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Emirates SkyCargo reaches Cargo iQ milestone
DUBAI: November 14, 2018. Emirates SkyCargo says i...

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New Swiss battery saves electric vehicle R&D
BRUNNEN/SCHWYZ, Switzerland: November 14, 2018. Sw...

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Maersk profit up with container trade warning
COPENHAGEN: November 14, 2018. The A P Møll...

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DB Schenker wants greater cuts in truck emissions
ESSEN: November 12, 2018. In anticipation of a vot...

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GAC Dubai opens largest contract logistics facility
DUBAI: November 12, 2018. GAC Dubai has officially...

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DP World now largest investor in Virgin Hyperloop One
DUBAI: November 12, 2018. Sultan Ahmed bin Sulayem...

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Palletways Italia introduces first electric trucks
BOLOGNA, Italy: November 9, 2018. Palletways Itali...

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Cargolux brings 3,000 years of Chinese heritage to Europe
LUXEMBOURG: November 8, 2018. Cargolux has transpo...

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Turkish Cargo joins Pharma.Aero
ISTANBUL: November 8, 2018. Turkish Cargo has join...

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Emirates SkyCargo reaches Cargo iQ milestone
New Swiss battery saves electric vehicle R&D
Maersk profit up with container trade warning
DB Schenker wants greater cuts in truck emissions...
GAC Dubai opens largest contract logistics facility
DP World now largest investor in Virgin Hyperloop...
Palletways Italia introduces first electric trucks
Cargolux brings 3,000 years of Chinese heritage to...
Turkish Cargo joins Pharma.Aero
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MISSISSAUGA, ON: Cargojet, Canada's time-sensitive cargo delivery airline, has reported a net loss of Can$2.2 million for Q3 2015 despite a 59.5 percent increase in revenue to Can$75.3 million year-on-year.

Revenue for the first nine months of 2015 was Can$204.5 million - up 51.2 percent from 2014 – and the net loss rose Can$12.1 million to Can$16.6 million for the period.

"We are very pleased with our financial and operating results during the quarter," said Ajay Virmani, president and CEO. "As we continue to adjust capacity to meet actual demand we are seeing the expected improvements in overall margins. Customer volumes, particularly those related to e-commerce shipping, continued to grow in the quarter as we approach the traditional peak shipping season." he added.

The company initiated a fleet expansion program early in 2014 to replace four of its B727-200s with B757-200ER aircraft due to increased customer demand on its core overnight network. Cargojet has also added B767-200/300 ER capacity and now operates 11 such aircraft following the award of a seven-year, Can$1 billion contract from Canada Post.

As a result, the company's expenses rose Can$63.3 million to Can$185.6 million for the first nine months of 2015 to support its 14-city overnight network throughout Canada operating primarily from Monday to Thursday with a reduced service on Friday.

Cargojet also operates a five-day per week service between Newark, NJ and Hamilton, Bermuda.

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