JETMF - Earnings call transcript Q1 2022 | Global Crossing Airlines Group Inc.

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Grant Howard

Good afternoon. Good morning, depending on where you are. Welcome to this Management Update Webinar for Global Crossing Airlines. I'm Grant Howard. I'm joined today, Ed Wegel, CEO and Ryan Goepel, who is the Chief Financial Officer. psychotic information been stack, the on exceptional, be in of the information, stock all lot is doing has company growth contrary a cylinders. a on fact, good the solid, may performing, There's in the firing market, to what And not steal any I'm thunder. to going

Ryan, going turn that, over it with So, I'm to Ed and to you.

Ed Wegel

to signed about will we revenue quarter, forecast numbers. we'll we're afternoon, highlights this to quarter, passenger update, Great. this present for contracts Thanks major operations which to by introduce as very do XXX this that of of you going some the being a quarterly some the of a little a our freighter. do economics the about rundown with look and which we updated And of and service AXXX freighter some to full of for to talk very this this have little have revenue, Grant the and objectives be happy into of service, of We're everyone. growth We'll the and talk the good second year, versus our well quarter is a bit here important be able a we QX unit of XXXX. us both the highlights comparison of Thanks quarter morning, of second quarter. we'll element at good quarter glad aircraft, on fourth as that in AXXX very story the bit

late January, February. of remember, quarter, part mid QX good this, and despite negative So, into Omicron, we effects December, behind everyone the with had first again, you now, as affected which very the the us of a

of staff because their or immune revenue either we number that, were of over number We as a who now clients and projecting $XXX some was $XX over and our now XXXX. to affected office even next three of of $XX little quarter, and had jump million trips, fourth pilots delay, So, was total years Despite well, cancel, a for exceed that the a by defer of and that our And to a full flight crew, personally. quarter not had Omicron. were in breaks and for have which that we good place in otherwise the million down over plus revenue million year XXXX that. follows. contracts the as We're the

signed in So, million contracts $XX XXXX. for now

jump a $XX to to So, million us it's over full plus the get year. short for

in revenue XXXX, million already $XX we've million for booked $XX have contracts signed we and XXXX, already in For contracts.

So, we've forward. company are this we a possibility moment, got that the look bodes as talk we reps of And base a move the us but later proof. from recession a reality. majority of shielded well in We'll of -- at Americas, foundation of this of the a Canada, year those as contracts because for U.S. and some are recession the largely vast good about those all we economic in for good the revenue maybe

fourth the in this quarter just XXX% that quarter ended. increase will quarter versus per hours year operating Our the

end and on to going we'll the balance but the have which the the moment, aircraft, in as the certificate well passenger a tremendous have freighter we're So, this by freighter of from introduction comes growth of additional this year. first year, as aircraft three this get aircraft over of into we'll

and we the the to things QX, forecasting systems, freighters. that all take AXXX still our profitability additional need heavily training, So, pilot further investing we're in take foundation pilot on for on lay growth of to we're our recruitment, in to IT QX. aircraft

go to of last QX year. it turn through I'll that, the versus with Ryan So, to quarter

Ryan Goepel

pretty a we grew we Ed as which QX, $XX million saw And which $XX is in increase. revenue large stated million, to

benefits the in notice all is as you'll costs. other for one necessarily had one we of don't One we add aircraft

do proportion Aircraft as increase example, impacted not wages is of revenue did by a in lot flew are we cost see and that continue. fuel that and March so ACI So, we and either contract. we'll included largely add cost salaries and contracts again, how March for the see those many basis. We schools plus that's more that that aircraft, all fuel of

basically a aircraft through risks of XXXX on quickly pass mark we insurance, at need those was pretty some the just was big there. that take the -- a wasn't as are increase there's to fuel cost in boarded When a necessarily be adding And don't look aircraft. that and a QX. any rent, that's up of just reflection Maintenance we six place. up, over expense so that end we So, at that we put and travel upgrades that's

feed So, excited to invest for are to, the through we're to the that continue we're as cost in alluded of the we're in people, about structure, to in order we the growth continuing year. rest invest projecting Ed us systems

Ed Wegel

the December the we've year. fully bringing those aircraft. this on to recaptured other involved maintenance last in certain expenses in on, we we expensed be quarter, will we from here, the are and those highlight those aircraft in of as lessors of brought There some of providers them believe Ryan aircraft some relate of of Some that three said, that expenses the maintenance

with required finalized fees U.S. related which our charges forward. professional of our building our develop maintenance And got human so have scheduling, this of made and to that systems, terms are and in to -- that capabilities, had people expense them we our we that need the and FAA quarter dispatch, airplanes our number were the at We and up overhang SEC. our had S-X systems take other as of took we because are before going all infrastructure effective our we we don't under on. we hey a and also build the any the systems, the we We

expenses, expenses, expenses are onto training those the incur the aircraft the additional before So, salary we certificate. brought

to additional aircraft note of on. to pieces have thing allow the elements all the bring we to FAA will important have place DoT an that in and us and the before is that's So,

that hard We work. have all done of

spent We have double and end effectively we the systems year. fleet on to a until spent of that lot people this from of the money, allow our now money us have

of look four the contracts at the couple have we to of As that we a some months, note. three key signed things over of past

will our on on getting $XXX XXXX. clients airplanes that do signed hours we've shy will from those contracts day, over got and contracts far grow We've the Key beyond, the for in we've contracts every in those of still and government, over this secure contingent that we of in but proof cash almost such U.S. very have we're as those so, government so business got us. XXXX LOIs, up is -- for government XXXX, the every So, us, million XXXX. booked we for hours year, -- for continue by and XXXX in deposits And And building to and U.S. X,XXX our just X,XXX contracts. are are XXXX. we've looked include day. XXXX, X,XXX freighters, got and already deposits we LOIs recession some

hours been for up air all has over administration cities from you fly have as yesterday, to Cuba again. Havana now in X,XXX seen may Our and This the province XXXX Havana Miami opened contract service renewed. a represents and into the Tampa from to little Biden

cities represent to we Havana a of So, basis, on flights year. those will we're soon fly full projecting top XXX hours and that four per on year relatively additional about

brokers We're We're brokers. up dedicated providing Championship Our to the continues more specialize who to conferences and collegiate Series. more others, aircraft grow. certain fan to and and signing incentive NCAA in and travel dedicated business aircraft certain providing

asked we're in putting March college because month Series World basketball aircraft Madness, College to that our where had to provide dedicated championship we now six performance have aircraft instance, starts two NCAA later this which the was For this of next championship, we airplanes into year, two and March. that the been

So, we're systems, great reputation, great a clean reliable, on-time, crews. building clean, aircraft,

seeing later for airline, growing call volume. of as into U.S. hours a that actually We're in and month also for is and June what repeat business result, do we're so XXX LCC. in to we And major this flying them terms business going the sub-service. We're a

They routes of their them. we'll are capacity fly need on they routes. rapidly, some certain additional growing So, for

them. opening one perform missions really a XXX as we're that the that reasons up flight U.S. we the able route of This is we built so one did carrier of to So, a the way just for this. scheduled airline this like we're

place and that of XX for our here operator hours on the existence, programs we or in summertime, airline on-time mimic in so able in great signed aircraft got what to July for aircraft and these operator get should out service, with the August. their other next with relatively time double already the in clean two European the our because Amsterdam with us to crews years, quieter move We'll this for this also our and we've crews, per August. expand is the two reputation but we go in our utilization start over tour a U.S. a we're came moving again, the great they We've to our month July them. major think aircraft, of us in relationship airplanes long and got those airlines us to program with onboard and And And is to fly everything our with tour established but continue June. a this major both will XX summer. business the XXX with will in for almost end -- U.S. however, in airplanes a We've We're be other of per that aircraft for

progress certificate. airplane, the month ACMI get side, of signed major rate, separate contract. do first airline as American this out airline putting deal it, well having the next cargo now with be we'll airplanes hours a we'll part great minimum entire the XXX this This is a two They're this to to plan. a on LOIs the one within provide got them days. their agreement we On now of our closer fleet a as with Latin a actually making announcing GlobalX announcement We've few and at great for we're

the the will in that -- a Caribbean, freighters. or the the going dedicated particular freighter. moment aircraft, hours, first XXX also but signed have fill a placed pieces out that the foresee forward seeing for that over delivery in get We we'll a fully essentially fully are of aircraft we're in to not type, -- schedule, contracts look five of aircraft into place logistics airplane. demand AXXX our a major the to have We as due fully operator now which number of that We for this for booked this we in other put we has

going now business very, feel about forward. very, we So, very cargo very good, confident our

to want us You this? take through

Ryan Goepel

status Sure, delivered show in aircraft obviously which paint current six of four, and should it's board, be AXXX, the our we our here is adding on AXXX, to which first -- month. the we'll aircraft, have of end next the at a pictures,

which they've been XXX, here delayed be were side, will hoped get to going first that they've checks through in earlier year, excited Our them on and on June. been be the to but maintenance delivered in we're These significant board.

in the be lessor leases slide. and Our you We'll seven either cargo on deposits, here we hope lease from August. at when aircraft, coming look or -- later walk next commitments. from July through and a have next we in XXX, that additional have XX to on with But XXX then the LOIs, will

August will The detail first and complete be us to delivered certification, in our process. on allow aircraft that Ed track is to which to

there. elements first Xst. work a both pilots to flight team, I to our through XX to Las for capacity and going the that the look we San are our But need aircraft, currently work training, starting Vegas the government us maintenance we're our When do you program. of office getting revenue two are think over October key by is bases, weeks. Atlantic is pilot and months. We growing given that's Miami, group September we're Antonio next and one do support the classes down at every and week Second nine looking opening That City, have attendants in at of training operating go service

people been the of all growing, look and is the the if next we're one the is it's the this elements kind So, join, at we're it's is. adding systems XXX, This real, you been And slide, excited. adding are still performing two is to And This We're painted. next the planes, where the investment record our getting have all it's now original in we're Alaska, delivery. that maintenance our serial another sisterships admirably sequential have we so great us aircraft three standpoint. from numbers, is throughout. for a from and and which

QX, to--? Looking me in you want

Ed Wegel

Yes.

Ryan Goepel

objectives, EBITDAR in our $XX targeting QX, revenue. we're positive. million in Looking

looking is Now, interest used analyzing aviation taxes, earnings it trying The removing you It's airlines optimize rental see and of We're we're to important announce a you a you finalize allows look rent. acquire depreciation signed who they in to their EBITDAR to the two. football We to operations our apple-to-apples aircraft the its there's additional contracts, allows we and because they said the LOIs compare the asset, delivery is metric to to utilization the aircraft season. to buy multiple basically air or our can by and all and support comparison work. XXX. schedule is cargo Fall EBITDAR for next used choose get been assets government season contracts companies compare lot competition the we the XXX cost. what take is this contracts. metric with are do as differently is over with that a and earlier similar lease passenger commonly We'll before those and a allows reason to of We'll bidding whether asset,

I'll through walk Ed, I cargo. will over who turn think now to

Ed Wegel

freighter. this concept our is design XXX -- So, the our for

said, mid-August, second, we two As will first, the near the be of end first August. delivered aircraft the

one at conversion engineering outstanding aircraft Precision working which converted the to both our is maintenance contractors, in We teams OEM one Engineering, the -- ST maintenance cargo, conversion world. is both have with the the largest and get MRO up aircraft these facilities, vendor are is second

the our Airlines been the weeks, the few ceremony of we It seen beats have door Japan fuel second so about very City, pictures after we've feel and for well we'll so more you to wholesale one a XXX-XXX. Antonio. a committed the Antonio, the of -- our aircraft very XXX the and Lufthansa the for gotten next airplane aircraft, walk we up But the potential the to in us pants in good And for the to with In aircraft airplane competes aircraft into we aircraft. committing a that. in San seen have in burn Florida Lake and those cutting and economics, to the volume against XX pallet the them both San at this a may the cases, some have thing shiny this We've off Florida, less the we've cargo bit, XXX on gone website. of Lake ability us aircraft. aircraft the very, City, of competition, positions this our a through them. this about door both in gives met tremendous versus ceremony placement very second through it's business. aviation as have is clients for for excited and they and operate this And

talking contract in have we're I So, package months. some the next few here a to think we'll carriers here major the U.S., in

comparison our you of a the than been XXX-XXX. for a us. XX%, very I see just about few days we're guarantees operate announce hourly this airline, as of these said, in them. versus we and in believe of airplanes this them other more to carriers, talking XXX are a than aircraft four the minimum of very, we the Latin is profitable XXX from major placed effectively will all the for for as which many five This get very and And the that said, have Latin is XXX the airplane. first more us that very, it's with And interested confident as actually monthly I we and AXXX XXX, operation containers I major XX% to freighters As make asked that

airplane out more absolutely this moment, freighter is commitments the there. deposits talk and narrowbody under lessors. best-in-class we but We'll have that's seven XX a with So, LOIs firm in or just from for lease,

first them to them This XXXX. third. finding they've of again, September schedule. So, for they the two, half get this. fleet. crews us. first that. and to a shops of absorb deliveries our we the It feedstock to the Two delivery airplanes, convert us us to to airplanes, find up this then to for working do December airplanes, working are late August, these early our delivery October, that good airplanes as January, with July, We're to in to then the for those in schedule on more a and that We're the conversion, after there convert us August, is February, the to put for have get for And January. schedule committed place the us conversion will both of is lines September, great move fill contracts working We'll place, in get the more some very the do but that in the through for allows open some into

freighters, will So, for are broad we when operating we will we XX be AXXX be extremely them.

serial late Here's manufacturer pictures both XXXX Doors to have And August. be track cut. aircraft number progress. of and to are the delivered first XXXX, on in these us been in

again, the OEMs do conversion with, very shops than just we're working feel they So, about They we planet. better best-in-class. this are good two about on anybody that the

So, affiliate ST them that an works one is of with Airbus Engineering.

is air Precision, with is of world. the in which the premier cargo carriers well second as ATSG The shops conversion works as one

them, two providing So, that behind we've Between two us. AXXX of us, will great all our got of freighters. names be XX the

conversion in So, we're hands in shops. good good with these partnership, two we're

So, you talk-- --

Ryan Goepel

Sure.

When the story. little one is we've the the this, with comfortable what we aircraft look we the on these the each the been over targets at of and we we work we'd with that things contribute aircraft. and a each trying individual and we're and are know company, think across aircraft that understand story call. direct figured been of cargo to be get hit vague XX-month can potential the to on to passenger modeling what's is I -- bit we've story we'll I how to what today's pretty how this believe kind each a period we want of

So, this. overhead before and of have million $X.X and before overhead per the basically These be if charter enough impacted at have expect overhead rates. aircraft, and in were -- looking are to utilization passenger $X.X to XX $X.X you we get profit have million But per obviously, cargo. overhead overhead million we you're passenger profit a pay million by per we gross rates gross $X.X and to those looking for an are targets place, to an place see. and starting the think Obviously, in large we we're to aircraft. that's first By to for

staffed big for XX/X our which which step around worked a are clock and the we first in operation support maintenance quarter. center which operation, maintenance allows through or is to facilities work our We the up

possible think opportunity is this we we straightforward pretty math So, we fleet make plan, see where with the to as think I try as the being.

think favorite over I I'll our slide. to with turn that

Ed Wegel

from So, Afghanistan, of got aircraft in sent news, this up with the January. certificate, pandemic, the all six great to more we we got airplanes to middle on the got aircraft -- certified several went in

Now, working very quickly and positive and fourth profitability. into EBITDAR closely to get to a quarter then breakeven and

up the in of the which We AXXX the freighter. world today, tied valuable XX is have aircraft most

signed in this aircraft contracts year, end passenger that XX by have will of recession We proof. up of are mostly most the them

good the what because and with economy, clients will conditions they be be who no despite under aircraft economic matter in will flying are are. So, fly have contracts, flying what these to happens the

over been hard about very So, that face has can time this tell get what is effectively share is faces working you are out. that price the all team to our of we the that, I a XX% of management in cut period. in story this

get story OTC by that have yet. firms to tried his large our in the the It's and with back. us on in many and out we holding investors and institutional invest others is are We fact ways cannot us

that of it frustrated, we continue social on to through our knows information we media out website, a this we're and we are out. bit the that all We put this out get nobody putting comments put

in out. the story media sites, this price. companies efforts a number been get we to to we're will have manner working get working criticism to the do lot social our of media continue out, we with So, Group with and We're story story a phenomenal put work share a over The in our getting positive out. of of others Howard but

a that have You management team is performing.

has now the I provided to and that the do team have got and think build aircraft of management place tremendous all to airline we that by that would fleet the end this said then that project a have we elements things foundational we You XX some that XXXX. some we've in

you comments the this again leave to with everything story doing that want can we Just we to out. are get

to probably and agencies, that finally firms been We through story. of And strength U.S., do break PR and the of power and Canada in four until our IR will and so this through or the understand media, five have forth. people company social we we can continue the

So, with take questions any appropriate. that Grant, I'll are turn that it over that to you. We'll

Grant Howard

[Operator on the while $X.X gross waiting couple and you, we for on margin million $X Ryan. on million doing where million, $X.X million you're cargo. your just million we're $X.X Instructions] the And come to annualized talking in, comments gross the numbers the $X.X passengers about for questions running margin Thank of those to presentation, of a to

of gross I'm be are the to please margin $XX.X numbers million QX, you U.S. that's for the and annualize getting Canadians, here margin, numbers all is the would million $XX.X your that remember, course, If gross

clear buying so they're the this growth to not stock, of clear it at got I do on Again, keep as and because this over keep million to exchange you continue people future send as the and year. out went the from the selling gets? profitable to looking you on a in Can it look and that goofy is company million case, any we are out gets. margin to on over if market harping these just CADXXX So, I a and is of as I track types gross as at and going information fundamentals. a other it's Canadian $XX year, throwing fear numbers me will base zero please junior

stop now. will So, I we and with are some getting that, questions ranting in

surprise from contracted of and ground negative, salaries, So, margins that revenue, costs with contributors were XXX% your look mentioned fuel business. aircraft as XX%, do operating the through are at If services QX to the big you XX% operating at is above? we which the be aviation run date Ian one says revenues and what McQueen do XXXX, XXXX benefits In given of expect other no pass first is building XX% wages, margins for XX% you at are being costs rent revenue costs be? rate and to categories where And to you plus, to XX%. expect a percentage of of the

Ryan Goepel

Thanks.

about to amount on talked You the think of to about me per maintain basis one best can give then guidance -- what of a I that parts it. we I do overhead we want aircraft tough is the think and one?

an of not. One we do contract contract, four full right? that ACMI included, If example is fuel, if it's cost do a on aircraft we

changes as mix is percentage how much revenue full will our that as of So, versus a contract, of ACMI change.

we margin a that then build model a unit gross we So, figured calls. subsequent I with economics and we'll start over or macro put out up the projected to yet. have

Grant Howard

burn your and position the What rate? cash current monthly is

Ryan Goepel

-- is rate I balance $XX -- getting was was ended -- is sheet million our we we and burn on believe shrinking. QX, over the

QX. QX, through think below I gets the cashflow of course positive, -- it year through $X and it's the to then million

burn accretive. that's to rate be not going we It's is something anymore. -- as something becoming it's So, not burn a

Grant Howard

park in was asks a weeks? why Chris for XXX few Moffat

Ryan Goepel

C That check. parked, was a actually doing

So, go to every aircrafts through -- XX through check. and XX have years or XX days. have they go They a months, to two take two-year between

will XXX at there Right facility after. was overhauled. straight is MRO then being XXX XXX So, now an and follow

that three So, checks. two-year what aircraft are going through call or checks C we have we

why that's So, it was there.

Grant Howard

thoughts [ph] if PIO place? any Chamberlin Officer a I quite the [indiscernible]? experience what, company? dedicated serious, Public know that's for having responded to on don't or firms My in do are PR only Information John the that have we there

Ed Wegel

Information the effectively I and Public Officers. Ryan -- have serve as We

Mark CMO, senior primarily the and sites, -- social Our the primary forth. our is officer Salvador website, is overseeing our so media

the what to determine what all invest they we Canada in out an put LinkedIn, this, information anyone maintain what be they're say we New prevalent. of can't senior the won't we through that NASDAQ until do one whether in Stock But we to that, because matter and able that going management move out -- to junior no negativity matter airline or exchange that on we put what fact about say here. we no up do, face I Exchange team the Facebook, say, some to lean matter company. In say to additional I OTC move you want or and Twitter, what the of we do guess, needs So, the do. on underline we seen operate a up on and actual of we very I or on a raise Grant, is like on a do what No York get do capital we in webpages release, has our we as this the say, what they matter and press will press no releases, we profitable. will -- no actually

We are documents public, public the which off of of website. pull our means they all free can SEC

So, access limited merely value, releases, plenty press -- A there us. we to be of frankly. out PIO, of is just more for put opportunity about of them and found would information plenty to ways which anyone

and have coming, will the up someone at We've someone say, other wake to release not release, here freighters will will to tried be like do notice. be will So, everything, this. release, of positive press are the these what's market have our to to that. the we or someone, read some continue wake going a in My they movement. a will and they works, because that Tweet, And or eventually and what nothing is we My on press look a LinkedIn, of what airline XX aircraft, we in every just going up eventually passenger because until decided XX on we have wake word us the up it Lord, Lord, won't but someone and do people outperform to a any it post they that have But have, and contracts get not pass understand in start we're way press understand

Grant Howard

you believe still to end do of we uplift need the NASDAQ, certainly of bid by still do a able the you'll And be year? $X? minimum They're

Ryan Goepel

So, cargo have to I growth, revenue. our have quarters generating the earnings is NYSE cargo active multiple revenue we've NASDAQ line think or on and contract on positive and said of always under

see the when that, can address there. when we share reflect I you price that would it it's -- would and hope think you it we

are I external what So, do the there's we we it factors take on perform. here external performance, eventually I will And obviously the the how itself factors. we token, and sense of with impacts itself comps And control frustration think the can comparisons that and us. all and on what that But care same some in will think, of sort out.

million simple million, it of we So, by the believe revenue, price need the will keep contracts aircraft XX the up-listing end make and $XX reflect the plus and deliver and year, cargo in three we process. share delivering just passenger, pretty $XXX to the And the deliver more.

Ed Wegel

price have fly. blue in the And because or our said we we're of to that. affected it Yes, we that not face most oil the not our are pay affected by until largely have clients clients by

oil when down times panic. say stock So, how they people matter goes that we up, pay our goes price no because that. will many

it oil So, Despite XX they're times, and get that fact said prices. the by airline affected don't it. they still an it's we've

that to the how love through anyone, if someone suggestion. time an that we get for has idea or we say would and So, XXth have suggestion to can

Grant Howard

One keep them pilots GlobalX [indiscernible] Moffat, on more and its airlines retain two moving up-list. an Chris other and how or From questions staff does after from to training?

Ed Wegel

America. quite coming in and We to Latin years. it's some are China, of those because simple. be Miami, They They they XX,XXX the to to care don't for live want the Well, the number in -- next command out they where coming to were want take to East, a right XX XX,XXX even with want good pilot age, of coming to years. they're flown them. lifestyle. of in at pilots The of Middle They're they've very They're majors seat out Asia, getting, unreserved XX,XXX this of out of left seat that kind us hours particularly of the coming don't be they'll their the go out they'll of in for coming time.

So, they to come want to us.

wages are comparable. Our

exactly what XXX(K). are to take their the them got take people. we bringing a take care as have we they're as And same they're make pay are Allegiant like has some of talked lunch, we We've got same employee dinner. purchase we our We a fact, XXX overseas airplanes with rates growing six, Allegiant good others. people, from the plans. We've family we former the work pays. We've the here. our feel having colleagues them to of stock part us who of Allegiant We and them does. to captains to number and and of In

pilot spoken our a I've attrition about good I to. that very percentage any very, -- can out there feel just on group. than we We've had So, airline that basis about less

our our more of we where they might seriously. want take be stay, a seriously. ULCCs even of And one they at environment money here take major, We they though life. make culture work we've so of the And because or people want to to quality created

Grant Howard

on the on ground again. hangars/office? When Fort are Lauderdale planning you breaking proposed Moffat Chris

Ed Wegel

and the much terms mitigation depending We to be just issues, we upon be expect Department we in break land, to building then training the do which done will for how have of and is to ground in late the approvals and of mitigation early finance how any space now to approval final final Aviation regulatory environmental now preparatory We've and the much fully the put in ground. the July. there. we quarter right expect to ready of office And break we'll to final Broward have of we needs expect June, perhaps barring determine this year. It's space to go work sometime want from minimal, which by design, be County think got third and process the

Grant Howard

Question Flugy, any that if from anonymous are on there updates idea? about

Ryan Goepel

did direct with out. event what had been announced next company. the with we one Soho we is we're very travel working call trial, effectively done our platform, the Flugy it's We the see one steps, we've together four can So, We're grow built them, a platform, agreement platform House, five it. customer to do resources on has the we more. schedule the working or putting and to The base to monetize travel

platform we QX, which we've to flights to XX really to beyond where we done, in technology do get Flugy. doing So, we've to now is month a we're we worked and to through wanted some want flights, part it's their wanted to to and customer all then believe usable, looking out which a we've get done. which hopefully one where we the And done, XX a get to test we're point next to groups expand the proof-of-concept, it

Ed Wegel

need partners, the a now, a into business monetize our online major to which got we great conglomerates is of other the some company online very grow all with. player responses think we this get for And and we've Flugy. of We're with travel an one of a agency talk with division some can which travel to Ryan getting we primarily effectively on is as me of agencies, we that We House, that want online that a some agencies. OTAs, capital core running of a piece partner say in -- along that them with travel were So, not the we to said, and own airline, or to working piece online business. this maintain strategic brand We're of particular OTA let strategic partner our interesting space. a are proposals number do We the travel Soho is the business. charter looking started to

Grant Howard

below Kenneth eVTOLs, provide does but incredible, then the The is a is Could to from says C takeoff LOI CargoX so vehicles, look to [ph] that's the team take the and plan side, you utilize incredible these? work announcement especially about degree normal what asking vertical exciting. the he far? vehicles the vertical insight little more

Ed Wegel

to flights aircraft to with of a million right that application our believe into Port County. $XXX equipment original real of move intend eVTOL number something their major public that's got a valuation. selected cruise style and out real building Eve engineers ways go they've Miami to experience airplanes. eVTOL down build on manufacturer old building gone or garage, the public. so got involved facilities. Eve behind there, and gone the division in has tremendous the Miami-Dade charter We it and in a Keys, airplanes stack of of They've the can they They've Miami in got We money to players is Airport off is or or build There's aircraft, we eVTOL get them. passengers where Broward just got to and They big of perfect this be OEM. for Embraer. Airport in don't aircraft. them real because We Fort for use on. that concept West They've ships a they forth, Lauderdale and great designing application Yes, in number manufacturing wanted that of Arata the a is aircraft. is from a and Embraer early is a

the Fort over Florida be more well in Palm of doing the back Myers. we airports Fort our can crews Beach, Lauderdale, Florida, and out Westcoast Sarasota As we're flights to and on of South between and forth more going move and even

it the able developed manufactured in to is XXXX, and to for be range So, certified us do its this aircraft have that. by fully with and the batteries will time

-- with we're developing plan. working So eVTOL and Miami-Dade a now on County

is have airports also this expert of in for and and We a facilities now heliports the partnered worldwide needed [indiscernible], that are of which with construction sorts type aircraft.

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get can Looking to which to customers all best on our provide they're build on to Miami to to we down is Keys, additional aircraft destination their of V-ports Brickell to the or we Lauderdale. all in heliports or to fly and who where Key service into get Fort to called, the put eVTOL as South Florida spots up the on Beach, cruise these ships, so to way can to some hotels their clients get want West to way or that

our GlobalX. provide at absolute we that do the what currently of of So, it service is extension we an absolute to clients, extension

Grant Howard

Braun. possibility Conference on considering answered which Eve there Transportation the Questions in NASDAQ has Axel you this just and are such Industrials on year? Global a from conferences planes been or Is & participating Wolfe as

Ryan Goepel

I've two are month. conversations we in last So, the about in that. done conferences

we So, in are participating conferences.

the We are about in and talking of Wolfe brokers to some participating other that.

to active getting us getting I we're radars community. think part conference are the of the is the that size we're in and going to, that so to be we getting on

Ed Wegel

fully analyst One know be away doors has on up opened those a senior a in to doors and later punching to capacity, because help where believe is get Helane an small one us Street. official top to a the of those the that be at she'll is release who we'll this the to conferences that of number number broadcasts of Board now take Advisory of Wall and some soon of kinds who's in us, above able of some the we'll she'll of with airline announcing into that things thunder We is this Cowen done we still retires of invited we be to from conferences. & Becker, ranked Company will year. we our on Wall we're Helane be Advisory next about don't Board get she ours, airline open And the Street those full Board shortly. she'll believe we year. for that And well in weight going supporter from conferences here us join the a we be anticipate been the airline the that joining GlobalX great analysts has when of Cowen

Grant Howard

Some questions email Mike from Roberts.

I think all except the how addressed handling had ground them of been business was for progressing?

Ryan Goepel

getting a the now. it. to performing here of we're but the in place, -- want place is managed They're at sell-perform currently at had we've to people Miami, start, right We're little processes do put get good Miami-Dade in we bit what we so slow excellent. we getting a Yes,

allow very the for think of operation we'll able the our And eventually I be to use work -- gained will then on around country. to we've efficient piggyback some it's a us. expertise

efficient So, processes, we the want very to people, forward. operations down to and going something procedures we to have pick get so

Ed Wegel

expand that So, just to bit. on a

our Ground capability that our we're we We're we'll money service that, So, that. here, have Ground a ground operation be here fuel providing here aircraft at completely called of result about MIA, flexibility as the costs expanding pencil us so MIA even here while going now much Plus we that of Team. International is of MIA, adding fueling Team own Airport, ground us own greater will to under out it gives control. is we've obviously because better in in save our at costs at which our fueling. all The by Miami our place handling third, reduced handling

are third here of and the second ULCC at big of are Airlines We it of some the the American getting often MIA. cousin, to when or fuel because presence big comes that

Florida. our which We're and save trucks, reduce operation. now And our will Havana and looking of where expand we'll as operate we to as Westcoast looking getting own reduce well, our Tampa, handling fueling expand to to we're we're at that said, Team, times. Ryan probably us So, money Ground the

We've now, to ground which makes invited put operation have own there. Florida, MIA. the the and at to and difficult us St. there. of asked in has handling it we'll sense fuel situation for number -- fuelers growing for here MIA, could airport other airlines the at a in airport a invited here a because it our So, fueling us been people we've just But Petersburg, the we fuelers is of probably operations put if of case

to make as and we're airlines and other fuel expect we ourselves, going for that. well, provide to going we're So, money doing to

Grant Howard

is immigration. going been southern Here's border asking contracts? is problems a at more. government issue, It's end, again, your Title that of the XX And a controversy very Mike there's just an political to your with lot the if Roberts, comes U.S. to Certainly one in impact

Ed Wegel

there's And come and other that fact don't reasons transport we crossed No, Personally, illegals if than back of the being that people Title they've think are across I the the XX will that it large for the won't. back still the it border border. so end transported number does. are

several need not the this that from end. in next will over we years. program need will double by services for the increase aircraft they'll the And -- the almost government -- So, have they these been of told that number

provide parts we do believe So, as things run needed. moving good such about contract, very, feel very be think is it of that doing. with can in us pretty confident that under Airlines which miners other that that subsidiary. very, a is for a government, We the that thing we one their Capital families, very we the much be business, to we will so also efficient U.S., they to re-linkup our But service for

either recession just no, impact negatively. believe a recession business contacts in Americas. understand don't the we impacts grow, continue the see particularly We of that all that our or from So, where positively government will this and an to

Grant Howard

because nothing last was question that, else has come With I the in. gentlemen, that believe

So, going job. wrap. great a to you're congratulations, we're doing Again,

is You and forecasting current what above a your of stock at the year. is team got base that's you're case market cap about trading half revenues this

we'll have thank Ed. will you, itself speak that the an Thank and on stock reversal let Ryan. market a price. we'll So, see Again and for perhaps the you, epiphany

Ed Wegel

platform. the for a for to great day. use today. Thanks allowing it Thanks Everyone, Grant. us have Thanks

Grant Howard

Thanks to everyone.

Global Crossing Airlines (JETMF) 17 May 222022 Q1 Earnings call transcript