Global Crossing Airlines Inducts First A321 for Cargo Conversion and Outlines Near Term Fleet and Growth Plans

Global Crossing Airlines Inc. (JET: TSX-V; JET.B: TSX-V; JETMF: OTCQB) (the “Company” or “GlobalX”) is pleased to announce that its first A321 passenger to freighter aircraft has entered the first phase of conversion at Hong Kong Engineering Company Limited (“HAECO”) in Lake City Florida. Following a period of heavy maintenance at HAECO, the aircraft will be inducted in January 2022 into the 321 Precision Conversions (“Precision”) facility near Orlando for cargo conversion. This aircraft is the first of four A321 units from Greenwich Highland Aviation, LLC (“GHA”) to be converted and leased to GlobalX.

GlobalX’s fleet development plans for the balance of 2021 include the delivery of three A320’s, one on lease from Irish-based lessor Genesis Aircraft Services Ltd., and two leased from FTAI Aviation LLC., a wholly owned subsidiary of Fortress Transportation and Infrastructure Investors LLC. A fourth A320 is also under LOI for delivery in late December 2021, with the definitive lease agreement expected to be concluded soon.

“We are delighted our first A321 is starting its conversion process to freighter for expected delivery to us in July 2022. We look forward to working with Greenwich Highland Aviation and 321 Precision Conversions on this four aircraft fleet program. We are also excited about our growth plan in A320 passenger aircraft to meet the increasing charter demand in the US, particularly with our recent receipt of our Foreign Air Operator Certificates in Canada and Mexico,” said Ed Wegel, Chair and CEO of GlobalX.

All aircraft under LOI are subject to conclusion of definitive agreement. GlobalX also announces that it has granted 220,000 restricted stock units to certain directors and officers of GlobalX.