Chairman and Chief Executive Ed Wegel said, "This increased authorization will allow us to continue the execution of our 2023 business plan to add up to two more A320 passenger aircraft and two A321 freighters later this year, subject to FAA approvals." This comes in addition to the A319 passenger aircraft and A321 freighter set to join the fleet in the next 30 days, bringing the total fleet size to 12 aircraft.
GLOBALX currently operates seven A320-200s, two A321-200s, and one A321-200(P2F). Plans are in place to add the first A321-200(PCF), N411GX (MSN 1438), by the end of May 2023, followed by the first A319, N285GX (msn 1936), next month. The A319 will be used for the carrier's ETOPS certification.
The airline intends to take delivery of two more A321 freighters in June and July 2023, followed by the eighth A320 in August 2023. GLOBALX also plans to add one more A320 and two additional A321 freighters in the final quarter of the year.
For the summer of 2023, GLOBALX's scheduled passenger operations will include a two-aircraft ACMI contract for TUI fly Netherlands out of Amsterdam Schiphol, a charter contract with start-up Red Way out of Lincoln, NE, a Lynx Air wet-lease out of Calgary, and an extensive program of leisure charters to the Caribbean and Mexico, along with other ACMI and charter contracts.
In 2024, the airline aims to expand its fleet to 30 aircraft, 12 of which will be freighters. In addition to its current AOC in the United States, the airline is also proceeding with the certification of Global X Colombia, an all-cargo carrier.
Despite facing financial challenges in Q1 2023, including a $1.4 million increase in training expenses due to accelerated cockpit crew hiring, GLOBALX expects to receive $2.25 million as compensation for late aircraft deliveries. The airline reported an adjusted EBITDA loss of $2.9 million for Q1 2023 and is currently in discussions with unnamed third parties to secure additional working capital.
