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Cargojet announced on Oct. 23 the extension of the Initial Term of the Master Services Agreement originally entered into in February 2014 with the Canada Post Group of Companies (CPGOC); this includes Canada Post and Purolator.
The Initial Term of the Agreement continued until March 31, 2022 with three additional 36-month renewal terms. The parties have elected to exercise the first 36-month renewal term at this time. The term will now continue until March 31, 2025.
“Cargojet is extremely pleased to have successfully transitioned and operated a highly reliable and cost-effective air network for the past 2.5 years for the Canada Post Group of Companies,” said Ajay Virmani president and chief executive officer of Cargojet.
“The business environment is changing rapidly, especially with the growth of e-commerce. Cargojet is fully equipped to service the growing demands of the marketplace. This early extension is also a testament to the confidence that CPGOC has in Cargojet’s teams capabilities and further secures our longer term commitment to providing a scalable and cost-effective service to our customers,” he added.
Cargojet is Canada’s provider of time-sensitive, overnight air cargo services, and it carries over one million pounds of cargo each business night. Cargojet operates its network across North America each business night, utilizing a fleet of all-cargo aircraft.
