Cargojet Announces Continued Strong Third Quarter Results

Cargojet Inc. ("Cargojet" or the "Corporation") (TSX: CJT, CJT.A) announced today financial results for the quarter ended September 30, 2018.

For the Quarter Ended September 30, 2018:

Total Revenues were $114.1 million, an increase of $24.7 million or 27.6% versus the previous year
Gross Margin was $26.6 million, an increase of $1.9 million or 7.7% versus the previous year
Adjusted EBITDA was $31.5 million, an increase of $6.1 million or 24.0% versus the previous year
Adjusted EBITDAR was $33.7 million, an increase of $5.5 million or 19.5% versus the previous year
"Cargojet continues to successfully execute its financial and operational plan." said Ajay Virmani, President and Chief Executive Officer. "Our team continues to optimize our network and fleet as we adapt to our growth as the leading e-commerce middle-mile service provider in Canada. We also continue to expand our air cargo footprint around the world through our scheduled and adhoc ACMI and charter services," concluded Mr. Virmani.

Cargojet is Canada's leading provider of time sensitive overnight air cargo services and carries over 1,300,000 pounds of cargo each business night. Cargojet operates its network across North America each business night, utilizing a fleet of all-cargo aircraft.