Miami, Florida and Salt Lake City, Utah--(Newsfile Corp. - July 2, 2020) - Global Crossing Airlines Inc. (TSXV: JET) ("GlobalX") and Breeze Airways have reached an amicable agreement to settle a lawsuit brought by Canada Jetlines in November 2019. The lawsuit will be withdrawn by Global Crossing, with prejudice, and without any funds changing hands.
GlobalX and Breeze will also look at opportunities in the future where they might cooperate as they develop the U.S. commercial aircraft charter market, utilizing Breeze's fleet of Embraer 190 aircraft and Global Crossing's fleet of Airbus A320s. The airlines intend to cross-market and provide each airline's clients with options to use both aircraft types. The airlines also have agreed to explore other areas of cooperation.
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About Global Crossing Airlines
GlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. 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 https://www.globalairlinesgroup.com/.
About Breeze Airways
Breeze Airways is a new entrant airline by JetBlue founder David Neeleman, now in the FAA certification process. Breeze has placed an order for 60 Airbus A220-300 aircraft. For more information, please visit https://jobs.flybreeze.com/.
For more information, please contact:
Global Crossing Airlines Inc.
Email: Ryan.goepel@globalairlinesgroup.com
Media Contact: mark.tender@avi8aircapital.com
Breeze Airways
Gareth Edmondson-Jones
917 399-9355
gejink@gmail.com
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, statements with respect to the business and operations of the Company and future cooperation with Breeze Aiwards.
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; 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; 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 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.
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