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Cargojet revenues rise 38 per cent in 2007 fourth quarter

March 7, 2008, Mississauga, Ont. - Cargojet Income Fund, an air freight carrier, reported its fourth quarter revenues rose to $48.4 million.


March 7, 2008
By Carey Fredericks

March 7, 2008, Mississauga, Ont. – Cargojet Income Fund, an air
freight carrier, reported its fourth quarter revenues rose by 37.9
per cent to $48.4 million while earnings before interest, taxes,
depreciation and amortization increased 19 per cent.

The Mississauga, Ont. company said Friday its revenues compared
with $35.1 million in the same 2006 period. Meanwhile, so-called
EBITDA increased 19 per cent to $6.9 million from $5.8 million.

For the full year, revenues increased 12.8 per cent to $151.1
million from $134 million, while EBITDA rose 12.5 per cent to $21.6
million.

"These strong financial results demonstrate Cargojet's ongoing
commitment to profitable revenue growth while delivering the most
reliable and value added air cargo service in Canada,'' said Ajay
Virmani, president and CEO of the fund.