Global Crossing Airlines Group Inc. (JET: NEO; JET.B: NEO; JETMF: OTCQB), also known as GlobalX, has received approval from the U.S. Federal Aviation Administration (FAA) to commence revenue cargo flights with its A321 passenger to freighter (P2F) aircraft, pending final FAA-approved documentation.
Ed Wegel, CEO and chair of Global Crossing, said the approval was a «tremendously significant milestone» for the company. GlobalX plans to diversify its revenue streams and maximize the use of all its assets through its expansion into the cargo market.
The carrier currently has one A321F aircraft and expects to receive another by mid-March, with a third to be delivered in May. The company plans to take delivery of six A321F aircraft in 2023 and two in 2024. Additionally, the company is working to finalize leases for five more A321F aircraft to be delivered in 2024-2025 and is pursuing letters of intent for two additional aircraft.
The A321 P2F offers a capacity of fourteen containers on the upper deck and ten on the lower deck, which is 55% more containerized volume than the Boeing 737-800 freighter and 14% more than the Boeing 757-200 freighter. It also has an estimated 19% lower fuel burn than the Boeing 757-200 freighter, positioning the A321 freighter as a dominant player in the narrowbody cargo market.
