Mississauga, ON, March 12, 2018 - Cargojet Inc. (“Cargojet” or the “Corporation”) (TSX: CJT, CJT.A) announced today financial results for the fourth quarter and year ended December 31, 2017.

For the Fourth Quarter Ended December 31, 2017:

Total Revenues were $118.2 million, an increase of $24.1 million or 25.6% versus the previous year
Gross Margin was $37.4 million, an increase of $9.9 million or 36.0% versus the previous year
Adjusted EBITDA was $37.3 million, an increase of $9.4 million or 33.7% versus the previous year
Adjusted EBITDAR was $40.1 million, an increase of $7.8 million or 24.1% versus the previous year
For the Year Ended December 31, 2017:

Total Revenues were $382.9 million, an increase of $51.9 million or 15.7% over the previous year
Gross Margin was $106.3 million, an increase of $20.5 million or 23.9% versus the previous year
Adjusted EBITDA was $109.5 million, an increase of $16.4 million or 17.6% versus the previous year
Adjusted EBITDAR was $122.9 million, an increase of $9.6 million or 8.5% versus the previous year

“We are very pleased with the strong financial results achieved in the fourth quarter.” said Ajay Virmani, President and Chief Executive Officer. “We continue to execute our plan to optimize our overnight network and to improve aircraft utilization while meeting the growing demands of e-commerce activity” he added. “These results are a testament to the tremendous efforts of the entire Cargojet team as we continue to focus on prudent cost controls and revenue growth while continuing to provide a value added service to our customers.”

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. For more information, please visit: www.cargojet.com.