Mississauga, ON, May 7, 2018 - Cargojet Inc. (“Cargojet” or the “Corporation”) (TSX: CJT, CJT.A) announced today financial results for the quarter ended March 31, 2018.

For the First Quarter Ended March 31, 2018:

Total Revenues were $99.2 million, an increase of $12.1 million or 13.9% versus the previous year
Gross Margin was $23.1 million, an increase of $2.2 million or 10.5% versus the previous year
Adjusted EBITDA was $27.5 million, an increase of $5.2 million or 23.3% versus the previous year
Adjusted EBITDAR was $29.8 million, an increase of $3.4 million or 12.9% versus the previous year

“Cargojet is very pleased with the continued revenue growth and margin improvements achieved during the quarter” said Ajay Virmani, President and Chief Executive Officer. “We continue to carefully manage our operating costs and focus on greater utilization of our fleet.” he added.

Cargojet is Canada's leading provider of time sensitive overnight air cargo services and carries approximately 1,300,000 pounds of cargo each business night. Cargojet operates its network across North America each business night, utilizing a fleet of 19 all-cargo aircraft. The Corporation operates over 12,000 flight legs yearly and has a team of over 900 dedicated professionals. For more information, please visit: www.cargojet.com.