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SmartLynx and Global Crossing Airlines Announce Expanded Strategic Partnership

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Newsfile Corp.
·6 min read
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Malta and Miami, Florida--(Newsfile Corp. - March 16, 2021) -  Global Crossing Airlines Group Inc. (TSXV: JET) (OTCQB: JETMF) (the "Company" or "GlobalX") and SmartLynx Airlines ("SmartLynx") have announced an expanded partnership with the goal of creating new opportunities and increasing global operating coverage. The airlines previously announced a damp-lease exchange of airlines during peak traffic movement periods, beneficial to both airlines in reaching their goals.

To date, there has been operational cooperation in several areas during GlobalX's FAA certification. The areas have included several aspects for the regulation and improvement of both passenger and cargo operations. The expanded strategic partnership between SmartLynx and GlobalX opens doors for cargo cooperation, better region coverage, and for new possibilities to offer clients mutual services.

SmartLynx Airlines are EU-based specialists in full-service ACMI aircraft leasing solutions on Airbus A320 and A321 aircraft. The airline is part of the Avia Solutions Group, the largest aerospace business group in Central and Eastern Europe.

GlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft, subject to FAA and DOT approvals.

According to Ed Wegel, the Chair and CEO of GlobalX, "Our partnership with SmartLynx has already paid great dividends as we have used their deep experience with the A320 family of aircraft to improve our operations as we get ready for revenue service. We now look forward to taking this partnership to the next level by combining our sales and service efforts worldwide, and as well consulting on acquiring both passenger and cargo aircraft."

Acknowledging the expanded partnership SmartLynx CEO, Zygimantas Surintas said: "Synergy with GlobalX is to bring results in several aspects, and benefits for both us, and our strategic partner. SmartLynx brand is already established in the ACMI and charter market, but working on competitive advantage is a constant effort. Joining forces with GlobalX will enable both companies to execute business strategies with lower operational risks and costs, creating additional value for our customers and attracting new ones. Additionally, we are happy to share our valuable know-how and industry experience, assisting GlobalX to improve their efficiency and results. The partnership is a step forward in our strategic plans for the cargo business model and plans of becoming one of the largest narrow-body cargo freight carriers within the next three years."

About SmartLynx Airlines
SmartLynx Airlines is one of the leading EU based ACMI and charter operators on Airbus A320 and A321 aircraft. The company's market expansion plans are to be complemented by the expected FAA approval for the SmartLynx Malta subsidiary.

SmartLynx Airlines is a family member of Avia Solutions Group, the largest aerospace business group from Central & Eastern Europe in 2019, providing aviation services and solutions worldwide.

Avia Solutions Group provides state-of-the-art solutions to the aviation industry and beyond.

For more information, please visit www.smartlynx.aero

About Global Crossing Airlines Group

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 www.globalxair.com.

For more information, please contact:

For SmartLynx
Snezana Tomic. Brand and Communications Manager
snezana.tomic@smartlynx.aero

For Global Crossing Airlines (GlobalX)

Mark Salvador
Chief Marketing Officer
Global Crossing Airlines Group, Inc
786-751-8510
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, statements with the use of proceeds of the Offering, the Company's intention to fly as an ACMI and wet lease charter airline, the completion of the FAA certification process, the details of the expanded partnership with SmartLynx and operation as a freight carrier.

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/77330