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

AN-124 utilised for 80 tonne shipment to Chile

Antonov Airlines, NEO Air Charter and forwarder Logwin have teamed up to move two huge parts for a wood production…

Read More

Share this story

Atlas Air secures funding to add more 747 freighters

Atlas Air has secured financing for the purchase of three Boeing 747-400 freighters to support e-commerce customers. The airline secured…

Read More

Share this story

Air Inuit takes delivery of 737-800 freighter

Air Inuit has added a Boeing 737-800 converted freighter to its fleet as part of its fleet modernisation programme. The…

Read More

Share this story

Air Cargo News

Air Cargo News
Established in 1983, Air Cargo News is the leading source of news, information, interviews, analyses and reports to the global airfreight industry. Our leading portfolio includes print, digital and events that give businesses in the airfreight industry the ability to connect with decision-makers in this sector.