All cargojet Articles – Page 3
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News
E-commerce demand boosts Cargojet in Q1
Cargojet saw revenues and profits increase in the first quarter of the year as it continued to benefit from a boom in e-commerce demand.The Canada-based aircraft owner and operator saw first-quarter revenues increase by 30.3% year on year to C$160.3m, earnings before interest and tax were up from a C$0.9m ...
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News
Amazon expands with Cargojet through two freighter deal
Amazon Air will expand its relationship with Canada-based freighter operator Cargojet through a deal to operate two freighters on behalf of the e-commerce giant.The Air Transportation Services Agreement will see Cargojet operate two Amazon-owned B767-300BDSF aircraft as part of the Amazon Air network on a CMI basis within Canada starting ...
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News
CargoJet confirms B777F additions as it targets international growth
CargoJet has confirmed plans to enter the B777 freighter market and add extra B767F aircraft to meet international growth opportunities.Earlier this month, the lessor and operator raised C$365m through an equity deal. The money will be used to pay off debt and acquire new aircraft.The company said that two Boeing ...
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News
Cargojet looks to add its first B777 freighters
Canadian carrier and lessor Cargojet has raised C$350m to increase its fleet with more B767 freighters and to buy its first B777Fs.The airline said a portion of the funds, raised through a share sale, would be used to fund the purchase of five B767Fs for delivery in 2021/2022 and two ...
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News
DHL expands freighter deal with Cargojet
DHL Express has expanded its ACMI deal with lessor Cargojet through the addition of three permanent international routes.The new routes are operated by three dedicated B767-300F Cargojet freighter aircraft between Hamilton, Canada; DHL Express hub in Cincinnati, Ohio; and continuing to Monterrey, Mexico; and the UK.These routes were initially started ...
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News
ATSG subsidiary delivers converted B767F to Cargojet
Cargo Aircraft Management (CAM), a subsidiary of aircraft lessor Air Transport Services Group (ATSG), has delivered a converted Boeing 767-300ER freighter to Cargojet Airways in Canada.CAM said the aircraft will be operated under the terms of a seven-year lease agreement.Cargojet is a provider of time-sensitive overnight air cargo services in ...
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News
Cargojet sees Q3 revenues improve on e-commerce demand
Cargojet Inc saw revenues and operating profits improve in the third quarter of the year on the back of increased demand for freighter services and growing e-commerce volumes.The Canada-based aircraft lessor reported a 38.2% year-on-year increase in third-quarter revenues to C$162.3m, while adjusted earnings before interest, tax, depreciation and amortisation ...
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News
Cargojet revenues buoyed by record peak season
Cargojet recorded a 7% year-on-year increase in revenues in 2019, helped in part by a strong end to the year.The Canada-based freighter operator saw revenues for 2019 reach C$486.6m, adjust earnings before interest, tax, depreciation and amortisation (EBITDA) were up 21.9% to C$119.2m but net earnings were down 42.6% to ...
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News
Cargo airports fly with e-commerce
Montreal’s Mirabel airport is gearing up for some infrastructure improvements.Canada’s federal government and the local airport authority have pledged to contribute altogether C$107m ($81.24m) to the project, which will go towards the construction of a 20,000 sq m cargo terminal, new parking positions for 13 freighters and improvements in road ...
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News
Amazon to invest in Canadian freighter operator Cargojet
E-commerce giant Amazon will invest in a third freighter operator as it takes a stake in Canada's Cargojet.The two have been working together over recent years with Cargojet providing overnight air cargo services and charter flights.Under the new strategic agreement, Cargojet will issue warrants to Amazon to purchase variable voting ...
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News
Cargojet piles on the pounds for e-commerce peak demand
Canadian overnight freighter operator Cargojet said that it handled "record volumes" and added capacity to meet e-commerce demand for overnight deliveries driven by Amazon's Prime Day shopping holiday.Ajay Virmani, president and chief executive, said: "Cargojet handled in excess of 1,000,000 pounds [454 tonnes] more than an average week and operated ...
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NewsThat's a rap: Cargojet signs up musician Drake as an ambassador
Ajay Virmani, front centre, and Drake, front rightIt's not often that the Air Cargo News team has a chance to demonstrate our urban credentials and 'get down wit' the kidz' so we couldn't believe our luck when we saw that Canadian rapper, singer, songwriter, actor, producer and entrepreneur Drake had ...
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