Global Crossing Airlines Group Inc.

Good morning, ladies and gentlemen. Thank you for standing by. Welcome to today's conference call to discuss Global Crossing Airlines financial results for the third quarter of 2026. At this time, all participants are on a listen-only mode. As a reminder, this conference is being recorded. Joining us on the call today are the company's Executive Chairman, Chris Jamroz, President and CFO, Ryan Goepel, SVP, Corporate Controller, Wendy Shapiro, and Investor Relations Advisor, Aaron DeSouza. Please be advised that 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. For important risks and assumptions associated with such forward-looking statements, please refer to the company's earnings press release for the third quarter of 2026 and the company's annual report on Form 10-K for the year ended December 31, 2025. 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 to the most directly comparable GAAP measures in accordance with SEC rules. You will find reconciliation tables and other important information in the earnings press release for the third quarter of 2026, which is currently 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 Jamroz. Chris, please go ahead.

Thank you, operator, and good morning, everyone. GlobalX delivered another strong quarter with revenue up 24% year over year, operating income up fourfold and approximately $9 million in cash flow from operations. The quarter demonstrated the progress we're making in building a more scalable, efficient airline. A larger available fleet, robust passenger demand, and the stronger operating execution helped translate our platform investments into gains in profitability and cash generation. More broadly, the quarter reinforced an important point about our flexibility. We have built a platform that lets us deploy aircraft strategically and tactically towards the most attractive opportunities across our sales channels with an emphasis on revenue quality, long-term profitability and building a loyal customer base in our focus markets. During Q3, we deliberately shifted aircraft toward higher-value domestic flying, prioritizing it over certain seasonal contracts and deploying our fleet where it earns the greatest return rather than simply maximizing utilization. That drove stronger revenue per block hour and a more accretive business mix. Demand across our car passenger markets remained robust. supported by a diversified customer base spanning professional and collegiate sports, government, and entertainment. In the quarter, major sporting events and high-profile concert tours contributed strongly, underscoring the breadth of our customer base and the demand for our specialized charter services. Our ability to serve these diverse markets remains a meaningful strength of the GlobalX platform. We also improved aircraft availability throughout the quarter as we worked through the concentrated maintenance schedule we discussed last quarter. Our teams have continued to strengthen maintenance planning, improve operational reliability, and invest in systems and people required to support a larger fleet. That work is building a more capable operating platform and giving us greater flexibility to meet customer demand. We also advanced our fleet expansion and modernization program putting two additional Airbus A320 aircraft into revenue service following quarter end and securing younger airframes to support the next phase of growth. We see an opportunity to improve the reliability and earnings capacity of our fleet while spreading the infrastructure and fixed costs we've already built across a larger operating base. We believe that's an important driver of long-term operating leverage. Looking ahead, we continue to see meaningful opportunities across our passenger markets. We are committed to becoming the largest and most reliable narrow-body charter airline in North America. We believe our disciplined approach to fleet expansion, robust demand across our core passenger markets, the operational foundations we have established, and our platform's operating leverage position our business to keep growing, meaningfully improve long-term profitability, and create sustainable long-term value for shareholders. With that, I will hand the call over to our President, CFO, Ryan Goepel, to discuss our third quarter operational highlights in greater detail. Ryan?

Thank you, Chris, and good morning, everyone. Our third quarter results reflected improved aircraft availability, a more favorable mix of flying, and continued strength in our core passenger markets. Following the concentrated maintenance activity in the second quarter, we had more aircraft available to meet customer demand. At the same time, we prioritized flying opportunities with attractive revenues and contract economics, which support stronger operating performance. Operationally, net available aircraft increased 14% year-over-year to 18.1 compared to 15.9 in Q3 last year and 15.3 in the second quarter of this year. We discussed the target of 19 to 20 in Q3, which was affected by the delays in securing regulatory approvals for two of the aircraft we delivered. Those entered service in October. In Q4, we expect net available aircraft to average between 20 and 21, driving improved expected results in the final reporting period of 2026. Total block hours including subservice increased 1% to 9,965 compared to 9,901 the prior year quarter. Within that total, charter block hours increased materially to 825 compared to 178 in Q3 2025. ECMI block hours were 8,819 compared to 9,527 a year ago. ECMI represents 88% of total block hours compared to 96% in the prior year quarter. But the more important change is the revenue per hour that the mix generated. In Q3 last year we operated seasonal ACMI contracts that generally provided substantial guaranteed minimum flying hours at lower per hour rates. This year we kept our aircraft focused on domestic opportunities and offered strong per hour economics. That transition is why average utilization was about 550 hours per aircraft down from 618 last year. We continue to deploy our aircraft we believe that they can generate the highest and best use rather than simply maximizing total hours flown. From a unit economics perspective, charter revenue per block hour increased approximately 25% to $16,300 compared to $13,000 in Q3 2025. This is indicative of fuel rates that have increased, which helps drive the charter price. ACMI revenue per block hour increased approximately 12% to $6,300 compared to $5,600. We will continue to evaluate each opportunity based on the combination of contracted hours, rates, operating requirements, and the overall economics of flying. starting to maintenance. We completed one heavy and 12 non-heavy maintenance events in the third quarter, compared with five heavy and 16 non-heavy maintenance last quarter. Completing much of the concentrated work schedule we discussed in our previous call helped restore aircraft availability. We have three heavy maintenance events or about one per month each scheduled in Q4, which is factored into our net available aircraft outlook. Routine maintenance parts and repairs will continue to reflect our operating fleet size and flying activity and reliability remains a priority as we expand. We also continue building the staffing and operational capability needed to support the additional aircraft. Notably, pilot headcount increased 31% year-over-year to 186, helping along crew resources with fleet expansion. Alongside our maintenance planning, that investment in people is an important part of bringing new aircraft into service and keeping them productive. Turning to fleet expansion, two additional Airbus A320 began revenue service in October. Separately, we took delivery of one of three former Spirit Airlines A320 pasture airframes and related engines, which is expected into revenue service in November. The last two spirit airframes are ongoing heavy maintenance, with the timing of their addition to revenue service expected in late 2026, early 2027. These additions expand on our ability to continue to meet the demand across the pasture business. We remain focused on improving the quality of our fleet as we add capacity. The availability of younger Airbus aircraft creates opportunities to modernize our fleet on attractive terms while we carefully consider acquisition and lease economics, maintenance requirements, and expected customer demand. Over time, we believe a more modern, reliable fleet can better support availability and more consistent operating performance. Turning to customer demand. Our passenger markets remain strong during this third quarter. We provide flying in support of a major soccer tournament and operated charter services for two high-profile culture tours. Together with our established relationships in collegiate and professional sports, government and other airlines, these assignments demonstrated the breadth of the markets we can serve and the flexibility of our charter platform. Cargo operations continues to be a financial drag as conditions in the broader freight market remain challenging. We have concentrated our cargo activity in Miami and continue to fly selectively where economics make sense to humanize the impact on the overall business. We expect opportunities during the seasonal holiday to peak, but consider cargo not to be a core growth target for our business on a go-forward basis. Looking ahead, we are focused on bringing additional aircraft into revenue service, maintaining reliability and matching available fleet to the growing customer demand. We continue to target a fleet of 25 by year-end subject to the timing of conformity work, corrosion mitigation of two aircraft to be delivered, entry into service requirements and operating needs. We will continue to allocate capacity towards the opportunities that offer the strongest economics. With that, I turn the call over to our SVP Corporate Controller, Wendy Shapiro, who will discuss our third quarter financial results in more detail.