---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-142070"
form_type: "8-K"
ticker: "JETMF"
cik: "0001846084"
company_name: "Global Crossing Airlines Group Inc."
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T04:51:47.770040+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# GlobalX Q1 revenue $32.2M (+96% YoY), adjusted EBITDAR $2.5M, reaffirms $140M+ 2023 revenue

## Summary
- Q1 revenue $32.2M, up 96% YoY; adjusted EBITDAR $2.5M, adjusted EBITDA ($2.9M), adjusted EPS ($0.07).
- Reaffirms 2023 revenue forecast over $140M; $104M already contracted; expects $65M in H1.
- Q1 impacted by $1.4M training costs, $6M government contract deferral, $1.5M A321F delay; expects $2.25M compensation.
- Ended Q1 with $14.7M current assets; in discussions for additional debt/equity capital.
- Received FAA approval for A321F cargo ops; first freighter in service; second due late May.

## SEC filing metadata
- accession: 0001193125-23-142070
- form_type: 8-K
- ticker: JETMF
- cik: 0001846084
- company_name: Global Crossing Airlines Group Inc.
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1846084/000119312523142070/0001193125-23-142070-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1846084/000119312523142070/d500215d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-142070
- JSON: https://secwatch.observer/filing/0001193125-23-142070.json
- Plain text: https://secwatch.observer/filing/0001193125-23-142070.txt

## Key facts
- Earnings Releases
  Global Crossing Airlines Group Inc. reported FY2023 results: revenue $140 million. Guidance reaffirmed.
  - Period: FY2023
  - Revenue: $140 million
  - Guidance: reaffirmed
  - Result: guidance update
  source text: GlobalX is providing revenue guidance of over $140 million in revenue for 2023 based on a fleet of 9 passenger and 2 cargo aircraft, a 69% increase over 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1846084/000119312523142070/0001193125-23-142070-index.htm
- Earnings Releases
  Global Crossing Airlines Group Inc. reported Q1 2023 results: revenue $32.2 million, EPS $(0.07).
  - Period: Q1 2023
  - Revenue: $32.2 million
  - EPS: $(0.07)
  - Result: reported results
  source text: Total operating revenue for Q1 2023 was $32.2 million. This represents an increase of $15.8 million or 96.3% when compared to Q1 2022. In addition, GlobalX operated 3,134 revenue block hours in Q1 2023 representing an 81% increase over the number of block hours operated in Q1 2022. Q1 2023 results on an Adjusted EBITDAR (1) basis were $2.5 million, an Adjusted EBITDA (1) basis of approximately ($2.9) million and Adjusted EPS (1) of $(0.07).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1846084/000119312523142070/0001193125-23-142070-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.