Global Crossing Airlines Group (NEOE:JET) Long-Term Capital Lease Obligation : C$127.6 Mil (As of Mar. 2024)

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What is Global Crossing Airlines Group Long-Term Capital Lease Obligation?

Global Crossing Airlines Group's Long-Term Capital Lease Obligation for the quarter that ended in Mar. 2024 was C$127.6 Mil.

Global Crossing Airlines Group's quarterly Long-Term Capital Lease Obligation increased from Sep. 2023 (C$69.6 Mil) to Dec. 2023 (C$87.4 Mil) and increased from Dec. 2023 (C$87.4 Mil) to Mar. 2024 (C$127.6 Mil).

Global Crossing Airlines Group's annual Long-Term Capital Lease Obligation increased from Dec. 2021 (C$25.8 Mil) to Dec. 2022 (C$31.5 Mil) and increased from Dec. 2022 (C$31.5 Mil) to Dec. 2023 (C$87.4 Mil).

Global Crossing Airlines Group Long-Term Capital Lease Obligation Historical Data

The historical data trend for Global Crossing Airlines Group's Long-Term Capital Lease Obligation can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Global Crossing Airlines Group Long-Term Capital Lease Obligation Chart

Global Crossing Airlines Group Annual Data

Trend

Apr14

Apr15

Apr16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Long-Term Capital Lease Obligation

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2.45

25.76

31.50

87.42

Global Crossing Airlines Group Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Long-Term Capital Lease Obligation	Get a 7-Day Free Trial															50.30	72.36	69.59	87.42	127.60

Global Crossing Airlines Group (NEOE:JET) Long-Term Capital Lease Obligation Explanation

Long-Term Capital Lease Obligation are the amount due for long-term asset lease agreements that are nearly equivalent to asset purchases. Capital lease obligations are installment payments that constitute a payment of principal plus interest for the capital lease. The Short-Term Capital Lease Obligation is the portion of a Long-Term Capital Lease Obligation that is due over the next year.

Under US Generally Accepted Accounting Principles (GAAP), a capital lease is essentially equivalent to a purchase by the lessee if it meets the following criteria:

1. Ownership of the asset is transferred to the lessee at the end of the lease term;
2. The lease contains a bargain purchase option to buy the equipment at less than fair market value;
3. The lease term equals or exceeds 75% of the asset's estimated useful life;
4. The present value of the lease payments equals or exceeds 90% of the total original cost of the equipment.

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Global Crossing Airlines Group (NEOE:JET) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Global Crossing Airlines Group Inc (NEOE:JET) » Definitions » Long-Term Capital Lease Obligation

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Traded in Other Exchanges

JETBF:USA JETMF:USA JET.B:Canada

Address

4200 NW 36th Street, Building 5A, Miami International Airport, Miami, FL, USA, 33166

Website

https://www.globalairlinesgroup.com

Global Crossing Airlines Group Inc is an airline operator for both narrow and widebody aircraft around the world, utilizing the efficiencies of an Airbus A320/321 fleet. The company operates wet lease and ACMI flights for airlines and charter operations for tour operators, professional and college teams, and other groups.

Executives

Ryan Goepel

Director, Senior Officer

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