Air Canada Cargo to Introduce Dedicated Freighter Service to Latin America and Europe in a Commercial Arrangement with Cargojet
Only direct scheduled freighter service between Canada and Latin America
MONTREAL, QC and MISSISSAUGA, ON, April 13, 2016 – Air Canada (TSX: AC) and Cargojet Airways Ltd., a subsidiary of Cargojet Inc. (TSX: CJT, CJT.A), ("Cargojet") today announced they are finalizing a commercial arrangement that will result in Air Canada Cargo introducing dedicated freighter services from Canada to Latin America and Europe with Boeing 767-300ER freighter aircraft operated by Cargojet. Air Canada Cargo will become the only provider of direct scheduled freighter service between Canada and Latin America.
The new Air Canada Cargo flights will provide 52 tonnes of net cargo capacity and are scheduled to begin June 9, 2016, subject to obtaining the necessary regulatory approvals.
Initial service will operate on the following routes:
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Toronto to Bogota, Colombia and Lima, Peru via Atlanta, GA
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Toronto to Mexico City via Dallas/Fort Worth, TX.
Under the arrangement, Air Canada Cargo also plans to introduce dedicated freighter service to Europe from Toronto in the second half of 2016.
"We are thrilled to offer our customers the only dedicated freighter service between Canada and Latin America,” said Lise-Marie Turpin, Vice President, Air Canada Cargo. “Working with Cargojet, we are able to leverage and build upon Air Canada’s extensive North American and international networks. We look forward to continuing to grow our dedicated freighter network to Europe later this year and for a successful and mutually beneficial relationship with Cargojet into the future."
"This new arrangement builds on Cargojet’s long-standing relationship with Air Canada Cargo and is a win-win for both parties," said Ajay K. Virmani, President and Chief Executive Officer of Cargojet. "It allows us to optimize our overall freighter aircraft utilization and to expand our range of services and customer base with Air Canada."
About Air Canada Cargo
Air Canada Cargo provides direct cargo services to over 150 Canadian, U.S. transborder and international destinations and has sales representation in over 50 countries. With hubs in Montreal, Toronto, Calgary, Vancouver, London and Frankfurt, the Air Canada Cargo network is extended through interline agreements with other air carriers and through ground trucking services offered in selected markets, serving more than 450 destinations in all.
Air Canada Cargo is Canada’s largest provider of air cargo services as measured by cargo capacity. Main customers are large freight forwarding companies and businesses whose products require the use of air services to expedite their time sensitive cargo shipments. Shipping solutions are tailored to best meet specific commodities and time requirements of our customers cost-efficiently. For more information, please visit: www.aircanada.com/cargo
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
Media Contacts
| Air Canada: | Isabelle Arthur (Montréal) | Isabelle.arthur@aircanada.ca | 514 422-5788 |
| Peter Fitzpatrick (Toronto) | peter.fitzpatrick@aircanada.ca | 416 263-5576 | |
| Angela Mah (Vancouver) | angela.mah@aircanada.ca | 604 270-5741 | |
| Cargojet: | Pauline Dhillon | pdhillon@cargojet.com | 905 501-7373 |
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.