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Global Crossing Airlines Estimates Delivery of First Cargo Aircraft in June 2021
Miami, Florida--(Newsfile Corp. - November 25, 2020) - Global Crossing Airlines Inc. (TSXV: J...
About this update from Global Crossing Airlines Group, Inc.
[{"type":"text","content":"Global Crossing Airlines Estimates Delivery of First Cargo Aircraft in June 2021Miami, Florida--(Newsfile Corp. - November 25, 2020) - Global Crossing Airlines Inc. (TSXV: JET) (OTC Pink: JETMF) (the \"Company\" or \"GlobalX\") is pleased to announce that it estimates the delivery of its first A321F, as part of the Vallair LOI announced October 20, 2020, will be June 2021. In addition to this delivery, GlobalX is close to finalizing the leases for its first two previously announced passenger aircrafts expected to be delivered in December 2020 and January 2021. To help fund the deposits on these two planes, GlobalX has completed another draw down (the \"Draw Down\") under the GEM Facility in accordance with the GEM Agreement as previously disclosed. (See the news release dated May 6, 2020 for further information with respect to the GEM Agreement.)Pursuant to the Draw Down, on November 24, 2020 GEM Global Yield LLC SCS was issued 138,000 common voting and variable voting shares (\"Shares\") of GlobalX at a price of $0.8442 per Share (the \"Share Price\") for gross proceeds of $116,499.60 and will be reflected as restricted cash on the balance sheet. Ryan Goepel, EVP and CFO of GlobalX, stated, \"we are happy to continue to work with GEM as they continue to support our progress. The true benefit of working with our GEM facility is that it allows us to draw the amounts needed at the right time to fund our certification and aircraft acquisitions.\"GlobalX is also pleased to announce that Management will host its monthly update through a Zoom webinar on Tuesday, December 1 at 2:30 PM EST. Interested parties are encouraged to register below.When: December 1, 2020 - 02:30 PM Eastern TimeTopic: Global Crossing Airlines Management UpdateRegister in advance for this webinar: https://us02web.zoom.us/webinar/register/WN_hqaLG4kpTpetchFFynZEXA After registering, you will receive a confirmation email containing information about joining the webinar.About Global Crossing AirlinesGlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets.For more information please visit https://www.globalairlinesgroup.com/ For more information, please contact:Ryan GoepelEVP a...