CARGOJET EXPANDS RELATIONSHIP WITH AMAZON
Cargojet Inc. (“Cargojet”) (TSX: CJT) announced today that it has entered into a new Air Transportation Services Agreement with Amazon Canada Fulfillment Services, ULC (“Amazon”).
Under the agreement, Cargojet will expand upon its existing commercial relationship with Amazon. As part of this arrangement, Cargojet will operate two Amazon-owned B767-300BDSF aircraft as part of the Amazon Air network on a CMI basis within Canada starting mid-2021. Cargojet expects the agreement to generate additional revenue growth to Cargojet’s earnings and cash flows over time. The agreement has a four-year term with three successive two-year renewal options.
“We are very excited to expand our long-term relationship of providing a portfolio of services which support the rapid growth of e-Commerce in Canada. This new four-year Agreement with renewal options is a testament to our relentless focus on exceeding customer expectations,” said Dr. Ajay Virmani, President and CEO Cargojet.
Cargojet is Canada’s leading provider of time sensitive premium air cargo services to all major cities across North America, providing Dedicated ACMI and International Charter services and carries over 25,000,000 pounds of cargo weekly. Cargojet operates its network with its own fleet of 27 Cargo aircraft.
Cargojet President & CEO Dr. Ajay K. Virmani Named Strategist of the Year and One of Canada's Top CEO's of the Year by Globe & Mail's Report on Business
MISSISSAUGA, ON, Oct. 1, 2020 /CNW/ – Cargojet President and Chief Executive Officer Ajay K. Virmani has been recognized as Strategist of the Year, as well being named one of Canada’s top leaders of 2020 representing the best corporate leadership, innovation, vision and responsibility by the Globe and Mail’s Report on Business. The Strategist of the Year is awarded by the Globe and Mail’s Report of Business team to a CEO whose bold decisions have materially changed and improved the strategic position of his or her business.
“True to his entrepreneurial spirit, Ajay started Cargojet in the thick of 9/11 crisis and in less than 20 years turned it into an air-cargo powerhouse with recognition on the TMX 30 as one of Canada’s top performing stocks two years running. Ajay has been the architect of building Canada’s most efficient overnight air-network that has become the de-facto enabler of next-day e-Commerce. His bold and courageous leadership and relentless focus on employees and customers are at the heart of Cargojet’s success. On behalf of the Cargojet Board, I congratulate Ajay on this remarkable recognition,” said James Crane, Chair of the Board of Directors, Cargojet.
CBC – A cargo flight loaded with medical supplies from China arrived at Edmonton’s airport early Monday morning, almost a month after the facility stopped accepting international passenger flights.
The Cargojet flight, arranged by Alberta Health Services, carried personal protective equipment for front line health-care workers and first responders in the province, according to a news release from the Edmonton International Airport.
The Boeing 767-300F left Shanghai on Sunday.
“Although our passenger movements are substantially down, our cargo movements continue to grow and have never been more important to our community,” Tom Ruth, EIA president and CEO, said in the release.
Canada has been actively seeking medical supplies — including medical masks, gowns and gloves — to ensure a stable supply as demand and profiteers overwhelm global markets.
Cargo flight carrying medical supplies from China lands at Edmonton airport
Cargojet Prepares to Deliver Unprecedented Peak Season with Record Volumes
MISSISSAUGA, ON, Nov. 25, 2020 /CNW/ – Cargojet Inc. (“Cargojet”) (TSX: CJT) announced comprehensive plans to handle record volumes for the upcoming peak season that typically starts with Black Friday and ends in early January. This year’s peak season is particularly unique given the ongoing challenges of COVID-19 and the recent lock-downs in several parts of the country.
The surge in volumes that started in March/April of this year has already exceeded typical peak season volumes. With holiday shopping now shifting into high gear, and based on our customers’ forecasts we expect to handle even greater volumes in the coming weeks. This peak is expected to be like none other.
According to Statistics Canada, e-Commerce retail sales for March to September grew from $21.5 Billion in 2019 to $36.2 Billion in 2020, a whopping $14.7 Billion or 68% increase. This trend is expected to accelerate for the peak shopping season. The recent survey conducted by the largest national package delivery service showed that almost 80% of Canadians shopped online in the past year and 48% plan on spending mostly or exclusively online this holiday season. Given the increasing uncertainty around regional lock-downs, thousands of small businesses have shifted to on-line sales channels. According to one of the largest online merchant platforms, thousands of small businesses have opened online store-fronts for the first time and are eager to participate in the holiday season.
MISSISSAUGA, ON, Dec. 8, 2020 /CNW/ – Cargojet Inc. (“Cargojet” or the “Corporation”) (TSX: CJT) formally announced today the expansion of its dedicated ACMI aircraft agreement with DHL Express with the addition of three international routes. The new routes are operated by three (3) dedicated B767-300F Cargojet freighter aircraft between Hamilton, Canada; DHL Express hub in Cincinnati, Ohio; and continuing to Monterrey, Mexico; and the United Kingdom.
These routes were initially started in April 2020 and October 2020 on a temporary basis, as global demand for dedicated air cargo services soared as a result of the Covid-19 pandemic and the resulting reduction in belly cargo capacity in passenger aircraft. Cargojet was well-positioned to assist DHL Express in quickly adding required cargo capacity and is very pleased to transition these routes to longer-term arrangements to provide dedicated air cargo capacity to DHL. This brings the total dedicated ACMI aircraft operated by Cargojet for DHL Express to nine aircraft.
“We are very pleased to continue to grow our long-standing relationship with DHL globally and look forward to continue to provide DHL and its customers with exceptional on-time performance and service levels,” said Ajay K. Virmani, President and CEO for Cargojet.