MISSISSAUGA, ON, June 10,
2024 /CNW/ - Cargojet (TSX: CJT) announced today that
it has entered into a three-year agreement with China-based Great Vision HK Express to provide
scheduled charter services—from Hangzhou,
China to Vancouver, B.C.,
and from Vancouver, B.C. to
Hangzhou, China—utilizing
B767-300F aircraft.
Servicing the rapidly expanding Chinese e-Commerce sector,
Cargojet will operate a minimum of three flights per week and
began service on May 22,,
2024, with eight flights successfully completed to date. Total
revenue for this program is estimated at over
CAD $160M for the full term of the agreement.
"Leveraging Cargojet's industry-leading record of on-time
performance and reliability, together with the connection
opportunities from Vancouver to
fifteen other cities in Canada,
will allow Great Vision HK to provide enhanced services for
China-based e-Commerce service
providers, to their customers across Canada," said Jamie B. Porteous, Co-Chief
Executive Officer.
"We continue to explore opportunities to maximize asset
and aircraft utilization and look forward to a strong partnership
with Great Vision HK," added Pauline
Dhillon, Co-Chief Executive Officer.
Christine Cheng, co-founder and
Chief Operating Officer at Great Vision HK, said: "This
is an important milestone
for Great Vision HK, and we've partnered
with Cargojet, another industry-leader in Canada, to provide top-quality transportation
services to our customers in Asia."
Great Vision HK provides its customers with China-to-Canada-to-China end-to-end integrated logistics supply
chain solutions, including pick up, pre-sorting, international air
freight, customs clearance, distribution, last-mile delivery and
after-sales services.
"International air freight is a key part of this logistical
chain, and we believe through this strategic partnership with
Cargojet that we can offer extremely reliable and efficient
services to our customers, while continuing to promote trade
between the two countries," Cheng said.
Cargojet is Canada's leading
provider of time-sensitive, premium air cargo services to all major
cities across North America,
providing Dedicated, ACMI and International Charter services, and
carries over 25,000,000 pounds of cargo weekly. Cargojet operates
its network with its own fleet of 41 aircraft.
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similar expressions. These forward-looking statements are based on
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Reference should be made to the issuer's most recent Annual
Information Form filed with the Canadian securities regulators, and
its most recent Annual Consolidated Financial Statements and
Quarterly Financial Statements and Notes thereto and related
Management's Discussion and Analysis (MD&A), for a summary of
major risks. Actual results may materially differ from
expectations, if known and unknown risks or uncertainties affect
our business, or if our estimates or assumptions prove inaccurate.
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future events or any other reason, other than as required by
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issuer will make additional updates with respect to that statement,
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SOURCE Cargojet Inc.