Cargojet recorded a 7% year-on-year increase in revenues in 2019, helped in part by a strong end to the year.
The Canada-based freighter operator saw revenues for 2019 reach C$486.6 m, adjust earnings before interest, tax, depreciation and amortisation (EBITDA) were up 21.9% to C$119.2 m though net earnings were down 42.6% to C$11.6 m.
Strong revenue (which saw a decline in 2018) and EBITDA growth in 2019 were driven by a record peak season and improvements in its domestic network volumes and ACMI business.
Cargojet handled record volumes for 2019 peak season. Its efforts to prudently manage costs are yielding better margins and it continues to optimise fleet utilisation.
Cargojet operates its network across North America, serving 15 major cities, and selected international destinations click this. It owns a fleet of 26 aircraft.
Source : Various Agencies