Miami, Florida--(Newsfile Corp. - May 7, 2021) - Global Crossing Airlines Group Inc. (TSXV: JET) (OTCQB: JETMF) (the "Company" or "GlobalX") is pleased to announce that it has completed its acquisition of democratized crowdsource travel platform Flugy.com ("Flugy").
Flugy.com is an online travel platform whose members suggest remote and exotic travel destinations and crowdsource group charter flights to these once in a lifetime destinations. Charter flights to these destinations offer non-stop flights without the challenges of layovers or prohibitive airline schedules, all while traveling with a like minded group of adventurers.
The acquisition combines the Flugy member platform with the deep charter operations expertise of the GlobalX leadership team and access to its growing fleet of Airbus A320 family of charter aircraft. The combination of technology and experience ensures Flugy members a seamless charter experience combined with the flexibility to easily access previously difficult flight markets. Flugy is currently accepting new members, and beginning to crowdsource its inaugural member destination preferences and requests. Initial group charters are now scheduled so members can experience Crop Over in Barbados (August 2021) and Art Basel in Miami (December 2021). In 2022, Flugy has lined up Carnival in Trinidad and the first Formula 1 Grand Prix in Miami.
"The acquisition of Flugy is an integral part of our business plan to diversify our revenue streams and to provide more demand for our A320 aircraft. We believe crowdsourcing of travel, given what we have all gone through over the past year, is the next big idea in using on-line booking platforms to bring together travelers to enjoy specific experiences that they help create," said Ed Wegel, Chair and CEO of GlobalX.
About Global Crossing Airlines Group
GlobalX is a US 121 domestic flag and supplemental airline now in FAA certification using the Airbus A320 family aircraft. GlobalX has taken delivery of one A320 and one A321 aircraft as it prepares for revenue operations. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets. For more information please visit www.globalxair.com.
About Flugy
Flugy is an on-demand, democratic, crowdsourcing model for air travel. The social network is designed to bring like-minded travelers together through direct, chartered flights to lesser-traveled destinations. For more information please visit www.flugy.com.
For more information, please contact:
Mark Salvador
Chief Marketing Officer
Global Crossing Airlines
Tel: 786-751-8510
Email: mark.salvador@globalxair.com
Jeff Walker
Vice President
The Howard Group Inc.
Email: jeff@howardgroupinc.com
Tel: 403.221-0915
Toll Free: 1-888-221-0915
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward-looking information contained in this news release includes, but is not limited to, the Company's intention to fly as an ACMI and wet lease charter airline, the destinations of its intended charter flights, the timeline to commencement of its charter flights, the completion of the FAA certification process, the details of the business of Flugy including potential destinations and the Company's diversification of revenue.
In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the receipt of financing to commence airline operations, the accuracy, reliability and success of GlobalX's business model; the timely receipt of governmental approvals; GlobalX concluding a definitive agreement for the Aircraft; the timely commencement of operations by GlobalX and the success of such operations; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the impact of competition and the competitive response to GlobalX's business strategy; the timely removal of air travel restrictions to Venezuela and the availability of aircraft. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, the failure of the Company to conclude a definitive agreement to acquire the Aircraft, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement GlobalX's operational strategy, the ability to attract qualified management and staff, labour disputes, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/83227
