Cargojet reports strong earnings in Q4 and for 2018

posted on 21st February 2019 by Justin Burns

Canadian freighter carrier Cargojet has reported strong earnings for the fourth quarter (Q4) of last year and for 2018 as a whole.

For Q4 ending 31 December, adjusted EBITDA was $40.2 million, an increase of $2.9 million or 7.8 per cent versus the previous year. Total revenues were $132.6 million, an increase of $14.4 million or 12.2 per cent more than Q4 2017.

For 2018, adjusted EBITDA was $128 million, an increase of $18.5 million or 16.9 per cent versus the previous year and total revenues were $454.9 million, an increase of $72 million or 18.8 per cent more than Q4 2017.

“Cargojet continued to produce strong revenue and EBITDA growth in 2018,” said Cargojet president and chief executive officer, Ajay Virmani.

“We are very pleased with our financial and operating results as we prudently manage our capacity to meet air cargo demand particularly related to e-commerce growth in Canada as well as our expanding ACMI and ad-hoc charter business.”

“The continued year over year results are a direct reflection of the Cargojet team’s efforts and dedication in continuing to provide a first class service to our customers,” he added.