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Jun 10, 2024

Cargojet signs three-year deal to operate charter flights to China

Cargojet isn’t only a growth story, is also a return on capital story: analyst

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Cargojet Inc. has signed a three-year agreement with Chinese company Great Vision HK Express to provide scheduled charter flights between Vancouver and China.

The company says it will fly a B767-300F aircraft on a route connecting Hangzhou, China, and Vancouver.

Under the agreement, Cargojet will operate a minimum of three flights per week.

Cargojet says total revenue for the program is estimated to top $160 million for the full term of the agreement.

Service began on May 22.

Cargojet provides air cargo services to cities across North America with a fleet of 41 aircraft.

This report by The Canadian Press was first published June 10, 2024.