secwatch.observer — SEC 8-K summary
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Issuer:     Global Crossing Airlines Group Inc. (JETMF)
CIK:        0001846084
Form:       8-K
Filed at:   2023-08-11T23:59:59+00:00
Accession:  0001193125-23-209696
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Global Crossing Airlines Q2 revenue $31.5M, up 80.5% YoY; raises 2023 guidance to $150M
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- Revenue $31.5M (up 80.5% YoY); adjusted EBITDAR $5.3M; adjusted EBITDA ($1.5M); adjusted EPS ($0.05).
- Net loss $7.5M or ($0.13)/share; block hours 3,585 (+70% YoY); July flew 2,538 block hours.
- 2023 revenue forecast raised to $150M (+54% vs 2022); 75% contracted; 13,629 block hours contracted YTD.
- Secured $35M loan from Axar Capital (6-yr term, 15% interest, 10M warrants at $1); no near-term equity need.
- Q2 impacted by $4.2M accelerated pilot training, $2.4M freighter delivery delays, and MRO downtime on 26% of fleet.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1846084/000119312523209696/0001193125-23-209696-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1846084/000119312523209696/d413749d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-209696

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