Strong second quarter for Canada’s Cargojet

Canadian overnight air cargo operator Cargojet said its total revenues were up 11.2% over the previous year to $88.2m, in its results for the quarter ended June 30.
Adjusted EBITDA earnings were up 9.3% over the previous year, at $24.6m. The company said revenues were up on increased volumes from existing overnight customers, contractual annual price increases related to the consumer price index and fuel surcharges. This was partially offset by a decrease in charter revenues.
President and chief executive Officer, Ajay Virmani, said the increase in was due to Cargojet’s strategy to improve aircraft utilisation and to maximise margins.
He added: “We continue to prudently manage our operating costs and look for further route network optimization opportunities.”
Cargojet handles around m1.3 million lbs of cargo every business night across North America on its fleet of 18 all-cargo aircraft.
Read more freighter operator news

Share this story

Related Topics

Latest americas news

Latin American air cargo recovers with a vengeance

Demand faltered in Latin America during Covid but has bounced back this year and carriers are keen to capitalise, explains…

Read More

Share this story

Putzger perspective: Airport bottlenecks

US airports are set to plough government funding into passenger facilities but neglect cargo, writes Ian Putzger. The supply chain…

Read More

Share this story

Amazon Air adds flights to Manchester-Boston Airport

By Damian Brett

Amazon Air has launched a daily cargo service between Manchester-Boston Regional Airport (MHT) and Cincinnati/Northern Kentucky International Airport (CVG). The…

Read More

Share this story