Cargojet earns an operating profit of C$2.7 million for the first quarter

Cargojet Inc. (Cargojet Airways) (Hamilton) announced today financial results for the first quarter ended March 31, 2013 .

For the First Quarter Ended March 31, 2013:

  • Total Revenues were $40.7 million, an increase of $0.6 million or 1.5% versus the previous year.
  • Gross Margin was $4.9 million, a decrease of of $0.6 million or 10.9% versus the previous year
  • EBITDA was $2.7 million (all amounts in Canadian dollars), an increase of $0.8 million or 42.1% versus the previous year

“We are very pleased with the improvement in financial and operating results, as compared to the previous year, despite two less operating days in the quarter”, said Ajay K. Virmani, President and Chief Executive Officer.  “We continue to see modest improvements in demand and volumes from all revenue sectors, although overall yields and pricing remain under pressure”. “We will continue to manage our cost prudently and gain efficiencies where available”, he concluded.

Copyright Photo: Rainer Bexten. Boeing 767-223 (F) C-FMCJ (msn 22316) makes a stop at Cologne/Bonn.

Cargojet: AG Slide Show

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European Routes:

Cargojet 5:2013 European Routes