Global Crossing Airlines Announces Lease of Two A321 Passenger-to-Freighter Aircraft

Miami, Florida, UNITED STATES

MIAMI, March 08, 2022 (GLOBE NEWSWIRE) -- Global Crossing Airlines Group, Inc. (JET: TSX-V; JET.B: TSX-V; JETMF: OTCQB) (the “Company” or “GlobalX”) announces the signing of an order for the long-term lease of two Airbus A321 Passenger-to-Freighter (P2F) aircraft from Petrus Aerovista A321 Holdings LLC, a joint venture between Aerovista FZE (“Aerovista”) and Petrus Aviation LLC (“Petrus”). The signing was held at the ISTAT Americas Conference in San Diego, which brings together the world’s top aircraft lessors, airlines and commercial aviation firms.

Aerovista arranged the acquisition of the two Airbus A321 passenger aircraft, and both aircraft will be converted with 321 Precision Conversions. The first aircraft (MSN 1451) will commence conversion in Q1 2023 and expected to enter service with GlobalX in August 2023. The second aircraft (MSN 1503) will commence conversion in Q2 2023 and expected to be placed into service by GlobalX in November 2023.

“We are delighted to be working with Aerovista on these two A321 freighters. Aerovista is a well-established lessor who understands the needs and requirements of an airline like GlobalX, and we look forward to taking delivery of these freighters and hopefully additional aircraft from them,” said Ed Wegel, Chair and CEO of GlobalX.

“It is a pleasure for us to support the growth ambitions of GlobalX. The Airbus A321 freighters are some of the most efficient single-aisle freighters on the market and we are excited to see the success these aircraft will bring to expand GlobalX’ operations. We look forward to a successful partnership with the team,” said Apandi Lakhiyalov, Chairman and Managing Director of Aerovista.

About Aerovista and Petrus Aviation

Aerovista is a lessor based out of Dubai, UAE, which has long specialized in narrow-body aircraft, particularly focusing on the A320 family. Building upon their previous individual experience of leasing, trading, and converting narrow-body aircraft, Aerovista has been developing its freighter product offering since early 2021.

Petrus Aviation is a leading provider of aviation financing and since 2003 has financed over 150 aircraft across almost every segment of commercial aviation. Their investments include aircraft and engine leasing, trading, part-outs, freighter conversions and more.

About Global Crossing Airlines
GlobalX is a US 121 domestic flag and supplemental Airline flying the Airbus A320 family aircraft. GlobalX flies as a passenger ACMI and charter airline serving the US, Caribbean, and Latin American markets. In 2022, GlobalX will enter ACMI cargo service flying the A321 freighter, subject to DOT and FAA approvals. For more information, please visit
For more information, please contact:

Mark Salvador
Chief Marketing Officer
Global Crossing Airlines Group, Inc.
Tel: 786.751.8510 (o)

Alim Lakhiyalov
Director of Marketing
Aerovista FZE
Tel: +1.604.353.4555

Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward-looking information contained in this news release includes, but is not limited to, statements with respect to the Company’s intention to fly as an ACMI and wet lease charter airline, Company’s projected aircraft fleet size and delivery dates, details of future charter operations, the destinations that the Company intends to service and the expected conversion and delivery dates of the aircraft.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the receipt of financing to continue airline operations, the accuracy, reliability and success of GlobalX’s business model; the timely receipt of governmental approvals; the success of airline operations of GlobalX; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the impact of competition and the competitive response to GlobalX’s business strategy; and the availability of aircraft. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement GlobalX’s operational strategy, the ability to attract qualified management and staff, labour disputes, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update any forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.