Global Crossing Airlines Announces European Summer Wet Lease Program with TUI fly Netherlands

MIAMI, June 27, 2022 (GLOBE NEWSWIRE) — Global Crossing Airlines Group Inc. (JET: NEO; JET.B: NEO; JETMF: OTCQB) (the “Company” or “GlobalX”) is pleased to announce the signing of an ACMI wet lease agreement to operate two (2) Airbus A320 aircraft (the “Aircraft”) for TUI Airlines Netherlands BV (“TUI fly Netherlands”), for use in its European summer programs. GlobalX will provide the Aircraft and qualified crews to TUI fly Netherlands for peak season flying in July and August, 2022. From a base of operation in Amsterdam, GlobalX will provide daily flights throughout Europe.

“We are honored to fly for TUI fly Netherlands, part of TUI, Europe’s largest travel company and one of the great airlines of Europe. We greatly appreciate their confidence in us to fly their valued customers to their vacations. We expect to grow as a company by watching and learning from the best practices of TUI fly Netherlands in their daily operations as well,” said Ed Wegel, Chair and CEO of GlobalX.

“Each year TUI and its airlines require extra aircraft capacity to match the high season demand in our European markets. GlobalX, as new operator with an experienced team, offers a perfect match with our demands and we are happy to welcome them to our network,” said Roel Martens, Head of Aviation Leases of TUI.

About Global Crossing Airlines

GlobalX is a US 121 domestic flag and supplemental Airline flying the Airbus A320 family aircraft. GlobalX flies as a passenger ACMI and charter airline serving the US, Caribbean, and Latin American markets. In 2022, GlobalX will enter ACMI cargo service flying the A321 freighter, subject to DOT and FAA approvals. For more information, please visit www.globalxair.com. 

About TUI

TUI is the leading travel company in the Netherlands and is part of the International TUI Group, one of the world’s leading tourism groups. The broad portfolio gathered under the Group umbrella consists of strong tour operators, 1,600 travel agencies and leading online portals, five airlines with around 150 aircraft, over 400 hotels, 16 cruise liners and many incoming agencies in all major holiday destinations around the globe. It covers the entire tourism value chain under one roof. This integrated offering enables the company to provide 27 million customers with an unmatched holiday experience in 180 regions. A key feature of the corporate culture is the global responsibility for economic, environmental and social sustainability. This is reflected in more than 20 years of commitment to sustainable tourism.

For more information, please contact:

Mark Salvador, Chief Marketing Officer
Email: [email protected]
Tel: 786.751.8510

Cautionary Note Regarding Forward-Looking Statements

This news release contains certain “forward looking statements” and “forward-looking information”, as defined under applicable United States and Canadian securities laws, concerning anticipated developments and events that may occur in the future. Forward-looking statements contained in this news release include, but are not limited to, statements with respect to the Company’s aircraft fleet size, the destinations that the Company intends to service, the details of planned flying for Tui fly Netherlands and growth of the Company’s business.

In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “expects” “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or ” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking statements contained in this news release is based on certain factors and assumptions regarding, among other things, the receipt of financing to continue airline operations, the accuracy, reliability and success of GlobalX’s business model; GlobalX’s ability to accurately forecast demand; the timely receipt of governmental approvals; the success of airline operations of GlobalX; GlobalX’s ability to successfully enter new geographic markets; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the Company has or will have sufficient aircraft to provide the service; the impact of competition and the competitive response to GlobalX’s business strategy; the future price of fuel, and the availability of aircraft. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include risks related to, the ability to obtain financing at acceptable terms, the impact of general economic conditions, risks related to supply chain and labor disruptions, failure to retain or obtain sufficient aircraft, domestic and international airline industry conditions, the effects of increased competition from our market competitors and new market entrants, passenger demand being less than anticipated, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, risks associated with doing business in foreign countries, the ability of management to implement GlobalX’s operational strategy, the ability to attract qualified management and staff, labor disputes, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; risks related to significant disruption in, or breach in security of GlobalX’s information technology systems and resultant interruptions in service and any related impact on its reputation; and the additional risks identified in the “Risk Factors” section of the Company’s reports and filings with applicable Canadian securities regulators and the U.S. Securities and Exchange Commission. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in the forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements are made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update any forward-looking statements. If GlobalX does update one or more forward-looking statements, no inference should be made that it will make additional updates with respect to those or other forward-looking statements.