Cargojet has announced financial results for the second quarter of 2025 ended 30 June 2025.
- Total revenues, driven by a 14% increase in domestic revenues and 22% growth in charter revenues, came in at $238.2mn, an increase of $7.4mn or 3.2% compared to the same period of previous year.
- Adjusted EBITDA was $80.2mn, an increase of $1.1mn or 1.4% compared to the same quarter of previous year.
- Net loss was $3.2mn, a decrease of $21.8mn or 87.2% compared to a net loss of $25mn for the second quarter of 2024.
- Achieved another record on-time arrival performance of 99.5% within 15 minutes of scheduled arrival time during the quarter.
Jamie Porteous, co‑chief executive officer of Cargojet, said: “Cargojet posted strong overall revenues despite ongoing uncertainty and a weakening economic outlook, underscoring the strength of our network.
“Softness in the ACMI segment from weaker European traffic was more than offset by robust domestic and charter revenue growth, and with the EU‑US trade deal now in place, we expect the EU–US corridor to reopen and generate new ACMI and charter opportunities in the coming quarters.
Pauline Dhillon, co-chief executive officer, said: “Ensuring that we can deliver shareholder value in any economic cycle remains a clear priority.
“Our company wide cost management and productivity initiatives produced a year-on-year improvement in adjusted EBITDA and sequential improvement of 140 basis-point increase in adjusted EBITDA margins, despite a 10% drop in block hours flown during Q2 versus the prior year.”
Cargojet Q2 2025 results:
- Total revenue: $238.2mn
- Total expenses: $212.3mn
- Operating earnings: $2.1mn with adjusted EBITDA of $80.2mn
- Net cash flows from operating activities of $28mn
- Net loss of $3.2mn and adjusted earnings per share of $1.02
