Only direct scheduled freighter service between Canada and Latin America
MONTREAL, QC and MISSISSAUGA, ON, April 13, 2016 /PRNewswire/ - Air Canada (TSX: AC) and Cargojet Airways Ltd., a subsidiary of Cargojet Inc. (TSX: CJT, CJT.A), ("Cargojet') today announced they are finalizing a commercial arrangement that will result in Air Canada Cargo introducing dedicated freighter services from Canada to Latin America and Europe with Boeing 767-300ER freighter aircraft operated by Cargojet. Air Canada Cargo will become the only provider of direct scheduled freighter service between Canada and Latin America.
The new Air Canada Cargo flights will provide 52 tonnes of net cargo capacity and are scheduled to begin June 9, 2016, subject to obtaining the necessary regulatory approvals.
Initial service will operate on the following routes:
- Toronto to Bogota, Colombia and Lima, Peru via Atlanta, GA
- Toronto to Mexico City via Dallas/Fort Worth, TX.
Under the arrangement, Air Canada Cargo also plans to introduce dedicated freighter service to Europe from Toronto in the second half of 2016.
"We are thrilled to offer our customers the only dedicated freighter service between Canada and Latin America," said Lise-Marie Turpin, Vice President, Air Canada Cargo. "Working with Cargojet, we are able to leverage and build upon Air Canada's extensive North American and international networks. We look forward to continuing to grow our dedicated freighter network to Europe later this year and for a successful and mutually beneficial relationship with Cargojet into the future."
"This new arrangement builds on Cargojet's long-standing relationship with Air Canada Cargo and is a win-win for both parties," said Ajay K. Virmani, President and Chief Executive Officer of Cargojet. "It allows us to optimize our overall freighter aircraft utilization and to expand our range of services and customer base with Air Canada."
About Air Canada Cargo
Air Canada Cargo provides direct cargo services to over 150 Canadian, U.S. transborder and international destinations and has sales representation in over 50 countries. With hubs in Montreal, Toronto, Calgary, Vancouver, London and Frankfurt, the Air Canada Cargo network is extended through interline agreements with other air carriers and through ground trucking services offered in selected markets, serving more than 450 destinations in all.
Air Canada Cargo is Canada's largest provider of air cargo services as measured by cargo capacity. Main customers are large freight forwarding companies and businesses whose products require the use of air services to expedite their time sensitive cargo shipments. Shipping solutions are tailored to best meet specific commodities and time requirements of our customers cost-efficiently. For more information, please visit: www.aircanada.com/cargo
Cargojet is Canada's leading provider of time sensitive overnight air cargo services. Cargojet services 14 major city centers coast to coast each business night. Cargojet operates its network across North America carrying approximately 1,300,000 pounds of cargo each business night. Cargojet has a fleet of 22 aircraft consisting of B767-300ER, B767-200ER, B757-200ER and B727-200AF long range freighter aircraft. For more information please visit www.cargojet.com
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release includes forward-looking statements within the meaning of applicable securities laws. Forward-looking statements relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may involve, but are not limited to, comments relating to preliminary results, guidance, strategies, expectations, planned operations or future actions. Forward-looking statements are identified by the use of terms and phrases such as "preliminary", "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would", and similar terms and phrases, including references to assumptions. Forward-looking statements, by their nature, are based on assumptions, including those described herein and are subject to important risks and uncertainties. Forward-looking statements cannot be relied upon due to, amongst other things, changing external events and general uncertainties of the business. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including the factors identified throughout this news release and those identified in any issuer's public disclosure record. The forward-looking statements contained in this news release represent expectations as of the date of this news release (or as of the date they are otherwise stated to be made), and are subject to change after such date. However, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, is disclaimed, except as required under applicable securities regulations.
SOURCE Air Canada