Global Crossing Airlines Group's Business Segments

Global Crossing Airlines Group Inc. ("GlobalX") operates a U.S. Part 121 domestic flag and supplemental airline utilizing Airbus A320 family aircraft. The company offers services through two primary business models: Aircraft, Crew, Maintenance and Insurance (ACMI) wet lease contracts, providing aircraft, crew, maintenance, and insurance to airlines; and Full Service Charter operations, delivering passenger aircraft charter services with an all-inclusive fee covering fuel, insurance, landing fees, navigation fees, and other operational costs. GlobalX operates in the United States, Europe, Canada, the Caribbean, and Central and South America. Its passenger fleet comprises Airbus A320-200 aircraft, expanding from one leased aircraft in 2021 to sixteen by the end of 2025, with plans to reach twenty-one. The cargo fleet consists of Airbus A321 aircraft, beginning with one leased A321F in 2023 and increasing to four by the end of 2025. The company’s main operational base is Miami International Airport, with additional crew and operations located in San Antonio, Alexandria, Mesa, and Harlingen. As of December 31, 2025, GlobalX employed approximately 661 full-time staff. The company is regulated by the U.S. Department of Transportation and the Federal Aviation Administration (FAA), holding an FAA Part 121 Air Carrier Certificate.

The Company operates a single reportable segment, providing customized, non-scheduled air transport services. Revenue is generated from two contract types: ACMI and Charter, with three main product and service categories: Charter, ACMI, and Other. The President and Chief Financial Officer serve as the Chief Operating Decision Maker (CODM), managing the business on a consolidated basis and evaluating performance based on net income or loss. Nearly all long-lived assets are located in the United States, and the majority of revenue is derived from U.S. customers. For the year ended December 31, 2025, one customer accounted for approximately 50% of total revenue. In 2024, two customers accounted for approximately 40% and 12% of total revenue, respectively. Since there is only one reportable segment, segment amounts align with consolidated financial statement amounts.