From DHL to AC/DC, GlobalX Airlines lands new transport deals

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Eric Kulisch

Wed, Mar 12, 2025, 6:16 AM 5 min read

Global Crossing Airlines (OTCQB: JETMF), which operates 4 Airbus A321 converted cargo jets successful summation to 15 Airbus rider aircraft, said successful an net study past week that its cargo part generated much than 1,600 billable operating hours during the 4th quarter, quadruple the magnitude from the year-ago period.

The summation of IBC Airways, a South Florida-based bearer serving Caribbean islands specified arsenic Jamaica, Cuba and Haiti, arsenic a lawsuit contributed to the betterment successful revenue. Global Crossing (GlobalX) said it precocious renewed a six-month declaration with IBC Airways guaranteeing 200 artifact hours per period for 2 freighter aircraft. In the past six months, it besides began flying connected behalf of an aerial cargo wholesaler and United Airlines betwixt Puerto Rico and Chicago.

The bearer said it volition supply proscription services to DHL Express nether a short-term declaration that lasts into the 3rd quarter.

President and CFO Ryan Goepel told FreightWaves that GlobalX volition shuttle parcels wrong DHL’s web for six months, starting successful April, utilizing a azygous A321 freighter. The hose is treating the woody arsenic a proceedings to showcase its quality to execute and the beardown economics of the A321 successful the U.S. market, helium added.

GlobalX entered gross work 3 years agone with A320-family rider jets providing charter flights for airlines, cruise lines, casinos, sports teams, performance tours, the U.S. government, and edifice and edifice destinations. It began dedicated cargo work little than 2 years agone and is the lone relation of A321 passenger-to-freighter craft successful North America.

The cargo conception was a resistance connected GlobalX’s third-quarter earnings. In summation to constricted lawsuit demand and excess narrowbody freighter capableness successful North America, GlobalX was wounded by the nonaccomplishment of a U.S. Postal Service declaration arsenic the missive bearer shifts to cheaper crushed transportation.

“We judge we person mitigated a important magnitude of that vulnerability successful 2025 with the contracts we person successful place, which drives important year-over-year improvement,” Goepel said during Friday’s net telephone with analysts. The 4 freighter craft are present operating astir 300 to 400 hours per period for declaration customers, which volition bring the cargo conception adjacent to breakeven.