MISSISSAUGA, ON, Nov. 14,
2022 /CNW/ - Cargojet announced today they have
renewed and extended their Air Cargo Services Agreement with United
Parcel Service Canada Ltd. for an additional five-year Term. The
current agreement was due to expire on July
1, 2025 and the new Agreement is extended to December 31, 2030.
Cargojet continues to provide a comprehensive Canada-wide air cargo service for UPS.
Cargojet's domestic overnight network provides additional capacity
and long-term stability to UPS.
"Cargojet is extremely pleased to have successfully renewed the
domestic Air Cargo Services Agreement with UPS Canada. Cargojet has
been the exclusive provider of time-sensitive domestic overnight
air cargo services to UPS Canada since 2003. We will continue to
provide the most cost-effective, best on-time performance as well
as a scalable solution to UPS," said Dr. Ajay Virmani, CEO of Cargojet. "The renewal of
the agreement is a testament to the committed, hardworking, and
dedicated team of professionals at Cargojet. Cargojet continues to
value our partnership with UPS. We will work together to provide
Canadians with world-class and flexible air cargo services in
today's changing business environment," added Dr.
Virmani.
About Cargojet
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 34 aircraft.
Notice on Forward Looking Statements:
Certain statements contained herein constitute "forward-looking
statements". Forward-looking statements look into the future and
provide an opinion as to the effect of certain events and trends on
the business. Forward-looking statements may include words
such as "plans," "intends," "anticipates," "should," "estimates,"
"expects," "believes," "indicates," "targeting," "suggests" and
similar expressions. These forward-looking statements are
based on current expectations and entail various risks and
uncertainties. 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.
The issuer assumes no obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or any other reason, other than as required by
applicable securities laws. In the event the issuer does update any
forward-looking statement, no inference should be made that the
issuer will make additional updates with respect to that statement,
related matters, or any other forward-looking statement.
SOURCE Cargojet Inc.
