Global Crossing Airlines (GlobalX) CEO Ed Wegel, via The Howard Group Canada official YouTube channel, stated (29-Jul-2020) the carrier plans to secure contracts for 10 passenger A320s and five to 10 cargo A320s during the "next six months", for "both current and future needs through the end of 2022". He noted: "The market now is in great favour for the lessee or the buyer of aircraft, and we think this situation will continue for at least the next 12 to 18 months". The COVID-19 situation is expected to result in "significantly reduced cash deposit requirements for aircraft" and "lower overall capped lease rates". GlobalX is involved in the following deals:
- First deal: Contract for one aircraft from major US airline, "with an option for a second which we probably will exercise". Acquisitions are expected to be completed by the middle of Aug-2020. Aircraft feature Gogo WiFi and seat back entertainment, and GlobalX has the ability to acquire "up to an additional eight aircraft under this financing";
- Second deal: Negotiations for four A320s;
- Third deal: Negotiations for one A321 to be operated on services to Cuba and from Canada to Florida, under a two year lease deal. GlobalX is working with the lessor "to convert that aircraft to freighter so we can start our cargo operations".