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Global Crossing Airlines Signs Cooperation Agreement with Estelar Airlines

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Newsfile Corp.
·5 min read
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Miami, Florida--(Newsfile Corp. - February 17, 2021) -  Global Crossing Airlines Group Inc. (TSXV: JET) (OTCQB: JETMF) (the "Company" or "GlobalX") is pleased to announce that it has signed a cooperation agreement with Estelar Airlines based in Caracas, Venezuela (the "Agreement"). Under the terms of the Agreement, the two airlines will work closely to re-establish daily non-stop service from Miami to Caracas and three flights per week to Maracaibo, with GlobalX Airbus A320 aircraft.

Currently, direct air service between the US and Venezuela is prohibited under US government and Dept. of Transportation orders. GlobalX anticipates that these restrictions will be removed over the next few months. Accordingly, GlobalX has retained Mercury LLC, a public policy firm based in Washington DC to assist with consultations with the US government and to ensure compliance with all applicable government restrictions.

"We look forward to working with the owners and management of Estelar, in accordance with all regulatory and governmental regulations, to help them re-establish their services to Miami." said Ed Wegel, Chair and CEO of GlobalX.

About Global Crossing Airlines Group
GlobalX is a new entrant airline now in FAA certification using the Airbus A320 family aircraft. Subject to FAA and DOT approvals, GlobalX intends to fly as an ACMI and wet lease charter airline serving the US, Caribbean and Latin American markets. For more information please visit www.globalxair.com.

About Mercury
Mercury is a high-stakes, bipartisan public strategy firm. The firm provides a comprehensive suite of services that includes federal government relations, international affairs, digital influence, public opinion research, media strategy and a bipartisan grassroots mobilization network in all 50 states. Our firm is not just led by top talent - we distinguish ourselves by having senior talent deeply engaged in each project from start to finish, a promise we keep to clients. The firm has an established global presence, with U.S. offices in Washington, D.C., New York, California, New Jersey, Ohio, Pennsylvania, Florida, Montana, Texas, Iowa, South Carolina and Tennessee, as well as international offices in London and Mexico City. Mercury is a part of the Omnicom Public Relations Group.

For more information, please contact:

Mark Salvador
Chief Marketing Officer
Global Crossing Airlines Group, Inc
786-751-8510
Mark.salvador@globalxair.com

Jeff Walker
Vice President
The Howard Group Inc.
Email: jeff@howardgroupinc.com
Tel: 403.221-0915
Toll Free: 1-888-221-0915

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" concerning anticipated developments and events that may occur in the future. Forward-looking information contained in this news release includes, but is not limited to, statements with the use of proceeds of the Offering, the Company's intention to fly as an ACMI and wet lease charter airline, the destinations of its intended charter flights, the completion of the FAA certification process, the details of the agreement with Estelar Airlines and the removal of air travel restrictions to Venezuela.

In certain cases, forward-looking information can be identified by the use of words such as "plans", "expects" "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or " or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. Forward-looking information contained in this news release is based on certain factors and assumptions regarding, among other things, the receipt of financing to commence airline operations, the accuracy, reliability and success of GlobalX's business model; the timely receipt of governmental approvals; GlobalX concluding a definitive agreement for the Aircraft; the timely commencement of operations by GlobalX and the success of such operations; the legislative and regulatory environments of the jurisdictions where GlobalX will carry on business or have operations; the impact of competition and the competitive response to GlobalX's business strategy; the timely removal of air travel restrictions to Venezuela and the availability of aircraft. While the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect.

Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include risks related to, the ability to obtain financing at acceptable terms, the impact of general economic conditions, domestic and international airline industry conditions, the failure of the Company to conclude a definitive agreement to acquire the Aircraft, the impact of the global uncertainty created by COVID-19, future relations with shareholders, volatility of fuel prices, increases in operating costs, terrorism, pandemics, natural disasters, currency fluctuations, interest rates, risks specific to the airline industry, the ability of management to implement GlobalX's operational strategy, the ability to attract qualified management and staff, labour disputes, regulatory risks, including risks relating to the acquisition of the necessary licenses and permits; the risk the removal of air travel restrictions to Venezuela is delayed or does not occur; and the additional risks identified in the "Risk Factors" section of the Company's reports and filings with applicable Canadian securities regulators. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those described in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release. Except as required by applicable securities laws, the Company does not undertake any obligation to publicly update any forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/74638