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Cargojet Welcomes Transport Minister's Ruling

Mississauga, Ontario, July 19, 2005 – The Honourable Minister of Transport, Jean Lapierre, announced today that Air Canada’s application to utilize and offer domestic service on a wet lease basis from foreign air cargo operators, Gemini and World Airways, was denied.

“We find the Honourable Minister’s ruling to be just and fair”, says Ajay K. Virmani, President & CEO of Cargojet. “Cargojet is extremely satisfied with the ruling as the application for exemption was met with heavy opposition from all major industry stakeholders, all of whom cited lack of economic benefits for Canadian shippers and the aviation industry. We are pleased that the Minister has endorsed the views of the industry acknowledging that this application does not meet public interest requirements nor is it beneficial to Canadian consumers,” adds Virmani.

Cargojet is Canada’s leading provider of time sensitive overnight air cargo service. Cargojet operates its network from coast to coast transporting over 500,000 pounds (226.8 tonnes) of volumetric time sensitive air cargo to thirteen major cities in Canada each business night.

For further information, please contact:

P. Dhillon
Vice President Marketing, Public & Government Relations
Tel: (905) 501 7373
pdhillon@cargojet.com