Global Crossing Airlines Group, Inc. · NEO:JET
Global Crossing Airlines — Q1 2022 Earnings Presentation
17 slides from Global Crossing Airlines's earnings presentation, May 17, 2022
Slide 1: Q1 Update May 17, 2022
Exhibit 99.2 Q1 Update May 17, 2022
Slide 2: Disclaimer
DISCLAIMER The information contained herein, while obtained from sources we believe to be reliable, is not guaranteed as to accuracy or completeness. This Presentation is for information only and does not constitute an offer to sell or a solicitation to buy the securities referred to herein. No secu
Slide 3: Agenda
Agenda • First quarter 2022 - highlights • Q1 vs Q4 quarter over quarter analysis • Q2 objectives • Major revenue contracts signed – updated forecast • Positive impact of A321F introduction by Q4 • Unit Economics p3.
Slide 4: Q1 Results Delivered Highlights
Q1 Results Delivered Highlights Q1 2022 Revenue = $16.3 million • Projecting $90+ Million in revenue for 2022 • Total contracts and LOI’s now exceed $200M • $70 Million in signed contracts or LOI’S for 2022 • $76 Million in signed contracts and LOI’S for 2023 and $52 million for 2024 • Forecasting o
Slide 5: Q1 2022 vs Q4 2021 Results
Q1 2022 Q4 2021 Inc / (Dec) % Change Operating Revenue $16,380,011 $11,168,526 $5,211,485 46.7% Operating Expenses 2022 2021 Inc / (Dec) % Change Salaries, Wages, & Benefits $5,865,074 $4,736,232 $1,128,842 23.8% Aircraft Fuel $3,250,554 2,144,388 1,106,166 51.6% Maintenance, materials and repairs $
Slide 6: $200M in Contracts and LOIs Secured YTD for 2022 and Beyond
$200M in Contracts and LOIs Secured YTD for 2022 and Beyond GlobalX Overview LOI’S – Cargo Contracts Key Contracts - PAX • Latin American Major Airline Operator • US Government Contractor • 4950 Hours in 2022 • 600 Minimum Hours in 2022 • 9360 Hours years 2023 & 2024 • 2400 Hours in both 2023 & 2024
Slide 7: GlobalX Current Status
GlobalX Current Status GlobalX Overview Fleet Team Passenger • 72 Pilots (includes 30 in training) • 5 A320 • 105 Flight attendants, including 23 in • 1 A321 training 10 Passenger • 1 A320 (May 2022) Bases • 1 A319 (June 2022) Aircraft • Miami (Operating) • 1 A321 (July 2022) • Atlantic City (Operat
Slide 8: N284GX coming out of paint
N284GX coming out of paint N284GX p8.
Slide 9: Q2 Objectives
Q2 Objectives • $19M+ in Revenue • EBITDAR* positive • Delivery of 2 aircraft (A319 and A320) • 2 additional passenger aircraft LOI’s signed to support growing government contract • Multiple cargo contracts executed • Fall football season work contracted *EBITDAR – is a non-GAAP measure which is “Ea
Slide 10: 321F Livery
321F Livery p10.
Slide 11: A321-200F Fleet Type General Advantages over Boeing
A321-200F Fleet Type General Advantages over Boeing VS B757-200PCF – 17-19% Less fuel burn than B757-200PCF 321F vs The – 95% Total volume of the 757-200PCF – 14% More containerized volume than B757-200PCF Competition VS B737-800F – 18% More volume than B737-800F – 55% More containerized volume than
Slide 12: A321 Containerized Cargo Capacity vs 737-800/757
A321 Containerized Cargo Capacity vs 737-800/757 Main Lower Container Equals AAY containers Deck Deck Volume* 3 A321 +55% +14% 14 10 7,349 ft 3 17 88‘‘x125‘‘ LD3-45W 208 m 3 757-200SF 15 6,473 ft BULK 3 15 88‘‘x125‘‘ 183 ft ONLY 11 + 0.5 BULK 3 4,747 ft 737-800SF 11 ONLY 11 x 88‘‘x125‘‘ 3 134 m 1 x
Slide 13: 321F Delivery Schedule and Future Options
Anticipated Delivery Date in MSN AGE MTOW Engine Type Conversion Type # full Cargo Config 1 1199 2000 93K KG IAE V2500 EFW Aug 19/22 2 1438 2001 89K KG IAE V2500 Precision Sept 1/22 3 1953 2003 89K KG IAE V2500 Precision Mid December 2022 4 TBD TBD TBD TBD EFW Est 1st half 2023 5 993 1999 89K KG IAE
Slide 14: MSN 1199 and MSN 1438 Cargo Conversion in progress
MSN 1199 and MSN 1438 Cargo Conversion in progress p14.
Slide 15: Improving Unit Economics Estimates
Improving Unit Economics Estimates We are projecting: $1.5-2.2M annualized gross profit before overhead per passenger aircraft $4.2-5.5M annualized gross profit before overhead per cargo aircraft Fleet Plan calls for by the end of each year: 2022: 10 Passenger / 3 Cargo 2023: 13 Passenger / 8 Cargo
Slide 16: Share Price Performance
Share Price Performance Certification 3 7 $0 Revenue 6 2.5 5 2 4 1.5 3 6 Passenger Aircraft 1 13 Cargo Aircraft on order 2 7 additional commitments $16M in Q1 Revenue 0.5 1 0 0 Adj Close Number of aircraft p16.
Slide 17: In Summary…
In Summary… Resilient and Diverse Business Model Assets Still Being Acquired at Post-Covid Prices On track for Oct 1 launch of cargo revenue service Major long term contracts provide solid revenue foundation p17.
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