All cargojet Articles – Page 2
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News
Cargojet reduces costs to reflect weaker market conditions
Cargojet reported softer market conditions in the first quarter of the year as international flying was subdued and has taken steps to reduce short-term costs.The Canada-based freighter operator reported a 0.7% decrease in first-quarter revenues to C$231.9m, while earnings before interest reached C$34.6m compared with a C$44.5m loss last year ...
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Insights
Putzger perspective: Freighters lose altitude
Since late spring last year, truckers and ocean carriers have been wondering where the bottom of the market is as demand and rates continued to spiral downward.Now a growing number of players in the freighter market are concluding that it’s time to cut back.Management of shipping line NYK no longer ...
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News
Cargojet reduces B777 conversion plans on weaker outlook
Cargojet is cutting the number of B777 freighter aircraft it plans to convert into freighters due to the weakening economic outlook.In announcing its full-year results, the Canadian freighter operator said that for now, it would now only pursue four of eight previously announced B777 freighter conversions as it curtails capital ...
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Insights
Putzger perspective: Air cargo navigates stormy skies
Recent months have been relentlessly tough to navigate for air cargo carriers, as imploding demand has yanked rates and yields out of the stratosphere to levels last seen before the pandemic.The reverberations are taking a toll on capacity expansion, as operators are having second thoughts on their anticipated need for ...
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News
Cargojet delays B777F delivery
Freighter operator Cargojet has delayed the delivery of one of its B777 converted freighters as part of efforts to manage capital expenditure (CapEx).Speaking following the publication of the Canada-based airline's third-quarter results, president and chief executive Ajay Virmani said that the company had delayed the delivery of one of its ...
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News
Cargojet and UPS Canada renew air cargo agreement
Canadian cargo airline Cargojet has renewed and extended its Air Cargo Services Agreement with United Parcel Service (UPS) Canada for an additional five-year term.The current agreement was due to expire on July 1 2025 and the new agreement is extended to December 31 2030.Cargojet continues to provide a Canada-wide air ...
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News
Cargojet announces strong third-quarter results
Canadian cargo airline Cargojet has announced strong third quarter 2022 results.For the three months ending September 30, the airline recorded total revenues of C$232.7m (US$170.6m), significantly up on the figure of C$189.5m (US$138.9m) made in the same quarter of last year.The revenue growth of 22.8% reflected, Cargojet said, a strong ...
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News
Mammoth Freighters’ 777-200LR gets ready for conversion
Mammoth Freighters’ 777-200LR is being prepared for the initial stages of conversion at a US facility.The Orlando, Florida-based freighter conversion company said in a LinkedIn post that the prototype will be the first of four 777-200LRMF freighter conversions that will be delivered to its launch customer Cargojet in Mississuaga, Ontario.The ...
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News
Cargojet appoints chief financial officer
Cargojet has appointed Scott Calver as its new chief financial officer.Calver comes to Cargojet with financial executive experience, including capital markets and operational management in the transportation and logistics sector.He most recently served as the chief financial officer of Trimac Transportation. Prior to Trimac, Calver served as vice president, finance ...
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NewsCargojet selects IAI for B777 conversions
Source: IAICargojet has selected Israel Aerospace Industries (IAI) to carry out passenger-to-freighter (P2F) conversions of its B777-300ER aircraft.The deal includes the conversion of four B777-300ER aircraft and additional options in the future.The move is in addition to previous orders for the conversion of B777s placed with Mammoth Freighters and comes ...
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Insights
Putzger perspective: Cargo capacity alignments
In mid-April Air France-KLM inked an order for four A350 freighters, with options on another four. Both airlines that make up the tandem have a long and proud history in cargo, but the years before the pandemic saw their freighter fleet shrink to two B777-200Fs.Airline planning horizons must extend beyond ...
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News
Cargojet revenues jump in Q1 as it expands B777 conversion order
Canadian freighter operator Cargojet registered a jump in revenues in the first quarter and has expanded the number of B777 conversions it has on order (see below).The company reported a 45.7% increase in first-quarter revenues to $233.6m with strong growth in the all-in charter segment.The company said the all-in Charter ...
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NewsDHL adds extra freighters through Cargojet tie up
DHL B777. Source: DHL ExpressDHL Express has entered into a long-term agreement with freighter operator Cargojet that could potentially see the express firm acquire shares in the freighter company.The five-year deal, with options for an extra two years, will see Cargojet provide an extra five B767 freighters in addition to ...
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NewsCargojet the launch customer for Mammoth's B777 conversion programme
Source: MammothCargojet Airways will be the launch customer for Mammoth Freighters' B777-200LR freighter conversion programme.The Canada-based lessor and operator has initially signed up for two B777-200LRMF freighters, with options two -300ERMFs and two additional -200LRMFs.The first aircraft (MSN 29742) is expected to begin the conversion process in mid-2022 with delivery ...
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News
Savino Del Bene to offer Italy-US peak season flights
Italian freight forwarder Savino Del Bene will launch a charter operation between the US and Italy in response to capacity shortages.The peak-season service will begin on October 23 and operate between Milan Malpensa and New York JFK utilising a B767-300F operated by Cargojet Airways.The company said that it had decided ...
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News
Could Amazon soon add B777 freighters to its fleet?
Ever since Amazon launched its US domestic freighter operation in late 2015 there has been speculation that the company could one day expand into intercontinental operations.If a recent report from Bloomberg is correct, that speculation could soon turn into reality. A report from the news wire last week suggested that ...
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News
21 Air looks to expand its fleet for peak demand
Freighter operator 21 Air has applied to the US Department of Transportation (DoT) for permission to double the size of its fleet.According to the filing, the airline is currently limited to a fleet of five aircraft but it would like this limit to increase to 10 freighters.21 Air currently operates ...
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NewsCargojet pilots switch to ALPA union as dispute emerges
Image: ShutterstockCargojet pilots have decided to join the Air Line Pilots Association, Int’l (ALPA) with the new union already lodging a complaint against the freighter operator.The Canada Industrial Relations Board (CIRB) has certified ALPA as the representative of more than 300 pilots at Cargojet.The pilots voted for ALPA representation in ...
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News
Vito Cerone joins Cargojet from Air Canada Cargo
Cargojet has appointed Air Canada Cargo stalwart Vito Cerone, as senior vice president, international as the company looks to expand its global presence.Cerone, who starts in the role with immediate effect, was most recently vice president, cargo sales & commercial strategy at Air Canada.He has 30 years' experience in the ...
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News
Cargojet continues international expansion with 21Air investment
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 ...
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