Global Crossing Airlines Group (JET) Q3 2026 earnings summary

Executive summary

• Record Q3 revenue rose 24% YoY to $71.768M; operating income reached $4.043M and attributable net income was $0.238M versus a $1.959M loss.

• EBITDA increased 144% to $10.4M, EBITDAR rose 36% to $25.7M, and operating cash flow was $9.0M versus $0.6M.

• Strong passenger demand, greater aircraft availability and a shift toward higher-value domestic flying supported improved revenue per block hour; weak cargo conditions remained a drag.

Financial highlights

• Q3 operating expenses rose 19% YoY to $67.725M, driven by higher depreciation and amortization, fuel, maintenance, and contracted ground and aviation services.

• Q3 basic and diluted EPS improved to $0.00 from a $0.03 loss; nine-month attributable net income was $1.592M versus a $1.197M loss.

• Nine-month revenue was $210.352M versus $186.004M; operating income was $11.516M versus $7.421M.

• Nine-month operating cash flow was $16.439M; investing and financing cash outflows were $12.292M and $10.361M, respectively.

Outlook and guidance

• Q4 net available aircraft are expected to average 20–21, including three scheduled heavy maintenance events; Q4 results are expected to improve.

• Management expects YoY revenue and EBITDA growth in Q4 and into 2027, supported by aircraft entering service in H2 2026 and early 2027; up to five aircraft are targeted for 2027.

• Passenger charter demand is expected to remain high through the rest of 2026; passenger charters and long-term customer relationships are priorities.

• Additional debt, equity or other financing may be needed for working capital and growth; availability and terms are uncertain.