Global Crossing Airlines, doing business as GLOBALX (Miami Int'l), has signed a letter of intent (LOI) with two affiliates of Singapore Paya Lebar-based technology, defence, and engineering group ST Engineering to convert five A321 passenger aircraft into freighters.

Under the deal with MRO specialist ST Engineering Aerospace America, one of the group’s subsidiaries, and Elbe Flugzeugwerke, the group’s joint venture with Airbus, the aircraft will be converted at ST Engineering’s facilities, subject to signing definitive agreements and the completion of the acquisition of the aircraft, Global Crossing said in a statement on September 23.

The Miami-headquartered start-up elaborated that it had signed the LOI to acquire an initial four A321s “from a major European airline” and is working on additional A321 acquisitions. The letter of intent forecasts delivery of these four aircraft by the third quarter of 2021.

GLOBALX describes itself as a new-entrant airline in its FAA certification phase intending to use A320 Family aircraft as an ACMI and wet-lease charter airline serving the US, Caribbean, and Latin American markets.