Cargojet has announced strong financial results for the fourth quarter and year ended December 31, 2019.
The air cargo operator reported total revenues for the fourth quarter of C$139.7 million, an increase of C$7.1 million, an increase of 5.4 percent year-on-year. Revenue growth excluding fuel surcharges and other pass through costs was 9.2 percent.
While total revenues for the year ended December 31, were C$486.6 million, an increase of 7.0 percent year-on-year. Revenue growth excluding fuel surcharges and other pass through costs was 9.9 percent.
Ajay Virmani, president and chief executive officer, Cargojet, commented: “We remain focused on executing our strategy and are driving growth in each of our lines of business. Once again, we handled record volumes for 2019 peak season while delivering exceptional service to our customers.
“Our efforts to prudently manage costs are yielding better margins and we continue to optimize our fleet utilization. Cargojet team once again delivered a strong quarter making us incredibly proud of their dedication and hard work.”