Global Crossing Airlines Group, Inc. (Cboe CA: JET, Cboe CA: JET.B, OTCQB: JETMF) (the “Company” or “GlobalX”), the Nation's fastest growing charter airline, today announced that it has entered into a joint venture with ATB Aviation Australia (“ATB Aviation”) to establish a new airline headquartered in Melbourne, Australia.
Serving the Asia-Pacific (APAC) region, a market with dynamic growth potential, the new airline will operate as a charter airline, offering both charter and ACMI (Aircraft, Crew, Maintenance, and Insurance) services. This innovative aviation model promises unmatched convenience for passengers and businesses across the APAC region. The charter and ACMI business models are widely recognized for efficiency, flexibility, and economic viability, particularly in comparison to traditional commercial airlines.
Like its US counterpart, the new joint venture entity will provide both passenger and cargo transportation services to Australia and key Asian markets. The joint venture entity will fly a fleet of Airbus A320 family of aircraft following the successful completion of all regulatory and compliance requirements, including obtaining its initial application, approval, and obtaining an Australian Air Operator Certificate (AOC).
The APAC region, encompassing East Asia, Southeast Asia, South Asia, and Oceania, is one of the fastest growing and most vibrant aviation markets globally. With the charter flight market in APAC projected to reach USD $6.8 billion annually1, the new joint venture entity is well-positioned to capitalize on this demand. Notably, it will also support leading regional carriers during peak travel seasons.
Eric Dang, President of ATB Investment & Partners, stated, "With the launch of our APAC joint venture, we are bringing more choices to customers in the charter flight segment. This joint venture, backed by the proven expertise and resources of GlobalX, will introduce innovative models and products tailored to APAC customers, just as they have successfully done in North America, the UK, and Europe."
GlobalX, North America's fastest-growing charter airline, is one of the most dynamic charter carriers in the narrowbody passenger and cargo markets. The airline currently operates a fleet of 18 Airbus A321 family of passenger and cargo aircraft, serving markets in the US, the Caribbean, and Latin America. GlobalX is also the only North American operator of the Airbus A321P2F freighter.
Ryan Goepel, President and CFO of GlobalX, remarked, "We are thrilled to partner with ATB Aviation to launch this APAC joint venture, marking an important step in expanding our innovative charter and ACMI model to the global stage. With significant untapped potential in the APAC market, we are committed to ensuring the success of this joint venture. The GlobalX know-how and operational excellence, paired with our partners' talent and proven experience at ATB Aviation, will set a strong foundation for a successful new airline."
Targeting a start of operations in late 2025, the new joint venture entity aims to expand its fleet to 10 aircraft within its first five years of operation.