Global Crossing Airlines Group (JET) Lytham Partners Fall 2024 Investor Conference summary

Company overview and market position

• Fastest growing charter airline in North America, operating Airbus aircraft with a focus on on-time performance and reliability.

• 2023 revenue reached $160 million, with a market cap of $35 million as of August 2024.

• Participates in both U.S. charter flight and air freight markets, totaling nearly $50 billion in addressable market.

• Operates 18 aircraft, targeting 20 by year-end, with a mix of passenger and freighter planes.

• Holds key certifications (IOSA, EASA, Department of Defense) and maintains strong government relationships.

Business model and differentiation

• Operates on an ACMI basis, passing ticket, fuel, and crew costs to customers, minimizing risk.

• Utilizes mid to late life aircraft for lower capital costs and lower utilization per aircraft.

• Focuses on providing reliable, "forgettable" flights and invests heavily in pre-charter logistics and customer experience.

• Ranks captains monthly on on-time performance, incentivizing punctuality and customer satisfaction.

Financial performance and growth

• Q2 2024 revenue up 83% YoY to $57.5 million, EBITDA at $18.7 million, and positive net income.

• Fleet growth from 1 to 18 aircraft since August 2021, with a target of 20 by year-end.

• Revenue grew from $14 million to $160 million in three years; EBITDA from $4 million to $20 million.

• Expects to expand fleet by 40% by end of 2024 and drive higher utilization with high-margin business.