Global Crossing Airlines, which operates as charter carrier GlobalX, has executed its first-ever aircraft purchase and signed leases for an additional four Airbus jets.
The Florida-based company said on 14 July that “an affiliate of GlobalX” has purchased an Airbus A320 from Falcon 2019-1 Aerospace, with financing provided by UK-based Volofin Capital Management.
Powered by CFM International CFM56 engines, the 18-year-old twinjet was originally operated by Virgin America and then by Alaska Airlines, following Alaska’s 2016 acquisition of Virgin America, according to data provided by aviation analytics firm Cirium. It is configured to seat 179 passengers.
According to filings with the US Securities and Exchange Commission, the aircraft’s purchase price was $14.3 million.
Ryan Goepel, GlobalX’s president and chief financial officer, says that the aircraft acquisition marks the airline’s transition away from an “exclusively leased fleet to a hybrid ownership model”.
”Owning select aircraft enhances our ability to manage long-term operating costs, plan maintenance and modifications more efficiently, and most importantly—build tangible asset value,” he says.
In addition to the purchase, GlobalX has entered lease agreements with AE Industrial Partners-managed funds for four A319 aircraft “to meet increasing demand across its expanding charter and passenger service business”.
The first A319 is expected to be delivered at the end of August, with subsequent monthly deliveries scheduled through 30 November.
GlobalX will then operate a fleet of 22 A320-family aircraft, pending relevant regulatory approvals.
The carrier launched operations in August 2021, pursuing aggressive growth in the cargo and passenger spaces. GlobalX has since reduced freight-hauling activity in favour of chartered passenger flights.
