Tag Archives: C-FMCJ

Cargojet announces strong first quarter results

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.

Cargojet aircraft slide show:

Cargojet Airways leases two Boeing 767-200 ERF freighters from Air Transport Services Group

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: