Global Crossing Airlines Group, Inc. · NEO:JET
Global Crossing Airlines — Q2 2023 Earnings Presentation
13 slides from Global Crossing Airlines's earnings presentation, Aug 11, 2023
Slide 1: Q2 Investor Update
Exhibit 99.2 Q2 Investor Update th August 9 , 2023 NEO:JET | NEO: JET.B | OTCQB:JETMF
Slide 2: Agenda
AGENDA 1. AXAR FINANCING 2. Q2 COMMENTARY 3. Q2 2023 FINANCIAL RESULTS 4. 2023 OUTLOOK 5. FLEET UPDATE 6. CARGO 7. INVESTOR UPDATE
Slide 3: Axar Financing
ALL $USD AXAR FINANCING • Company needed capital to achieve its goals • Did not want to sell equity at current valuations and take a large amount of dilution • Wanted to find a partner which understands the business and was willing to provide the capital needed to grow • Current market conditions fo
Slide 4: Q2 Highlights
Q2 HIGHLIGHTS • Signed LOIs for 2 A320 passenger aircraft and 2 A321 freighters • Recruited hired and trained 35 pilots, with an additional 22 in training which started in the quarter and 36 flight attendants • Received our United Kingdom (UK) TCO • Flew 250 block hours under a wet lease to Wizz, on
Slide 5: GlobalX Arrivals
GLOBALX ARRIVALS | COUNTRIES | CITIES INTERNATIONAL FLIGHTS FLOWN SINCE AUGUST 1, 2022 ARRIVALS 2500 COUNTRIES 51 CITIES 116
Slide 6: Q2 2023 Results
Q2 2023 RESULTS EBITDAR Revenue of $31.5M Earnings Before Interest, Taxes, Actual EBITDA of ($6.3M) Depreciation, Amortization and Rent Adjusted EBITDA of ($1.5M)* Key metric in aviation to properly compare Actual EBITDAR of $498k* airlines who purchase aircraft vs lease aircraft Adjusted EBITDAR of
Slide 7: Q2 2023 Results – Improving Margins
Q2 2023 RESULTS – Improving Margins Three Three Three Months Ended Months Months Six Months Six Months June 30, Ended Ended Ended Ended Operating Fleet 2023 2022 Inc/(Dec) June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 A320 8.0 5.3 2.7 Operating Revenue $ 31,475,076 $ 17,441,980 $ 63,625,63
Slide 8: Q3 Has Started Strong
Q3 HAS STARTED STRONG Total BLH per/Month Avg BLH per/AC 231 2,538 150 131 1,439 120 118 1,353 116 117 115 114 105 103 1,174 97 92 1,045 973 911 823 839 802 734 736 719 Pilot Pool Net AC Days per/Month 38 50 37 39 37 35 36 327 20 13 13 30 30 20 275 242 242 243 231 77 218 220 72 204 197 198 68 193 65
Slide 9: Outlook 2023
OUTLOOK 2023 • Increasing 2023 revenue forecast $150+ Million with over 75% contracted • Over $50m in identified targets/outstanding quotes for August - December • 13,629 hours contracted for 2023 to date with the potential to contract up to 7,000 additional hours depending on aircraft delivery date
Slide 10: N285GX Ready to Be Delivered
N285GX READY TO BE DELIVERED
Slide 11: Aircraft Delivery Plan
AIRCRAFT DELIVERY PLAN Base Plan 1. N837VA - A320P - #9 – Delivered 2. N411GX - A321F - #2 – Delivered Current Plan 1. N285GX - A319P - #10 – August 2. N412GX - A321F - #3 – late Q3 3. N288GX – A320P - #11 – Q4 4. N453GX – A321F - #4 – Q4 5. N454GX – A321F - #5 – Q4 6. N436GX – A321F - #6 – Q4 7. N2
Slide 12: Cargo
CARGO • Two freighters are operating today and are fully sold We are developing distinct business lines for the A321 Freighter: # of Aircraft US Government – 2 Miami - Caribbean – 1 Miami – Central America – 1 Ascent Automotive/Manufacturing – 1 Latin America - Colombia AOC – 1 Spare/additional capa
Slide 13: Uplisting Cap Table
UPLISTING CAP TABLE COMMON 38,875,739 NEO:JET | NEO: JET.B | OTCQB:JETMF CLASS A 5,537,313 • With the Axar financing there is no pressing CLASS B 13,046,309 need to raise capital • We have the option to of determine when the Apr 28, 2021 7,537,313 1.50 29-Apr-26 best time to uplist based on market c
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