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Some signs of life from the business side. Profitable by later this year would be great. I think they have scaled up nicely and are setup with a good backlog of work for the rest of the year. Let's see how it all shakes out.
Results look encouraging. I like the added hours and that they are adding to the fleet. Any additional details from the Webinar today? I missed it.
This thing doesn't have much action to begin with so if someone feels like selling, it tends to walk down bit by bit. I have not kept an eye on specific selling blocks day to day but that is generally what I have seen. Average daily volume is very low.
There is a lot of action from the business with commitments to lease more planes and as of today, the listing of the Canada Jetlines shares on the neo stock exchange. I am waiting this out to see what this aggressive action yields. Still quiet on the message boards so very little attention is on the stock. If more eyes land on this, it could see a nice bump up.
Besides the financials and new contracts, the next biggest thing to help this stock will be up listing to the nasdaq, which they said would take 8-12 weeks from the date they apply. I do not think they gave a date for when they would apply but I also may have missed that detail.
Nothing too exciting. They keep making progress on a few fronts. I believe they said they expect the Canada Jetlines listing on the Tsx to be completed in October. They provided updated numbers on the revenue so far and expected revenue for the upcoming quarters. They keep looking to add planes and expect to have a one based out of Las Vegas soon.
This account has a pretty good summary.
$jet.v GlobalX's revenue for August 2021: $1.4m
— Jetlines News (@jetlinestracker) September 1, 2021
New GlobalX customers: pic.twitter.com/VQqWmHlScc
Nice coverage of their work in Afghanistan.
Thank you to @aeroTELEGRAPHen for covering GlobalX’s Kabul evacuation missions on behalf of the US Government. As the only non-military aircraft performing these missions, we are honored to provide help to those who most desperately needed it. https://t.co/FE4eZS4qWb
— Global Crossing Airlines (@globalxairlines) August 25, 2021
They have been hard at work securing contracts to fly these airplanes and we are starting to see some of the clients revealed. It will be interesting to see the revenue numbers once they share their earnings.
Welcoming @PSG_Feminines and @FCBayernUS to SDF for @thewomenscup! pic.twitter.com/hIo39oUdzK
— FlyLouisville (SDF) (@FlyLouisville) August 15, 2021
Found this article about their fall plans to fly the Temple and Monmouth football teams to and from games.
https://pressofatlanticcity.com/news/local/new-charter-airline-globalx-to-start-flying-college-football-teams-out-of-acy/article_4f1340d8-f3b2-11eb-87d5-b3aeb484cbeb.html
Supposedly today is the day they get their FAA paperwork. Just waiting on the official press release. They have the Webinar tomorrow with updates about revenue operations so we should know then when the first flight takes off. Exciting. Times.
#GlobalX is pleased to announce it will be presented its Air Operating Certificate by the FAA next Tuesday August 3. GlobalX will be a US 121 flag carrier and authorized to conduct both scheduled and supplemental charter operations subject to final DOT approvals. pic.twitter.com/0O9Zr16KTa
— Global Crossing Airlines (@globalxairlines) July 30, 2021
Same here. Ed wegel or someone on the conference call stated they need the shares to get listed on the tsx for it to show up as actual shares.
Proving runs are done tomorrow and revenue flights start in mid july. They have passed everything thus far and at this point it is just a matter of time until they get the official paperwork. Great update so far.
Jetlines shares should be in accounts by the end of the week. 1 share of Jetlines for every 2 shares of global x. Update on the approval for global x is coming at 2 pm eastern.
Webcast update next week about the proving runs. According to their last update they would have lasted two weeks so they should be done and awaiting the paperwork. They had a tweet yesterday about a proving run flight out of punta cana. I have been averaging down since it looks like the announcement is imminent now.
Proving runs start tomorrow and run for 2-3 weeks. Link below is for FAQ.
https://howardgroupinc.com/2021/06/globalx-canada-jetlines-faq/
Yes, I believe they state that proving runs for the certification are starting shortly. The video below goes through the presentation and they answer many questions.
Yes, I believe they state that proving runs for the certification are starting shortly. The video below goes through the presentation and they answer many questions.
Final step is next. They just tweeted this.
Last night, #GlobalX conducted the evacuation demo in front of 8 FAA inspectors. In the words of the FAA, the demo was “textbook perfect,” and completed in 10 seconds. Our team is ready for the final test--our proving run flights!
— Global Crossing Airlines (@globalxairlines) April 28, 2021
It’s Time to Fly ™ pic.twitter.com/m76HoosTrn
Spinoff share plans were just sent out. They will do 1 share of Canada Jetlines for every two shares of global x. They are currently planning to do this before the end of Q2.
Yes, Canada Jetlines had many more obstacles that they ultimately couldn't overcome. I've been here for years now watching and waiting for this to recover. It will be very satisfying to see the first revenue flight leave the tarmac.
With the current contracted work, this should be an interesting next few months.
They have received the airplane. It looks like some further drills with the FAA are scheduled for next week. This process has been slow when you consider that late last year they were saying they expected revenue flights to start in January. Let's hope they are able to get going in May and are able to add a few more contacts along the way.
It sounds like they are close. They mention then FAA progress every month when they issue updates. So proving run schedule approved, proving runs performed, then certification?
From the LinkedIn release:
"We expect the final proving run flight schedule, the last certification hurdle, to be FAA initially approved next week with proving run flights expected to start as soon as tabletops and mini evac are completed and subject to FAA resource availability."
Latest update from their linked in.
Update from GLX: FAA 121 Certification continues to progress as the aircraft conformity review (a major phase 4 event) has started- this is a full nose to tail review by the FAA of every aspect of our first A320 aircraft- all maintenance records, on board equipment, software systems, avionics, etc. are reviewed line by line as a test of our tracking capabilities and our manuals design. Other milestone events including the Mini-evac drill and tabletops are scheduled with all crew and management staff now practicing tabletop scenarios to be fully prepared. We expect the final proving run flight schedule, the last certification hurdle, to be FAA initially approved next week with proving run flights expected to start as soon as tabletops and mini evac are completed and subject to FAA resource availability.
On the revenue flying contracts front, in addition to the major LOIs already signed for South American flying from the US, we have agreed to LOI terms with a major California based resort casino group for a minimum of 50 hours per month, and signed LOI’s for an additional 160 hours per month of flying with major Caribbean and Mexico destinations.
They have taken possession of their first plane.
I also saw an article that they have completed an offering in order to pay for the certification.
https://howardgroupinc.com/2021/01/globalx-takes-delivery-of-its-first-airbus-a320-at-miami-international-airport/
https://howardgroupinc.com/2021/01/global-crossing-airlines-announces-financing-to-complete-certification/
February is when they have stated approval will come and soon after revenue operations begin. In the now deleted link, they talked about that and the pipeline of closed and potential deals. It was a slightly higher estimate than what they had stated before, I believe.
They announced a president for the Canada Jetlines business. His resumé looks impressive. It will be interesting to see them get that up and running when the previous group failed miserably.
https://howardgroupinc.com/2020/12/global-crossing-airlines-appoints-new-president-of-its-canada-jetlines-affiliate-2/
Yeah. They are moving forward quickly now. Will be a busy next few weeks as they take possession of the first plane and finish up the certification. If they do that they can begin revenue operations next month.
Here are some pictures of the first plane. It looks good. It arrives in Miami Dec 10.
https://howardgroupinc.com/2020/11/global-crossing-airlines-tsxv-jet-first-a321-painted-and-arriving-shortly/?utm_source=The+Howard+Group+Inc.&utm_campaign=e301fa7d35-EMAIL_CAMPAIGN_2020_11_03_05_31&utm_medium=email&utm_term=0_098ea27615-e301fa7d35-224882023
October update is up. They showed off a few pictures of a plane and mentioned that the spinoff for the Canada business will happen in q1 or q2 of 2021.
Still on schedule to start the revenue flights in Jan. I believe they said they will be flying 7 times a week and may increase that to 10 times.
I got tied up and missed it.
Did they provide an update on the FAA process?
Next update is tomorrow at 1:30 pm eastern. They announced the loi for the 10 freighters and the exercise of warrants easier in the week so let's see what FAA updates they have to share.
October Webinar link:
FAA approval should do it. Once they are cleared to fly they can generate revenue and become a real business. They have agreements in place for charter services so they just need that FAA sign off. First plane next month and then hopefully take off in January.
Here is a link the the pdf of the slides.
Highlights are that they submitted final FAA paperwork and the first airplane is in paint and they will get it by the end of November. Also, they are in discussions with three shell companies for the spinoff of the Canadian side of the business.
Looks like there is a light at the end of the tunnel and they will be pretty close to generating revenue soon.
https://www.globalairlinesgroup.com/documents/GlobalXInvestorDeckOct2020.pdf
Thank you for that link. They recently did their update for investors and did not mention any changes to their plans. It will be interesting to see if November's election changes that policy by December or January when they will be ready to take flight.
https://cu.usembassy.gov/u-s-citizen-services/local-resources-of-u-s-citizens/traveling-to-cuba/
The restrictions are the same as the ones I saw months ago. You can get into Cuba as a tourist under the guise of educational purposes. There are other allowed travel categories so the potential customers they'd be serving is a little broader but still limited.
Spinoff shares officially in the works for Canada Jetlines Vacations. They'll use an existing shell and rename to have the ticker "CJV".
https://howardgroupinc.com/2020/09/global-crossing-announces-plans-for-spin-out-of-canada-jetlines-operations/
First plane arrives in December and will be used for their Cuba charters. They signed the letter of intent with magnetic leasing. They will be signing more leases for more planes in the next two weeks.
They keep moving forward.
Looks like December 2020 is start of first operations. They have a signed agreement with a cuban tour operator and are in negotiations with the government of Ecuador for another contract. Both have December start dates.
https://www.globalairlinesgroup.com/documents/globalxinvestordeckaug2020final.pdf
Found the link to the article you referenced.
https://pressofatlanticcity.com/pac/start-up-charter-airline-signs-deal-with-atlantic-city-airport/article_c9098268-babe-56e8-8afa-7f5ed797db4b.html
Further updates. Still moving along. Need that faa approval.