Global Crossing Airlines Group, Inc. · NEO:JET
Global Crossing Airlines — Q1 2023 Earnings Presentation
18 slides from Global Crossing Airlines's earnings presentation, May 11, 2023
Slide 1: 2023 Q1 Management Team Update
GLOBALX 2023 Q1 MANAGEMENT TEAM UPDATE May 10th, 2023 NEO:JET | NEO: JET.B | OTCQB:JETMF
Slide 2: Agenda
GLOBALX AGENDA 1. Q1 COMMENTARY 2. Q1 2023 FINANCIAL RESULTS 3. 2023 OUTLOOK 4. FLEET UPDATE 5. PASSENGER SALES 6. CARGO 7. PILOT RECRUITMENT 8. CAPITAL MARKETS
Slide 3: Our Approach to This Business
GLOBALX OUR APPROACH TO THIS BUSINESS We take a long term view of this business We seek to build a durable, sustainable and long term profitable US Charter Airline We continually re-invest in the business Add aircraft (PAX & CARGO) Hire and train pilots Use information technology to its full capabil
Slide 4: Q1 Is a Reflection of Our Approach
GLOBALX Q1 IS A REFLECTION OF OUR APPROACH CARGO – Certification, and entry into revenue stream CUBA – Strong foundation flying for 3 largest tour operators PILOTS – Investment in pay and benefits to reduce attrition along with intense focus on recruitment and training INFRASTRUCTURE – dispatchers,
Slide 5: Commentary
GLOBALX COMMENTARY ALL $USD Q1 is traditionally the slowest quarters in commercial aviation Significant scheduled maintenance during Q1 required reducing the effective fleet by 2 aircraft units every month during the quarter much reduced scheduled Maintenance in the second half of 2 Accelerated hiri
Slide 6: Delivering Against Key Metrics
GLOBALX DELIVERING AGAINST KEY METRICS Total BLH per/Month Avg BLH per/AC Pilot Pool Net AC Days per/Month
Slide 7: Q1 2023 Results
GLOBALX Q1 2023 RESULTS $32.2M Revenue $2.5M** EBITDAR Earnings Before Interest, Taxes, Depreciation, Amortization and Rent Key metric in aviation to properly compare airlines who purchase aircraft vs lease aircraft $(2.9M)** EBITDA Earnings Before Interest, Taxes, Depreciation, Amortization ** Adju
Slide 8: Outlook 2023
GLOBALX OUTLOOK 2023 Maintain 2023 revenue forecast base case $140+ Million & positive EBITDA (74% under contract) 12,827 hours contracted for 2023 to date with the potential to contract up to 10,000 additional hours depending on aircraft delivery dates This compares to 10,615 total hours contracted
Slide 9: Summer Operations North America (scheduled flights)
GLOBALX Summer Operations North America (scheduled flights)
Slide 10: Summer Operations Europe (scheduled flights)
GLOBALX Summer Operations EUROPE (scheduled flights)
Slide 11: 2023 Aircraft Added to the Fleet
GLOBALX 2023 AIRCRAFT ADDED TO THE FLEET N837 VA A320 N410GX A321F
Slide 12: Fleet Evolution by Aircraft
GLOBALX FLEET EVOLUTION BY AIRCRAFT Deliveries are driven by: Capital Pilots Ability to get aircraft out of heavy maintenance pre delivery 2022E Operating Fleet Composition 2023E Operating Fleet Composition 2024E Operating Fleet Composition 100% Passenger 66% Passenger 33% Cargo 60% Passenger 40% Ca
Slide 13: Aircraft Delivery Plan
GLOBALX AIRCRAFT DELIVERY PLAN Base Plan 1. N285GX - A320P - #9 – Delivered 2. N411GX - A321F - #2 – May 28 Target Plan 1. N287GX - A319P - #10 – Q2 2. N412GX - A321F - #3 – Q2 3. N288GX – A320P - #11 – Q2 4. N453GX – A321F - #4 – Q3 5. N454GX – A321F - #5 – Q4 6. N436GX – A321F - #6 – Q4
Slide 14: Passenger Sales
GLOBALX PASSENGER SALES Revenue Streams Signed several key contracts: Two major tour operators: $3.0M per month 600+ ACMI hours with Lynx Air ($2.4M+) 240 hours per month with Red Way Air (Lincoln, NE) 150 hours per month for 4 months with Caribbean Airline (which could be extended) 2,000 ACMI hours
Slide 15: Cargo
GLOBALX CARGO Operated 21 days in Q1 Q2 – Second aircraft to start operations on June 1 First A321F – 100% dispatch reliability Operating costs and fuel burn less than forecast Lower belly loading system installed Big differentiator versus competition (737-800 and 757)
Slide 16: Pilot Recruitment
GLOBALX PILOT RECRUITMENT Grew pilot head count by 41% in Q1 Increased Pilot head count by another 30% in Q2 Utilizing major agreements have been implement increase pool of available pilots OSM Aviation Academy o CAE Pilot Program L3 Harris Pilot Pathway Program GlobalX Colombia – intended to attrac
Slide 17: Investor Relations
GLOBALX INVESTOR RELATIONS NEO:JET | NEO: JET.B | OTCQB:JETMF Warrants Expired on April 26, 2023 4.6M SEVERAL INITIATIVES CONTINUING Digital program has increased mailing list by 14,000 names Attended two major microcap conferences Planet Micro Cap – Las Vegas o Sequire – Puerto Rico Registered to p
Slide 18: Great Place To Work Certified
GLOBALX Great Place To Work Certified MAY 2023-MAY 2024 USA NEO:JET | NEO: JET.B | OTCQB:JETMF
Global Crossing Airlines Group — Q1 2023 Earnings Presentation on 6ix