Cargojet welcomes Transport Minister's announcement

MISSISSAUGA, ON, Nov. 4, 2016 /CNW/ -  Cargojet Inc. (the "Company" or "Cargojet") (TSX: CJT, CJT.A)

Cargojet responds to Transport Canada's review of the recently announced Canada Transportation Act.

"Cargojet welcomes the decision by the Honourable Minister of Transport, Marc Garneau to maintain current foreign ownership levels at twenty five percent (25%) for air cargo operators. We recognize and appreciate the extensive and exhaustive study undertaken by the Federal Government in consultation with stakeholders. Cargojet is completely and fully supportive of the initiatives announced," says Ajay Virmani, President and CEO. "This decision provides continued stability of air cargo services to all Canadians in each region across the nation," added Virmani.

Cargojet also fully supports the Government initiatives outlined yesterday pertaining to enhanced safety and security measures  that will ensure a safe and secure supply chain for all Canadians and the $10.1B infrastructure investment in Canada's overall transportation system. 

About Cargojet
Cargojet is Canada's leading provider of time sensitive overnight air cargo services. Cargojet services 14 major city centers coast to coast each business night. Cargojet operates its network across North America carrying approximately 1,300,000 pounds of cargo each business night. Cargojet has a fleet of 22 aircraft consisting of B767-300ER, B767-200ER, B757-200ER and B727-200AF long range freighter aircraft. For more information please visit www.cargojet.com

Notice on Forward Looking Statements:
Certain statements contained herein constitute "forward-looking statements".  Forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business.  Forward-looking statements may include words such as "plans," "intends," "anticipates," "should," "estimates," "expects," "believes," "indicates," "targeting," "suggests" and similar expressions.  These forward-looking statements are based on current expectations and entail various risks and uncertainties. Reference should be made to the issuer's most recent Annual Information Form filed with the Canadian securities regulators, and its most recent Annual Consolidated Financial Statements and Quarterly Financial Statements and Notes thereto and related Management's Discussion and Analysis (MD&A), for a summary of major risks. Actual results may materially differ from expectations, if known and unknown risks or uncertainties affect our business, or if our estimates or assumptions prove inaccurate. The issuer assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason, other than as required by applicable securities laws. In the event the issuer does update any forward-looking statement, no inference should be made that the issuer will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

SOURCE Cargojet Inc.

For further information: Pauline Dhillon, Executive Vice President Marketing, Government & Public Relations, Tel: (905) 501 7373, pdhillon@cargojet.com


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