Cargojet revenue rise
02 / 03 / 2015
Canada-based Cargojet saw 2014 second quarter revenues up 3.7 per cent to C$44.3 million, due primarily to the increase in core overnight volumes and higher ACMI income.
Cargojet provides time sensitive overnight air cargo services and operates a network across North America, as well as global air charters.
President & chief executive Ajay Virmani said: "We are extremely encouraged by the continued strong revenue growth and positive trend shown in overall air cargo demand this quarter.
“One-time start-up costs, including the introduction of new aircraft and resources totalling C$2.3 million were incurred in the quarter. These are required to meet the needs of our previously announced major new contract and the expansion of our overnight network in early 2015."
The expansion is a result of Cargojet winning the contract to provide all the freighter lift for Canada Post, as well as for Purolator, Canada Post’s courier company.
Cargojet currently operates three leased B757-200ER aircraft, two leased B767-200ERs and ten Boeing 727-200s, owned by the company.
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