This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.
8/14/2025
Thank you, ladies and gentlemen. Good afternoon, ladies and gentlemen. Thank you for standing by. Welcome to today's conference call to discuss Global Crossing Airlines financial results for the second quarter of 2025. At this time, all participants are in listen-only mode. As a reminder, this conference is being recorded. Joining us on the call today are the company's Executive Chairman, Chris Hamros, President and CFO, Ryan Gopal, and SVP Corporate Controller Wendy Shapiro. Please be advised this conference call will contain statements that are considered forward-looking statements under the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain known and unknown risks and uncertainties as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. These forward-looking statements are also subject to other risks and uncertainties that are described from time to time in the company's filings with the SEC. Do not place undue reliance on any forward-looking statements which are being made only as of the date of this call. Except as required by law, the company undertakes no obligation to publicly update or revise any forward-looking statements. Four important risks and assumptions associated with such forward-looking statements, please refer to the company's earnings press release for the second quarter of 2025 and the company annual report on Form 10-K for the year ended December 31st, 2024. The company's presentation also includes certain non-GAAP financial measures, including EBITDA and EBITDAR, as supplemental measures of performance of the business. All non-GAAP measures have been reconciled directly comparable gap measures in accordance with SEC rules. You will find the reconciliation tables and other important information in the earnings press release for the second of 2025, which is available on the company's investor relations section of its website. And now, I will turn the call over to the company's executive chairman, Chris Hamros. Chris, please go ahead.
Thank you, Operator, and good afternoon, everyone.
I'm pleased to report a sequentially strong quarter for Global Crossings as we continue to build on momentum established earlier this year. In Q2, we delivered top-line growth, record block hours flown, and a significant improvement in cash flow provided by operating activities, underscoring the strength of our business model, now commitment to operational excellence. During the quarter, we expanded our fleet to meet rising customer demand while maintaining strong utilization levels, demonstrating the versatility of our pricing model and our continued focus on discipline growth. We also took a strategic step to introduce a hybrid ownership model through the acquisition of our first aircraft in July. This initiative, coupled with signing lease agreements for four additional aircraft, strengthens our growth trajectory and fleet capacity. These strategic additions ensure we are well positioned to deepen relationships with key customers and capitalize on new opportunities, strengthening our competitive edge in priority markets. To provide context for our broader journey, 2024 was our year of stabilization. We focused on building the foundation of a full-fledged charter airline. 2025 is our year of maturation and execution. We are delivering on the path to sustainable profitability and demonstrating consistency half of the year. 2026 is expected to be our year of scaling up profitably, as the timing of new aircraft deliveries is expected to enable us to expand our platform and capture the full potential of the business we've built. Looking ahead, we remain focused on improving corporations, expanding customer partnerships, and enhancing our reputation for excellence, consistency, and reliability. Together, these efforts are expected to solidify our position as the trusted charter airline of the industry. Brian and Wendy will expand on the quarter in more detail, more entirely. I want to reaffirm our commitment to executing our strategic plan and creating long-term value for our customers, partners, and shareholders. Our focus is clear. Execute with purpose and consistency as we work to become the largest, most reliable narrow-body charter airline in North America. With that, I will now hand it over to our President and CFO, Ryan Gopal, to elaborate on global crossing second quarter operational highlights. Brian.
You're reading a preview of the JETMF Q2 2025 earnings call.
Free account.
