v3.25.2
Basis of Presentation and Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Details of Company's Subsidiaries

Subsidiaries Name

Place of incorporation

Interest %

Principal activity

Global Crossing Airlines Holdings, Inc.

Delaware, United States

100% ownership by Global Crossing Airlines Group Inc

Holding company

Global Crossing Airlines, Inc

Delaware, United States

100% ownership by Global Crossing Airlines Holdings Inc

US 121 Charter company

GlobalX Travel Technologies, Inc

Delaware, United States

80% ownership by Global Crossing Airline Holdings Inc

Acquire and develop travel technology

UrbanX Air Mobility, Inc

Delaware, United States

100% ownership by Global Crossing Airlines Holdings Inc

Air Charter operator

Global Crossing Airlines Operations, LLC

Florida, United States

100% ownership by Global Crossing Airlines Inc

Operating Company

LatinX Air S.A.S.

Ecuador

100% ownership by Global Crossing Airlines Inc

Air Charter operator

GlobalX Air Tours, LLC

Florida, United States

100% ownership by Global Crossing Inc

Air Charter service

Charter Air Solutions, LLC

Montana, United States

80% ownership by the Global Crossing Airlines Holdings Inc.

Charter Broker

Schedule of Property And Equipment Depreciated On A Straight-line Basis To An Estimated Residual Value

Property and equipment are recorded at cost at the Acquisition Date and depreciated on a straight-line basis to an estimated residual value over their estimated useful lives or lease term, whichever is shorter, as follows:

 

Leasehold Improvements, Aircraft, other

 

1-10 years (or life of lease, if shorter)

Office and Ground Equipment

 

5 years

Computer Hardware and Software

 

3-5 years

Property and Equipment under Finance Leases

 

5-30 years (or life of lease, if shorter)

Rotable Parts

 

Average remaining life of aircraft fleet, currently estimated to be 53 months

Components of Property and Equipment, net

The components of property and equipment, net are as follows:

 

 

December 31,

 

 

2024

 

 

2023

 

Rotable Parts

$

6,657

 

$

3,069

 

Computer Hardware and Software

 

 

1,303

 

 

 

1,477

 

Leasehold Improvements, Aircraft, Other

 

2,880

 

 

972

 

Office and Ground Equipment

 

 

1,289

 

 

 

634

 

Less: Accumulated Depreciation

 

(1,821

)

 

(627

)

Total Property and Equipment, Net

 

$

10,308

 

 

$

5,525