Global Crossing Airlines Group, Inc. · NEO:JET
Global Crossing Airlines — Q3 2023 Earnings Presentation
17 slides from Global Crossing Airlines's earnings presentation, Nov 9, 2023
Slide 1: Q3 Investor Overview November 2023
Q3 Investor Overview November, 2023 NEO:JET | NEO: JET.B | OTCQB:JETMF GLOBALX IS A HIGH GROWTH AIRCRAFT OPERATOR WITH A UNIQUE AND RESILIENT BUSINESS MODEL SERVING THE CHARTER AND CARGO SECTORS Exhibit 99.2
Slide 2: Disclaimer
DISCLAIMER This presentation was prepared by Global Crossing Airlines Group Inc. (the “Company”) as a general presentation aimed solely at providing information about the Company, its operations and financial results. You should not rely upon it or use it to form the definitive basis for any decisio
Slide 3: Agenda
GLOBALX AT A GLANCE Q3 HIGHLIGHTS Q3 FINANCIAL RESULTS FLEET UPDATE 2023 OUTLOOK INVESTOR UPDATE AGENDA
Slide 4: GlobalX at a Glance
GLOBAL CROSSING AIRLINES GROUP (“GLOBALX”) AT A GLANCE GlobalX is the fastest growing North American domestic and international hybrid charter / cargo airline Serves both passenger charter (including government, sports and other passenger missions) and cargo markets Headquartered in Miami, FL (MIA)
Slide 5: Significant Momentum Underpinned by Recent Accomplishments
SIGNIFICANT MOMENTUM UNDERPINNED BY RECENT ACCOMPLISHMENTS Recruited & Retained Experienced Pilots Acquired Key Industry Certifications Expanded Capacity Expanded Aircraft Fleet 13 Aircraft Under Operating Certificate 8 Aircraft to be Delivered in Q4/Q1 24 Proven Operational Performance 25,300+ Bloc
Slide 6: Q3 Highlights
Q3 HIGHLIGHTS Closed a $35 million debt facility. Signed LOIs for two A320 passenger aircraft and one A321 passenger aircraft. Increased our pilot headcount from 60 to 120. Flew over 1,800 block hours under a wet lease for TUI, one of the largest leisure carriers in Europe. Took delivery of one A319
Slide 7: Anticipated Revenue Mix by Charter & Cargo Contracts
2 02 3 E A nt i c i p a t e d R e v e n u e M i x by C har t e r & C ar go C ont r a c t s FREQUENT FLYERS Government Airlines Brokers & Tour Concerts NCAA Collegiate Sports Cargo 40% OF ANTICIPATED REVENUE IS DERIVED FROM LONG TERM CONTRACTS AND 2/3 OF CONTRACTS ARE WITH BLUE- CHIP, REPEAT CLIENTS
Slide 8: Q3 Was Incredibly Strong
Q3 WAS INCREDIBLY STRONG 115 103 120 114 92 116 150 117 97 131 232 196 134 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Avg BLH per/AC
Slide 9: Flight Block Hours & Quarterly Revenues
FLIGHT BLOCK HOURS & QUARTERLY REVENUES
Slide 10: Q3 2023 Results: Revenue, EBITDA, EBITDAR
EBITDAR Earnings Before Interest, Taxes, Depreciation, Amortization and Rent Key metric in aviation to properly compare airlines who purchase aircraft vs lease aircraft $7.6M EBITDA Earnings Before Interest, Taxes, Depreciation, Amortization $(1.7M) Q3 2023 RESULTS $42.6M REVENUE
Slide 11: Making Progress to Economies of Scale
p11. Making progress to economies of scale Revenue growth (35%) exceeded cost growth for almost all cost categories Maintenance is tied to flight activity, still grew at a lower rate than operated hours Q3 2023 Q2 2023 Change % change Operating Revenue 42,576,899 31,475,076 11,101,823 35% Salaries,
Slide 12: Aircraft Delivery Plan
Base Plan N285GX – A320P – #9 – Delivered N411GX – A321F – #2 – Delivered Expected Plan N287GX – A319P – #10 – Delivered N412GX – A321F – #3 – Q4 N288GX – A320P – #11 – Q4 N453GX – A320P – #12 – Q4 N454GX – A321F – #4 – Q4 N436GX – A321F – #5 – Q4 AIRCRAFT DELIVERY PLAN
Slide 13: Outlook 2023
OUTLOOK 2023 Confirming 2023 revenue forecast $150+ Million with over 95% contracted 17,000 hours contracted for 2023 to date with the potential to contract up to 1,800 additional hours depending on aircraft delivery dates This compares to 10,615 total hours contracted in 2022 2023 fleet size target
Slide 14: Cap Table and Up-Listing
NEO:JET | NEO: JET.B | OTCQB:JETMF With the Axar financing there is no pressing need to raise capital The only hurdle for uplisting is the requirement to have positive shareholder equity This can be achieved through profitable operations or equity raises CAP TABLE COMMON 39,332,164 CLASS A 5,537,313
Slide 15: Slide 15
Slide 16: GlobalX Is Poised for Continued Growth
Supportive Market Dynamics Capitalize on Cargo Growth and Pent-Up Passenger Demand Contracted Revenues Major Long-term Contracts Providing Significant Revenue Visibility Fleet Growth Fleet is Expected to Reach 50 Aircraft by 2025 Ramp of Cargo Business Increased Exposure to Long-term Contracts with
Slide 17: Thanks for Your Time
THANKS FOR YOUR TIME GLOBALX IS A HIGH GROWTH AIRCRAFT OPERATOR WITH A UNIQUE AND RESILIENT BUSINESS MODEL SERVING THE CHARTER AND CARGO SECTORS Global Crossing Airlines Building 5A Miami Int'l Airport ryan.goepel@globalxair.com 786.751.8503
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