Cargojet Welcomes Transport Minister's Announcement
November 4, 2016
MISSISSAUGA, ONT- MISSISSAUGA, ONT- Cargojet Inc. (the "Company" or "Cargojet") (TSX: CJT, CJT.A)
Cargojet responds to Transport Canada’s review of the recently announced Canada Transportation Act.
"Cargojet welcomes the decision by the Honourable Minister of Transport, Marc Garneau to maintain current foreign ownership levels at twenty five percent (25%) for air cargo operators. We recognize and appreciate the extensive and exhaustive study undertaken by the Federal Government in consultation with stakeholders. Cargojet is completely and fully supportive of the initiatives announced," says Ajay Virmani, President and CEO. "This decision provides continued stability of air cargo services to all Canadians in each region across the nation," added Virmani.
Cargojet also fully supports the Government initiatives outlined yesterday pertaining to enhanced safety and security measures that will ensure a safe and secure supply chain for all Canadians and the $10.1B infrastructure investment in Canada's overall transportation system.
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
For further information, please contact:
Executive Vice President Marketing, Public & Government Relations
Tel: (905) 501 7373