Global Crossing Airlines (JETMF) 10-K 6 Mar 25 2024 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2024	Feb. 28, 2025	Jun. 30, 2024
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2024
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Entity Registrant Name	Global Crossing Airlines Group Inc
Documents Incorporated by Reference	The information required by Part III of this Form 10-K, to the extent not set forth herein, is incorporated by reference from the registrant’s definitive proxy statement for its 2024 Annual Meeting of Stockholders.
ICFR Auditor Attestation Flag	false
Entity Central Index Key	0001846084
Current Fiscal Year End Date	--12-31
Document Financial Statement Error Correction [Flag]	false
Auditor Name	Rosenberg Rich Baker Berman P.A.
Auditor Location	Somerset, New Jersey
Auditor Firm ID	89
Auditor Opinion	Opinion on the Financial Statements We have audited the accompanying balance sheets of Global Crossing Airlines Group, Inc. (the Company) as of December 31, 2024 and 2023, and the related consolidated statements of operations, changes in shareholders’ equity, and cash flows for each of the years in the two-year period ended December 31, 2024, and the related notes (collectively referred to as the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for each of the years in the two-year period ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America.
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Document Annual Report	true
Entity Public Float			$ 23,284,401
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity File Number	000-56409
Entity Incorporation State Country Code	DE
Entity Tax Identification Number	86-2226137
Entity Address Address Line1	4200 NW 36th Street,
Entity Address, Address Line Two	Building 5A
Entity Address, Address Line Three	Miami International Airport
Entity Address City Or Town	Miami
Entity Address State Or Province	FL
Entity Address Postal Zip Code	33166
City Area Code	786
Local Phone Number	751-8503
Document Transition Report	false
Undesignated Common Stock
Document Information [Line Items]
Title of 12(g) Security	Common stock, par value $0.001
Entity Common Stock, Shares Outstanding		45,221,671
Class A Nonvoting Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		5,537,313
Class B Nonvoting Common Stock
Document Information [Line Items]
Title of 12(g) Security	Class B non-voting common stock, par value $0.001
Entity Common Stock, Shares Outstanding		11,368,571

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 12,345	$ 11,596
Restricted cash	1,698	6,080
Accounts receivable, net of allowance	6,678	10,181
Prepaid expenses and other current assets	2,142	2,552
Current assets held for sale	489	184
Total Current Assets	23,352	30,593
Property and equipment, net	10,308	5,525
Finance leases, net	27,489	4,108
Operating lease right-of-use assets	89,809	76,881
Deposits	11,552	12,506
Other assets	4,229	1,717
Total Assets	166,739	131,330
Current liabilities
Accounts payable	12,568	7,481
Accrued liabilities	20,418	17,465
Deferred revenue	8,903	9,896
Customer deposits	4,080	3,935
Current portion of long-term operating leases	16,479	13,650
Current portion of finance leases	3,434	599
Total current liabilities	65,882	53,026
Other liabilities
Note payable, net of debt issuance costs	29,729	29,175
Long-term operating leases	75,128	65,158
Long-term finance leases	25,182	3,292
Other liabilities	286	546
Total other liabilities	130,325	98,171
Total Liabilities	196,207	151,197
Commitments and Contingencies (Note 7)
Stockholders' Equity (Deficit)
$.001 par value; 200,000,000 authorized; 61,758,727 and 58,925,871 issued and outstanding as of December 31, 2024 and December 31, 2023, respectively	60	59
Additional paid-in capital	40,951	38,943
Retained deficit	(70,566)	(59,094)
Total Company's stockholders' deficit	(29,555)	(20,092)
Noncontrolling interest	87	225
Total stockholders' deficit	(29,468)	(19,867)
Total Liabilities and Deficit	$ 166,739	$ 131,330

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock par value	$ 0.001	$ 0.001
Common stock shares authorized	200,000,000	200,000,000
Common stock shares issued	61,758,727	58,925,871
Common stock shares outstanding	61,758,727	58,925,871

CONSOLIDATED STATEMENT OF OPERA

CONSOLIDATED STATEMENT OF OPERATIONS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Income Statement [Abstract]
Revenue		$ 223,751	$ 160,122
Operating Expenses
Salaries, Wages, & Benefits		67,787	54,057
Aircraft Fuel		23,828	29,476
Maintenance, materials and repairs		13,210	8,603
Depreciation and amortization		6,271	2,293
Contracted ground and aviation services		19,599	20,507
Travel		11,174	8,334
Insurance		6,189	5,009
Aircraft Rent		57,677	33,632
Other		19,144	14,079
Total Operating Expenses		224,879	175,990
Operating Loss		(1,128)	(15,868)
Non-Operating Expenses
Interest Expense		8,955	4,916
Loss in Canada Jetlines Operations Ltd.		1,300
Total Non-Operating Expenses		10,255	4,916
Loss before income taxes		(11,383)	(20,784)
Income tax expense		2	2
Net Loss		(11,385)	(20,786)
Net Income attributable to Noncontrolling Interest		87	225
Net Loss attributable to the Company		$ (11,472)	$ (21,011)
Loss per share:
Basic		$ (0.19)	$ (0.37)
Diluted	[1]	$ (0.19)	$ (0.37)
Weighted average number of shares outstanding		60,359,587	56,763,879
Fully diluted shares outstanding		60,359,587	56,763,879
[1] There were 17,732,764 warrants, 246,667 options, and 5,373,373 RSUs outstanding at December 31, 2024 and there were 22,518,894 warrants, 470,668 options, and 5,056,270 RSUs outstanding at December 31, 2023. The Company excluded the warrants, options and RSUs from the calculation of diluted EPS for the years ended December 31, 2024 and 2023 as inclusion would have an anti-dilutive effect.

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (11,385)	$ (20,786)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation expense	6,271	2,293
Credit losses	482	6
Loss on sale of property		136
Loss (gain) on sale of spare parts	173	(433)
Amortization of debt issue costs	649	902
Amortization of operating lease right of use assets	14,300	8,173
Share-based payments	1,680	2,465
Interest on finance leases	3,043	435
Changes in assets and liabilities:
Accounts receivable	3,241	(7,746)
Assets held for sale	(364)	1,666
Prepaid expenses and other current assets	410	(322)
Accounts payable	5,276	2,365
Accrued liabilities and other liabilities	2,104	17,153
Operating lease obligations	(14,430)	(7,928)
Other liabilities	(3,379)	242
Net cash provided by (used in) operating activities	8,071	(1,379)
CASH FLOWS FROM INVESTING ACTIVITIES
Deposits, deferred costs and other assets	(2,775)	(9,144)
Purchases of property and equipment	(7,218)	(4,042)
Net cash used in investing activities	(9,993)	(13,186)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on finance leases	(1,815)	(480)
Noncontrolling interest dividends paid	(225)
Proceeds on issuance of shares	329	1,872
Repayment of notes payables		(9,902)
Proceeds from note payable		35,290
Net cash (used in) provided by financing activities	(1,711)	26,780
Net (decrease) increase in cash, cash equivalents, and restricted cash	(3,633)	12,215
Cash, cash equivalents and restricted cash - beginning of the period	17,676	5,461
Cash, cash equivalents and restricted cash - end of the period	14,043	17,676
Non-cash investing and financing activities
Reclass of Property and equipment to offsets current assets held for sale and other current assets (insurance receivable)	653
Right-of-use (ROU) assets acquired through operating leases	27,229	57,101
Equipment acquired through finance leases	26,619	1,915
Note Payable reductions through accounts receivable from sale of Assets held for sale		145
Cash paid for
Interest	$ 8,137	$ 753

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid in Capital	Retained Deficit	Parent	Noncontrolling Interest
Beginning Balance at Dec. 31, 2022	$ (7,256)	$ 53	$ 30,774	$ (38,083)	$ (7,256)
Beginning balance, shares at Dec. 31, 2022		53,440,482
Issuance of shares - warrants and options exercised	1,425	$ 3	1,422		1,425
Issuance of shares - warrants and options exercised, shares		2,877,083
Warrants issued	3,838		3,838		3,838
Issuance of shares - share based compensation on RSUs	2,385	$ 2	2,383		2,385
Issuance of shares - share based compensation on RSUs, shares		1,803,992
Issuance of shares - ESPP	527	$ 1	526		527
Issuance of shares - ESPP, shares		804,314
(Loss) income for the period	(20,786)			(21,011)	(21,011)	$ 225
Ending Balance at Dec. 31, 2023	(19,867)	$ 59	38,943	(59,094)	(20,092)	225
Ending balance, shares at Dec. 31, 2023		58,925,871
Issuance of shares - share based compensation on RSUs	1,622	$ 1	1,621		1,622
Issuance of shares - share based compensation on RSUs, shares		2,080,648
Issuance of shares - ESPP	387		387		387
Issuance of shares - ESPP, shares		752,208
Dividends declared to noncontrolling interest	(225)					(225)
(Loss) income for the period	(11,385)			(11,472)	(11,472)	87
Ending Balance at Dec. 31, 2024	$ (29,468)	$ 60	$ 40,951	$ (70,566)	$ (29,555)	$ 87
Ending balance, shares at Dec. 31, 2024		61,758,727

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (11,472)	$ (21,011)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Cybersecurity Risk Management,

Cybersecurity Risk Management, Strategy, and Governance	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	ITEM 1C. CYBERSECURITY GlobalX's Audit Committee, comprising board members and senior management from various departments including IT, operations, legal, risk management, and others, diligently engage in regular cybersecurity risk assessments. These comprehensive assessments are designed to proactively identify potential threats, vulnerabilities, and risks that could impact the integrity and security of the company's airline systems, data infrastructure, and operational continuity. Evaluations span critical areas such as safeguarding flight systems, protecting passenger data, and mitigating operational disruptions. Moreover, the GlobalX Audit Committee remains committed to providing timely updates and detailed reports, offering insights into the airline's cybersecurity posture, ongoing initiatives, prevalent incident trends, and active remediation efforts. These reports are meticulously crafted, incorporating key metrics, performance indicators, and actionable recommendations aimed at continual enhancement. The committee vested with cybersecurity oversight consistently conducts periodic reviews of GlobalX's cybersecurity policies, procedures, and controls. These reviews are pivotal in ensuring the ongoing effectiveness of the company's cybersecurity framework and its alignment with emerging threats and evolving industry best practices. Regular updates are meticulously implemented to fortify the company's cybersecurity resilience in response to emerging risks and evolving regulatory requirements. As of December 31, 2024, and 2023, GlobalX remains proud to report that it has no t encountered any cybersecurity incidents that have materially impacted, or are reasonably likely to materially impact, the Company.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	GlobalX's Audit Committee, comprising board members and senior management from various departments including IT, operations, legal, risk management, and others, diligently engage in regular cybersecurity risk assessments.
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Moreover, the GlobalX Audit Committee remains committed to providing timely updates and detailed reports, offering insights into the airline's cybersecurity posture, ongoing initiatives, prevalent incident trends, and active remediation efforts. These reports are meticulously crafted, incorporating key metrics, performance indicators, and actionable recommendations aimed at continual enhancement. The committee vested with cybersecurity oversight consistently conducts periodic reviews of GlobalX's cybersecurity policies, procedures, and controls. These reviews are pivotal in ensuring the ongoing effectiveness of the company's cybersecurity framework and its alignment with emerging threats and evolving industry best practices. Regular updates are meticulously implemented to fortify the company's cybersecurity resilience in response to emerging risks and evolving regulatory requirements.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Moreover, the GlobalX Audit Committee remains committed to providing timely updates and detailed reports, offering insights into the airline's cybersecurity posture, ongoing initiatives, prevalent incident trends, and active remediation efforts.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	The committee vested with cybersecurity oversight consistently conducts periodic reviews of GlobalX's cybersecurity policies, procedures, and controls.

Nature of Operations and Going

Nature of Operations and Going Concern	12 Months Ended
	Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations and Going Concern	1. NATURE OF OPERATIONS AND GOING CONCERN Global Crossing Airlines Inc. (the “Company” or “GlobalX”) was incorporated under the laws of British Columbia and continued as a Federal corporation pursuant to the Canada Business Corporations Act effective February 28, 2017. During the year ended December 31, 2020, the Company completed a business acquisition pursuant to which it acquired all of the issued and outstanding shares of Global Crossing Airlines, Inc. (“Global USA”), a Delaware corporation. For financial reporting purposes, the Company is considered a continuation of Global USA, the legal subsidiary, except with regard to authorized and issued common stock which is that of the Company, the legal parent. On December 22, 2020, the Company changed its jurisdiction of incorporation from the province of British Columbia, Canada to the State of Delaware. The U.S. Domestication was required for the Company to complete its charter licensing process and will also reflect the Company’s U.S.-business and operations. The Company’s principal business activity is providing passenger aircraft to customers through aircraft operating service agreements including, crew, maintenance, insurance (“ACMI”) and charter services “Charter” serving the US, Caribbean and Latin American markets. The Company’s shares trade on the CBOE Canada (the “Exchange” or “CBOE CA”) under the symbol “JET” and the OTCQB under the symbol “JETMF.” The consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), on a going concern basis which assumes that the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. As of December 31, 2024, the Company had a working capital deficit of $ 42.5 million and retained deficit of $ 70.6 million. The Company began flight operations in August 2021. Without ongoing income generation or additional financing, the Company will be unable to fund general and administrative expenses and working capital requirements for the next 12 months. These material uncertainties raise substantial doubt as to the Company’s ability to continue as a going concern. The Company is evaluating financing its future requirements through a combination of debt, equity and/or other facilities. There is no assurance that the Company will be able to obtain such financing or obtain them on favorable terms. The consolidated financial statements do not reflect the adjustments to the carrying values of assets and liabilities and the reported expenses and statement of financial position classifications that would be necessary were the going concern assumption deemed to be inappropriate. These adjustments could be material.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	2. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of consolidation The consolidated financial statements include the accounts of the Company, and the following subsidiaries. All intercompany transactions and balances have been eliminated on consolidation. Certain reclassification and format changes have been made to prior year amounts to conform to the 2024 presentation. Subsidiaries Name Place of incorporation Interest % Principal activity Global Crossing Airlines Holdings, Inc. Delaware, United States 100 % ownership by Global Crossing Airlines Group Inc Holding company Global Crossing Airlines, Inc Delaware, United States 100 % ownership by Global Crossing Airlines Holdings Inc US 121 Charter company GlobalX Travel Technologies, Inc Delaware, United States 80 % ownership by Global Crossing Airline Holdings Inc Acquire and develop travel technology UrbanX Air Mobility, Inc Delaware, United States 100 % ownership by Global Crossing Airlines Holdings Inc Air Charter operator Global Crossing Airlines Operations, LLC Florida, United States 100 % ownership by Global Crossing Airlines Inc Operating Company LatinX Air S.A.S. Ecuador 100 % ownership by Global Crossing Airlines Inc Air Charter operator GlobalX Air Tours, LLC Florida, United States 100 % ownership by Global Crossing Inc Air Charter service Charter Air Solutions, LLC Montana, United States 80 % ownership by the Global Crossing Airlines Holdings Inc. Charter Broker Investment in Top Flight: On September 18, 2023, the Company acquired 80 % of Charter Air Solutions, LLC ("Top Flight"). Top Flight was established on February 8, 2023 and had no significant transactions from the date of formation to the acquisition date. The balance sheet and operating activity of Top Flight are included in the Company's consolidated financial statements and we adjust the net income in our consolidated statement of operations to exclude the noncontrolling interests' proportionate share of results. We present the proportionate share of equity attributable to noncontrolling interests as equity within our Consolidated Balance Sheets. As of December 31, 2024, Top Flight figures did not materially impact the consolidated financial statements of the Company. Use of Estimates The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Cash and Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. The Company maintains cash balances at several financial institutions; at times, such balances may be in excess of insurance limits. The Company has not experienced any losses on these balances. Restricted Cash As of December 31, 2024 and 2023, restricted cash of $ 1.7 and $ 6.1 million, respectively, were being held by a financial institution as security for future flights. Accounts Receivable Accounts Receivable are recorded at the amount due from customers and do not bear interest. The Company determines its allowances for credit losses by considering a number of factors, including the length of time accounts receivable are past due, the Company’s previous loss history, the customer’s current ability to pay its obligation to the Company, and the condition of the general economy and the industry as a whole. During the years ended December 31, 2024 and 2023, the Company recorded $ 0.5 million and $ 6 thousand, respectively, of provision for allowance for credit losses. In addition, as of December 31, 2024 and 2023, the Company presented $ 0.6 million and $ 0.1 million, respectively, as allowance for credit losses net in Accounts Receivable on the Consolidated Balance Sheets. Assets held for sale Assets held for sale mostly consist of the purchased airframe parts from used Airbus 320 bearing manufacturer's serial number 2090 as completed on sales agreement entered on March 2, 2022. Assets held for sale are valued at the lower of the carrying amount or the net realizable value estimated at December 31, 2024. They were recorded at average cost and are expensed when sold, used or consumed. An allowance for obsolescence on aircraft airframe parts is recorded when impaired to reduce the carrying costs to lower of cost or net realizable value. The Company monitors resale values for its assets held for sale on a recurrent basis using various qualitative and quantitative matters including analysis of current sales, estimates obtained from outside vendors, physical counts, internal discussions, among others. As of December 31, 2024, the Company did not identify items that were obsolete and recorded a $ 0 allowance for obsolete items on the Consolidated Balance Sheet. Intangible Assets The Company entered in an agreement on September 21, 2023, to invest $ 0.5 million in the purchase 54,000 carbon offsets from Karbon-X to be paid monthly over 36 months from October 1, 2023, to September 1, 2026. Carbon offsetting involves compensating for carbon emissions by investing in projects that reduce or remove an equivalent amount of greenhouse gases from the atmosphere. This initiative aligns with the Company's goal to balance its carbon footprint and contribute to environmental sustainability through supporting various projects such as renewable energy initiatives and afforestation programs. The carbon offsets intangibles were initially measured at cost and carried at cost less any accumulated amortization. During the year ended December 31, 2024, in a shift of Company’s strategy, the Company decided to cancel the Karbon-X project, and thus the purchase of the remaining unpaid 36,000 carbon offsets. As a result, during the year ended December 31, 2024, the Company adjusted intangible asset cost and related liabilities for $ 0.3 million. No cost was incurred because of the cancellation of the carbon offsets. As of December 31, 2023, the Company had $ 0.4 million of intangible asset cost and accumulated amortization of $ 38 thousand, which is presented in the “Deposits and Other Assets” on the Consolidated Balance Sheet. Lessor Maintenance Deposits GlobalX’s aircraft lease agreements provide that GlobalX pay maintenance reserves monthly to aircraft lessors to be held as collateral in advance of major maintenance activities required to be performed by Global. Maintenance reserve payments are either fixed, or variable based on actual flight hours or cycles. These lease agreements provide that maintenance reserves are reimbursable to GlobalX upon completion of the maintenance event in an amount equal to the lesser of (1) the amount of the maintenance reserve held by the lessor associated with the specific maintenance event or (2) the qualifying costs related to the specific maintenance event. Maintenance reserve payments that are expected to be recoverable via reimbursable expenses will be reflected as Lessor Maintenance Deposits on the accompanying Consolidated Balance Sheets. As of December 31, 2024 and 2023, Lessor Maintenance Deposits totaled $ 2.1 million and $ 0.9 million, respectively, and are included in Prepaid expenses and other current assets and Other assets in the Consolidated Balance Sheets. Heavy Maintenance The Company accounts for heavy maintenance costs for airframes and engines using the deferral method. Under this method, expense recognition of scheduled heavy maintenance events is deferred and amortized over the estimated period until the next scheduled heavy maintenance event is required. During the year ended December 31, 2024, the Company incurred amortization expense of $ 1.1 million with respect to heavy maintenance costs and had $ 2.9 million in deferred maintenance costs as of December 31, 2024. During the year ended December 31, 2023, the Company incurred amortization expense of $ 0.8 million with respect to heavy maintenance costs and had $ 1.7 million in deferred maintenance costs as of December 31, 2023. Property & Equipment Property and equipment are recorded at cost at the Acquisition Date and depreciated on a straight-line basis to an estimated residual value over their estimated useful lives or lease term, whichever is shorter, as follows: Leasehold Improvements, Aircraft, other 1 - 10 years (or life of lease, if shorter) Office and Ground Equipment 5 years Computer Hardware and Software 3 - 5 years Property and Equipment under Finance Leases 5 - 30 years (or life of lease, if shorter) Rotable Parts Average remaining life of aircraft fleet, currently estimated to be 53 months Modifications that enhance the operating performance or extend the useful lives of leased airframes are considered leasehold improvements and are capitalized and depreciated over the economic life of the asset or the term of the lease, whichever is shorter. The components of property and equipment, net are as follows: December 31, 2024 2023 Rotable Parts $ 6,657 $ 3,069 Computer Hardware and Software 1,303 1,477 Leasehold Improvements, Aircraft, Other 2,880 972 Office and Ground Equipment 1,289 634 Less: Accumulated Depreciation ( 1,821 ) ( 627 ) Total Property and Equipment, Net $ 10,308 $ 5,525 During the years ended December 31, 2024 and 2023, depreciation of property and equipment was $ 1.8 million and $ 0.9 million, respectively. Equity Investments Investments in partnerships and less-than-majority owned subsidiaries in which the Company does not have control but has the ability to exercise significant influence over operating and financial policies, are accounted for using the equity method of accounting. The equity method investments are included in the accompanying Balance Sheets with Deferred Costs and Other Assets. The Company’s share of earnings or losses from these investments is shown in the accompanying Consolidated Statements of Operations in Other Expense. Equity method investments are initially recognized at cost. The carrying amount of the equity investment is adjusted at each reporting period by the percentage of any change in its equity corresponding to the Company’s percentage interest in these equity affiliates. The carrying costs of these investments are also increased or decreased to reflect additional contributions or withdrawals of capital. Any difference in the book equity and the Company’s pro-rata share of the net assets of the investment will be reported as gain or loss at the time of the liquidation of the investment. It is the Company’s policy to record losses in excess of the investment if the Company is committed to provide financial support to the investee. Evaluation of Long-Lived Assets Long-lived assets are evaluated whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or the useful life has changed. Such indicators include significant technological changes, adverse changes in market conditions and/or poor operating results. The carrying value of a long-lived asset group is considered impaired when the projected undiscounted future cash flows are less than its carrying value. The amount of impairment loss recognized is the difference between the estimated fair value and the carrying value of the asset or asset group. Fair value is determined using various valuation techniques including discounted cash flow models, quoted market values and third- party independent appraisals, as considered necessary. No impairment losses were recognized during the years ended December 31, 2024 and 2023. Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC Topic 718, “Compensation – Stock Compensation” (“ASC 718”) which establishes financial accounting and reporting standards for stock-based employee compensation. It defines a fair value-based method of accounting for an employee stock option or similar equity instrument. The Company recognizes all forms of share-based payments, including stock option grants, warrants and restricted stock grants, at their fair value on the grant date, which are based on the estimated number of awards that are ultimately expected to vest. Estimating fair value for granted stock options and compensatory warrants requires determining the most appropriate valuation model which is dependent on the terms and conditions of the grant. This estimate also requires determining the most appropriate inputs to the valuation model including the expected life of the option or warrant, volatility, dividend yield, and rate of forfeitures and making assumptions about them. Estimating fair value for granted restricted share units requires estimating the number of awards likely to vest on grant and at each reporting date up to the vesting date. The estimated forfeiture rate is adjusted for actual forfeitures in the period. Grants of share-based payment awards issued to non-employees for services rendered have been recorded at the fair value of the share-based payment. The grants are amortized on a straight-line basis over the requisite service periods, which is generally the vesting period. If an award is granted, but vesting does not occur, any previously recognized compensation cost is reversed in the period related to the termination of service. Stock-based compensation expenses are included in the Consolidated Statements of Operations. Income taxes The estimation of income taxes includes evaluating the recoverability of deferred tax assets and liabilities based on an assessment of the Company’s ability to utilize the underlying future tax deductions against future taxable income prior to expiry of those deductions. Management assesses whether it is probable that some or all of the deferred income tax assets and liabilities will not be realized. The ultimate realization of deferred tax assets and liabilities is dependent upon the generation of future taxable income. To the extent that management’s assessment of the Company’s ability to utilize future tax deductions changes, the Company would be required to recognize more or fewer deferred tax assets or liabilities, and deferred income tax provisions or recoveries could be affected. Leases Lease classification is evaluated by the Company at lease commencement and when significant amendments are executed. The Company's leases generally do not provide a readily determinable implicit rate; therefore, the Company estimates the incremental borrowing rate to discount lease payments based on information available at lease commencement. The lease term consists of the noncancellable period of the lease and periods covered by options to extend the lease if the Company is reasonably certain to exercise the option. For leases of 12 months or less, the Company expenses lease payments on a straight-line basis over the lease term. Operating Lease Right-of-Use Asset and Liabilities For all operating leases with a term greater than 12 months, the Company recognizes a right-of-use asset and a lease liability at the lease commencement date based on the estimated present value of future minimum lease payments, which includes certain lease and non-lease components, over the lease term. Operating Lease Right-of-use Assets and Operating Lease Obligations have their own lines on the Consolidated Balance Sheets. Finance Leases Finance leases are initially recorded at the net present value of future minimum lease payments, which includes certain lease and non-lease components. Finance leases generally have one of these five attributes: 1) ownership of the underlying asset transfers to the Company at the end of the lease term, 2) the lease agreement contains a purchase option that the Company is reasonably certain to exercise, 3) the lease term represents the major part of the asset’s economic life, 4) the present value of lease payments over the lease term equals or exceeds substantially all of the fair value of the asset, and 5) the underlying asset is so specialized in nature that it provides no alternative use to the lessor after the lease term. Finance Lease Assets are presented separately on the Consolidated Balance Sheets. The Company depreciates Finance Lease Assets consistent with its useful life policy presented in the property & equipment table above. Leased Aircraft Return Costs The Company's aircraft lease agreements often contain provisions that require the Company to return aircraft airframes, engines, and other aircraft components to the lessor in a certain condition or pay an amount to the lessor based on the airframe and engine's actual return condition. Lease return costs are recognized beginning when it is probable that such costs will be incurred, and they can be estimated. The Company assesses the need to accrue lease return costs periodically throughout the year or whenever facts and circumstances warrant an assessment. When costs become both probable and estimable, lease return costs are expensed as a component of Aircraft Rent expense on the Consolidated Statements of Operations. In addition, the Company leases office space under a month-to-month agreement. For leases with terms greater than 12 months, including renewal options when appropriate, we record the related right-of-use asset and lease liability as the present value of fixed lease payments over the lease term. Customer Deposits Customer Deposits represent money we receive from our customers as a security deposit for their contract. The money will either be returned to the customer at the end of the contract or used for payment of any unpaid invoices/debts the customer has during the contract term. Deferred Revenue Deferred Revenue represents revenue prepayments. Customers pay in advance of their flights and the funds are held as Deferred Revenue until the flight takes place. Charter customers typically pay a 10 % deposit upon signing a contract and the remainder 30 days before the flight. If the contract is signed less than 30 days from the date of the flight, the entire amount is collected upon signing. ACMI customers typically pay 1 week in advance other than the government contracts which pay approximately 2 weeks in arrears. Revenue Recognition The Company generates operating revenues by providing passenger aircraft outsourcing services to customers on a Charter and ACMI basis, in exchange for guaranteed minimum revenues at predetermined levels of operation for defined periods of time. The Company also generates other operating revenue from chargebacks related to charter costs including but not limited to fuel, airport fees, navigation fees, and ground handling. Furthermore, the Company also earns other operating revenue from cancellation of flights from customers. Our performance obligations under Charter contracts involve the provision of passenger aircraft charter services to customers, including various US Government agencies, brokers, freight forwarders, direct shippers, airlines, college sports teams and fans, and private charter customers. Our obligations are for one or more flights based on a specific origin and destination. The Company typically bears all direct operating costs for charters, which include fuel, insurance, landing and navigation fees, and most other operational fees and costs. The time interval between when an aircraft departs the terminal until it arrives at the destination terminal is measured in hours and called “Block Hours.” Revenue from Charter contracts is typically recognized over time as the services are performed based on Block Hours operated on behalf of a customer. Payment terms and conditions vary by charter contract, although the vast majority of contracts require payment in advance of the services being provided. Since advance payments are typically made shortly before the services are performed, such payments are not considered significant financing components. Our performance obligations under ACMI contracts involve outsourced passenger aircraft operating services, including the provision of an aircraft, crew, maintenance and insurance. ACMI contracts generally provide for the transfer of the benefits from these performance obligations on a combined basis through the operation of the aircraft over time. Customers assume fuel, demand and price risk. Generally, customers are also responsible for landing, navigation and most other operational fees and costs. When we act as an agent for costs reimbursed by customers, such reimbursed amounts are recorded as Operating Revenue, net of the related costs, when the costs are incurred. When we are responsible for any of these costs, such reimbursed amounts are recorded as Operating Revenue and the costs are recorded as Operating Expenses as incurred. Revenue from ACMI contracts is typically recognized over time as the services are performed based on Block Hours operated on behalf of a customer during a given month. Other operating revenue is typically recognized over time as the services aforementioned are provided to customers. Related to the cancellation fees, these are earned from customers and recognized in the period for which the operations were scheduled. Segment Reporting In accordance with FASB ASC Topic 280, Segment Reporting , the Company has determined that it conducts its business through one reportable and one operating segment by providing charter customized, non-scheduled passenger and cargo air transport services with narrow-body Airbus A320 and A321 family aircraft . The financial results of the Company’s operations are managed and reported to the President and Chief Financial Officer (CFO), who together are considered the Company’s chief operating decision maker (CODM), who review financial information presented on a consolidated basis, accompanied by disaggregated information about our revenue, for purposes of making operating decisions, assessing financial performance and allocating resources. Net income (loss) is our primary measure of profit or loss, as presented on our Consolidated Statements of Operations. The CODM is not provided asset information by reportable segment as asset information is provided to the CODM on a consolidated basis.

Equity Investments

Equity Investments	12 Months Ended
	Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]
Equity Investments	3. EQUITY INVESTMENTS Investment in Canada Jetlines Operations Ltd.: On June 28, 2021, the Company completed the spin-out pursuant to the Arrangement under which the Company transferred 75 % of shares of Jetlines to GlobalX shareholders. At that time, GlobalX retained 25 % of the shares issued and outstanding of Jetlines and accounts for the investment in accordance with the equity method. On September 11, 2024, Canada Jetlines Operations Ltd. filed an Assignment in Bankruptcy after finding that it would be unable to secure financing to continue with its Proposal under the Bankruptcy and Insolvency Act. BDO Canada Limited was assigned as Trustee of the bankrupt estate. Prior to bankruptcy, the Company held approximately 7 % ownership of Jetlines. As a result of the filing, Jetlines shares were deemed to be worthless with its outstanding shares cancelled in accordance with its Proposal under the Bankruptcy and Insolvency Act. The Company had provided a guarantee for one of their aircraft and as a result it settled a $ 1.3 million obligation with lessor of related aircraft during the year ended December 31, 2024, as recorded in current liabilities and non-operating expenses on the Company’s Consolidated Balance Sheet and Statement of Operations, respectively.

Deferred Financing Fees and Deb

Deferred Financing Fees and Debt Issuance Costs	12 Months Ended
	Dec. 31, 2024
Debt Issuance Costs, Net [Abstract]
Deferred Financing Fees and Debt Issuance Costs	4. DEFERRED FINANCING FEES AND DEBT ISSUANCE COSTS In relation to the Company’s Subscription Agreement pursuant to which the Company sold $ 6.0 million of its note (Note 12) the Company capitalized $ 2.2 million of debt issuance costs. These costs are initially capitalized on the consolidated balance sheet as debt issuance costs and amortized to interest expense using the effective interest method. In addition, the Company paid the $ 6.0 million of Note Payable plus accrued interest due for Subscription Agreement. As a result, the Company expensed the full outstanding amount capitalized as debt issuance costs of $ 0.9 million during the year ended December 31, 2023. On the new $ 35.0 million Subscription Agreement, the Company also capitalized $ 6.9 million of debt issuance costs. These costs are also initially capitalized on the Consolidated Balance Sheets as debt issuance costs, net of Note Payable and amortized to interest expense using the effective interest method. The Company amortized $ 0.6 million and $ 0.2 million of the related debt issuance costs during the years ended December 31, 2024 and 2023, respectively. In addition, as of December 31, 2024 and 2023, debt issuance costs totaled $ 6.0 million and $ 6.6 million, respectively, and are included in Note Payable, net of debt issuance costs in the Consolidated Balance Sheets.

Leases

Leases	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Leases	5. LEASES As of December 31, 2024, and 2023, the Company operated 18 and 14 leased aircraft, respectively, which are accounted for under operating lease agreements with ranging terms of 10 months to 10 years. Leases with an initial term of 12 months or less will be recognized in the Consolidated Statements of Operations on a straight-line basis over the lease term. These leases primarily relate to the Company’s lease agreements for the month-to-month agreement for office space and leases for office equipment. For operating leases with terms greater than 12 months, including renewal options when appropriate, we record the related right-of-use asset and lease liability as the present value of fixed lease payments over the lease term. In addition, the aircraft lease requires the Company to make maintenance reserve payments to cover the cost of major scheduled maintenance for the aircraft. These payments are generally variable as they are based on utilization of the aircraft, including the number of flight hours flown and/or flight departures, and are not included as minimal rental obligations. On October 14, 2021, the Company entered into a lease agreement for one Airbus A321 converted freighter. The ten-year lease term commenced on January 23, 2023 . Under the agreement, the Company will pay the lessor a fixed monthly rent for 120 months, plus supplemental rent for maintenance of the aircraft. On June 21, 2022, the Company entered into a lease agreement for one A321F cargo aircraft. The eight-year lease term commenced on August 1, 2023 . Under the agreement, the Company will pay the lessor a fixed monthly rent for 94 months, plus supplemental rent for maintenance of the aircraft. On December 14, 2022, the Company entered into a lease agreement for one A319 passenger aircraft. The two-year lease term commenced on August 18, 2023 . Under the agreement, the Company will pay the lessor a fixed monthly rent for 24 months, plus supplemental rent for maintenance of the aircraft. On January 27, 2023, the Company entered into a lease agreement for one A320 passenger aircraft. The six-year lease term commenced on April 21, 2023 . Under the agreement, the Company will pay the lessor a fixed monthly rent for 72 months, plus supplemental rent for maintenance of the aircraft. On May 22, 2023, the Company entered into a lease agreement for a commercial property warehouse. The five-year lease term commenced on June 1, 2023 . Under the agreement, the Company will pay the lessor variable monthly rents increasing once every year for 62 months, plus estimated expenses for insurance, utilities, taxes, management fees and other operating expenses. On June 16, 2023, the Company entered into a lease agreement for one A320 passenger aircraft. The four-year lease term commenced on November 13, 2023 . Under the agreement, the Company will pay the lessor a fixed monthly rent for 48 months, plus supplemental rent for maintenance of the aircraft. On August 8, 2023, the Company entered into a lease agreement for one A320 passenger aircraft. The three-year lease commenced on September 3, 2024 . Under the agreement, the Company will pay the lessor a fixed monthly rent for 36 months, plus supplemental rent for maintenance of the aircraft. On September 8, 2023, the Company entered into a lease agreement for one A321F cargo aircraft. The eight-year lease term commenced on October 6, 2023 . Under the agreement, the Company will pay the lessor a fixed monthly rent for 96 months, plus supplemental rent for maintenance of the aircraft. On November 17, 2023, the Company signed a lease agreement for one A321 passenger aircraft and paid commitment fees to the lessor. The lease will commence upon aircraft delivery which is expected to be in 2025 and will run through 24 months from delivery date. In addition to basic rent due, the Company will pay the lessor supplemental rent for maintenance of the aircraft. On November 20, 2023, the Company entered into a lease agreement for one A320 passenger aircraft. The seven-year lease term commenced on February 9, 2024 . Under the agreement, the Company will pay the lessor a fixed monthly rent for 86 months, plus supplemental rent for maintenance of the aircraft. On December 22, 2023, the Company entered into a lease agreement for one A321F cargo aircraft. The ten-year lease commenced on March 8, 2024 . Under the agreement, the Company will pay the lessor a fixed monthly rent for 120 months, plus supplemental rent for maintenance of the aircraft. On January 19, 2024, the Company entered into a lease agreement for one A320 passenger aircraft. The one-year lease commenced on July 9, 2024 . Under the agreement, the Company will pay the lessor a fixed monthly rent for 16 months, plus supplemental rent for maintenance of the aircraft. On April 16, 2024, the Company entered into a lease agreement for one A320 passenger aircraft. The six-year lease commenced on April 17, 2024 . Under the agreement, the Company will pay the lessor a fixed monthly rent for 72 months, plus supplemental rent for maintenance of the aircraft. The Company reviewed the operating leases for extension options that may be reasonably certain to be exercised and then would become part of the right-of-use assets and lease liabilities. On December 21, 2022, and October 10, 2023, the Company signed extensions for two aircraft extending their lease terms for an additional 60 and 15 months from original ending date of June 1, 2023 , and October 1, 2023 , to May 31, 2028 , and December 31, 2024 , respectively. In addition, on March 27, 2024 an additional extension was signed to extend aircraft lease term for an additional 74 months from previous extended ending date of December 31, 2024 to February 28, 2031 . Terms of extensions were agreed solely to grant the Company the right to use the asset for the related additional time including no changes in payment rent. As such, extension was accounted as a modification of lease in accordance with ASC 842 rather than as a new contract and the Company remeasured at modification date the following: Right-of-use asset, lease liability, discount rate, lease term and classification. In addition, as of March 31, 2024, the Company signed a lease agreement to convert one of its lease passenger aircraft with lease term ending on November 1, 2024, into an Aircraft Freighter at lessor's expense. The new lease is contingent on a successful conversion from induction date of November 1, 2024, and can take up to a year. Among terms agreed includes commitment fees paid to lessor and also no basic and supplemental rent shall be payable while the Aircraft undergoes conversion during the period commencing on the conversion induction date and ending on the conversion redelivery date. The Company expects to record a new lease on the acceptance of redelivery date, which is the date the lessee will have access to the leased asset. Furthermore, on August 1, 2024, the Company signed a new lease to extend one A320 passenger aircraft for a lease term of an additional 93 months from original ending date of November 15, 2023 . Terms of extension included contingencies on lessor of timely deliveries of repairs on engines and incremental increases in monthly basic rents throughout the lease. As such, extension was accounted as a new lease in accordance with ASC 842 from a new contract and the Company recorded at lease commencement date a new Right-of-use asset and lease liability. For the year ended December 31, 2024, we had 46 aircraft support equipment capitalized within our Consolidated Balance Sheet with useful lives between 1 and 30 years. All aircraft support equipment were financed through finance and operating leases with terms between 1 and 7 years. Related right-of-use assets and lease liabilities are recorded at the present value of fixed lease payments over the lease term. Amortization of the equipment under finance and operating leases is on a straight-line basis over the lease term and is included in Depreciation and amortization in our Consolidated Statement of Operations. Residual values for equipment are estimated to be from 0 % to 77 %. Some of our finance leases include optional renewal periods. Generally, we do not consider any additional renewal periods to be reasonably certain of being exercised, as the initial lease term of the related lease is for all or most of the useful life of the equipment and thus renewal periods are not included in the lease term, nor any related payments are reflected in the finance lease assets and finance lease liabilities. The following table presents lease costs related to the Company’s finance and operating leases in thousands: For The Year Ended December 31, 2024 2023 Finance lease cost Amortization of leased assets $ 3,238 $ 530 Interest of lease liabilities 3,043 435 Operating lease cost Operating lease cost (1) 25,517 8,173 Short-term lease cost (2) 1,516 1,316 Total lease cost 33,314 10,454 (1) Expenses are classified within Aircraft Rent on the Company's Consolidated Statements of Operations. (2) Expenses are classified within Other on the Company's Consolidated Statements of Operations. The Company uses the rate stated in the lease to discount lease payments to present value. In the event the leases do not provide a readily determinable implicit or stated rate, the Company estimates the incremental borrowing rate to discount lease payments based on information available initially at adoption and at lease commencement going forward, taking into consideration recent debt issuance as well as publicly available data for instruments with similar characteristics. The table below presents lease terms and discount rates related to the Company's finance and operating leases: December 31, 2024 December 31, 2023 Weighted-average remaining lease term Operating leases 5.92 years 6.14 years Finance leases 6.34 years 5.22 years Weighted-average discount rate Operating leases 13.96 % 13.03 % Finance leases 14.76 % 12.53 % The table below presents cash and non-cash activities associated with our leases in thousands: For The Year Ended December 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 14,430 $ 7,928 Operating cash flows from finance leases 3,043 435 Financing cash flows from finance leases 1,815 480 Future minimum lease payments under finance and operating lease liabilities in thousands with initial terms in excess of one year are as follows: Finance Leases Operating Leases 2025 7,337 27,835 2026 7,342 24,474 2027 7,163 22,016 2028 6,484 16,232 2029 6,217 13,820 2030 and thereafter 8,663 30,592 Total minimum lease payments 43,206 134,969 Less amount representing interest ( 14,590 ) ( 43,362 ) Present value of minimum lease payments 28,616 91,607 Less current portion ( 3,434 ) ( 16,479 ) Long-term portion $ 25,182 $ 75,128 We also lease office space and office equipment for our headquarters, airport facilities, and certain airport gate facilities and maintenance facilities on a month-to-month basis. Amounts for leases that are on a month-to-month basis are not included as an obligation in the table above.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	6. COMMITMENTS AND CONTINGENCIES The Company has contractual obligations and commitments primarily with regard to management and development services, lease arrangements, and financing arrangements. On January 4, 2024 , the Company entered into a premium finance agreement with a financial institution to finance a 12-month hull insurance policy for its aircraft. The Company financed $ 4.6 million of the total premium amount of $ 5.0 million at a rate of 6.88 % interest. The down payment of $ 0.6 million and the first monthly installment was paid at time of signing. On January 13, 2023 , the Company entered into a premium finance agreement with a financial institution to finance a 12-month hull insurance policy for its aircraft. The Company financed $ 3.6 million of the total premium amount of $ 4.1 million at a rate of 5.45 % interest. The down payment of $ 0.4 million was paid at time of signing. On August 11, 2023 Global Crossing Airlines in combination with Top Flight Charters and its minority interest member filed a lawsuit in the United States District Court Southern District of Florida against Shorts Travel Management, Inc (Shorts) and STM Charters, Inc. seeking (1) to have an old non-solicit agreement signed by Top Flight' minority interest member to be declared invalid, (2) a declaration that Shorts alleged trade secrets do not exist and (2) damages arising from the Shorts defamation per se based on numerous false statements made by Shorts in the marketplace. On October 4, 2023, Shorts responded in court by denying the claims made and countersued all parties for breach of contract and theft of trade secrets. This case was settled with no financial impact to GlobalX. The Company is subject to various legal proceedings in the normal course of business and records legal costs as incurred. Management believes these proceedings will not have a materially adverse effect on the Company.

Capital Commitments

Capital Commitments	12 Months Ended
	Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Capital Commitments	7. CAPITAL COMMITMENTS GEM Global Yield LLC SCS The Company entered into an agreement with GEM Global Yield LLC SCS ("GEM"), the private alternative investment group to provide the Company with up to CND $ 100.0 million over a 36-month term following the closing of the Transaction (the “Facility”). The initial CAD $ 100.0 million is in the form of a capital commitment that allows the Company to draw down funds during the 36-month term by issuing shares to GEM (or such persons as it may direct) and subject to share lending arrangement(s) being in place. The purchase price of the shares to be sold is set at (i) 90 % of the recent average daily closing price of the Company’s common stock on the TSX Venture Exchange or (ii) the floor price set by the company for each drawn down. The Company is not permitted to make a draw-down request in an amount that exceeds (i) 1000 % of the average daily trading volume of the Company’s stock for the 15 trading days preceding the draw-down date or (ii) 90 % of the closing price on the trading day immediately prior to the issue or the relevant draw down notice and then added to the aggregate purchase price of all the common shares subscribed for pursuant to all prior closings would not exceed the total facility. GEM may accept or reject such drawn down notice based on various conditions described in the agreement . On July 8, 2020 the TSX Venture Exchange provided approval for the Facility. The Company entered into a promissory note to pay GEM Yield Bahamas Limited a fee equal to two percent ( 2 %) of the aggregate purchase price, being $ 2.0 million CAD ($ 1.4 million USD). The fee is payable, whether or not any draw down notices have been delivered, as follows: the first 25% of the fee shall be paid within 12 months from the date of the agreement; an additional 25% of the fee shall be paid within 18 months from the date of the agreement and the rest of 50% of the fee shall be paid within 24 months from the date of this agreement. The note bears interest at 5 percent above the base rate of Barclays Bank PLC as per the promissory note. The note was recorded as a deferred finance cost on the consolidated balance sheet. In addition, on July 10, 2020, pursuant to the terms of the Facility, the Company issued 2,106,290 warrants to GEM exercisable at a price of CAD $ 0.50 per share until May 4, 2023. The initial fair value of the warrants was recorded as prepaid financing fee in the amount of $ 1.4 million. On June 28, 2021, GEM and the Company agreed to adjust the terms of the warrants. Under the adjustment agreement, the exercise price of the warrants was changed from CAD $ 0.50 per share to USD $ 0.39 per share. In addition, the number of warrants granted was adjusted due to the Arrangement Agreement (Note 1) under which the Company transferred 75 % of the shares of Jetlines to shareholders of the Company. Accordingly, the number of warrants was adjusted from 2,106,290 to 2,182,553 . The warrants were remeasured at the adjustment date using the Monte Carlo pricing model, assuming an expected life of 1.85 years, a risk-free interest rate of 0.22 %, an expected dividend rate of 0.00 %, stock price of $ 2.03 and an expected annual volatility coefficient of 74.7 %. On October 1, 2021, GEM Global Yield LLC SCS ("GEM"), filed initial pleadings in the Supreme Court of the State of New York, County of New York, claiming the Company breached the share subscription agreement between the parties by failing to pay a $ 0.5 million fee due on May 4, 2021. GEM requested repayment in full of the CAD $ 2.0 million promissory note issued by the Company to GEM plus accrued interest and costs and expenses related to collection. On January 18, 2023, the Court granted summary judgment in favor of GEM. On March 29, 2023, Global Crossing Airlines and GEM entered a final settlement which included a payment plan for the $ 2.0 million CAD free of interest and costs and expenses related to collection over nine months plus the extension of the agreement for 12 months. Upon final payment GEM agrees to file a satisfaction of judgment in County of New York, effectively settling this issue. GlobalX made payments due per final settlement and the Company had no outstanding balance as of December 31, 2023. In addition, the Company expensed the full outstanding amount capitalized as deferred financing costs of $ 2.8 million as of December 31, 2023. On March 4, 2024, Global Crossing Airlines and GEM decided to extend the length of the Facility by 12 months and the new expiration date is March 4, 2025.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	8. INCOME TAXES The Company’s effective tax rate for the years ended December 31, 2024 and 2023 was 0 %. The effective tax rate represents a blend of federal and state taxes and includes the impact of certain nondeductible items. The following table summarizes the significant components of the provision for income taxes from continuing operations: For the Year Ended December 31, 2024 For the Year Ended December 31, 2023 Federal: Current $ — $ — Deferred ( 2,126 ) ( 4,215 ) State: Current 2 30 Deferred ( 255 ) ( 690 ) Change in valuation allowance 2,381 4,877 Total income tax provision $ 2 $ 2 The income tax provision differs from that computed at the federal statutory corporate tax rate as follows: For the Year Ended For the Year Ended Expected provision at Federal statutory tax rate 21.00 % 21.00 % State tax expense, net of Federal benefit 2.17 % 3.17 % Change in valuation allowance ( 20.80 )% ( 23.35 )% Permanent difference ( 2.05 )% ( 0.73 )% Other ( 0.34 )% ( 0.24 )% Total ( 0.02 )% ( 0.15 )% The following table summarizes the significant components of the Company’s deferred taxes: For the Year Ended For the Year Ended Deferred tax assets (liabilities): Net operating loss $ 13,109 $ 12,090 Share based compensation 248 472 Disallowed interest 3,770 1,573 Allowance for doubtful accounts 141 23 Lease accounting 138 304 Unrealized Loss 14 14 Depreciation ( 1,501 ) ( 938 ) Total deferred tax assets (liabilities) $ 15,919 $ 13,538 Less valuation allowance ( 15,919 ) ( 13,538 ) Net deferred tax assets (liabilities) $ — $ — As of December 31, 2024 and 2023, the Company has net operating losses available for deduction against future taxable income of $ 54 million and $ 49 million, respectively. The net operating losses do not expire and may be carried forward indefinitely. The amount of state NOLs available equals the amount of federal NOLs. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all the deferred tax assets will not be realized. The ultimate realization of the deferred tax assets is dependent upon the generation of future taxable income during periods in which the temporary differences become deductible. Management considers the scheduled reversal of the liabilities (including the impact of available carryback and carryforward periods), projected future taxable income, and tax-planning strategies in making this assessment. It was concluded on a more-likely-than-not basis that the Company’s deferred tax assets were not realizable as of December 31, 2024. Accordingly, a valuation allowance of $ 15.9 million has been recorded to offset these deferred tax assets. The change in valuation allowance for the year ended December 31, 2024 from 2023 was an increase of $ 2.4 million. The Company recognizes the consolidated financial statement effect of a tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. If applicable, the Company reports both accrued interest and penalties related to unrecognized tax benefits as a component of Income Tax Expense in the Consolidated Statements of Operations. The Company files income tax returns in the United States and the States of Florida, California, Georgia, Indiana, Kentucky, New Jersey, New York, Texas, Virginia, North Carolina, Pennsylvania, and Tennessee. In the normal course of business, the Company is subject to potential income tax examination by the federal and state tax authorities in these jurisdictions for tax years that are open under local statute. For U.S. federal and state income tax purposes, the Company’s 2021, 2022 and 2023 tax returns remain open to examination.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	9. FAIR VALUE MEASUREMENTS Accounting standards define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The standards also establish a fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Under GAAP, there are three levels of inputs that may be used to measure fair value: Level 1 – Quoted prices for identical assets or liabilities in active markets. Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. As of December 31, 2024 and 2023, the Company's assets' and liabilities' carrying values approximate to their fair values.

Warrants

Warrants	12 Months Ended
	Dec. 31, 2024
Warrants and Rights Note Disclosure [Abstract]
Warrants	10. WARRANTS On August 2, 2023, the Company issued 10,000,000 warrants with $ 1.00 exercise price in connection with the financing arrangement entered into with Secured Notes. The warrants allow the holder to purchase common stock at an exercise price equal to $ 1.00 per share at any time on or after their issuance date and on or prior to June 30, 2030. At time of issuance, the Company determined that the warrants had a fair value of $ 4.3 million and required classification as equity. On December 21, 2023, the total warrants increased by 142,874 warrants with an exercise price of US$ 1.00 per warrant in connection with Secured Notes amendment as described on footnote 11. The additional warrants had an estimated fair value of approximately $ 8 thousand and they were classified as equity in the Consolidated Balance Sheets as of December 31, 2023 and 2024. The fair value of the warrants were measured using the Monte Carlo pricing model. Significant inputs into the model as of August 2, 2023 are as follows: Monte Carlo Assumptions August 2, 2023 Exercise price $ 1.00 Warrant expiration date June 30, 2030 Stock price $ 0.85 Interest rate (annual) (1) 4.21 % Volatility (annual) (2) 50.0 % Remaining term (years) 6.91 Annualized dividend yield (3) 0 %

Notes Payable

Notes Payable	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Notes Payable	11. NOTE PAYABLE On January 27, 2023, the Company announced an up to $ 5.0 million loan (the "Loan") with a key investor to provide working capital and additional liquidity to support GlobalX’s rapidly growing operations. The net proceeds of the Loan will be used to further the business objectives of the Company and to secure additional aircraft for charter operations. The terms of the promissory note (the "Note") issued in connection with Loan include: • a maturity date of 6 months from the date of issuance (the “Maturity Date”) and the principal amount of the Note, together with any • accrued and unpaid interest, will be payable on the Maturity Date; • the Note bears interest at the rate of 20 % per annum, accruing monthly and payable on the Maturity Date; • the principal amount of the Note will be advanced in two tranches of $ 2.5 million each. The first tranche was advanced within one business day and the second tranche will be advanced after the Company delivers a draw down notice, but subject to the lender receiving internal approval for the second tranche; and • the Note is unsecured, is not convertible and provides for no warrants. As of December 31, 2023, the Company received $ 2.5 million from the loan and this balance was paid off in connection with the new $ 35.0 million secured notes closed on August 2, 2023. In addition, proceeds from these notes were used to pay pre-existing Subscription Agreement of $ 6.0 million and the outstanding balance related to debt costs and discounts of approximately $ 945 thousand was written off. On August 2, 2023, the Company closed the placement of $ 35 million senior secure notes due 2029. The terms of the senior secure notes include: • a term of 6 years and maturity date of June 30, 2029 ; with no principal payments due until maturity date; • the notes bear interest at a fixed rate of 15 % per annum and include an upfront fee of 2 % of the principal payment; • the Company is permitted to prepay all (but not less than all) of the notes beginning on July 1, 2025 subject to a redemption premium of: (i) 7.5 % of the principal to be redeemed on or prior to August 2, 2026, (ii) 5.0 % of the principal to be redeemed after August 2, 2026, or on or prior to August 2, 2027, (iii) 2.5 % of the principal to be redeemed after August 2, 2027, or on or prior to August 2, 2028, (iv) 0 % of the principal to be redeemed after August 2, 2028; • the investors will be issued 10 million warrants, each exercisable into one share of Class A common stock at an exercise price of $ 1.00 per share, with such warrants expiring on June 30, 2030 ; • each of the Company's material subsidiaries will guarantee the notes; • the notes and the related guarantees will be secured by a lien on substantially all of the property and assets of the Company and the guarantors of the notes. • financial covenants requirements as follows: minimum adjusted EBITDA of (i) $ 5,000,000 for the fiscal year ended December 31, 2023, (ii) $ 15,000,000 for the fiscal year ended December 31, 2024 and (iii) $ 25,000,000 for the fiscal year ended December 31, 2025; • minimum liquidity of $ 5,000,000 measured at each quarter end; • collateral substantially of all the Company's assets. The Company determined that the terms of the warrants issued in the financing require the warrants to be classified as equity. Accordingly, upon issuance, the Company allocated and recorded debt issuance costs of $ 3.8 million related to warrants based on the relative fair value of the debt instrument along with a corresponding credit to additional paid in capital. As the warrants are classified as equity warrants the Company will not remeasure the warrants each accounting period. The debt issuance costs resulting from the warrants along with other direct costs of the financing will be amortized to interest expense using the effective interest method. See footnote 10 of the Company's consolidated financial statements for more details of warrants. On December 21, 2023, the Company, and the senior secure notes due 2029 purchasers amended the original placement of $ 35 million senior secure notes due 2029 for the sale of an additional $ 5 M senior secure notes due 2029 to original purchasers and the total warrants increased by 142,874 warrants with an exercise price of US$ 1.00 per warrant. The net proceeds from the sale of the additional notes will be used to repurchase $ 4.3 M principal amount of senior secure notes due 2029 from an original purchaser plus payment of accrued interest due of $ 251 thousand, with the balance expected to be used for general corporate purposes, including the transaction expenses and deposits to expand its current fleet of aircraft. No other substantial modification to the terms of the original $ 35 million senior secure notes due 2029 was made in the issuance of the additional notes. Notes Payable is comprised of the following: 2024 2023 Subscription Agreement $ 35,684 $ 35,684 Less unamortized debt issuance costs, noncurrent ( 5,955 ) ( 6,509 ) Total carrying amount 29,729 29,175 Less current maturities — — Total long-term Note Payable $ 29,729 $ 29,175

Share Capital and Additional Pa

Share Capital and Additional Paid in Capital Authorized	12 Months Ended
	Dec. 31, 2024
Share Capital And Additional Paid In Capital Authorized [Abstract]
Share Capital and Additional Paid in Capital Authorized	12. SHARE CAPITAL AND ADDITIONAL PAID-IN CAPITAL AUTHORIZED The Company has authorized share capital of 200,000,000 shares of common stock, par value $ 0.001 per share. On July 12, 2021 the Company completed a share capital reorganization creating a new class of shares, Class B non-voting shares. As of December 31, 2023, the Company had 40,420,350 common shares, 5,537,313 Class A common shares, and 12,968,208 Class B non-voting shares outstanding. As of December 31, 2024, the Company had 44,667,815 common shares, 5,537,313 Class A common shares, and 11,553,599 Class B non-voting shares outstanding. Share issuance During the year ended December 31, 2024: • The Company issued 2,080,648 common stock shares pursuant to 2,080,648 RSUs. • The Company issued 752,208 common stock shares for net proceeds of $ 386,770 pursuant to the Employees Stock Purchase plan. During the year ended December 31, 2023: • The Company issued 2,727,083 common shares for net proceeds of $ 1,358,113 pursuant to the exercise of 2,727,083 share purchase warrants. • The Company issued 1,803,992 common stock shares pursuant to 1,723,650 RSUs. • The Company issued 150,000 common stock shares for net proceeds of $ 68,182 pursuant to the exercise of stock options. • The Company issued 804,314 common stock shares for net proceeds of $ 446,564 pursuant to the Employees Stock Purchase plan. Share purchase warrants The following is a summary of share purchase warrants activities during the years ended December 31, 2024 and 2023: Number of Share Purchase Warrants Weighted Average Exercise Price Outstanding January 1, 2023 19,633,911 $ 1.18 Issued 10,142,874 1.00 Exercised ( 2,727,083 ) 0.48 Expired ( 4,530,808 ) 0.99 Outstanding December 31, 2023 22,518,894 $ 1.35 Issued — — Exercised — — Expired ( 4,786,130 ) 1.24 Outstanding December 31, 2024 17,732,764 $ 1.21 As of December 31, 2024, the following share purchase warrants were outstanding and exercisable: Outstanding Exercise Price Remaining life Expiry Date 7,537,313 USD$ 1.50 1.33 April 29, 2026 10,195,451 USD$ 1.00 5.50 Jun 30, 2030 17,732,764 As of December 31, 2023, the following share purchase warrants were outstanding and exercisable: Outstanding Exercise Price Remaining life Expiry Date 4,838,707 USD$ 1.24 0.24 March 28, 2024 7,537,313 USD$ 1.50 2.33 April 29, 2026 10,142,874 USD$ 1.00 6.50 June 30, 2030 22,518,894 Share-based payments The maximum number of Voting Shares issuable pursuant to share-based payment arrangements, including stock options, restricted share units and performance share units, is 9,400,000 . Stock options The Company grants stock options to directors, officers, employees and consultants as compensation for services, pursuant to its Amended Stock Option Plan (the “Stock Option Plan”). The maximum price shall not be less than the closing price of the Company’s shares on the last trading day preceding the date on which the grant of options is approved by the Board of Directors. Options have a maximum expiry period of ten years from the grant date. Vesting conditions are determined by the Board of Directors in its discretion with certain restrictions in accordance with the Stock Option Plan. The following is a summary of stock option activities for the years ended December 31, 2024 and 2023: Number of stock Weighted average Weighted average Outstanding January 1, 2023 820,668 $ 0.25 $ 0.48 Granted — — — Exercised ( 150,000 ) 0.48 0.16 Forfeited ( 200,000 ) 0.25 0.57 Outstanding December 31, 2023 470,668 $ 0.25 $ 0.54 Granted — — — Exercised — — — Forfeited ( 224,001 ) 0.31 0.46 Outstanding December 31, 2024 246,667 $ 0.25 $ 0.67 As of December 31, 2024, the following stock options were outstanding and exercisable: Outstanding Exercisable Exercise Price Remaining life (years) Expiry Date 246,667 246,667 $ 0.25 — June 23, 2025 246,667 246,667 As of December 31, 2023, the following stock options were outstanding and exercisable: Outstanding Exercisable Exercise Price Remaining life (years) Expiry Date 420,668 420,668 $ 0.25 1.48 June 23, 2025 50,000 50,000 $ 0.62 1.73 September 23, 2025 470,668 470,668 The Company recognizes share-based payments expense for all stock options granted using the fair value based method of accounting. The fair value of stock options is determined by the Black-Scholes Option Pricing Model with assumptions for risk-free interest rates, dividend yields, volatility factors of the expected market price of the Company’s shares, forfeiture rate, and expected life of the options. There were no stock options granted during the years ended December 31, 2024 and 2023. Restricted share units The Company grants restricted share units (“RSUs”) to directors, officers, employees and consultants as compensation for services, pursuant to its Amended RSU Plan (the “RSU Plan”). One restricted share unit has the same value as a Voting Share. The number of RSUs awarded and underlying vesting conditions are determined by the Board of Directors in its discretion. At the election of the Board of Directors, upon each vesting date, participants receive (a) the issuance of Voting Shares from treasury equal to the number of RSUs vesting, or (b) a cash payment equal to the number of vested RSUs multiplied by the fair market value of a Voting Share, calculated as the closing price of the Voting Shares on the CBOE CA for the trading day immediately preceding such payment date; or (c) a combination of (a) and (b). On the grant date of RSUs, the Company determines whether it has a present obligation to settle in cash. If the Company has a present obligation to settle in cash, the RSUs are accounted for as liabilities, with the fair value remeasured at the end of each reporting period and at the date of settlement, with any changes in fair value recognized in profit or loss for the period. The Company has a present obligation to settle in cash if the choice of settlement in shares has no commercial substance, or the Company has a past practice or a stated policy of settling in cash, or generally settles in cash whenever the counterpart asks for cash settlement. If no such obligation exists, RSUs are accounted for as equity settled share-based payments and are valued using the share price on grant date. Upon settlement: a. If the Company elects to settle in cash, the cash payment is accounted for as the repurchase of an equity interest (i.e. as a deduction from equity), except as noted in (c) below. b. If the Company elects to settle by issuing shares, the value of RSUs initially recognized in reserves is reclassified to capital, except as noted in (c) below. c. If the Company elects the settlement alternative with the higher fair value, As of the date of settlement, the Company recognizes an additional expense for the excess value given (i.e. the difference between the cash paid and the fair value of shares that would otherwise have been issued, or the difference between the fair value of the shares and the amount of cash that would otherwise have been paid, whichever is applicable). The following is a summary of RSU activities for the years ended December 31, 2024 and 2023: Number of RSUs Weighted average grant date fair value per RSU Outstanding January 1, 2023 3,305,837 $ 1.14 Granted 4,351,944 0.91 Vested ( 1,741,152 ) 0.87 Forfeited ( 860,361 ) 0.88 Outstanding December 31, 2023 5,056,268 $ 0.98 Granted 4,010,000 0.52 Vested ( 2,080,648 ) 1.01 Forfeited ( 1,612,247 ) 0.90 Outstanding December 31, 2024 5,373,373 $ 0.65 During the years ended December 31, 2024 and 2023, the Company recognized total share-based payments expense with respect to stock options, RSUs and employees' stock purchase plan of $ 1.7 million and $ 2.5 million, respectively. The remaining compensation that has not been recognized as of December 31, 2024 and 2023 with regards to RSUs and the weighted average period they will be recognized are $ 2.4 million and 1.99 years and $ 3.2 million and 2.02 years, respectively. Employee Stock Purchase Plan In September 2021, the Board adopted the GlobalX 2021 Employee Stock Purchase Plan (“ESPP”). There are 2 offering periods that the employees make contributions to the plan. The first offering period starts from May 16 th to October 31 st and the second offering period starts from November 1 st to May 15 th of each year . Eligible employees may purchase maximum of 10,000 of the Company's common stock per offering through payroll deductions at a price equal to 85 % of the lower of the fair market values of the stock as of the beginning or the end of six-month offering periods. An employee's payroll deductions under the ESPP are limited to 15 % of the employee's compensation and an employee may not purchase more than $ 25 thousand of stock during any calendar year in which the employee’s option to purchase stock under the ESPP is outstanding at any time. At the Annual Meeting of Stockholders of Global Crossing Airlines Group Inc. (the “Company”) held on November 22, 2024 (the “2024 Annual Meeting”) , the Company’s stockholders approved an amendment to the Company’s Employee Stock Purchase Plan (the “Plan”). The amendment was approved by Company’s Board of Directors, subject to the approval of Company’s stockholders, and became effective with such stockholder approval on November 22, 2024. As a result of such stockholder approval, the Plan was amended to increase the number of shares authorized for issuance under the Plan by 3,000,000 shares (from 1,000,000 shares to 4,000,000 shares). During 2024 and 2023, the Company issued 752,208 and 804,314 common shares issued under the ESPP and recorded Proceeds on issuance of shares of $ 0.3 million and $ 1.9 million, respectively. As of December 31, 2024 and 2023, total recognized equity-based compensation costs related to ESPP were approximately $ 0.1 million. ESPP payroll contributions accrued at December 31, 2024 and December 31, 2023 totaled $ 0.1 million, and are included within accrued expenses in the consolidated balance sheets. Employee payroll contributions used to purchase shares under the ESPP will be reclassified to stockholders' equity at the end of the offering period.

Loss Per Share

Loss Per Share	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Loss Per Share	13. LOSS PER SHARE Basic earnings (loss) per share, which excludes dilution, is computed by dividing Net income (loss) available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock. The number of incremental shares from the assumed issuance of shares relating to share based awards is calculated by applying the treasury stock method. The following table shows the computation of basic and diluted earnings per share in thousands, except share and per share amounts: Year Ended December 31, 2024 2023 Numerator: Net loss $ ( 11,472 ) $ ( 21,011 ) Denominator: Weighted average common shares outstanding - Basic 60,359,587 56,763,879 Dilutive effect of stock options, RSUs and warrants — — Weighted average common shares outstanding - Diluted 60,359,587 56,763,879 Basic loss per share $ ( 0.19 ) $ ( 0.37 ) Diluted loss per share (1) $ ( 0.19 ) $ ( 0.37 ) (1) There were 17,732,764 warrants, 246,667 options, and 5,373,373 RSUs outstanding at December 31, 2024 and there were 22,518,894 warrants, 470,668 options, and 5,056,270 RSUs outstanding at December 31, 2023. The Company excluded the warrants, options and RSUs from the calculation of diluted EPS for the years ended December 31, 2024 and 2023 as inclusion would have an anti-dilutive effect.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	14. RELATED PARTY TRANSACTIONS Related parties and related party transactions impacting the consolidated financial statements not disclosed elsewhere in these consolidated financial statements are summarized below and include transactions with the following individuals or entities. As mentioned in footnote 3, on June 28, 2021, the Company completed the spin-out of Jetlines to GlobalX. GlobalX continued to provide back-office support including sharing the costs of the Company’s aircraft fleet management software (TRAX). As of December 31, 2024 and 2023, amounts due to related parties include the following: 1. GlobalX earned $ 39 thousand in 2024 and it was owed $ 0 , respectively, in relation to flights flown and shared TRAX services with Jetlines, respectively. GlobalX earned $ 181 thousand in 2023 and it was owed $ 31 thousand in relation to flights flown and shared TRAX services with Jetlines, respectively; 2. Jetlines earned approximately $ 1.2 million in 2024 and it was owed $ 0 , respectively, in relation to flights flown by Jetlines for GlobalX. Jetlines earned approximately $ 0.9 million in 2023 and it was owed $ 0.1 million, respectively, in relation to flights flown by Jetlines for GlobalX. As described in footnote 4 above, on August 2 and December 21, 2023, the Company issued Secured Notes of $ 35.7 million with entity of which its executive remained elected as a member of the Board of Directors of the Company during the last annual shareholders meeting in December 2024.

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Accrued Liabilities	15. ACCRUED LIABILITIES Accrued liabilities consisted of the following as of December 31 in thousands: December 31, 2024 December 31, 2023 Salaries, wages and benefits $ 2,954 $ 2,899 Passenger Taxes 6,254 2,317 Aircraft fuel 993 1,435 Contracted ground and aviation services 1,025 2,200 Maintenance 954 1,081 Aircraft Rent 2,981 3,384 Other 5,257 4,149 Accrued liabilities $ 20,418 $ 17,465

Revenue Contract Liability

Revenue Contract Liability	12 Months Ended
	Dec. 31, 2024
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Revenue Contract Liability	16. REVENUE CONTRACT LIABILITY Deferred revenue for customer contracts represents amounts collected from, or invoiced to, customers in advance of revenue recognition. The balance of Deferred revenue will increase or decrease based on the timing of invoices and recognition of revenue. Significant changes in our Deferred Revenue liability balances during the year ended December 31, 2024 and 2023 in thousands were as follows: December 31, 2024 December 31, 2023 Beginning Balance $ 9,896 $ 3,201 Revenue Recognized ( 9,896 ) ( 3,201 ) Amounts Collected or Invoiced 8,903 9,896 Ending Balance $ 8,903 $ 9,896 The Company has 2 customers that accounted for approximately 40 % and 12 % of the revenue for the year ended on December 31, 2024 and approximately and 6 % and 8 % of the revenue for the year ended on December 31, 2023. The Company expects to maintain these relationships with those customers.

Risk Management and Financial I

Risk Management and Financial Instruments	12 Months Ended
	Dec. 31, 2024
Risks and Uncertainties [Abstract]
Risk Management and Financial Instruments	17. RISK MANAGEMENT AND FINANCIAL INSTRUMENTS The Company’s financial instruments are exposed to certain financial risks as detailed below. Credit risk Credit risk is the risk of an unexpected loss if a customer or third party to a financial instrument fails to meet its contractual obligations. The Company is subject to credit risk on its cash and cash equivalents. The Company limits its exposure to credit loss by placing its cash and cash equivalents with major financial institutions. As a result, the Company does not believe it is exposed to significant credit risk.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2024
Segment Reporting [Abstract]
Segment Information	18. SEGMENT INFORMATION The Company’s business activity is providing customized, non-scheduled air transport services to customers. Management structured business model to derive revenue from customers from two types of contracts: (1) ACMI and (2) Charter, as discussed in Management Discussion and Analysis of Financial Condition and Results of Operations. The Company’s President and Chief Financial Officer is the Chief Operating Decision Maker (“CODM”). The Company manages the business activities on a consolidated basis and operates in one reportable segment. The CODM assesses performance for the Company’s single operating segment and decides how to allocate resources based on net income or loss that is also reported on the Consolidated Statement of Operations. Net income is used to monitor actual versus budget results. Significant expenses within net income or loss, include operating expenses, which are each separately presented on the Company’s Consolidated Statements of Operations. Other segment items within net income or loss include Interest Expense, Loss in Canada Jetlines Operations Ltd. and Income tax expense. The measure of segment assets is reported on the Consolidated Balance Sheets as total consolidated assets.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	On April 29, 2024, the Company entered into a lease agreement for one A321F passenger aircraft. The lease commenced on January 31, 2025 , and will run through November 15, 2026. Following the expiration date, the aircraft is expected to undergo a passenger-to-freighter conversion and a second lease after completion which will run through an additional 102 months from redelivery date. In addition to basic rent due, the Company will pay the lessor supplemental rent for maintenance of the aircraft.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Basis of consolidation	Basis of consolidation The consolidated financial statements include the accounts of the Company, and the following subsidiaries. All intercompany transactions and balances have been eliminated on consolidation. Certain reclassification and format changes have been made to prior year amounts to conform to the 2024 presentation. Subsidiaries Name Place of incorporation Interest % Principal activity Global Crossing Airlines Holdings, Inc. Delaware, United States 100 % ownership by Global Crossing Airlines Group Inc Holding company Global Crossing Airlines, Inc Delaware, United States 100 % ownership by Global Crossing Airlines Holdings Inc US 121 Charter company GlobalX Travel Technologies, Inc Delaware, United States 80 % ownership by Global Crossing Airline Holdings Inc Acquire and develop travel technology UrbanX Air Mobility, Inc Delaware, United States 100 % ownership by Global Crossing Airlines Holdings Inc Air Charter operator Global Crossing Airlines Operations, LLC Florida, United States 100 % ownership by Global Crossing Airlines Inc Operating Company LatinX Air S.A.S. Ecuador 100 % ownership by Global Crossing Airlines Inc Air Charter operator GlobalX Air Tours, LLC Florida, United States 100 % ownership by Global Crossing Inc Air Charter service Charter Air Solutions, LLC Montana, United States 80 % ownership by the Global Crossing Airlines Holdings Inc. Charter Broker Investment in Top Flight: On September 18, 2023, the Company acquired 80 % of Charter Air Solutions, LLC ("Top Flight"). Top Flight was established on February 8, 2023 and had no significant transactions from the date of formation to the acquisition date. The balance sheet and operating activity of Top Flight are included in the Company's consolidated financial statements and we adjust the net income in our consolidated statement of operations to exclude the noncontrolling interests' proportionate share of results. We present the proportionate share of equity attributable to noncontrolling interests as equity within our Consolidated Balance Sheets. As of December 31, 2024, Top Flight figures did not materially impact the consolidated financial statements of the Company.
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
Cash and Equivalents	Cash and Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. The Company maintains cash balances at several financial institutions; at times, such balances may be in excess of insurance limits. The Company has not experienced any losses on these balances.
Restricted Cash	Restricted Cash As of December 31, 2024 and 2023, restricted cash of $ 1.7 and $ 6.1 million, respectively, were being held by a financial institution as security for future flights.
Accounts Receivable	Accounts Receivable Accounts Receivable are recorded at the amount due from customers and do not bear interest. The Company determines its allowances for credit losses by considering a number of factors, including the length of time accounts receivable are past due, the Company’s previous loss history, the customer’s current ability to pay its obligation to the Company, and the condition of the general economy and the industry as a whole. During the years ended December 31, 2024 and 2023, the Company recorded $ 0.5 million and $ 6 thousand, respectively, of provision for allowance for credit losses. In addition, as of December 31, 2024 and 2023, the Company presented $ 0.6 million and $ 0.1 million, respectively, as allowance for credit losses net in Accounts Receivable on the Consolidated Balance Sheets.
Assets Held for Sale	Assets held for sale Assets held for sale mostly consist of the purchased airframe parts from used Airbus 320 bearing manufacturer's serial number 2090 as completed on sales agreement entered on March 2, 2022. Assets held for sale are valued at the lower of the carrying amount or the net realizable value estimated at December 31, 2024. They were recorded at average cost and are expensed when sold, used or consumed. An allowance for obsolescence on aircraft airframe parts is recorded when impaired to reduce the carrying costs to lower of cost or net realizable value. The Company monitors resale values for its assets held for sale on a recurrent basis using various qualitative and quantitative matters including analysis of current sales, estimates obtained from outside vendors, physical counts, internal discussions, among others. As of December 31, 2024, the Company did not identify items that were obsolete and recorded a $ 0 allowance for obsolete items on the Consolidated Balance Sheet.
Intangible Assets	Intangible Assets The Company entered in an agreement on September 21, 2023, to invest $ 0.5 million in the purchase 54,000 carbon offsets from Karbon-X to be paid monthly over 36 months from October 1, 2023, to September 1, 2026. Carbon offsetting involves compensating for carbon emissions by investing in projects that reduce or remove an equivalent amount of greenhouse gases from the atmosphere. This initiative aligns with the Company's goal to balance its carbon footprint and contribute to environmental sustainability through supporting various projects such as renewable energy initiatives and afforestation programs. The carbon offsets intangibles were initially measured at cost and carried at cost less any accumulated amortization. During the year ended December 31, 2024, in a shift of Company’s strategy, the Company decided to cancel the Karbon-X project, and thus the purchase of the remaining unpaid 36,000 carbon offsets. As a result, during the year ended December 31, 2024, the Company adjusted intangible asset cost and related liabilities for $ 0.3 million. No cost was incurred because of the cancellation of the carbon offsets. As of December 31, 2023, the Company had $ 0.4 million of intangible asset cost and accumulated amortization of $ 38 thousand, which is presented in the “Deposits and Other Assets” on the Consolidated Balance Sheet.
Lessor Maintenance Deposits	Lessor Maintenance Deposits GlobalX’s aircraft lease agreements provide that GlobalX pay maintenance reserves monthly to aircraft lessors to be held as collateral in advance of major maintenance activities required to be performed by Global. Maintenance reserve payments are either fixed, or variable based on actual flight hours or cycles. These lease agreements provide that maintenance reserves are reimbursable to GlobalX upon completion of the maintenance event in an amount equal to the lesser of (1) the amount of the maintenance reserve held by the lessor associated with the specific maintenance event or (2) the qualifying costs related to the specific maintenance event. Maintenance reserve payments that are expected to be recoverable via reimbursable expenses will be reflected as Lessor Maintenance Deposits on the accompanying Consolidated Balance Sheets. As of December 31, 2024 and 2023, Lessor Maintenance Deposits totaled $ 2.1 million and $ 0.9 million, respectively, and are included in Prepaid expenses and other current assets and Other assets in the Consolidated Balance Sheets.
Heavy Maintenance	Heavy Maintenance The Company accounts for heavy maintenance costs for airframes and engines using the deferral method. Under this method, expense recognition of scheduled heavy maintenance events is deferred and amortized over the estimated period until the next scheduled heavy maintenance event is required. During the year ended December 31, 2024, the Company incurred amortization expense of $ 1.1 million with respect to heavy maintenance costs and had $ 2.9 million in deferred maintenance costs as of December 31, 2024. During the year ended December 31, 2023, the Company incurred amortization expense of $ 0.8 million with respect to heavy maintenance costs and had $ 1.7 million in deferred maintenance costs as of December 31, 2023.
Property & Equipment	Property & Equipment Property and equipment are recorded at cost at the Acquisition Date and depreciated on a straight-line basis to an estimated residual value over their estimated useful lives or lease term, whichever is shorter, as follows: Leasehold Improvements, Aircraft, other 1 - 10 years (or life of lease, if shorter) Office and Ground Equipment 5 years Computer Hardware and Software 3 - 5 years Property and Equipment under Finance Leases 5 - 30 years (or life of lease, if shorter) Rotable Parts Average remaining life of aircraft fleet, currently estimated to be 53 months Modifications that enhance the operating performance or extend the useful lives of leased airframes are considered leasehold improvements and are capitalized and depreciated over the economic life of the asset or the term of the lease, whichever is shorter. The components of property and equipment, net are as follows: December 31, 2024 2023 Rotable Parts $ 6,657 $ 3,069 Computer Hardware and Software 1,303 1,477 Leasehold Improvements, Aircraft, Other 2,880 972 Office and Ground Equipment 1,289 634 Less: Accumulated Depreciation ( 1,821 ) ( 627 ) Total Property and Equipment, Net $ 10,308 $ 5,525 During the years ended December 31, 2024 and 2023, depreciation of property and equipment was $ 1.8 million and $ 0.9 million, respectively.
Equity Investments	Equity Investments Investments in partnerships and less-than-majority owned subsidiaries in which the Company does not have control but has the ability to exercise significant influence over operating and financial policies, are accounted for using the equity method of accounting. The equity method investments are included in the accompanying Balance Sheets with Deferred Costs and Other Assets. The Company’s share of earnings or losses from these investments is shown in the accompanying Consolidated Statements of Operations in Other Expense. Equity method investments are initially recognized at cost. The carrying amount of the equity investment is adjusted at each reporting period by the percentage of any change in its equity corresponding to the Company’s percentage interest in these equity affiliates. The carrying costs of these investments are also increased or decreased to reflect additional contributions or withdrawals of capital. Any difference in the book equity and the Company’s pro-rata share of the net assets of the investment will be reported as gain or loss at the time of the liquidation of the investment. It is the Company’s policy to record losses in excess of the investment if the Company is committed to provide financial support to the investee.
Evaluation of Long-Lived Assets	Evaluation of Long-Lived Assets Long-lived assets are evaluated whenever events or changes in circumstances indicate that the carrying amount may not be recoverable or the useful life has changed. Such indicators include significant technological changes, adverse changes in market conditions and/or poor operating results. The carrying value of a long-lived asset group is considered impaired when the projected undiscounted future cash flows are less than its carrying value. The amount of impairment loss recognized is the difference between the estimated fair value and the carrying value of the asset or asset group. Fair value is determined using various valuation techniques including discounted cash flow models, quoted market values and third- party independent appraisals, as considered necessary. No impairment losses were recognized during the years ended December 31, 2024 and 2023.
Stock-Based Compensation	Stock-Based Compensation The Company accounts for stock-based compensation in accordance with ASC Topic 718, “Compensation – Stock Compensation” (“ASC 718”) which establishes financial accounting and reporting standards for stock-based employee compensation. It defines a fair value-based method of accounting for an employee stock option or similar equity instrument. The Company recognizes all forms of share-based payments, including stock option grants, warrants and restricted stock grants, at their fair value on the grant date, which are based on the estimated number of awards that are ultimately expected to vest. Estimating fair value for granted stock options and compensatory warrants requires determining the most appropriate valuation model which is dependent on the terms and conditions of the grant. This estimate also requires determining the most appropriate inputs to the valuation model including the expected life of the option or warrant, volatility, dividend yield, and rate of forfeitures and making assumptions about them. Estimating fair value for granted restricted share units requires estimating the number of awards likely to vest on grant and at each reporting date up to the vesting date. The estimated forfeiture rate is adjusted for actual forfeitures in the period. Grants of share-based payment awards issued to non-employees for services rendered have been recorded at the fair value of the share-based payment. The grants are amortized on a straight-line basis over the requisite service periods, which is generally the vesting period. If an award is granted, but vesting does not occur, any previously recognized compensation cost is reversed in the period related to the termination of service. Stock-based compensation expenses are included in the Consolidated Statements of Operations.
Income taxes	Income taxes The estimation of income taxes includes evaluating the recoverability of deferred tax assets and liabilities based on an assessment of the Company’s ability to utilize the underlying future tax deductions against future taxable income prior to expiry of those deductions. Management assesses whether it is probable that some or all of the deferred income tax assets and liabilities will not be realized. The ultimate realization of deferred tax assets and liabilities is dependent upon the generation of future taxable income. To the extent that management’s assessment of the Company’s ability to utilize future tax deductions changes, the Company would be required to recognize more or fewer deferred tax assets or liabilities, and deferred income tax provisions or recoveries could be affected.
Leases	Leases Lease classification is evaluated by the Company at lease commencement and when significant amendments are executed. The Company's leases generally do not provide a readily determinable implicit rate; therefore, the Company estimates the incremental borrowing rate to discount lease payments based on information available at lease commencement. The lease term consists of the noncancellable period of the lease and periods covered by options to extend the lease if the Company is reasonably certain to exercise the option. For leases of 12 months or less, the Company expenses lease payments on a straight-line basis over the lease term. Operating Lease Right-of-Use Asset and Liabilities For all operating leases with a term greater than 12 months, the Company recognizes a right-of-use asset and a lease liability at the lease commencement date based on the estimated present value of future minimum lease payments, which includes certain lease and non-lease components, over the lease term. Operating Lease Right-of-use Assets and Operating Lease Obligations have their own lines on the Consolidated Balance Sheets. Finance Leases Finance leases are initially recorded at the net present value of future minimum lease payments, which includes certain lease and non-lease components. Finance leases generally have one of these five attributes: 1) ownership of the underlying asset transfers to the Company at the end of the lease term, 2) the lease agreement contains a purchase option that the Company is reasonably certain to exercise, 3) the lease term represents the major part of the asset’s economic life, 4) the present value of lease payments over the lease term equals or exceeds substantially all of the fair value of the asset, and 5) the underlying asset is so specialized in nature that it provides no alternative use to the lessor after the lease term. Finance Lease Assets are presented separately on the Consolidated Balance Sheets. The Company depreciates Finance Lease Assets consistent with its useful life policy presented in the property & equipment table above. Leased Aircraft Return Costs The Company's aircraft lease agreements often contain provisions that require the Company to return aircraft airframes, engines, and other aircraft components to the lessor in a certain condition or pay an amount to the lessor based on the airframe and engine's actual return condition. Lease return costs are recognized beginning when it is probable that such costs will be incurred, and they can be estimated. The Company assesses the need to accrue lease return costs periodically throughout the year or whenever facts and circumstances warrant an assessment. When costs become both probable and estimable, lease return costs are expensed as a component of Aircraft Rent expense on the Consolidated Statements of Operations. In addition, the Company leases office space under a month-to-month agreement. For leases with terms greater than 12 months, including renewal options when appropriate, we record the related right-of-use asset and lease liability as the present value of fixed lease payments over the lease term.
Customer Deposits	Customer Deposits Customer Deposits represent money we receive from our customers as a security deposit for their contract. The money will either be returned to the customer at the end of the contract or used for payment of any unpaid invoices/debts the customer has during the contract term.
Deferred Revenue	Deferred Revenue Deferred Revenue represents revenue prepayments. Customers pay in advance of their flights and the funds are held as Deferred Revenue until the flight takes place. Charter customers typically pay a 10 % deposit upon signing a contract and the remainder 30 days before the flight. If the contract is signed less than 30 days from the date of the flight, the entire amount is collected upon signing. ACMI customers typically pay 1 week in advance other than the government contracts which pay approximately 2 weeks in arrears.
Revenue Recognition	Revenue Recognition The Company generates operating revenues by providing passenger aircraft outsourcing services to customers on a Charter and ACMI basis, in exchange for guaranteed minimum revenues at predetermined levels of operation for defined periods of time. The Company also generates other operating revenue from chargebacks related to charter costs including but not limited to fuel, airport fees, navigation fees, and ground handling. Furthermore, the Company also earns other operating revenue from cancellation of flights from customers. Our performance obligations under Charter contracts involve the provision of passenger aircraft charter services to customers, including various US Government agencies, brokers, freight forwarders, direct shippers, airlines, college sports teams and fans, and private charter customers. Our obligations are for one or more flights based on a specific origin and destination. The Company typically bears all direct operating costs for charters, which include fuel, insurance, landing and navigation fees, and most other operational fees and costs. The time interval between when an aircraft departs the terminal until it arrives at the destination terminal is measured in hours and called “Block Hours.” Revenue from Charter contracts is typically recognized over time as the services are performed based on Block Hours operated on behalf of a customer. Payment terms and conditions vary by charter contract, although the vast majority of contracts require payment in advance of the services being provided. Since advance payments are typically made shortly before the services are performed, such payments are not considered significant financing components. Our performance obligations under ACMI contracts involve outsourced passenger aircraft operating services, including the provision of an aircraft, crew, maintenance and insurance. ACMI contracts generally provide for the transfer of the benefits from these performance obligations on a combined basis through the operation of the aircraft over time. Customers assume fuel, demand and price risk. Generally, customers are also responsible for landing, navigation and most other operational fees and costs. When we act as an agent for costs reimbursed by customers, such reimbursed amounts are recorded as Operating Revenue, net of the related costs, when the costs are incurred. When we are responsible for any of these costs, such reimbursed amounts are recorded as Operating Revenue and the costs are recorded as Operating Expenses as incurred. Revenue from ACMI contracts is typically recognized over time as the services are performed based on Block Hours operated on behalf of a customer during a given month. Other operating revenue is typically recognized over time as the services aforementioned are provided to customers. Related to the cancellation fees, these are earned from customers and recognized in the period for which the operations were scheduled.
Segement Reporting	Segment Reporting In accordance with FASB ASC Topic 280, Segment Reporting , the Company has determined that it conducts its business through one reportable and one operating segment by providing charter customized, non-scheduled passenger and cargo air transport services with narrow-body Airbus A320 and A321 family aircraft . The financial results of the Company’s operations are managed and reported to the President and Chief Financial Officer (CFO), who together are considered the Company’s chief operating decision maker (CODM), who review financial information presented on a consolidated basis, accompanied by disaggregated information about our revenue, for purposes of making operating decisions, assessing financial performance and allocating resources. Net income (loss) is our primary measure of profit or loss, as presented on our Consolidated Statements of Operations. The CODM is not provided asset information by reportable segment as asset information is provided to the CODM on a consolidated basis.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2024
Accounting Policies [Abstract]
Details of Company's Subsidiaries	Subsidiaries Name Place of incorporation Interest % Principal activity Global Crossing Airlines Holdings, Inc. Delaware, United States 100 % ownership by Global Crossing Airlines Group Inc Holding company Global Crossing Airlines, Inc Delaware, United States 100 % ownership by Global Crossing Airlines Holdings Inc US 121 Charter company GlobalX Travel Technologies, Inc Delaware, United States 80 % ownership by Global Crossing Airline Holdings Inc Acquire and develop travel technology UrbanX Air Mobility, Inc Delaware, United States 100 % ownership by Global Crossing Airlines Holdings Inc Air Charter operator Global Crossing Airlines Operations, LLC Florida, United States 100 % ownership by Global Crossing Airlines Inc Operating Company LatinX Air S.A.S. Ecuador 100 % ownership by Global Crossing Airlines Inc Air Charter operator GlobalX Air Tours, LLC Florida, United States 100 % ownership by Global Crossing Inc Air Charter service Charter Air Solutions, LLC Montana, United States 80 % ownership by the Global Crossing Airlines Holdings Inc. Charter Broker
Schedule of Property And Equipment Depreciated On A Straight-line Basis To An Estimated Residual Value	Property and equipment are recorded at cost at the Acquisition Date and depreciated on a straight-line basis to an estimated residual value over their estimated useful lives or lease term, whichever is shorter, as follows: Leasehold Improvements, Aircraft, other 1 - 10 years (or life of lease, if shorter) Office and Ground Equipment 5 years Computer Hardware and Software 3 - 5 years Property and Equipment under Finance Leases 5 - 30 years (or life of lease, if shorter) Rotable Parts Average remaining life of aircraft fleet, currently estimated to be 53 months
Components of Property and Equipment, net	The components of property and equipment, net are as follows: December 31, 2024 2023 Rotable Parts $ 6,657 $ 3,069 Computer Hardware and Software 1,303 1,477 Leasehold Improvements, Aircraft, Other 2,880 972 Office and Ground Equipment 1,289 634 Less: Accumulated Depreciation ( 1,821 ) ( 627 ) Total Property and Equipment, Net $ 10,308 $ 5,525

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2024
Leases [Abstract]
Schedule of Lease Costs Related to Finance and Operating Leases	The following table presents lease costs related to the Company’s finance and operating leases in thousands: For The Year Ended December 31, 2024 2023 Finance lease cost Amortization of leased assets $ 3,238 $ 530 Interest of lease liabilities 3,043 435 Operating lease cost Operating lease cost (1) 25,517 8,173 Short-term lease cost (2) 1,516 1,316 Total lease cost 33,314 10,454 (1) Expenses are classified within Aircraft Rent on the Company's Consolidated Statements of Operations. (2) Expenses are classified within Other on the Company's Consolidated Statements of Operations.
Schedule of Lease Terms and Discount Rates Related to Finance and Operating Leases	The table below presents lease terms and discount rates related to the Company's finance and operating leases: December 31, 2024 December 31, 2023 Weighted-average remaining lease term Operating leases 5.92 years 6.14 years Finance leases 6.34 years 5.22 years Weighted-average discount rate Operating leases 13.96 % 13.03 % Finance leases 14.76 % 12.53 %
Schedule of Cash and Non-cash Activities Associated with Leases	The table below presents cash and non-cash activities associated with our leases in thousands: For The Year Ended December 31, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 14,430 $ 7,928 Operating cash flows from finance leases 3,043 435 Financing cash flows from finance leases 1,815 480
Summary of Future Minimum Lease Payments under Finance and Operating Lease Liabilities	Future minimum lease payments under finance and operating lease liabilities in thousands with initial terms in excess of one year are as follows: Finance Leases Operating Leases 2025 7,337 27,835 2026 7,342 24,474 2027 7,163 22,016 2028 6,484 16,232 2029 6,217 13,820 2030 and thereafter 8,663 30,592 Total minimum lease payments 43,206 134,969 Less amount representing interest ( 14,590 ) ( 43,362 ) Present value of minimum lease payments 28,616 91,607 Less current portion ( 3,434 ) ( 16,479 ) Long-term portion $ 25,182 $ 75,128

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Components of Provision for Income Taxes from Continuing Operations	The following table summarizes the significant components of the provision for income taxes from continuing operations: For the Year Ended December 31, 2024 For the Year Ended December 31, 2023 Federal: Current $ — $ — Deferred ( 2,126 ) ( 4,215 ) State: Current 2 30 Deferred ( 255 ) ( 690 ) Change in valuation allowance 2,381 4,877 Total income tax provision $ 2 $ 2
Schedule of Income Tax Provision Computed at Federal Statutory Corporate Tax Rate	The income tax provision differs from that computed at the federal statutory corporate tax rate as follows: For the Year Ended For the Year Ended Expected provision at Federal statutory tax rate 21.00 % 21.00 % State tax expense, net of Federal benefit 2.17 % 3.17 % Change in valuation allowance ( 20.80 )% ( 23.35 )% Permanent difference ( 2.05 )% ( 0.73 )% Other ( 0.34 )% ( 0.24 )% Total ( 0.02 )% ( 0.15 )%
Schedule of Deferred Tax Assets and Liabilities	The following table summarizes the significant components of the Company’s deferred taxes: For the Year Ended For the Year Ended Deferred tax assets (liabilities): Net operating loss $ 13,109 $ 12,090 Share based compensation 248 472 Disallowed interest 3,770 1,573 Allowance for doubtful accounts 141 23 Lease accounting 138 304 Unrealized Loss 14 14 Depreciation ( 1,501 ) ( 938 ) Total deferred tax assets (liabilities) $ 15,919 $ 13,538 Less valuation allowance ( 15,919 ) ( 13,538 ) Net deferred tax assets (liabilities) $ — $ —

Warrants (Tables)

Warrants (Tables)	12 Months Ended
	Dec. 31, 2024
Warrants and Rights Note Disclosure [Abstract]
Summary of Fair Value of Warrants	The fair value of the warrants were measured using the Monte Carlo pricing model. Significant inputs into the model as of August 2, 2023 are as follows: Monte Carlo Assumptions August 2, 2023 Exercise price $ 1.00 Warrant expiration date June 30, 2030 Stock price $ 0.85 Interest rate (annual) (1) 4.21 % Volatility (annual) (2) 50.0 % Remaining term (years) 6.91 Annualized dividend yield (3) 0 %

Notes Payable (Tables)

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2024
Debt Disclosure [Abstract]
Summary of Note Payable	Notes Payable is comprised of the following: 2024 2023 Subscription Agreement $ 35,684 $ 35,684 Less unamortized debt issuance costs, noncurrent ( 5,955 ) ( 6,509 ) Total carrying amount 29,729 29,175 Less current maturities — — Total long-term Note Payable $ 29,729 $ 29,175

Share Capital and Additional _2

Share Capital and Additional Paid in Capital Authorized (Tables)	12 Months Ended
	Dec. 31, 2024
Share Capital And Additional Paid In Capital Authorized [Abstract]
Summary of Warrant Activity	The following is a summary of share purchase warrants activities during the years ended December 31, 2024 and 2023: Number of Share Purchase Warrants Weighted Average Exercise Price Outstanding January 1, 2023 19,633,911 $ 1.18 Issued 10,142,874 1.00 Exercised ( 2,727,083 ) 0.48 Expired ( 4,530,808 ) 0.99 Outstanding December 31, 2023 22,518,894 $ 1.35 Issued — — Exercised — — Expired ( 4,786,130 ) 1.24 Outstanding December 31, 2024 17,732,764 $ 1.21
Schedule of Purchase Warrants Outstanding and Exercisable	As of December 31, 2024, the following share purchase warrants were outstanding and exercisable: Outstanding Exercise Price Remaining life Expiry Date 7,537,313 USD$ 1.50 1.33 April 29, 2026 10,195,451 USD$ 1.00 5.50 Jun 30, 2030 17,732,764 As of December 31, 2023, the following share purchase warrants were outstanding and exercisable: Outstanding Exercise Price Remaining life Expiry Date 4,838,707 USD$ 1.24 0.24 March 28, 2024 7,537,313 USD$ 1.50 2.33 April 29, 2026 10,142,874 USD$ 1.00 6.50 June 30, 2030 22,518,894
Summary of Stock Option Activities	The following is a summary of stock option activities for the years ended December 31, 2024 and 2023: Number of stock Weighted average Weighted average Outstanding January 1, 2023 820,668 $ 0.25 $ 0.48 Granted — — — Exercised ( 150,000 ) 0.48 0.16 Forfeited ( 200,000 ) 0.25 0.57 Outstanding December 31, 2023 470,668 $ 0.25 $ 0.54 Granted — — — Exercised — — — Forfeited ( 224,001 ) 0.31 0.46 Outstanding December 31, 2024 246,667 $ 0.25 $ 0.67
Summary of Stock Options Outstanding and Exercisable	As of December 31, 2024, the following stock options were outstanding and exercisable: Outstanding Exercisable Exercise Price Remaining life (years) Expiry Date 246,667 246,667 $ 0.25 — June 23, 2025 246,667 246,667 As of December 31, 2023, the following stock options were outstanding and exercisable: Outstanding Exercisable Exercise Price Remaining life (years) Expiry Date 420,668 420,668 $ 0.25 1.48 June 23, 2025 50,000 50,000 $ 0.62 1.73 September 23, 2025 470,668 470,668
Summary of RSU Activities	The following is a summary of RSU activities for the years ended December 31, 2024 and 2023: Number of RSUs Weighted average grant date fair value per RSU Outstanding January 1, 2023 3,305,837 $ 1.14 Granted 4,351,944 0.91 Vested ( 1,741,152 ) 0.87 Forfeited ( 860,361 ) 0.88 Outstanding December 31, 2023 5,056,268 $ 0.98 Granted 4,010,000 0.52 Vested ( 2,080,648 ) 1.01 Forfeited ( 1,612,247 ) 0.90 Outstanding December 31, 2024 5,373,373 $ 0.65

Loss Per Share (Tables)

Loss Per Share (Tables)	12 Months Ended
	Dec. 31, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table shows the computation of basic and diluted earnings per share in thousands, except share and per share amounts: Year Ended December 31, 2024 2023 Numerator: Net loss $ ( 11,472 ) $ ( 21,011 ) Denominator: Weighted average common shares outstanding - Basic 60,359,587 56,763,879 Dilutive effect of stock options, RSUs and warrants — — Weighted average common shares outstanding - Diluted 60,359,587 56,763,879 Basic loss per share $ ( 0.19 ) $ ( 0.37 ) Diluted loss per share (1) $ ( 0.19 ) $ ( 0.37 ) (1) There were 17,732,764 warrants, 246,667 options, and 5,373,373 RSUs outstanding at December 31, 2024 and there were 22,518,894 warrants, 470,668 options, and 5,056,270 RSUs outstanding at December 31, 2023. The Company excluded the warrants, options and RSUs from the calculation of diluted EPS for the years ended December 31, 2024 and 2023 as inclusion would have an anti-dilutive effect.

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following as of December 31 in thousands: December 31, 2024 December 31, 2023 Salaries, wages and benefits $ 2,954 $ 2,899 Passenger Taxes 6,254 2,317 Aircraft fuel 993 1,435 Contracted ground and aviation services 1,025 2,200 Maintenance 954 1,081 Aircraft Rent 2,981 3,384 Other 5,257 4,149 Accrued liabilities $ 20,418 $ 17,465

Revenue Contract Liability (Tab

Revenue Contract Liability (Tables)	12 Months Ended
	Dec. 31, 2024
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Summary of Significant Changes in Deferred Revenue Liability Balances	Significant changes in our Deferred Revenue liability balances during the year ended December 31, 2024 and 2023 in thousands were as follows: December 31, 2024 December 31, 2023 Beginning Balance $ 9,896 $ 3,201 Revenue Recognized ( 9,896 ) ( 3,201 ) Amounts Collected or Invoiced 8,903 9,896 Ending Balance $ 8,903 $ 9,896

Nature of Operations and Goin_2

Nature of Operations and Going Concern - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Working capital deficit	$ 42,500
Retained deficit	$ (70,566)	$ (59,094)

Basis Of Presentation And Sum_4

Basis Of Presentation And Summary Of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) Segment CarbonOffsets	Dec. 31, 2023 USD ($)	Sep. 21, 2023 USD ($) CarbonOffsets	Sep. 18, 2023
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Restricted cash	$ 1,700,000	$ 6,100,000
Provision for allowance for credit losses	500,000	6,000
Allowance for credit losses	600,000	100,000
Allowance for obsolete items	$ 0
Number of carbon offsets | CarbonOffsets			54,000
Number of remaining unpaid carbon offsets | CarbonOffsets	36,000
Useful life			36 months
Intangible asset cost	$ 0	400,000	$ 500,000
Accumulated amortization	300,000	38,000
Amortization expense	2,900,000	800,000
Deferred maintenance costs	1,100,000	1,700,000
Property and equipment depreciation	1,800,000	900,000
Impairment losses	$ 0	0
Percentage of deposit by charter customers upon signing contract	10%
Number of operating segments | Segment	1
Number of reportable segments | Segment	1
Charter Air Solutions, LLC (Top Flight)
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Percentage of share acquired				80%
Prepaid Expenses and Other Current Assets [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Lessor Maintenance Deposits		$ 900,000
Deferred Costs and Other Assets [Member]
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Lessor Maintenance Deposits	$ 2,100,000

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies - Details of Company's Subsidiaries (Details)	12 Months Ended
	Dec. 31, 2024
Global Crossing Airlines Holdings, Inc. | Delaware, United States
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Percentage of ownership interest in subsidiary by parent	100%
Global Crossing Airlines, Inc. | Delaware, United States
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Percentage of ownership interest in subsidiary by parent	100%
GlobalX Travel Technologies, Inc. | Delaware, United States
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Percentage of ownership interest in subsidiary by parent	80%
UrbanX Air Mobility, Inc. | Delaware, United States
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Percentage of ownership interest in subsidiary by parent	100%
Global Crossing Airlines Operations, LLC | Florida, United States
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Percentage of ownership interest in subsidiary by parent	100%
LatinX Air S.A.S. | Ecuador
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Percentage of ownership interest in subsidiary by parent	100%
GlobalX Air Tours, LLC | Florida, United States
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Percentage of ownership interest in subsidiary by parent	100%
Charter Air Solutions, LLC | Montana, United States
Basis of Presentation and Summary of Significant Accounting Policies [Line Items]
Percentage of ownership interest in subsidiary by parent	80%

Basis Of Presentation And Sum_6

Basis Of Presentation And Summary Of Significant Accounting Policies - Schedule of Property And Equipment Depreciated On A Straight-line Basis To An Estimated Residual Value (Details)	Dec. 31, 2024
Leasehold Improvements Aircraft Other | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	1 year
Leasehold Improvements Aircraft Other | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	10 years
Office and Ground Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Computer Hardware and Software | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Computer Hardware and Software | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Property And Equipment Under Finance Leases | Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Property And Equipment Under Finance Leases | Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	30 years
Rotable Parts
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	53 months

Basis Of Presentation And Sum_7

Basis Of Presentation And Summary Of Significant Accounting Policies - Components of Property and Equipment, net (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation	$ (1,821)	$ (627)
Total Property and equipment, net	10,308	5,525
Rotable Parts
Property, Plant and Equipment [Line Items]
Property and equipment, gross	6,657	3,069
Computer Hardware and Software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	1,303	1,477
Leasehold Improvements Aircraft Other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	2,880	972
Office and Ground Equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,289	$ 634

Equity Investments - Additional

Equity Investments - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Sep. 11, 2024	Jun. 28, 2021
Schedule of Equity Method Investments [Line Items]
Loss in Canada Jetlines Operations Ltd.	$ 1.3
Canada Jetlines Operations Ltd [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investment ownership percentage		7%
Percentage of shares transferred			75%
Percentage of shares retained			25%

Deferred Financing Fees and D_2

Deferred Financing Fees and Debt Issuance Costs - Additional Information (Details) - USD ($) $ in Millions	Mar. 17, 2022	Dec. 31, 2024	Dec. 31, 2023	Aug. 02, 2023
Deferred financing fees [Line Items]
Deferred financing costs and debt issuance costs		$ 6	$ 6.6
Subscription Agreement
Deferred financing fees [Line Items]
Deferred financing costs and debt issuance costs	$ 2.2		0.9	$ 6.9
Amortized debt issuance costs		$ 0.6	$ 0.2
Proceeds from issuance of securities	6
Notes payable and accrued interest	$ 6
Principal amount				$ 35

Leases - Additional Information

Leases - Additional Information (Details)

12 Months Ended

Aug. 01, 2024

Jul. 31, 2024

Apr. 16, 2024 Aircraft

Mar. 27, 2024

Jan. 19, 2024 Aircraft

Dec. 22, 2023 Aircraft

Nov. 20, 2023 Aircraft

Oct. 10, 2023 Aircraft

Oct. 09, 2023

Sep. 08, 2023 Aircraft

Aug. 08, 2023 Aircraft

Jun. 16, 2023 Aircraft

May 22, 2023

Jan. 27, 2023 Aircraft

Dec. 21, 2022 Aircraft

Dec. 20, 2022

Dec. 14, 2022 Aircraft

Jun. 21, 2022 Aircraft

Oct. 14, 2021 Aircraft

Dec. 31, 2024 Equipment Aircraft Lease

Dec. 31, 2023 Aircraft

Nov. 17, 2023 Aircraft

Lessee, Lease, Description [Line Items]

Number of aircraft leased

2

2

18

14

Lease description

Company operated 18 and 14 leased aircraft, respectively, which are accounted for under operating lease agreements with ranging terms of 10 months to 10 years. Leases with an initial term of 12 months or less will be recognized

Lease agreements ending date

Feb. 28, 2031

Dec. 31, 2024

Oct. 01, 2023

May 31, 2028

Jun. 01, 2023

Extended lease term

74 months

15 months

60 months

Number of aircraft lease converted | Lease

1

Aircraft Lease Agreement One

Lessee, Lease, Description [Line Items]

Number of aircraft leased

1

Lease term

8 years

lease term commenced

Aug. 01, 2023

Number of months fixed monthly rent to be paid

94 months

Aircraft Lease Agreement Two

Lessee, Lease, Description [Line Items]

Number of aircraft leased

1

Lease term

2 years

lease term commenced

Aug. 18, 2023

Number of months fixed monthly rent to be paid

24 months

Aircraft Lease Agreement Three

Lessee, Lease, Description [Line Items]

Number of aircraft leased

1

Lease term

6 years

lease term commenced

Apr. 21, 2023

Number of months fixed monthly rent to be paid

72 months

Aircraft Lease Agreement Four

Lessee, Lease, Description [Line Items]

Lease term

5 years

lease term commenced

Jun. 01, 2023

Number of months fixed monthly rent to be paid

62 months

Aircraft Lease Agreement Five

Lessee, Lease, Description [Line Items]

Number of aircraft leased

1

Lease term

4 years

lease term commenced

Nov. 13, 2023

Number of months fixed monthly rent to be paid

48 months

Aircraft Lease Agreement Six

Lessee, Lease, Description [Line Items]

Number of aircraft leased

1

Lease term

3 years

lease term commenced

Sep. 03, 2024

Number of months fixed monthly rent to be paid

36 months

Aircraft Lease Agreement Seven

Lessee, Lease, Description [Line Items]

Number of aircraft leased

1

Lease term

8 years

lease term commenced

Oct. 06, 2023

Number of months fixed monthly rent to be paid

96 months

Aircraft Lease Agreement Eight

Lessee, Lease, Description [Line Items]

Number of aircraft leased

1

Lease term

24 months

Aircraft Lease Agreement Nine

Lessee, Lease, Description [Line Items]

Number of aircraft leased

1

Lease term

7 years

lease term commenced

Feb. 09, 2024

Number of months fixed monthly rent to be paid

86 months

Aircraft Lease Agreement Ten

Lessee, Lease, Description [Line Items]

Number of aircraft leased

1

Lease term

10 years

lease term commenced

Mar. 08, 2024

Number of months fixed monthly rent to be paid

120 months

Aircraft Lease Agreement Eleven

Lessee, Lease, Description [Line Items]

Number of aircraft leased

1

Lease term

1 year

lease term commenced

Jul. 09, 2024

Number of months fixed monthly rent to be paid

16 months

Aircraft Lease Agreement Twelve

Lessee, Lease, Description [Line Items]

Number of aircraft leased

1

Lease term

6 years

lease term commenced

Apr. 17, 2024

Number of months fixed monthly rent to be paid

72 months

Minimum

Lessee, Lease, Description [Line Items]

Lease term

10 months

Maximum

Lessee, Lease, Description [Line Items]

Lease term

10 years

Aircraft Support Equipment

Lessee, Lease, Description [Line Items]

Number of equipment | Equipment

46

Aircraft Support Equipment | Minimum

Lessee, Lease, Description [Line Items]

Aircraft support equipment useful life

1 year

Finance lease agreement terms

1 year

Percentage of residual values for equipment

0%

Aircraft Support Equipment | Maximum

Lessee, Lease, Description [Line Items]

Aircraft support equipment useful life

30 years

Finance lease agreement terms

7 years

Percentage of residual values for equipment

77%

Airbus A321 Converted Freighter

Lessee, Lease, Description [Line Items]

Number of aircraft leased

1

Lease term

10 years

lease term commenced

Jan. 23, 2023

Number of months fixed monthly rent to be paid

120 months

A320 Passenger Aircraft

Lessee, Lease, Description [Line Items]

Lease agreements ending date

Nov. 15, 2023

Extended lease term

93 months

Leases - Schedule of Lease Cost

Leases - Schedule of Lease Costs Related to Finance and Operating Leases (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Finance lease cost
Amortization of leased assets		$ 3,238	$ 530
Interest of lease liabilities		3,043	435
Operating lease cost
Operating lease cost	[1]	25,517	8,173
Short-term lease cost	[2]	1,516	1,316
Total lease cost		$ 33,314	$ 10,454
[1] Expenses are classified within Aircraft Rent on the Company's Consolidated Statements of Operations. Expenses are classified within Other on the Company's Consolidated Statements of Operations.

Leases - Summary of Lease Terms

Leases - Summary of Lease Terms and Discount Rates Related to Finance and Operating Leases (Details)	Dec. 31, 2024	Dec. 31, 2023
Weighted-average remaining lease term
Operating leases	5 years 11 months 1 day	6 years 1 month 20 days
Finance leases	6 years 4 months 2 days	5 years 2 months 19 days
Weighted-average discount rate
Operating leases	13.96%	13.03%
Finance leases	14.76%	12.53%

Leases - Schedule of Cash and N

Leases - Schedule of Cash and Non-cash Activities Associated with Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 14,430	$ 7,928
Operating cash flows from finance leases	3,043	435
Financing cash flows from finance leases	$ 1,815	$ 480

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Lease Payments under Finance and Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Finance Leases
2025	$ 7,337
2026	7,342
2027	7,163
2028	6,484
2029	6,217
2030 and thereafter	8,663
Total minimum lease payments	43,206
Less amount representing interest	(14,590)
Present value of minimum lease payments	28,616
Less current portion	(3,434)	$ (599)
Long-term portion	25,182	3,292
Operating Leases
2025	27,835
2026	24,474
2027	22,016
2028	16,232
2029	13,820
2030 and thereafter	30,592
Total minimum lease payments	134,969
Less amount representing interest	(43,362)
Present value of minimum lease payments	91,607
Less current portion	(16,479)	(13,650)
Long-term portion	$ 75,128	$ 65,158

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	Jan. 04, 2024	Jan. 13, 2023
Commitments and Contingencies Disclosure [Abstract]
Date of premium finance agreement	2024	2023
Term of insurance policy	12-month	12-month
Financed amount of premium	$ 4.6	$ 3.6
Total premium amount	$ 5	$ 4.1
Rate of interest	6.88%	5.45%
Down payment	$ 0.6	$ 0.4

Capital Commitments - Additiona

Capital Commitments - Additional Information (Details) $ / shares in Units, $ / shares in Units, $ in Millions

12 Months Ended

Jun. 28, 2021 $ / shares shares

May 04, 2021 USD ($)

May 04, 2021 CAD ($)

Dec. 31, 2024 USD ($) $ / shares shares

Dec. 31, 2024 CAD ($)

Dec. 31, 2024 CAD ($) shares

Dec. 31, 2023 USD ($) $ / shares shares

Dec. 21, 2023 $ / shares

Aug. 02, 2023 $ / shares

Mar. 29, 2023 CAD ($)

Dec. 31, 2022 $ / shares shares

Jul. 10, 2020 USD ($) shares

Jul. 10, 2020 $ / shares

Other Commitments [Line Items]

Warrants issued | shares

17,732,764

17,732,764

22,518,894

19,633,911

Exercise Price | $ / shares

$ 1.21

$ 1.35

$ 1

$ 1

$ 1.18

Deferred financing costs

$ 6

$ 6.6

Risk Free Interest Rate

Other Commitments [Line Items]

Warrants, measurement input

0.0421

Expected Dividend Rate

Other Commitments [Line Items]

Warrants, measurement input

0

Volatility

Other Commitments [Line Items]

Warrants, measurement input

0.50

GEM Global Yield LLC SCS [Member]

Other Commitments [Line Items]

Capital commitments, initial

$ 100,000,000

Capital commitments, closing of transaction term

36 months

36 months

Draw down funds, issuing shares, term

36 months

36 months

Capital commitments, description

The initial CAD $100.0 million is in the form of a capital commitment that allows the Company to draw down funds during the 36-month term by issuing shares to GEM (or such persons as it may direct) and subject to share lending arrangement(s) being in place. The purchase price of the shares to be sold is set at (i) 90% of the recent average daily closing price of the Company’s common stock on the TSX Venture Exchange or (ii) the floor price set by the company for each drawn down. The Company is not permitted to make a draw-down request in an amount that exceeds (i)1000% of the average daily trading volume of the Company’s stock for the 15 trading days preceding the draw-down date or (ii) 90% of the closing price on the trading day immediately prior to the issue or the relevant draw down notice and then added to the aggregate purchase price of all the common shares subscribed for pursuant to all prior closings would not exceed the total facility. GEM may accept or reject such drawn down notice based on various conditions described in the agreement. On July 8, 2020 the TSX Venture Exchange provided approval for the Facility.

The initial CAD $100.0 million is in the form of a capital commitment that allows the Company to draw down funds during the 36-month term by issuing shares to GEM (or such persons as it may direct) and subject to share lending arrangement(s) being in place. The purchase price of the shares to be sold is set at (i) 90% of the recent average daily closing price of the Company’s common stock on the TSX Venture Exchange or (ii) the floor price set by the company for each drawn down. The Company is not permitted to make a draw-down request in an amount that exceeds (i)1000% of the average daily trading volume of the Company’s stock for the 15 trading days preceding the draw-down date or (ii) 90% of the closing price on the trading day immediately prior to the issue or the relevant draw down notice and then added to the aggregate purchase price of all the common shares subscribed for pursuant to all prior closings would not exceed the total facility. GEM may accept or reject such drawn down notice based on various conditions described in the agreement. On July 8, 2020 the TSX Venture Exchange provided approval for the Facility.

Common stock purchase price based on average daily closing price percentage

90%

90%

Drawn down request maximum percentage of average daily trading volume

1,000%

1,000%

Drawn down request closing price percentage on trading day prior to issue

90%

90%

Capital commitments, percentage of fee equal

2%

2%

Capital commitments, fee payable, description

The fee is payable, whether or not any draw down notices have been delivered, as follows: the first 25% of the fee shall be paid within 12 months from the date of the agreement; an additional 25% of the fee shall be paid within 18 months from the date of the agreement and the rest of 50% of the fee shall be paid within 24 months from the date of this agreement.

The fee is payable, whether or not any draw down notices have been delivered, as follows: the first 25% of the fee shall be paid within 12 months from the date of the agreement; an additional 25% of the fee shall be paid within 18 months from the date of the agreement and the rest of 50% of the fee shall be paid within 24 months from the date of this agreement.

Capital commitments, aggregate purchase price

$ 1.4

$ 2,000,000

Capital commitments, percentage of base rate

5%

5%

Warrants issued | shares

2,182,553

2,106,290

Exercise Price | (per share)

$ 0.39

$ 0.5

Prepaid financing fee

$ 1.4

Warrants, measurement input, term

1 year 10 months 6 days

Percentage of transfer of shares

75%

Sought value

$ 2

$ 500,000

Deferred financing costs

$ 2.8

Current portion of notes payable

$ 2,000,000

GEM Global Yield LLC SCS [Member] | Risk Free Interest Rate

Other Commitments [Line Items]

Warrants, measurement input

0.22

GEM Global Yield LLC SCS [Member] | Expected Dividend Rate

Other Commitments [Line Items]

Warrants, measurement input

0

GEM Global Yield LLC SCS [Member] | Stock Price

Other Commitments [Line Items]

Warrants, measurement input

2.03

GEM Global Yield LLC SCS [Member] | Volatility

Other Commitments [Line Items]

Warrants, measurement input

74.7

GEM Global Yield LLC SCS [Member] | Maximum

Other Commitments [Line Items]

Capital commitments

$ 100,000,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Contingency [Line Items]
Effective tax rate	(0.02%)	(0.15%)
Net operating loss carryforwards	$ 54,000	$ 49,000
Valuation allowance offset to deferred tax assets	15,919	13,538
Change in valuation allowance	$ 2,381	$ 4,877
U.S. Federal
Income Tax Contingency [Line Items]
Tax returns remain open to examination	2021 2022 2023
State
Income Tax Contingency [Line Items]
Tax returns remain open to examination	2021 2022 2023

Income Taxes - Components of Pr

Income Taxes - Components of Provision for Income Taxes from Continuing Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Federal:
Deferred	$ (2,126)	$ (4,215)
State:
Current	2	30
Deferred	(255)	(690)
Change in valuation allowance	2,381	4,877
Total income tax provision	$ 2	$ 2

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Tax Provision Computed at Federal Statutory Corporate Tax Rate (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Expected provision at Federal statutory tax rate	21%	21%
State tax expense, net of Federal benefit	2.17%	3.17%
Change in valuation allowance	(20.80%)	(23.35%)
Permanent difference	(2.05%)	(0.73%)
Other	(0.34%)	(0.24%)
Total	(0.02%)	(0.15%)

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets (liabilities):
Net operating loss	$ 13,109	$ 12,090
Share based compensation	248	472
Disallowed interest	3,770	1,573
Allowance for doubtful accounts	141	23
Lease accounting	138	304
Unrealized Loss	14	14
Depreciation	(1,501)	(938)
Total deferred tax assets (liabilities)	15,919	13,538
Less valuation allowance	(15,919)	(13,538)
Net deferred tax assets (liabilities)	$ 0	$ 0

Warrants - Additional Informati

Warrants - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Dec. 21, 2023	Aug. 02, 2023	Dec. 31, 2023	Dec. 31, 2024	Dec. 31, 2022
Class of Warrant or Right [Line Items]
Number of Share Purchase Warrants, Issued	142,874	10,000,000	10,142,874
Warrant exercise price	$ 1	$ 1	$ 1.35	$ 1.21	$ 1.18
Fair value		$ 4,300
Estimated fair value additional warrants issued			$ 8	$ 8

Warrants - Summary of Fair Valu

Warrants - Summary of Fair Value of Warrants (Details)	Aug. 02, 2023 $ / shares	Dec. 31, 2024 $ / shares	Dec. 31, 2023 $ / shares	Dec. 21, 2023 $ / shares	Dec. 31, 2022 $ / shares
Class of Warrant or Right [Line Items]
Exercise Price	$ 1	$ 1.21	$ 1.35	$ 1	$ 1.18
Warrant expiration date	Jun. 30, 2030
Stock price	$ 0.85
Remaining term (years)	6 years 10 months 28 days
Interest Rate (Annual)
Class of Warrant or Right [Line Items]
Warrants, measurement input	0.0421
Volatility (Annual)
Class of Warrant or Right [Line Items]
Warrants, measurement input	0.50
Annualized Dividend Yield
Class of Warrant or Right [Line Items]
Warrants, measurement input	0

Note Payable - Additional Infor

Note Payable - Additional Information (Details) - USD ($)	Dec. 21, 2023	Aug. 02, 2023	Jan. 27, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Mar. 17, 2022
Debt Instrument [Line Items]
Warrants issued				17,732,764	22,518,894	19,633,911
Warrant exercise price	$ 1	$ 1		$ 1.21	$ 1.35	$ 1.18
Debt issuance costs				$ 6,000,000	$ 6,600,000
Loan			$ 5,000,000		$ 2,500,000
Term of facility			6 months
Interest rate of loan			20%
Debt costs and discounts							$ 945,000
Tranche One
Debt Instrument [Line Items]
Loan			$ 2,500,000
Subscription Agreement
Debt Instrument [Line Items]
Principal amount			$ 6,000,000
Senior Secure Notes Due 2029
Debt Instrument [Line Items]
Line of Credit Periodic payment		$ 35,000,000
Warrants issued	142,874
Warrant exercise price	$ 1
Debt instrument term		6 years
Principal amount	$ 35,700,000	$ 35,000,000
Debt instrument maturity date		Jun. 30, 2029
Principal payments		$ 0
Debt instrument interest at fixed rate		15%
Upfront fees payment percentage		2%
Issuance of Warrants		$ 10,000,000
Minimum adjusted Ebitda for fiscal year ended December 31, 2023		5,000,000
Minimum adjusted Ebitda for fiscal year ended December 31, 2024		15,000,000
Minimum adjusted Ebitda for fiscal year ended December 31, 2025		25,000,000
Minimum liquidity of measured at each quarter end		$ 5,000,000
Notes amount partially pay-off	4,300,000
Total principal balance	35,000,000
Additional notes issued amount	5,000,000
Amount of accrued interest paid	$ 251,000
Senior Secure Notes Due 2029 | Class A
Debt Instrument [Line Items]
Number of common stock purchase warrant into which each warrant or right may be converted		1
Warrant exercise price		$ 1
Warrant expiration date		Jun. 30, 2030
Senior Secure Notes Due 2029 | Redeemed on or Prior to August 2, 2026
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed		7.50%
Senior Secure Notes Due 2029 | Redeemed after August 2, 2026 or on or Prior to August 2, 2027
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed		5%
Senior Secure Notes Due 2029 | Redeemed After August 2, 2027 or on or Prior to August 2, 2028
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed		2.50%
Senior Secure Notes Due 2029 | Redeemed After August 2, 2028
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed		0%
Warrant | Senior Secure Notes Due 2029
Debt Instrument [Line Items]
Debt issuance costs		$ 3,800,000

Note Payable - Summry Of Note P

Note Payable - Summry Of Note Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Less unamortized debt issuance costs, noncurrent	$ (5,955)	$ (6,509)
Total carrying amount	29,729	29,175
Total long-term Note Payable	29,729	29,175
Subscription Agreement
Debt Instrument [Line Items]
Notes payable	$ 35,684	$ 35,684

Share Capital and Additional _3

Share Capital and Additional Paid in Capital Authorized - Additional Information (Details)		1 Months Ended	12 Months Ended
	Nov. 22, 2024 shares	Sep. 30, 2021 USD ($) OfferingPeriod	Dec. 31, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Common stock shares authorized			200,000,000	200,000,000
Common stock par value | $ / shares			$ 0.001	$ 0.001
Voting common shares outstanding			44,667,815	40,420,350
Proceeds on issuance of shares | $			$ 329,000	$ 1,872,000
Purchase warrant excercised				2,727,083
Stock options granted			0	0
Maximum number of Voting Shares issuable pursuant to share-based payment arrangements			9,400,000
Share-based payments expense | $			$ 1,680,000	$ 2,465,000
Common Stock
Issuance of shares - ESPP, shares			752,208	804,314
Common Stock | Purchase Warrants
Shares issued during period				2,727,083
Proceeds on issuance of shares | $				$ 1,358,113
Purchase warrant excercised				2,727,083
Class A
Non-voting shares outstanding			5,537,313	5,537,313
Class B
Non-voting shares outstanding			11,553,599	12,968,208
Employee Stock Purchase Plan
Issuance of shares - ESPP, shares			752,208	804,314
Proceeds on issuance of shares | $			$ 386,770	$ 446,564
Proceeds on issuance of shares | $			$ 300,000	$ 1,900,000
Maximum number of Voting Shares issuable pursuant to share-based payment arrangements	4,000,000			1,000,000
Number of shares authorized to increase for issuance	3,000,000
Number of offering periods | OfferingPeriod		2
Purchase price of common stock, percent		85%
Percentage of employee's compensation for payroll deduction			15%
Equity-based compensation costs | $			$ 100,000	$ 100,000
Accrued payroll contribution | $			$ 100,000	$ 100,000
Employee Stock Purchase Plan | Maximum
Purchase price of common stock per offering | $		$ 10,000
Purchase price of common stock | $		$ 25,000
RSUs
Issuance of common stock			2,080,648	1,741,152
RSUs | Common Stock
Shares issued during period			2,080,648	1,803,992
Issuance of common stock			2,080,648	1,723,650
Stock Options
Share based compensation not yet recognized | $			$ 2,400,000	$ 3,200,000
Share based compensation not yet recognized, weighted average period			1 year 11 months 26 days	2 years 7 days
Options expiry period			10 years
Stock Options | Common Stock
Shares issued during period				150,000
Proceeds on issuance of shares | $				$ 68,182

Share Capital and Additional _4

Share Capital and Additional Paid in Capital Authorized - Summary of Warrant Activity (Details) - $ / shares			12 Months Ended
	Dec. 21, 2023	Aug. 02, 2023	Dec. 31, 2024	Dec. 31, 2023
Warrants and Rights Note Disclosure [Abstract]
Number of Share Purchase Warrants Outstanding, Beginning balance			22,518,894	19,633,911
Number of Share Purchase Warrants, Issued	142,874	10,000,000		10,142,874
Number of Share Purchase Warrants, Exercised				(2,727,083)
Number of Share Purchase Warrants, Expired			(4,786,130)	(4,530,808)
Number of Share Purchase Warrants Outstanding, Ending balance			17,732,764	22,518,894
Weighted Average Exercise Price Outstanding, Beginning balance			$ 1.35	$ 1.18
Weighted Average Exercise Price, Issued				1
Weighted Average Exercise Price, Exercised				0.48
Weighted Average Exercise Price, Expired			1.24	0.99
Weighted Average Exercise Price Outstanding, Ending balance	$ 1	$ 1	$ 1.21	$ 1.35

Share Capital and Additional _5

Share Capital and Additional Paid in Capital Authorized - Schedule of Share Purchase Warrants Outstanding and Exercisable (Details) - $ / shares		12 Months Ended
	Aug. 02, 2023	Dec. 31, 2024	Dec. 31, 2023	Dec. 21, 2023	Dec. 31, 2022
Class Of Warrant Or Right [Line Items]
Outstanding		17,732,764	22,518,894		19,633,911
Exercise Price	$ 1	$ 1.21	$ 1.35	$ 1	$ 1.18
Remaining term (years)	6 years 10 months 28 days
Expiry Date	Jun. 30, 2030
Exercise Price One
Class Of Warrant Or Right [Line Items]
Outstanding		7,537,313	4,838,707
Exercise Price		$ 1.5	$ 1.24
Remaining term (years)		1 year 3 months 29 days	2 months 26 days
Expiry Date		Apr. 29, 2026	Mar. 28, 2024
Exercise Price Two
Class Of Warrant Or Right [Line Items]
Outstanding		10,195,451	7,537,313
Exercise Price		$ 1	$ 1.5
Remaining term (years)		5 years 6 months	2 years 3 months 29 days
Expiry Date		Jun. 30, 2030	Apr. 29, 2026
Exercise Price Three
Class Of Warrant Or Right [Line Items]
Outstanding			10,142,874
Exercise Price			$ 1
Remaining term (years)			6 years 6 months
Expiry Date			Jun. 30, 2030

Share Capital and Additional _6

Share Capital and Additional Paid in Capital Authorized - Summary of Stock Option Activities (Details)	12 Months Ended
	Dec. 31, 2024 $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Share-Based Payment Arrangement [Abstract]
Number of stock options outstanding, Beginning balance | shares	470,668	820,668
Number of stock options, Granted | shares	0	0
Number of stock options, Exercised | shares		(150,000)
Number of stock options, Forfeited | shares	(224,001)	(200,000)
Number of stock options outstanding, Ending balance | shares	246,667	470,668
Weighted average exercise price outstanding, Beginning balance	$ 0.25	$ 0.25
Weighted average exercise price, Exercised		0.48
Weighted average exercise price, Forfeited	0.31	0.25
Weighted average exercise price outstanding, Ending balance	0.25	0.25
Weighted average grant date fair value outstanding, Beginning balance	0.54	$ 0.48
Weighted average grant date fair value, Exercised | $		0.16
Weighted average grant date fair value, Forfeited	0.46	$ 0.57
Weighted average grant date fair value outstanding, Ending balance	$ 0.67	$ 0.54

Share Capital and Additional _7

Share Capital and Additional Paid in Capital Authorized - Summary of Stock Options Outstanding and Exercisable (Details) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options, Outstanding	246,667	470,668
Stock options, Exercisable	246,667	470,668
Exercise Price One
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options, Outstanding	246,667	420,668
Stock options, Exercisable	246,667	420,668
Stock options outstanding, Exercise Price	$ 0.25	$ 0.25
Stock options outstanding, Remaining life (years)		1 year 5 months 23 days
Expiry Date	Jun. 23, 2025	Jun. 23, 2025
Exercise Price Two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock options, Outstanding		50,000
Stock options, Exercisable		50,000
Stock options outstanding, Exercise Price		$ 0.62
Stock options outstanding, Remaining life (years)		1 year 8 months 23 days
Expiry Date		Sep. 23, 2025

Share Capital and Additional _8

Share Capital and Additional Paid in Capital Authorized - Summary of RSU Activities (Details) - RSUs - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of RSUs Outstanding, Beginning balance	5,056,268	3,305,837
Number of RSUs, Granted	4,010,000	4,351,944
Number of RSUs, Vested	(2,080,648)	(1,741,152)
Number of RSUs, Forfeited	(1,612,247)	(860,361)
Number of RSUs Outstanding, Ending balance	5,373,373	5,056,268
Weighted average grant date fair value per RSU Outstanding, Beginning balance	$ 0.98	$ 1.14
Weighted average grant date fair value per RSU, Granted	0.52	0.91
Weighted average grant date fair value per RSU, Vested	1.01	0.87
Weighted average grant date fair value per RSU, Forfeited	0.9	0.88
Weighted average grant date fair value per RSU Outstanding, Ending balance	$ 0.65	$ 0.98

Loss Per Share - Schedule of Co

Loss Per Share - Schedule of Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023
Numerator:
Net loss		$ (11,472)	$ (21,011)
Denominator:
Weighted average common shares outstanding - Basic		60,359,587	56,763,879
Dilutive effect of stock options, RSUs and warrants		0	0
Weighted average common shares outstanding - Diluted		60,359,587	56,763,879
Basic loss per share		$ (0.19)	$ (0.37)
Diluted loss per share	[1]	$ (0.19)	$ (0.37)
[1] There were 17,732,764 warrants, 246,667 options, and 5,373,373 RSUs outstanding at December 31, 2024 and there were 22,518,894 warrants, 470,668 options, and 5,056,270 RSUs outstanding at December 31, 2023. The Company excluded the warrants, options and RSUs from the calculation of diluted EPS for the years ended December 31, 2024 and 2023 as inclusion would have an anti-dilutive effect.

Loss per share - Schedule of _2

Loss per share - Schedule of Computation of Basic and Diluted Earnings Per Share (Parenthetical) (Details) - shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Warrant
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares excluded from calculation of diluted EPS	17,732,764	22,518,894
Employee Stock Option
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares excluded from calculation of diluted EPS	246,667	470,668
RSUs
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Shares excluded from calculation of diluted EPS	5,373,373	5,056,270

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 21, 2023	Aug. 02, 2023
Canada Jetlines Operations Ltd.
Related Party Transaction [Line Items]
Other Liabilities	$ 0	$ 100,000
Senior Secure Notes Due 2029
Related Party Transaction [Line Items]
Principal amount			$ 35,700,000	$ 35,000,000
Flights Flown By Global
Related Party Transaction [Line Items]
Expense to related party	39,000	181,000
Other Liabilities	0	31,000
Flights Flown By Global | Canada Jetlines Operations Ltd.
Related Party Transaction [Line Items]
Expense to related party	$ 1,200,000	$ 900,000

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Salaries, wages and benefits	$ 2,954	$ 2,899
Passenger Taxes	6,254	2,317
Aircraft fuel	993	1,435
Contracted ground and aviation services	1,025	2,200
Maintenance	954	1,081
Aircraft Rent	2,981	3,384
Other	5,257	4,149
Accrued liabilities	$ 20,418	$ 17,465

Revenue Contract Liability - Su

Revenue Contract Liability - Summary of Significant Changes in Deferred Revenue Liability Balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Beginning balance	$ 9,896	$ 3,201
Revenue Recognized	(9,896)	(3,201)
Amounts Collected or invoiced	8,903	9,896
Ending Balance	$ 8,903	$ 9,896

Revenue Contract Liability - Ad

Revenue Contract Liability - Additional Information (Details) - Revenue [Member] - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Customer One [Member]
Revenue, Major Customer [Line Items]
Concentration risk percentage	40%	6%
Customer Two [Member]
Revenue, Major Customer [Line Items]
Concentration risk percentage	12%	8%

Segment Information - Additiona

Segment Information - Additional Information (Details)	12 Months Ended
	Dec. 31, 2024 Segment
Segment Reporting [Abstract]
CODM title	srt:ChiefFinancialOfficerMember, srt:PresidentMember
Number of reportable segment	1
Number of operating segment	1
Segment reporting, CODM, profit (loss) measure, how used, description	The CODM assesses performance for the Company’s single operating segment and decides how to allocate resources based on net income or loss that is also reported on the Consolidated Statement of Operations. Net income is used to monitor actual versus budget results.

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - Aircraft	Apr. 29, 2024	Dec. 31, 2024	Dec. 31, 2023	Oct. 10, 2023	Dec. 21, 2022
Subsequent Event [Line Items]
Number of aircraft leased		18	14	2	2
Aircraft Lease Agreement Thirteen
Subsequent Event [Line Items]
Number of aircraft leased	1
lease term commenced	Jan. 31, 2025
Number of months fixed monthly rent to be paid	102 months