Global Crossing Airlines Announce Wet Lease of First A321 Freighter Aircraft to Avianca

Global Crossing Airlines Group, Inc. (JET: NEO; JET.B: NEO; JETMF: OTCQB) (the “Company” or “GlobalX”) announces the signing of a multiple-year charter agreement for its first Airbus A321 Passenger-to-Freighter (P2F) aircraft (the “Aircraft”) entering service to an affiliate of Avianca Cargo (“Avianca”) to support its North American and Latin America cargo programs. The Aircraft, which marks the beginning of the Company’s XCargo™ division, is the first of thirteen (13) firm agreements with lessors, as well as seven (7) additional commitments to acquire and convert Airbus A321s in its P2F program. GlobalX intends to bring all of these future converted aircraft to market between October 2022 and the end of calendar year 2024. Terms of the agreement allow Avianca Cargo to wet lease or charter up to four additional freighters from GlobalX over the next five years. The Aircraft will be the first A321 Freighter to be operated by a U.S. airline.

“We are extraordinarily honored that we will be operating our first A321 freighter for Avianca, one of the great and storied names in aviation. The A321 P2F is a great addition to Avianca Cargo’s aircraft fleet, providing it flexibility to offer cargo services to smaller markets, and to feed Avianca’s A330 fleet at the airline’s main hubs,” said Ed Wegel, Chair and CEO of GlobalX.

“This partnership will allow us to offer in the short and mid-term, more capacity to our customers starting in 2022, with a clear objective of fulfilling their needs. With this, we will expand our capacity in specific markets, offering more options and products,” said Gabriel Oliva, CEO of Avianca Cargo.