Global Crossing Airlines reports Q3 adjusted EPS (8c) vs. 0c last year

Reports Q3 revenue $42.6M vs. $30.8M last year. GlobalX operated 6,487 revenue block hours in Q3 2023 representing an 173% increase over the 2,380 block hours operated in Q3 2022.”GlobalX had another record quarter and achieved a new high in block hours operated and reported revenue during the busy summer season,” said Ed Wegel, Chair and Chief Executive Office of GlobalX. “Total revenue was up 38% versus the third quarter of 2022 with a GAAP operating loss of $2.3M, which is $4.4M reduction compared to the second quarter of 2023. GlobalX has made great progress towards the goal of sustained profitability through the growth of our fleet and scaling of our operations. The fleet is now at 10 passenger and 3 cargo aircraft with four additional planned aircraft to be added in Q4, which will underpin double-digit growth planned for 2024.”