Global Crossing Airlines closes $35 million financing with Axar Capital Management

Global Crossing Airlines Group has announced the closing of the placement of $35 million of Senior Secured Notes due 2029 Financing with funds managed by Axar Capital Management LLP and its affiliates, a value-oriented alternative investment firm with over US$2.3 billion in assets under management. As part of the financing, Andrew Axelrod, founder and managing partner, Axer, will join the Board of Directors of GlobalX on August 3, 2023 “GlobalX is excited to welcome Axar as our financing partner as we continue to expand our fleet and capitalize on the growth that our platform is driving. Axar’s experience in the