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Global Crossing Airlines Group Inc. Reports Q3 2025 Financial Results, Highlights Operational Improvements
JETMF
Earnings
Management Change
Revenue Acceleration/Inflection
- Global Crossing Airlines Group Inc. reported Q3 2025 revenue of $58.0 million, an 11% year-over-year increase, with net loss improving to $(2.0) million from $(4.9) million in Q3 2024. The company achieved positive EBITDA of $4.3 million and EBITDAR of $18.9 million.
- The company experienced operational challenges, losing approximately 500 block hours to unscheduled maintenance, which prevented net income profitability. In response, management has overhauled leadership, redesigned processes, and reduced over $5 million in annualized office and operating costs.
- Revenue growth was primarily driven by the ACMI business, which increased 44% to $53.2 million and now represents 92% of total revenue. GlobalX plans to expand its fleet to 20 aircraft by the end of 2025, with new aircraft deliveries expected to be in revenue service by December.
- Cash and restricted cash totaled $7.2 million as of September 30, 2025.
Nov 12, 2025, 7:42 PM
Quarterly earnings call transcripts for JETMF.
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