MISSISSAUGA, ON, April 1, 2015 /CNW/ - Cargojet Inc (TSX: CJT) Cargojet announced today they have successfully completed the transition and are currently providing all air cargo services to Canada Post and Purolator across Canada. The previously announced Domestic Air Cargo Network Services contract came into full effect on April 01, 2015 for an initial seven-year term, with extension options providing up to nine additional years.
Cargojet provides a comprehensive Canada-wide air cargo services for the Canada Post Group of Companies, including Purolator's national air cargo network. Cargojet's domestic air cargo network has been expanded and enhanced significantly to handle the additional volumes and provide improved service to all customers.
Cargojet has expanded its fleet, with the addition of twelve new generation B757-200F and B767-300F cargo aircraft, to provide the capacity and operational reliability to take on this additional business.
"The enhancements to our air cargo network will not only provide significant additional capacity but also provide operating efficiencies and improved service levels to all customers, with more direct flights; later departures and earlier arrivals, at locations across Canada", said Ajay K. Virmani, President & CEO. "Cargojet is truly Canada's Cargo Airline, providing a highly reliable air cargo service to the Canadian overnight air cargo market, and making significant strides to become a leading global air cargo charter service provider", he added.
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 each business night, utilizing a fleet of all-cargo aircraft consisting of 5 Boeing 767-300ER, 5 Boeing 767-200ER, 5 Boeing 757-200ER and 9 Boeing 727-AF.
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.
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