Category Archives: Cargojet Airways

Cargojet announces strong first quarter results

Cargojet Airways Boeing 767-223 (F) C-FMCJ (msn 22316) CGN (Rainer Bexten). Image: 941802.

Cargojet Inc. announced today financial results for the quarter ended March 31, 2018.

For the First Quarter Ended March 31, 2018:

  • Total Revenues were $99.2 million, an increase of $12.1 million or 13.9% versus the previous year
  • Gross Margin was $23.1 million, an increase of $2.2 million or 10.5% versus the previous year
  • Adjusted EBITDA was $27.5 million, an increase of $5.2 million or 23.3% versus the previous year
  • Adjusted EBITDAR was $29.8 million, an increase of $3.4 million or 12.9% versus the previous year

“Cargojet is very pleased with the continued revenue growth and margin improvements achieved during the quarter” said Ajay Virmani, President and Chief Executive Officer.  “We continue to carefully manage our operating costs and focus on greater utilization of our fleet.” he added.

Cargojet is Canada’s leading provider of time sensitive overnight air cargo services and carries approximately 1,300,000 pounds of cargo each business night. Cargojet operates its network across North America each business night, utilizing a fleet of 19 all-cargo aircraft. The Corporation operates over 12,000 flight legs yearly and has a team of over 900 dedicated professionals.

Copyright Photo: Cargojet Airways Boeing 767-223 (F) C-FMCJ (msn 22316) CGN (Rainer Bexten). Image: 941802.

Cargojet aircraft slide show:

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Cargojet announces strong fourth quarter and 2017 results

Cargojet Airways Boeing 757-23APF C-FLAJ (msn 24567) YYC (Chris Sands). Image: 932427.

Cargojet Inc. announced its financial results for the fourth quarter and year ended December 31, 2017.

For the Fourth Quarter Ended December 31, 2017:

  • Total Revenues were $118.2 million, an increase of $24.1 million or 25.6% versus the previous year
  • Gross Margin was $37.4 million, an increase of $9.9 million or 36.0% versus the previous year
  • Adjusted EBITDA was $37.3 million, an increase of $9.4 million or 33.7% versus the previous year
  • Adjusted EBITDAR was $40.1 million, an increase of $7.8 million or 24.1% versus the previous year

For the Year Ended December 31, 2017:

  • Total Revenues were $382.9 million, an increase of $51.9 million or 15.7% over the previous year
  • Gross Margin was $106.3 million, an increase of $20.5 million or 23.9% versus the previous year
  • Adjusted EBITDA was $109.5 million, an increase of $16.4 million or 17.6% versus the previous year
  • Adjusted EBITDAR was $122.9 million, an increase of $9.6 million or 8.5% versus the previous year

“We are very pleased with the strong financial results achieved in the fourth quarter.” said Ajay Virmani, President and Chief Executive Officer. “We continue to execute our plan to optimize our overnight network and to improve aircraft utilization while meeting the growing demands of e-commerce activity” he added. “These results are a testament to the tremendous efforts of the entire Cargojet team as we continue to focus on prudent cost controls and revenue growth while continuing to provide a value added service to our customers.”

Cargojet is Canada’s leading provider of time sensitive overnight air cargo services and carries over 1,300,000 pounds of cargo each business night. Cargojet operates its network across North America each business night, utilizing a fleet of all-cargo aircraft.

Copyright Photo: Cargojet Airways Boeing 757-23APF C-FLAJ (msn 24567) YYC (Chris Sands). Image: 932427.

Cargojet aircraft slide show:

Cargojet to start Hamilton – Miami – Bogota cargo flights

Cargojet Airways Boeing 767-328 ER (F) C-GVIJ (msn 27212) SVO (OSDU). Image: 931321.

Cargojet Airways will add a new cargo route linking its Hamilton, ON cargo hub with Bogota via Miami. The new route will add to its existing network (see below).

The new service will commence on March 16 and will be operated with Boeing 767-300F freighters and will operate two days a week.

Top Copyright Photo (all others by Cargojet): Cargojet Airways Boeing 767-328 ER (F) C-GVIJ (msn 27212) SVO (OSDU). Image: 931321.

Cargojet aircraft slide show:

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Cargojet announces scheduled international freighter service

Cargojet Airways Boeing 767-328 ER (F) C-GVIJ (msn 27212) SVO (OSDU). Image: 931321.

Cargojet Airways has announced their scheduled freighter service between Canada and South America and a second frequency between Canada and Europe starting on February 2, 2018.

Cargojet will begin operating its own scheduled Boeing 767-300F freighter aircraft twice per week on the following schedules:

Hamilton, ON to/from Bogota, Colombia and Lima, Peru via Altanta, Georgia and will operate Fridays and Sundays.

Hamilton, ON to/from Cologne, Germany will operate on Saturdays with continued connectivity through the Cargojet network.

Copyright Photo: Cargojet Airways Boeing 767-328 ER (F) C-GVIJ (msn 27212) SVO (OSDU). Image: 931321.

Cargojet aircraft slide show:

Air Canada and Cargojet will not extend their agreement

Cargojet Airways Boeing 767-328 ER (F) C-GVIJ (msn 27212) SVO (OSDU). Image: 931321.

Air Canada Cargo has issued this statement:

The agreement between Air Canada and Cargojet will expire at the end of 2017 and will not be extended. As such, dedicated freighter service will be terminated to and from Mexico, Dallas-Fort Worth, Atlanta, Bogota, Lima and Frankfurt.

Air Canada Cargo will continue to offer our complete range of cargo services on widebody passenger flights in most of those markets. Air Canada will be adding daily 767 passenger flights between Canada and Mexico, and three additional weekly frequencies between Canada and Lima in 2018.

We will continue to offer our extensive trucking network facilitating connections to widebody flights out of US cities like Miami, Fort Lauderdale/Hollywood, Orlando, Los Angeles, San Francisco and Newark or connect to widebody flights out of Vancouver, Calgary, Toronto and Montreal.

Copyright Photo: Cargojet Airways Boeing 767-328 ER (F) C-GVIJ (msn 27212) SVO (OSDU). Image: 931321.

Cargojet:

Cargojet starts operating for Air Canada Cargo

Cargojet starts operating for Air Canada Cargo

Air Canada issued this statement:

Air Canada Cargo and Cargojet Airways Ltd., a subsidiary of Cargojet Inc. commenced cargo service on June 10, 2016 with the first freighter flight to Bogota, Colombia and Lima, Peru , operated with a Cargojet Boeing 767-300F aircraft.

The new Air Canada Cargo flights will provide 52 tons of net cargo capacity and will also include flights to Mexico City , starting this coming weekend.

Under the arrangement, Air Canada Cargo plans to introduce dedicated freighter service to Europe from Toronto in the second half of 2016.

Copyright Photo: Cargojet Airways Boeing 767-328 ER (F) C-GVIJ (msn 27212) SVO (OSDU). Image: 931321.

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Cargojet and UPS Canada enter into a long-term cargo relationship

Cargojet Airways (Hamilton) has announced the company has entered into a new Air Cargo Service Agreement with United Parcel Service Canada Ltd. (UPS). This Agreement replaces the agreement originally entered into in 2003 to provide domestic overnight air cargo services throughout Canada.

The initial term of the agreement is for a ten-year period with two, three-year renewal options.

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Cargojet is Canada’s leading provider of time sensitive overnight air cargo services and carries over 1,000,000 pounds of cargo each business night. Cargojet operates its network across North America each business night, utilizing a fleet of all-cargo aircraft consisting of 5 Boeing 767-300 ER, 5 Boeing 767-200 ER, 5 Boeing 757-200 and 9 Boeing 727-200F aircraft.

Copyright Photo: Chris Sands/AirlinersGallery.com. Cargojet is one of the last operators of the Boeing 727 in Canada. Boeing 727-223 (F) C-GCJY (msn 22460) departs from Calgary.

Cargojet aircraft slide show: AG Airline Slide Show

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