Cargojet’s revenues up 15.7% in 2017

Canadian air cargo carrier Cargojet’s revenues for 2017 increased by 15.7 per cent to $382.9 million in 2017.

The airline released the figures as part of its financial results for the fourth quarter and the year ending 31 December 2017.

Last year, Cargojet’s gross margin was $106.3 million, an increase of $20.5 million and 23.9 per cent up on 2016.

Adjusted EBITDA was $109.5 million, a rise of $16.4 million or 17.6 per cent versus the previous year.

Cargojet’s president and chief executive officer, Ajay Virmani said: “We continue to execute our plan to optimise our overnight network and to improve aircraft utilisation while meeting the growing demands of e-commerce activity.”

He added: “These results are a testament to the tremendous efforts of the entire Cargojet team as we continue to focus on prudent cost controls and revenue growth while continuing to provide a value added service to our customers.”