Mississagua, ON — Cargojet announced that they have extended the Initial Term of the Master Services Agreement originally entered into in February 2014 with the Canada Post Group of Companies (CPGOC).
The Initial Term of the Agreement continued until March 31, 2022 with three (3) additional thirty-six (36) month renewal terms. The parties have elected to exercise the first thirty-six (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 two and one-half years for the Canada Post Group of Companies,” said Ajay Virmani President and CEO 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,” added Virmani.