Global Crossing Airlines Group announces changes to its Board and Management Team

MIAMI, Feb. 05, 2024 – Global Crossing Airlines Group, Inc. (JET: Cboe CA; JET.B: Cboe CA; JETMF: OTCQB) (“GlobalX”) announces the appointment, effective today, of Chris Jamroz as Executive Chairman and Ryan Goepel as President. Mr. Goepel will continue to serve as Chief Financial Officer. The Board of Directors (the “Board”) and Edward J. Wegel, the Company’s Chief Executive Officer, have agreed that Mr.Wegel will resign his duties, rights, and obligations as an officer and Chairman and CEO of the Company, effective immediately. While the Company continues its search for a successor, the leadership team will report to the Executive Chairman of the Board. Ed Wegel will continue to serve on GlobalX’s Board of Directors and as a GlobalX Senior Advisor.

“It has been a great privilege for me to have helped build GlobalX over the last 4 years. As I step down from day-to-day operations, I look forward to working with the Board in the future to continue to provide strategic advice and industry knowledge to help continue the growth and development of the airline,” said Mr. Wegel.

“I want to thank Ed and acknowledge his profound contributions to launching and assuring the prosperity of our airline. I cannot think of any other aviation executive of Ed's talent, grit, dedication, and perseverance, which were critical to GlobalX's rapid growth and success”, said Jamroz, “With a strong operating team in place and a solid pipeline of additional aircraft and revenue contracts, GlobalX is well positioned for the future”, he added.

In 2021, Chris Jamroz, while at the helm of Ascent Logistics, led the transformative investment in GlobalX, and has since served as Board Advisor and subsequently, Director of the Board. Over the span of his career with seven successfully completed platform exits and close to $10B in shareholder value created for financial sponsors and ownership groups, Jamroz, founder of LyonIX Holdings, is an expert operating executive in logistics across all modes of supply chain, globally. In his prior roles, Jamroz led USA Jet Airlines, a US-based certificate air cargo carrier operating under both FAR Part 135 and 121 Ops Specs dedicated to ad-hoc charter focused on the automotive, industrial, and manufacturing verticals, and before that, he oversaw the operations of Ameriflight, America's largest Part 135 Cargo airline, with a fleet of over 230 owned fixed wing aircraft.

Ryan Goepel is GlobalX’s first employee, serving as Executive Vice President and Chief Financial Officer since February 2020, and is also a founding shareholder. In collaboration with Ed Wegel, Ryan spent the past four years creating and building GlobalX, taking the lead role in all finance, fundraising, aircraft acquisition, and sales initiatives. “Over the last 4 years, Ryan has proven to be a talented and capable executive and I want to congratulate him on this well-deserved promotion. I’m looking forward to working closely with Ryan on taking our operation to the next level,” added Chris Jamroz.

In addition, GlobalX announced it will dedicate its focus and resources on its fast-growing ACMI passenger and cargo charter business, further building on the breakthrough success accomplished in 2023. “We’re seeing an unprecedented opportunity to further grow our ACMI business, and we want to ensure GlobalX continuing its focus on profitability in that space,” said Chris Jamroz, GlobalX Executive Charmain. Jamroz elaborated, “In 2023 GlobalX operated 18,071 block hours, a 109% percent increase over 2022. The first month of 2024 has also started strong with greater than 1,737 hours operated, a 134% percent increase over January 2023. Given this rapid growth and clear need for additional aircraft capacity to meet the sales demand, we are re-directing our company resources to be devoted to the passenger charter business and its needs.”