Cargojet & First Air Announce Strategic Air Cargo Cooperation
Mississauga and Kanata, ON - June 24, 2014 - Cargojet and First Air announced today they have signed a Cooperation Agreement that will create significant cost efficiencies for both carriers.
Cargojet will assume the remaining lease obligation of First Air’s B767-200 Extended Range Freighter aircraft, subject to the approval of the lessor, and will provide scheduled freighter aircraft service to First Air from Ottawa and Winnipeg to Iqaluit three days per week. Both parties will maintain their respective and existing end-user customer relationships but offer enhanced overall reliability and service to all customers.
Cargojet will be the primary and exclusive provider of freighter aircraft lift from the southern points in Canada to/from Iqaluit and First Air will be the primary provider of cargo lift within Nunavut and across the North. Joint sales and marketing initiatives of each other’s respective networks will create new revenue opportunities for both parties while providing seamless services to the marketplace.
The two airlines plan to widen their cooperation into other areas, such as joint cargo handling and aircraft maintenance.
"Cargojet is a perfect fit for First Air, a complementary network and an outstanding record of reliability and service. Both companies will benefit from synergies that will be mutually beneficial for both companies as well as for our cargo customers," said Dr. Brock Friesen, President and CEO of First Air.
"We are looking forward to working with First Air allowing both organizations to benefit from reduced costs, enhanced revenues and to offer a seamless, flexible and reliable air cargo service to Canadian shippers across Canada," said Dr. Ajay K. Virmani, President & CEO of Cargojet.
About First Air –
With a fleet of 23 aircraft including the only two civilian owned and operated Hercules aircraft in Canada, First Air has been connecting the people of the North for over 60 years and offers cargo, charter and scheduled service to more northern destinations than any other airline. First Air is a wholly owned subsidiary of Makivik Corporation since 1990, with over 1,000 employees, of which more than 450 work and live in the North.
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 750,000 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 visist www.cargojet.com.
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