Cargojet

Cargojet sees strong volumes after 2023 fleet reversal

Cargojet on Monday reported a US$25.8 million loss in the fourth quarter mostly related to fuel and noncash charges, capping a rocky year marked by slashed plans for major fleet expansion and a renewed focus on cost management to boost free cash flow and investor returns.

Despite recent retrenchment, the company sounded an optimistic note for 2024 with guidance of mid-to-high-single-digit growth in domestic overnight revenue for the first quarter. Management said that January figures were well...

https://www.freightwaves.com/news/cargojet-sees-strong-volumes-after-2023-fleet-reversal

Jetran buys Cargojet rights for 777 freighter conversions

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Aircraft dealer Jetran LLC has acquired the rights to four Boeing 777-200 converted freighters from...

https://www.freightwaves.com/news/jetran-buys-cargojet-rights-for-777-freighter-conversions

Cargojet reverses course on 777 freighter ambitions

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Canada-based Cargojet announced Monday it has abandoned plans to add four Boeing 777 converted...

https://www.freightwaves.com/news/cargojet-reverses-course-on-777-freighter-ambitions

Cargojet founder Virmani passes torch to co-CEOs

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Canada’s Cargojet announced Monday that founder Ajay Virmani is vacating his role as CEO, effective...

https://www.freightwaves.com/news/cargojet-founder-virmani-passes-torch-to-co-ceos

Cargojet to sell off new B757 freighters, pause 767 conversions

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Cargojet, which operates a nationwide air cargo network in Canada for e-commerce express companies...

https://www.freightwaves.com/news/cargojet-to-sell-off-new-b757-freighters-pause-767-conversions

COVID cost initiative boosts Cargojet margins despite drop in volumes

Cargojet, an all-cargo airline that operates a domestic express network in Canada for customers such as Amazon and DHL Express, on Monday said reduced flying in response to a slowdown in shipping and tight cost management during the second quarter helped maintain profit margins that were better than analysts expected.

The company recorded adjusted earnings before interest, taxes and accounting measures sliding 8.4% to $57.7 million ($74.3 million Canadian). A nearly 10% reduction in expenses,...

https://www.freightwaves.com/news/covid-cost-initiative-boosts-cargojet-margins-despite-drop-in-volumes

Cargojet postpones more 777 freighters, tightens belt as shipments slow

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Cargojet, which operates an extensive middle-mile air cargo network in Canada for express delivery...

https://www.freightwaves.com/news/cargojet-postpones-more-777-freighters-tightens-belt-as-shipments-slow

Cargojet to sell 777 aircraft, defer cargo conversions as demand slips

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Canadian airline Cargojet said Monday it plans to sell two Boeing 777-300 aircraft it had planned to...

https://www.freightwaves.com/news/cargojet-to-sell-777-aircraft-defer-cargo-conversions-as-demand-slips

Cargojet moving cheaper e-commerce goods, overstocked retail inventory

A large, white Cargojet freighter with blue tail parked by airport control tower.

Continued e-commerce momentum along with businesses favoring dedicated airlift for goods because of unreliable passenger airline service make Cargojet relatively insulated from a potential economic downturn, executives at the Canadian freighter company said.

Cargojet (TSX: CJT) operates an air cargo network between major Canadian cities carrying shipments for Amazon, Canada Post, DHL, Purolator and UPS. It also offers fully crewed leased aircraft on international routes for dedicated customers...

https://www.freightwaves.com/news/cargojet-flies-changing-mix-of-ecommerce-produc

Israeli company confirms Cargojet deal for Boeing 777 cargo conversions

Fuselage of an aircraft in a production hanger.

Israel Aircraft Industries on Monday announced that it will structurally modify four Boeing 777-300 passenger jets to carry heavy cargo on the top deck for Canadian all-cargo carrier Cargojet, confirming independent reporting by FreightWaves.

The 777 is a larger aircraft than Cargojet (TSX: CJT) currently operates and opens the door to longer-haul business in Asia. The airline publicly declared in November it would buy conversion service for two 777-200s from startup aviation engineering firm...

https://www.freightwaves.com/news/israeli-company-confirms-cargojet-deal-for-b777-cargo-conversions

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