Cargojet Inc - CGJTF stock
OTC Symbol: CGJTF | OTC Tier: Pink Current
Introduction[edit]
Cargojet Inc. is a Canadian company that offers time-sensitive overnight air cargo services, operating a domestic air cargo network within Canada, providing dedicated aircraft services across North and South America and Europe, managing scheduled international routes, and providing specialized charter services for various shipments, with a fleet of 39 aircraft as of December 31, 2022, and was founded in 2001 with its headquarters in Mississauga, Canada.[1]
History[edit]
Cargojet Inc. is a Canadian cargo airline that was founded in 2002. It was established by Ajay K. Virmani, a successful entrepreneur and businessman. The company's headquarters is located in Mississauga, Ontario, Canada. Cargojet was founded with the vision of providing time-sensitive overnight air cargo services within Canada. The company focused on creating a reliable and efficient domestic air cargo network, offering quick and secure transportation of goods between various Canadian cities.[2]
In August 2001, Dr. Ajay Virmani established Canada 3000 Cargo Inc. in collaboration with Canada 3000 Airlines. By 2002, Dr. Virmani fully acquired Canada 3000 Cargo Inc., renaming it to Cargojet Canada Ltd. By July 2002, the company had taken over Winnport Logistics. In 2005, Cargojet transitioned into a publicly-traded company. Then, in May 2019, the company publicized its alliance with the renowned Canadian rapper, Drake, making him a brand ambassador.[3]
Over the years, Cargojet expanded its operations and services beyond the domestic market. It began providing dedicated aircraft services to customers on an aircraft, crew, maintenance, and insurance (ACMI) basis, operating between points in Canada, North and South America, and Europe. Additionally, the company started offering scheduled international routes for various cargo customers, linking destinations such as the United States, Bermuda, the United Kingdom, and Germany.[2]
Operations[edit]
As of December 31, 2022, the company operated a fleet of 39 aircraft, further solidifying its position as a prominent player in the air cargo transportation sector in Canada and beyond.[2] Operations include 31 sales and 18 handling locations in 19 different countries in North America, South America and Europe.[4]
Large Customers[edit]
The majority of the carrier's clientele comprises a few third-party logistics providers. Cargojet's internal services within Canada are essential for the distribution channels of Canada Post/Purolator, FedEx, and Amazon. While there are profitable contracts in place that ensure this relationship, the leverage largely lies in the hands of the customers.[5]
Destinations[edit]
Cargojet provides domestic cargo services to 15 locations within Canada. Additionally, they run an international cargo service that encompasses several global destinations, including Bermuda, Cuba, Germany, Japan, Mexico, the UK, and the USA.[3]
- ↑ Yahoo Finance. CGJTF Stock Profile. Retrieved on 8/25/2023.
- ↑ 2.0 2.1 2.2 cargojet.com. About Us. Retrieved on 8/4/2023.
- ↑ 3.0 3.1 Wikipedia. Cargojet. Retrieved on 8/25/2023.
- ↑ cargojet.com. Locations. Retrieved on 8/25/2023.
- ↑ The Flying Moose. Does Cargojet have competition?. February 14, 2021.
