From Investing.com: 2024-05-12 18:32:21

Global Crossing Airlines reported a 67% increase in revenue to $53.8 million and a 16-fold rise in EBITDA in Q1 2024. Despite a net loss of $6.3 million, the airline plans to expand its fleet to 20 aircraft by summer and streamline operations, focusing on narrow-body charter ACMI flying. The company aims for sustained profitability but has not provided formal guidance on reaching breakeven operations.

Key takeaways include significant revenue and EBITDA growth, a net loss of $6.3 million, and a focus on narrow-body charter ACMI flying as Global Crossing Airlines streamlines operations. With plans to expand its fleet and deepen its relationship with a key government agency, the airline aims for predictable and recurring business.

Global Crossing Airlines is positioning itself for sustained profitability by focusing on core business, discontinuing non-core ventures, and expanding its fleet to 20 aircraft by summer with Department of Transportation authorization. The company reported a net loss of $6.3 million in Q1 2024 but remains optimistic about its future prospects.



Read more at Investing.com: Global Crossing Airlines reports strong revenue growth By Investing.com