Cargojet Airways (W8, Hamilton, ON) has announced it has extended the initial term of the Master Services Agreement (MSA) originally entered into with the Canada Post Group of Companies (CPGOC) in February 2014.

The initial term of the MSA, which is set to expire on March 31, 2022, has provision for three additional thirty-six-month renewal terms. The Canadian cargo specialist said in a statement that the parties have elected to exercise the first thirty-six-month renewal term and, as such, the initial term will now continue through 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."

Under the terms of the deal, Cargojet provides CPGOC with comprehensive air cargo services across Canada, including that of courier Purolator’s national air cargo network. Cargojet also operates its network across North America each business night, utilizing a fleet of one ATR42-300(QC) (wet-leased from First Air (Carp)), seven B727-200(F)s, six B757-200(PCF)s, one B767-200(ERF), three B767-300(ERBCF)s, and five B767-300(ERBDSF)s.