Canada’s Cargojet squeezed 16% more flight hours out of its existing fleet in the fourth quarter to accommodate a surge in demand for charter service from e-commerce sellers in China, resulting in a 32% year-over-year revenue gain to US$207 million.
Earnings were tempered by higher startup costs for charter flights, such as overtime pay for pilots, maintenance and ground handling, as adjusted pretax income came in 5% below analysts’ forecast.
Cargojet’s on-demand charter business increased...
https://www.freightwaves.com/news/rise-in-china-e-commerce-traffic-lifts-cargojet-to-record-revenue