Air Transport Services Group, Inc. (Wilmington, Ohio), the sister company of ABX Air and ATI, has announced it has signed a new agreement with Cargojet Airways (Hamilton, Ontario), Canada’s cargo airline, to lease two Boeing 767-200 ER freighters.
Cargojet currently dry-leases two Boeing 767-200 freighters from ATSG’s subsidiary Cargo Aircraft Management Inc. (CAM) under long-term agreements. Cargojet has signed agreements to dry-lease an additional two Boeing 767-200 freighters from CAM, for up to three years. The first aircraft is expected to be delivered by the end of the second quarter, with the second aircraft delivering early in the third quarter.
Cargojet is currently in the process of a fleet renewal plan. Leasing these two additional 767-200 freighters is part of the company’s current growth strategy. The cargo airline is gearing up its fleet for the upcoming Canada Post/Purolator contract. The airline is also phasing out its Boeing 727 freighter fleet, one of the last operators of the trijet in North America.
Copyright Photo: Reinhard Zinabold/AirlinersGallery.com. Formerly operated by American Airlines, Boeing 767-223 (F) C-FMCJ (msn 22316) is pictured landing at the Hamilton base.
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.