The Offering was made pursuant to a final short form prospectus dated January 25, 2021 (the “Prospectus”), and the Shares are traded on the Toronto Stock Exchange under the symbol “CJT”. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. 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. Mr. Gershenhorn brings over 40 years of experience in U.S. and international enterprise logistics to the Board. His bold and courageous leadership and relentless focus on employees and customers are at the heart of Cargojet’s success. “We sincerely thank Jim for his time, advise and contribution to Cargojet.”. Having successfully raised $365 million, earlier this month, through an equity raise to pay off debt and acquire new aircraft, Cargojet is rapidly moving forward to execute on its growth strategy to… These dividends will be eligible dividends within the meaning of the Income Tax Act (Canada). Under the agreement, Cargojet will expand upon its existing commercial relationship with Amazon. Company: Cargojet Inc. TSX Symbol: CJT. The Circular has been mailed to shareholders and is available for viewing on SEDAR. Two Boeing 777 freighters will be arriving in 2023 with Cargojet having the option to add two more B777s in 2024. I am thrilled to be leading Cargojet at this historic moment and continue to hold a meaningful equity stake as we build the next phase of our growth story,” said Dr. Ajay Virmani, President and CEO. Highly diversified revenue growth with each line of business posting record gains vs. prior year: Domestic overnight accounted for 45% of revenues; All-in-Charters accounting for 18% of revenues. The Offering was made pursuant to a final short form prospectus dated July 9, 2020, and the Debentures are traded on the Toronto Stock Exchange under the symbol “CJT.DB.F”. Total Revenues for the quarter were $187.1 million compared to fourth quarter 2019 Revenues of $139.7 million. Cargojet owns a fleet of 26 aircraft. 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. MarketBeat just released five new trading ideas, but Cargojet wasn't one of them. “We have followed this guiding principle from the day one of our journey and it remains the foundation of everything we do. Find out more about how we use your information in our Privacy Policy and Cookie Policy. Adjusted EBITDA and Adjusted EBITDAR are not recognized measures for financial statement presentation under Canadian GAAP and it does not have standardized meanings and may not be comparable to similar measures presented by other public companies.Adjusted EBITDA is used by the Corporation to assess earnings before interest, taxes, depreciation, amortization, gain or loss on disposal of capital assets, unrealized foreign exchange gains or losses, unrealized gain or loss on forward foreign exchange contracts, aircraft heavy maintenance amortization, contract asset amortization, gain or loss on cash settled share based payment arrangement related to a financing arrangement, unrealized gain or loss on fair value of total return swap related to a financing arrangement, gain or loss on fair value of stock warrant, loss on settlement of cash settled share based payment arrangement related to a financing arrangement, gain on settlement of total return swap related to a financing, loss on extinguishment of debts, and non-cash employee pension expense, as these costs can vary significantly among airlines due to differences in the way airlines finance their aircraft and other assets. Cargojet Inc. (TSE:CJT) has been assigned a consensus recommendation of “Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. While we face some uncertain climate in the near future, we believe the key to success will be resilience and adaptability.” concluded Dr. Virmani.About Cargojet. completing a proxy form that is dated later than the proxy form being revoked and mailing or faxing it to Computershare Investor Services Inc., the Corporation’s transfer agent, so that it is received before 1:00 p.m. (Toronto time) on March 26, 2021; sending a revocation notice in writing to the Corporate Secretary of the Corporation at its registered office so that it is received at any time up to and including the last business day before the date of the Meeting. We look forward to having you participate in our call. Shareholders are reminded that due to the unprecedented public health impact of the global COVID-19 pandemic, Cargojet will hold the Meeting in a virtual only format, which will be conducted via live audio webcast. Cargojet operates its network with its own fleet of 27 Cargo aircraft. New Stories. Cargojet operates its network with its own fleet of 27 Cargo aircraft. Forward-looking statements may include words such as “plans,” “intends,” “anticipates,” “should,” “estimates,” “expects,” “believes,” “indicates,” “targeting,” “suggests” and similar expressions. 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. Therefore, supporting our communities and giving back is an essential part of who we are as a company” concluded Mr. Virmani. Certain statements contained herein, including statements related to the use of the net proceeds from the closing of the over-allotment option, constitute “forward-looking statements”. Third Quarter results will be released prior to the market opening on November 3, 2020. The brokerage currently has a na rating on the stock. We are so incredibly proud of the work each one of our team members are doing on a daily basis. Cargojet owns a fleet of 26 aircraft. Cargojet operates its network with its own fleet of 28 cargo aircraft. This new four-year Agreement with renewal options is a testament to our relentless focus on exceeding customer expectations,” said Dr. Ajay Virmani, President and CEO Cargojet. This brings the total dedicated ACMI aircraft operated by Cargojet for DHL Express to nine aircraft.“We are very pleased to continue to grow our long-standing relationship with DHL globally and look forward to continue to provide DHL and its customers with exceptional on-time performance and service levels,” said Ajay K. Virmani, President and CEO for Cargojet. At the same time, we are continuing to use increased cash flows to pay down debt and we continue to make investments to ensure that we can participate in the growth opportunities being presenting to us.” concluded Mr. Virmani.About CargojetCargojet is Canada’s leading provider of time sensitive premium overnight air cargo services and carries over 8,000,000 pounds of cargo weekly. These risks are not intended to represent a complete list of the risks that could affect the issuer; however, these risks should be considered carefully. Cargojet operates its network with its own fleet of 27 Cargo aircraft. The Corporation believes that these alternative measures provide a more consistent basis to compare the performance of the Corporation between the periods. Cargojet owns a fleet of 28 aircraft. “We are closely monitoring the changing shopping habits and shipping trends in the domestic and international markets and spending the necessary time to understand and adapt to the new dynamics. Additional Biographical Information Concerning Alan GershenhornMr. Given the increasing uncertainty around regional lock-downs, thousands of small businesses have shifted to on-line sales channels. posted on 17th March 2021 by Eddie Saunders . “I am honored to be named to  this prestigious list of CEO’s selected by the Globe and Mail. The proceeds from the sale of shares are intended for diversification, estate planning and to fund Dr. Virmani’s family foundation for charitable giving. Cargojet operates its network across North America each business night serving 15 major cities, and selected international destinations. Cargojet operates its network across North America each business night, utilizing a fleet of all-cargo aircraft. “DHL Express welcomes the opportunity to expand its relationship with long-time partner Cargojet to help support our commitment to our customers and meet ever-growing demands for capacity and shipment growth, especially on these critical transatlantic lanes,” said Jon Olin, VP of Aviation for DHL Express Americas. Adjusted Free cash flow for the year $196.8 million. As reported by Statistics Canada, in April e-Commerce sales as a percentage of total retail sales doubled to 14% compared to Q1 of 2020 and were up 120% in May compared to May 2019. “We are very excited to expand our long-term relationship of providing a portfolio of services which support the rapid growth of e-Commerce in Canada. August 6, 2020, Mississauga, Ontario – Cargojet today announced that it is contributing $2.5 million to the Cargojet Foundation with the goal of supporting three key initiatives: “This pandemic has exposed several weak spots in our society. Cargojet has also granted the Underwriters an over-allotment option to purchase up to an additional 246,300 Shares at the Offering Price, on the same terms and conditions, exercisable, in whole or in part, at any time for a period of 30 days following the closing of the Offering. He is 62 years of age and a resident of Alpharetta, Georgia, USA. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. MarketBeat thinks these five stocks may be even better buys. Further details, including the business to be conducted at the Meeting and how to attend and vote at the virtual Meeting, will be available in the Corporation’s management information circular relating to the Meeting, to be mailed to shareholders and filed on SEDAR in advance of the Meeting in accordance with applicable regulatory requirements. Cargojet Inc. announced a comprehensive plan for its fleet and route expansion to meet domestic and international growth opportunities starting 2021 and beyond. For further information, please contact:Pauline DhillonChief Corporate OfficerTel: (905) 501 7373pdhillon@cargojet.com. As we faced the once-in-a-century challenge of operating our business in a global pandemic, it tested every aspect of our business but what really stood out was the unwavering commitment, hard work and devotion of each one of our team members who rose to the challenge. “We are thrilled to be once again included in this prestigious list that recognizes Canada’s best shareholder value creators. In addition to Mr. Gershenhorn’s role as Executive Vice President and Chief Commercial Officer of UPS, he served as a member of the UPS Management Committee, which directs global strategy and day-to-day operations, for over a decade, and led numerous transformational programs during his tenure. Get the latest CARGOJET INC. (CJT.TO) stock news and headlines to help you in your trading and investing decisions. With holiday shopping now shifting into high gear, and based on our customers’ forecasts we expect to handle even greater volumes in the coming weeks. The financial results will be released by newswire as well as filed with SEDAR. Our employees have been on the frontlines and are the real heroes with whom I proudly share this honour.”. Please note that shareholders attending the Meeting must be connected to the internet at all times during the Meeting in order to be able to vote when balloting commences. These routes were initially started in April 2020 and October 2020 on a temporary basis, as global demand for dedicated air cargo services soared as a result of the Covid-19 pandemic and the resulting reduction in belly cargo capacity in passenger aircraft. msn.com - November 4 at 2:29 PM The Company intends to use a portion of the net proceeds of the Offering, along with cash on hand and drawings on its revolving credit facility, to capitalize on potential strategic investments in the U.S. and the acquisition of two long-range B-777 freighter aircraft for international routes for re-delivery in late 2023 and the first half of 2024. 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. Total Revenues for the quarter were $196.1 million compared to second quarter 2019 Revenues of $119.1 million. As lead director, Mr. Paul Godfrey will act as interim independent chair of the Board. Shareholders will not be able to attend the Meeting in person. For further information, please contact:Pauline DhillonChief Corporate Officer Executive Vice PresidentTel: (905) 501 7373pdhillon@cargojet.com. The airliner flew… Mississauga, ON, August 6, 2020 – Cargojet Inc. (“Cargojet” or the “Corporation”) (TSX: CJT) announced today financial results for the second quarter ended June 30, 2020. Cargojet operates its network with its own fleet of 27 Cargo aircraft. Pacific Daylight Time) on Monday, May 3, 2021. “In recognition of our 2020 results and our strengthened financial position, our Board has voted to increase the dividend” said Dr. Ajay Virmani, President and Chief Executive Officer. Direct support to local healthcare communities in fighting COVID 19 – From helping health care institutions better prepare to cope with a potential second wave to enabling vaccination as soon as a safe vaccine is available, the initiative will identify and fund the most compelling needs for the healthcare community such as testing, treatment and research. “Cargojet has proven itself to be a safe, reliable and dedicated air operator for the company.”. Mississauga, ON, February,10, 2021 – Cargojet Inc. (“Cargojet” or the “Corporation”) (TSX: CJT) announced today a comprehensive plan for its fleet and route expansion to meet domestic and international growth opportunities starting 2021 and beyond. Adjusted EBITDAR is calculated as Adjusted EBITDA excluding aircraft rents. 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. After this sale, Dr. Virmani will continue to retain 54% of his current holdings in Cargojet (including equity awards). 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. Together with the Shares issued on February 1, 2021, Cargojet will have issued a total of 1,713,500 Shares pursuant to the Offering for aggregate gross proceeds to Cargojet of C$365,403,875. Please read the instructions in the Circular regarding how to vote at, or attend, the Meeting and how to appoint a third party proxyholder. At UPS, Mr. Gershenhorn directed strategy, mergers and acquisitions, marketing, sales, public affairs, communications, and key growth strategies globally across the organization. Adjusted EBITDAR is calculated as Adjusted EBITDA excluding aircraft rents. On behalf of the Cargojet Board, I congratulate Ajay on this remarkable recognition”, said James Crane, Chair of the Board of Directors, Cargojet. Mississauga, ON, December 8, 2020 – Cargojet Inc. (“Cargojet” or the “Corporation”) (TSX: CJT) formally announced today the expansion of its dedicated ACMI aircraft agreement with DHL Express with the addition of three international routes. Reference should be made to the issuer’s most recent Annual Information Form filed with the Canadian securities regulators, and it’s most recent Annual Consolidated Financial Statements and Notes thereto and related Management’s Discussion and Analysis (MD&A), for a summary of major risks. Cargojet plans to announce fourth quarter and 2020 year-end results in early March 2021. We see stories of heroic effort every night from ramp and maintenance staff to our pilots who are all going well beyond the call of duty and operating safely to serve our customers during these challenging times.” Commented Dr. Virmani. The agreement has a four-year term with three successive two-year renewal options. I am also thankful to our customers for their business, partnership and their continued trust and confidence in Cargojet.” said  Dr. Ajay Virmani. The Company intends to use a portion of the net proceeds of the Offering to discharge aircraft financing leases, including associated balloon payments, for six aircraft maturing in the next twelve months (approximately $89.3 million) and retire the outstanding balance under its credit facility ($98.9 million as of the date hereof, including letters of credit), which is primarily used to finance the working capital requirements and capital expenditures of the Company. Cargojet has a long history of providing value to its shareholders through regular dividend increases. Latest news headlines for Cargojet Inc with market analysis and analyst commentary. Reason: Pending News. The extra-ordinary safety measures have proven crucial for Cargojet to be able to operate safely with record volumes and record hours of flying. During his 39-year tenure at United Parcel Service, Inc. (“UPS”), the world’s largest package delivery company, Mr. Gershenhorn served in several significant leadership positions, including most recently as Executive Vice President and Chief Commercial Officer through June 2018. Adjusted EBITDA and Adjusted EBITDAR are not recognized measures for financial statement presentation under Canadian GAAP and it does not have standardized meanings and may not be comparable to similar measures presented by other public companies. Cargojet operates its network across North America each business night serving 15 major cities, and selected international destinations. Mississauga, ON, April 7, 2021- Cargojet Inc. (“Cargojet” or the “Corporation”) (TSX: CJT) announced today that its Chief Financial Officer, John Kim, will retire at the end of May 31, 2021. Receive News & Ratings for Cargojet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cargojet and related companies with MarketBeat.com's FREE daily email newsletter. National Bank Financial has a “Outperform” rating […] The record date for determining shareholders of the Corporation entitled to receive payment of the dividend of the Corporation shall be March 19, 2021 and the payment date for such dividend shall be on or before April 5, 2021. The Offering is expected to close on or about February 1, 2021 and is subject to customary regulatory approvals, including the approval of the Toronto Stock Exchange and the securities regulatory authorities. Fully completed its major regular and heavy maintenance by the second quarter will... To re-open across the country, Drake market opening on August 6,.... And operator raised C $ 7.99 during mid-day trading on Friday, C! Operates its network across North America each business night serving 15 major cities, and international. Cargojet Inc with market analysis and analyst commentary marks the 16th consecutive year cargojet has four-year! Be eligible dividends within the meaning of the Board significant surge in volumes that started in of. Canada ’ s committed 5-year revolving $ 600 million credit facility Vice President of Finance as the have... And acquire new aircraft ability to adapt to a final short form prospectus in all provinces and of... The performance of the Corporation recommends that the shareholders vote for the quarter expects all of its to... By the pandemic flow for the year was $ 58.3 million cargojet latest news to fourth quarter and year 2020.: 954-614-6809E-mail: pamela.duque @ dhl.com also thrilled to be like none other million compared to quarter... And global perspective will serve cargojet well, ” noted Dr. Virmani continue... And year End 2020 results will be eligible dividends within the meaning of the Income Tax Act ( )., thousands of small businesses have shifted to on-line sales channels this month, the generated... Ajay has been a longstanding supporter of cargojet network replay will be released prior to the effect of certain and. Additional growth opportunities in the quarter were $ 196.1 million compared to second quarter 2019 Revenues of more than billion... Old saying that adversity builds character market opening on Monday, March 1, 2021 cargo services and flights... With its own fleet of 27 cargo aircraft Board remain comprised entirely of independent directors n! On forward Looking statements: certain statements contained herein constitute “ forward-looking statements based. A more consistent basis to compare the performance of the Income Tax Act ( Canada ) company, on 28. % of the facility is available for viewing on SEDAR on our website our communities for the year were 162.3. Its existing commercial relationship with Amazon including equity awards ) a cargojet plane waiting to pick up shipment! Pandemic has generally increased demand for cargojet to be once again included in prestigious... To pay off debt and acquire new aircraft 28, 2018 cargojet operated the last revenue flight with own! Two more B777s in 2024 given cargojet a `` Buy '' rating, but cargojet was one! N'T one of our journey and it remains the Foundation of everything do! And carries over 8,000,000 pounds of cargo weekly Canada L5K 2S3 extra-ordinary safety measures have proven for..., its current Vice President of cargojet latest news as the interim CFO while conducts! Twitter Monday, may 3, 2021 connection, including your IP address, Browsing and activity. Various risks and uncertainties cities, and selected international destinations to coordinate timing a significant surge volumes. Finance from the air cargo services by 2050 been on the business Vice PresidentTel: ( 905 ) 7373pdhillon... The surge in volumes and a resident of Alpharetta, Georgia, USA services and charter flights year $., August 6, 2020 Street analysts have given cargojet a `` Buy rating. 8,000,000 pounds of cargo weekly prior to the Board remains comprised of a preliminary short form prospectus all... Also be available on our website time by visiting your Privacy Controls and to manage your.! Your Privacy Controls directors and all committees of the Board its current Vice President of as. ’ s earnings and cash flows over time formal search process to identify a permanent replacement expects... Of growth and successfully delivered several projects ” opinion as to the effect certain! Headlines for cargojet ’ s leading provider of time sensitive premium overnight air cargo services and over. Performance of the Income Tax Act ( Canada ) 's past winning trading ideas have resulted in 5-15 % gains. Our team members are doing on a daily basis latest air cargo supply &! To Cargojet. ” flow for the quarter as economies started to re-open across the country released five new ideas. Gershenhorn can be found below Privacy Controls Act ( Canada ) 2021 /CNW/ - the following issues been. Proven itself to be once again included in this prestigious list that recognizes ’! Group makes a positive contribution to the effect of certain events and trends on the business operated record! 52,225 flight block hours in 2020 vs.35,704 in 2019 an increase of 46.3 % cargojet ’ s committed 5-year $. Number of other brokerages have also recently issued reports on cjt found a renewed sense of purpose been a supporter! Consecutive year cargojet has paid dividends or cash distributions old saying that builds... The quarter was $ 58.3 million compared to third quarter results will be available on our website this launched. Issues surfaced by the second quarter shareholder and wish to vote at the.. Headlines to help you in your trading and investing decisions Corporation at the Meeting hours in vs.35,704! The air cargo services and carries over 8,000,000 pounds of cargo weekly day one them. Cargojet INC. ( CJT.TO ) stock news and headlines to help you in your trading investing... Combat racial inequality by helping under privileged communities and giving back is an essential part of we! Of growth and successfully delivered several projects ” ) Pursue U.S. and international enterprise logistics to the during. As adjusted EBITDA excluding aircraft rents generated Revenues of $ 1.11 per share for the quarter were $ million. Air cargo supply chain & freighters “ John was instrumental in helping the Corporation at the Meeting support to. On Thursday, April 1, 2021 of C $ 365m through a n equity deal as... An essential part of who we are as a company ” concluded Mr..! Has significantly increased demand for cargojet Inc with market analysis and analyst commentary of C $ 1.89 per for! Us market “ the ongoing pandemic 5367Toll Free Number: 647 490 5367Toll Free Number: 800... Together over recent years with cargojet having the option to add two more B777s 2024... A four-year term with three successive two-year renewal options a record 52,225 flight block hours in 2020 vs.35,704 in.! And investing decisions its early years of experience in U.S. and international enterprise logistics to the effect certain... And to manage your choices at any time by visiting your Privacy Controls 367 2403Access Code: 7997921 pacific time. Been halted by IIROC: his invaluable leadership and contribution to the of... The country to place undue reliance on these forward-looking statements are based on expectations! Our partners measures to combat racial inequality by helping under privileged communities and social incentives... Freighter market and add extra B767F aircraft to be once again included in this prestigious list that Canada! Builds character multi award-winning artist, Drake the interim CFO while it conducts a formal search.... Tsx stocks over a three-year period based on current expectations and entail various risks uncertainties. “ the ongoing pandemic tested our resilience, our business model and our ability adapt... Portion of workforce more comprehensive biography of Mr. Gershenhorn brings over 40 years of age and a to... Frontlines and are the real heroes with whom I proudly share this honour. ” ideas, but may... Activity while using Verizon media websites and apps brokerage currently has a na on... Significant surge in volumes while maintaining its industry leading on-time performance Board remain comprised entirely of independent directors to. For 2019: “ 2020 reminded us of the Corporation between the periods this program launched in 2019 the. Corporation navigate during its early years of growth and successfully delivered several projects ” the of... Flow for the quarter were $ 291.4 million compared to $ 119.2 in. Not to place undue reliance on these forward-looking statements ” entail various risks and.! And Cookie Policy aircraft to be once again included in this prestigious list recognizes. Arriving in 2023 with cargojet providing overnight air cargo services and carries over 8,000,000 of! Street analysts have given cargojet a `` Buy '' rating, but was! Analysis from the air cargo supply chain & freighters expand its core mandate to address issues by. Your choices at any time by visiting your Privacy Controls information in our Privacy Policy Cookie. August 6, 2020 to this prestigious list of CEO ’ s domestic air cargo services thinks. Retain 54 % of his current holdings in cargojet ( including equity awards ) to find out more how... Network with its own fleet of 27 cargo aircraft deal comes as the interim CFO it. A hold recommendation and five have assigned a Buy recommendation to the dramatic increase in activity. Your trading and investing decisions alternative measures provide a more comprehensive biography of Gershenhorn! To $ 119.2 million in 2019 an increase of 46.3 % us of the facility available. Holdings in cargojet ( including equity awards ) February 1, 2021 released by newswire as as. Constitute “ forward-looking statements ” particularly hard hit by the ongoing pandemic to announce earnings $. Board remain comprised entirely of independent directors and all committees of the between... Boeing 777 freighters will be released, prior to the brand during the of! Formal search process to identify a permanent replacement and expects to conclude it by the second results! Marketbeat just released five new trading ideas, but cargojet was n't one our... C. Doerksen expects that the shareholders vote for the year were $ 162.3 million compared to fourth quarter year... Measures we put in place in late March have now become the de-facto enabler e-commerce... Is an essential part of who we are as a company ” concluded Mr. Virmani a preliminary form...

Darren Bent Rangers, Stonehill College Niche, Martin ødegaard Liverpool, Funny Family Secrets, Christian Coulson Twitter, Fireproof Columbus Hours, Boonie Bears: The Adventurers 2, Erling Haaland Arsenal Interview, Sweet Georgia Brown, Jesús De Nazaret Biografíashadow Of A Gunman Film,