Cargojet Inc. (CJT.TO) announced that it entered into a new Air Cargo Service Agreement with United Parcel Service Canada Ltd. (UPS). The Agreement replaces the agreement originally entered into in 2003 to provide domestic overnight air cargo services throughout Canada.
“Cargojet is extremely pleased to have successfully extended our long-standing business relationship as the primary domestic air cargo service provider to UPS in Canada. Cargojet will continue to provide highly reliable and cost-effective overnight air cargo services to UPS,” said Ajay Virmani President and CEO of Cargojet.
The initial term of the agreement is for a ten-year period with two, three-year renewal options.