Cargojet Adds Capacity and Contractual Revenues
September 27, 2007
Cargojet Income Fund (the “Fund”) (TSX: CJT.UN), Canada’s leading domestic premium overnight air cargo network, today announced that it has signed agreements with existing customers for additional capacity and revenues.
As a result of increased customer demand, Cargojet will operate additional routes, utilizing B727-200F Advanced Freighter Aircraft, between Canadian cities and major U.S. cities. It is anticipated these new routes will contribute approximately $20M in additional annual revenues.
“We are very pleased to be in a position to react to our customers demand for additional cost-effective and value added air cargo services”, says Ajay K. Virmani, President and CEO of the Fund. “ These new services are reflective of Cargojet’s on-going commitment to be the country’s dominant air cargo service provider and to offer growth opportunities for our customers, our employees and our unitholders”, added Virmani.
Cargojet is Canada’s leading provider of time sensitive overnight air cargo service. Cargojet operates its network from coast to coast transporting over 550,000 pounds time sensitive air cargo to thirteen major cities in Canada each business night.
For further information, please contact:
Vice President Marketing, Public & Government Relations
Tel: (905) 501 7373