GlobalX Q2 revenue $17.4M, net loss $6.8M; reaffirms FY22 revenue guidance of $90M+

Global Crossing Airlines Group Inc.

2022-Q2 EPS reported -$0.22 revenue$33,821,992

Record quarterly revenue of $17.4M, up 7% from Q1 2022 with same aircraft count, driven by 2,132 block hours.
Net loss of $6.8M due to $2.7M pilot training costs and $1M IT investments for growth.
Reaffirms FY2022 revenue guidance of $90M+; expects operating profitability in Q3 2022.
Q3 update: 50% increase in hours sold vs Q2 flown; adding one A321 passenger and one A321F freighter aircraft.
Entering final stage of cargo certification; signed first dedicated A321 freighter contract with major South American carrier.

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