- Business
- Cargojet Inc. Cargojet Inc. (TSX: CJT), founded in 2002 and headquartered in Mississauga, Ontario, Canada, operates as the leading provider of time-sensitive premium air cargo services across North America and select international destinations; it runs a domestic overnight network connecting over 16 Canadian cities with more than 80 nightly flight legs using Boeing 757-200F, 767-200F, and 767-300F freighters, transporting over 25 million pounds of cargo weekly; offers dedicated aircraft services on an ACMI (aircraft, crew, maintenance, insurance) and CMI (crew, maintenance, insurance) basis for scheduled routes to the United States, Bermuda, Europe (including the UK and Germany), Asia, Mexico, South America, and Latin America; provides all-in charter services for specialized cargo such as dangerous goods, heavy/oversized loads, humanitarian relief, automotive, oil and gas, e-commerce, and remote destinations; and extends international cargo services integrated with its domestic network. The company serves courier, logistics, e-commerce, and freight forwarding sectors, holding over 90% share of Canada's domestic overnight air cargo capacity with a fleet of 41 all-Boeing freighters and a workforce exceeding 1,800 employees. Recent developments include the renewal of its long-term strategic partnership with DHL Group in August 2025, extending services through 2033 with up to C$3.2 billion in targeted revenue via ACMI, CMI, charter, and dry lease offerings and performance-based warrants; a multi-year contract extension with Amazon Canada Fulfillment Services, ULC in July 2025 through March 2029 (with option to 2031); launch of a scheduled direct air cargo route from Liege Airport, Europe, to Canadian hubs effective November 2025; announcement in November 2025 of Pauline Dhillon succeeding as sole CEO effective January 2026 following Co-CEO Jamie B. Porteous's retirement at year-end (with him staying on as strategic advisor through 2026); issuance of $250 million 4.599% senior unsecured notes due 2030 in June 2025 to refinance higher-cost debentures and amend its credit facility to unsecured terms; renewal of its normal course issuer bid in November 2025 for up to 1.4 million shares; and achievement of investment-grade BBB (low) rating from Morningstar DBRS in June 2025.