Strategic Renewal with Canada Post Corporation
and Purolator Inc. reinforces Cargojet's Leadership Position in the
Domestic Air Cargo Market
MISSISSAUGA, ON, Jan. 17,
2023 /CNW/ - Cargojet Inc. ("Cargojet") (TSX:
CJT) is pleased to announce today that it has extended the
Master Services Agreement (the "Agreement") with Canada
Post Corporation and Purolator Inc., (Canada Post Group of
Companies "CPGOC") until September
30, 2029. An additional option to renew to March 31, 2031, continues to remain
available.
Cargojet and CPGOC first entered into the Agreement in 2014 for
a seven-year term, with CPGOC exercising its first three-year
renewal option in 2017 extending the Agreement until March 31, 2025. The newly extended Agreement will
also continue to have minimum guaranteed volumes allowing Cargojet
to continue to invest in value-added and enhanced services.
"From the very first day of our relationship with CPGOC, we have
focused on delivering an unparalleled service, industry leading
reliability and on-time performance. The customer centric mindset
of our entire team has once again allowed us to renew the trust and
confidence of two of Canada's most
iconic brands," said Ajay Virmani,
President & Chief Executive Officer, Cargojet. "Cargojet's
flagship domestic air network is uniquely positioned to serve the
needs of all of our strategic customers. By serving over 90%
of Canadian population each and every day, we provide a critical
backbone for Canada's supply
chains", concluded Mr. Virmani.
About Cargojet:
Cargojet is Canada's leading
provider of time sensitive premium air cargo services to all major
cities across North America and
select international destinations, providing dedicated, ACMI, CMI
and international charter services and carries over 25,000,000
pounds of cargo weekly. Cargojet owns/operates a fleet of 40
aircraft.
SOURCE Cargojet Inc.