MISSISSAUGA, ON, June 30, 2015 /CNW/ - Cargojet Inc. (TSX: CJT), Canada's leading domestic premium overnight air cargo network operator, and First Air, the Airline of the North, announced today that they have expanded their commercial co-operation agreement effective July1, 2015 and extended their Transportation Agreement to June 30, 2025.
This agreement further strengthens the strategic alliance between the two companies, and will allow for seamless air cargo transportation between the 14 major Canadian cities served on Cargojet's overnight air cargo network as well as the 32 communities served by First Air in Canada's North.
"We are excited to expand service to the entire Canadian domestic market, including key communities in Northern Canada," stated Dr. Ajay K. Virmani, President and CEO of Cargojet. "Cargojet and First Air will work together to provide Canadians with world-class, flexible air cargo services for today's changing business environment."
Dr. Brock Friesen, President and CEO of First Air, also stated, "Our goal with this agreement is two-fold. It is intended to create financially viable cargo operations in the North and to expedite service to our customers".
"This new agreement is a logical extension of our relationship andallows First Air to improve cargo connectivity to the Arctic, by way of the Southern Canadian gateways served by Cargojet", said Bert van der Stege, Vice President Commercial at First Air. "This partnership is a major step forward in providing cargo to our northern clientele at a reasonable price and in a reasonable timeframe."
Cargojet is Canada's leading provider of time sensitive overnight air cargo services and carries over 1,000,000 pounds of cargo each business night. Cargojet operates its network across North America, utilizing a fleet of all-cargo aircraft. For more information, please visit: www.cargojet.com.
About First Air
For nearly 70 years, First Air has been providing passenger and cargo services to and within Canada's North. With scheduled flights to more Northern communities than any other airline, First Air's service-based philosophy, reliability and extensive northern experience are main reasons why First Air is known as the 'Airline of the North'.
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: Media Contacts: Cargojet: Pauline Dhillon, Senior Vice President Marketing, Public & Government Relations, Tel: (905) 501-7373, [email protected]; First Air Media Relations Group: Anubha Momin or Alethea Arnaquq-Baril, Tel: (867) 979 0026, [email protected]