Canadian air cargo company Cargojet is searching under every rock for savings to maintain profit levels as shipping demand deteriorates.
Cargojet is scrambling to balance its cost structure as the air cargo market softens by hitting the brakes on the acquisition of 777 freighters.
Cargojet is better protected from an economic downturn than airlines handling general air cargo because of e-commerce and deep partnerships.
Cargojet says it has two built-in defenses against an economic downturn: e-commerce and unstable cargo service at passenger airlines.
Israel Aircraft Industries announced Cargojet as the third customer for its program to convert Boeing 777 jets into full-time freighters.
Canada isn’t a sleepy cargo destination anymore. E-commerce, cross-border and international shipping are robust, and Canadian airlines are adding freighters to meet the demand.
Cargojet last year announced an order for two passenger-to-freighter conversions of the Boeing 777 but was less public about buying six more of the aircraft.
Cargojet is the launch customer for Mammoth Freighters, which turns used passenger planes into full-time cargo haulers.
A union that recently wrested allegiance of pilots at Cargojet away from a competing union now says the company fired some members for their organizing activity.
The Air Line Pilots Association has accused the bargaining unit for Cargojet pilots of going along with the company’s effort to weaken new anti-fatigue rules.
Cargojet wants a bigger slice of the U.S. e-commerce and heavy air cargo market. It’s looking for an investment opportunity and has identified new trends in e-commerce that will keep volumes high in North America.
Amazon Air has hired Canadian all-cargo carrier Cargojet to provide crews, maintenance and insurance for two aircraft it plans to use to move e-commerce parcels.
Cargojet is riding the e-commerce wave and to grow business even more it sold shares so it can buy more big cargo planes.
Express carriers like DHL are getting slammed with e-commerce shipments as the holidays approach, and transportation contractors like Cargojet are throwing resources into the response.
Cargojet’s record airfreight volume helped adjusted earnings double in the third quarter.
With increased volatility in international airfreight, Cargojet is bringing back planes to focus on the hot domestic market.
Canadian airlines, already facing a pilot shortage, now face higher labor costs associated with new pilot work rules.
Story updated 11/42019, 2:45 p.m. Canadian overnight air cargo provider Cargojet [TSE: CGJTF] increased its third-quarter adjusted pretax earnings by 24% to C$39.1 million ($29.7 million) compared to the same period in 2018, consistent with the nine-month growth rate. Revenues, excluding fuel surcharges, increased 2.4% to $85.4 million, powered by a 5.5% increase in domestic […]
Canadian government and airport authority to invest in air freight and logistics at Montréal–Mirabel International Airport, the main production site for the Airbus A220.
Amazon, following a model in the U.S., will take an equity stake in Canadian cargo airlines Cargojet.
