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Global Crossing Airlines secures US$5.0 million loan from long-term investor

Global Crossing Airlines Group (GlobalX) has secured an up-to US$5.0 million loan with a key long-term investor to provide working capital and additional liquidity to support GlobalX’s rapidly growing operations.

“GlobalX is fortunate to have a committed group of investors who continue to fund and support the expansion of our operating fleet. We took possession Tuesday, January 26, of our first freighter and expect to take delivery of an additional three aircraft over the next 45 days and this facility will give us the flexibility needed to continue our investments in crews, aircraft and operating systems required to deliver our targeted 2023 revenue,” said Ed Wegel, Chair and CEO.

The loan is a six-month facility that will be funded in two tranches of US$2.5 million each. The first tranche will be advanced within one business day and the second tranche will be advanced after the company delivers a draw-down notice, but subject to the lender receiving internal approval for the second tranche. The loan is unsecured, is not convertible, has no warrants and will bear interest at the rate of 20% per annum, accruing monthly and payable upon maturity.

The net proceeds of the loan will be used to further the business objectives of the company and to secure additional passenger and freighter aircraft for charter operations that are expected to be delivered in the first quarter of 2023. (£1.00 = US$1.23 at time of publication.)

AviaAM Leasing delivers fourth 737-800 BCF to lessee

AviaAM Leasing, a global aviation holding company engaged in tailored aircraft leasing and trading services, has announced another delivery of a 737-800 Boeing Converted Freighter (BCF). This is the fourth aircraft in the passenger-to-freighter (P2F) conversion programme. The newly converted aircraft has joined the fleet of Bluebird Nordic, an Icelandic ACMI leasing and cargo airline.

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New start-up Ascendance Flight Technologies raises €21million

Ascendance Flight Technologies, a start-up dedicated to sustainable aviation, has raised €21 million. These new funds give Ascendance Flight Technologies the resources to fly its full-scale prototype, begin certification and scale-up actions for its first aircraft and help its first clients and partners to reduce the carbon emissions of their aircraft thanks to the company’s

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Sabre teams-up with Plan3 to provide airlines with holistic disruption management

Software and technology provider Sabre Corporation has announced a new agreement with automated airline disruption management solution Plan3 to enable airlines to be more proactive when disruption strikes.    The new alliance will allow Plan3 to draw upon Sabre’s extensive industry reach and deep domain knowledge in airline technology to help accelerate the adoption of its service, while enabling

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Hawaiian Airlines reaches agreement with Gevo to purchases SAF

Hawaiian Airlines has reached an agreement with biofuel company Gevo, to purchase 50 million gallons of sustainable aviation fuel (SAF) over five years. Gevo expects to supply the SAF from a facility to be constructed in the Midwestern United States and begin deliveries to Hawaiian’s gateway cities in California starting in 2029. “This offtake agreement

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Wizz Air Malta adds 50th aircraft to its fleet

Wizz Air has announced the addition of a 50th aircraft to the fleet of its Maltese subsidiary. Established only six months ago, Wizz Air Malta operates 265 routes from Italy, Albania, Austria, and Romania, with a fleet of 50 Airbus A320-family aircraft. The new Airbus A321neo joining Wizz Air Malta’s fleet is the most efficient

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Honeywell and Lufthansa Technik enhance collaboration on digital platform AVIATAR

Honeywell and Lufthansa Technik (LHT) are enhancing their collaboration on Lufthansa Technik’s digital platform AVIATAR to improve the customer experience in aviation analytics. Honeywell Connected Maintenance analytics are now being fully integrated into AVIATAR’s Predictive Health Analytics (PHA) suite, which will grow to more than 100 Predictors for multiple Airbus and Boeing aircraft types. Airline

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Delta Cargo reveals newest cooler at JFK International Airport

Delta Cargo has revealed its newest cooler at John F. Kennedy International Airport. From pharmaceuticals to flowers, perishable goods flying in and out of New York’s John F. Kennedy International Airport will now receive further improved higher-touch handling.   The new, state-of-the-art facility is the largest of its kind at JFK and offers an upgraded experience

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Etihad Airways returns to Kolkata, India

Etihad Airways, the national carrier of the UAE, touched down in Kolkata, India, on March 26, as the airline made its much-anticipated return to the city. With a total of seven-weekly nonstop services, the airline will once again connect India’s financial capital, Kolkata, with the world through Abu Dhabi. The first flight on the new

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Jet Aviation obtains FOCA approval for line maintenance in Zurich

Jet Aviation announced today that it has successfully obtained approval from the Swiss Federal Office of Civil Aviation (FOCA) for its line maintenance repair station in Zurich. The facility is authorised to perform line maintenance on a range of business aircraft. Jet Aviation launched line maintenance in Zurich in May 2022, under a temporary extension

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Brussels Airlines to welcome Dorothea von Boxberg as new CEO

Currently Chairperson of the Executive Board of Lufthansa Cargo AG, Dorothea von Boxberg will shortly become the new CEO of Brussels Airlines. The appointment is subject to a pending resolution by the Board of Directors of SN Airholding. She is due to take up her new position on April 15 this year and will also

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Airbus delivers first A321neo from FAL Tianjin

Airbus has delivered the first A321neo aircraft assembled at its final assembly line Asia (FAL Tianjin) to China’s Juneyao Air in Tianjin, China. The aircraft is powered by Pratt & Whitney GTF  engines and features 207 comfortable seats, eight in Business and 199 in Economy Class. Its delivery flight is to use a ten percent

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