Global Crossing Airlines Reports 6.7% Revenue Increase to $61.4 Million in Q2 2025

Global Crossing Airlines Group Inc. reported a revenue increase of 6.7% for the second quarter of 2025, reaching $61.4 million compared to $57.5 million in the same period of 2024. The company also achieved a net income of $0.6 million, a significant improvement from a net income of $0.3 million in the prior year. For the first half of 2025, total revenue rose by 14.9% to $128.0 million, up from $111.4 million in the first half of 2024. This growth was primarily driven by a 39.6% increase in ACMI (Aircraft, Crew, Maintenance, and Insurance) revenue, which reached $44.5 million, while charter revenue decreased by 21.8% to $45.8 million.

The company’s operating expenses for the second quarter increased by 5.6% to $58.1 million, up from $55.0 million in the previous year. Notably, salaries, wages, and benefits rose by 18.9% due to the hiring of additional personnel to support the growing fleet, which increased from 16.4 to 19 aircraft. Maintenance costs also surged by 104.5%, reflecting the increased operational activity and the need for repairs on a larger number of aircraft. Despite these rising costs, Global Crossing Airlines managed to improve its operating income to $3.3 million, up from $2.5 million in the same quarter last year.

In terms of operational metrics, the company reported a total of 8,065 block hours flown in the second quarter, a 12.8% increase from 7,152 block hours in the previous year. The average utilization per available aircraft also improved slightly, indicating enhanced operational efficiency. The company’s workforce expanded to 715 employees, including 150 pilots, reflecting its commitment to scaling operations in response to market demand.

Strategically, Global Crossing Airlines has focused on expanding its ACMI services, which have shown strong demand, particularly from government agencies. The company has also entered into several lease agreements for new aircraft, including four A319 passenger aircraft, and took delivery of an A321 passenger aircraft. These moves are part of a broader strategy to enhance its fleet and operational capabilities. However, the company faces challenges in the cargo charter market, which remains soft due to economic conditions and excess capacity.

Looking ahead, Global Crossing Airlines is optimistic about its growth trajectory, particularly in the passenger charter market, which is expected to remain strong through 2026. The company is actively exploring additional financing options to support its expansion plans and manage its liquidity needs, as it anticipates a working capital deficit of $46 million. The management is confident that the combination of increased sales and strategic investments will position the company for long-term success.