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Global crossing airlines director sells $184,625 in stock

Published 06/02/2025, 02:38
Global crossing airlines director sells $184,625 in stock
JETMF
-1.63%

Deborah Wallis Robinson, a director at Global Crossing Airlines Group Inc. (OTC:JETMF), has recently reported a series of stock sales amounting to $184,625. The transactions occurred between August 6 and August 12, 2024, with share prices ranging from $0.55 to $0.85. According to InvestingPro data, the stock has shown remarkable momentum, gaining over 66% year-to-date and trading near its 52-week high.

The sales began on August 6, when Robinson sold 21,000 shares at $0.85 each. This was followed by another sale of 21,000 shares on August 7 at $0.82 per share. On August 8, she sold a total of 8,500 shares, with 4,500 shares priced at $0.59 and the remaining 4,000 shares at $0.80.

Further sales were made on August 9, when she sold 2,000 shares at $0.55 and 12,000 shares at $0.80. The final transactions took place on August 12, with Robinson selling 128,000 shares at $0.80 and 51,000 shares at $0.60.

Following these transactions, Robinson holds 97,944 shares of the company’s common stock. Based on InvestingPro’s Fair Value analysis, the stock is currently trading near its Fair Value, despite facing challenges with debt obligations and short-term liquidity.

In other recent news, Global Crossing Airlines (GlobalX) reported a significant 23% rise in Q3 2024 revenue to $52.4 million, attributed to increased block hours flown and fleet expansion. Despite a net loss of $4.9 million, the company’s EBITDAR nearly doubled. Looking forward, GlobalX forecasts a strong Q4, with revenue projections between $55 million to $61 million. The company also plans to expand its fleet, expecting a 19th aircraft by December 2024 and has secured contracts with over 10 college basketball teams for the upcoming season. However, operational challenges in September temporarily grounded 35% of the fleet and charter revenue has fallen due to a strategic shift toward higher-margin ACMI services. Despite these challenges, GlobalX booked a record 8,064 block hours, a 17% increase from the previous year and continues to pursue fleet expansion. These are recent developments in the company’s strategic shifts and performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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