A Cargojet shipping facility is shown at the John C. Munro Hamilton International Airport in Hamilton, Ont., Friday, Feb. 23, 2024.THE CANADIAN PRESS/Nick Iwanyshyn
MISSISSAUGA, Ont. – Cargojet Inc. reported a $25-million loss in the second quarter, down from a profit of $31.1 million a year earlier.
The Mississauga-based air freight and plane leasing company says its revenues totalled $230.8 million, up from $209.7 million during the same quarter last year.
Loss per diluted share was $1.53, down from earnings of $1.68 last year.
Co-chief executive officer Jamie Porteous says geo-political challengers and broader economic headwinds continue to affect the overall transportation industry.
He says Cargojet is focused on continuing to grow revenues.
Earlier this year, Cargojet signed a three-year agreement with Chinese company Great Vision HK Express to provide scheduled charter flights between Vancouver and China.
This report by The Canadian Press was first published August 13, 2024.
Companies in this story: (TSX:CJT)
