Cargojet continues international expansion with 21Air investment
12 / 08 / 2021
By Damian Brett
Cargojet has invested in a minority share of US freighter operator 21Air as it looks to grow internationally.
Cargojet will acquire a 25% interest in 21Air and will “continue to collaborate with 21Air on mutually beneficial opportunities in this expanding air cargo market”.
21Air is certified by the US Federal Aviation Administration (FAA) as a Part-121 air carrier presently operating a fleet of five Boeing 767 all-cargo aircraft.
The company provides charter, ACMI, and CMI services to air cargo consolidators, freight forwarders, couriers, and integrators, including Cargojet.
“This transaction is in line with Cargojet’s previously announced international growth strategy. This investment further demonstrates our ambition to build a more diversified and robust global footprint with strategic partnerships,” said Ajay Virmani, president and chief executive.
Earlier this year Cargojet announced that it would acquire B777 freighters as it looked to grow its international business. The first of the widebody freighters are due to join the fleet in 2023.
The airline’s fleet currently consists of B767 and B757 aircraft.