Cargojet continues to rise
The Canadian air cargo carrier Cargojet has announced financial results for the fourth quarter and year ending 31 December 2019. Total revenues were CAD 486.6 million (EUR 340.4 million), an increase of CAD 31.7 million (EUR 22.2 million) or 7.0% versus the previous year. Adjusted ebitda was CAD 156 million (EUR 109.1 million), an increase of CAD 28 million (EUR 19.6 million) or 21.9% versus 2018.
Ajay Virmani, president and CEO: "We remain focused on executing our strategy and are driving growth in each of our lines of business. Once again, we handled record volumes for 2019 peak season."
Cargojet owns a fleet of 26 aircraft and is to add a converted B767-300F in Q3/2020, raising its fleet to 13. Israel Aerospace Industries will handle the conversion. (ah)