircraft represent a fleet expansion of more than 20%, with deliveries scheduled sequentially from August to November 2025, bringing the total operational fleet to 22 Airbus A320 family aircraft.

Key Details

• Aircraft Acquisition:
  • Acquired an Airbus A320 (MSN 3101), currently operating as N630VA.
  • Powered by two CFM56-5B engines.
  • Purchased from Falcon 2019-1 Aerospace Ltd. by an affiliate of GlobalX.
  • Financing provided by Volofin Capital Management Ltd. of London.
• Lease Agreements:
  • Signed definitive lease agreements for four Airbus A319 aircraft (MSNs 2477, 2481, 2492, and 2503).
  • Lessors are funds managed by AE Industrial Partners LP.
  • Fleet expansion represents a >20% increase to the current fleet.
• Delivery Schedule:
  • First A319: Expected delivery on Aug. 31, 2025; entry into service approx. 30 days later.
  • Remaining A319s: Sequential deliveries planned for Sept. 30, Oct. 31, and Nov. 30, 2025.
• Operational Impact:
  • Pending FAA and DOT approvals, GlobalX will operate a fleet of 22 Airbus A320 family aircraft upon completion of deliveries.
  • Strategy focuses on strengthening the balance sheet, improving key financial metrics, and supporting rapid scale in passenger operations.

Notable Quotes

• "This acquisition marks a major milestone for GlobalX as we transition from an exclusively leased fleet to a hybrid ownership model. Owning select aircraft enhances our ability to manage long-term operating costs, plan maintenance and modifications more efficiently, and most importantly -- build tangible asset value. These moves are part of our broader strategy to strengthen the balance sheet, improve key financial metrics and position the company for long-term success." — Ryan Goepel, President and CFO
• "These new aircraft are arriving at exactly the right time. They represent more than a 20-per-cent increase to our current fleet and are critical to meeting the growing needs of our customers and supporting our rapid scale in passenger operations." — Ryan Goepel, President and CFO