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Global Crossing Airlines Group, Inc. — Q3 2026 Earnings Summary

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  • Revenue rose 24% year-over-year to $71.8 million, while operating income surged four-fold to $4.0 million and net income turned positive at $0.2 million, reversing a $2.0 million loss from the prior year.
  • EBITDA increased 144% to $10.4 million and cash flow from operations grew materially to $9.0 million, though total operating expenses rose 19% to $67.7 million due to higher fuel, maintenance, and depreciation costs.
  • Management projects continued revenue and EBITDA growth into Q4 2026 and 2027, supported by the addition of up to five new aircraft and the delivery of three A320 airframes expected in Q4 2026 or early Q1 2027.
  • The company is executing a strategic shift toward higher-value domestic flying, evidenced by an 11% decline in average utilization hours per aircraft and a 31% increase in pilot headcount to 186.
  • Total liabilities increased to $247.3 million and cash reserves declined to $14.3 million as of September 30, 2026, while the company maintains IOSA certification and TCOs for Europe, the UK, and Australia.