Cargojet reported a decline in revenue and earnings for the fourth quarter, reflecting softer air cargo demand and ongoing cost pressures.
The company said quarterly revenues fell compared to the same period last year, while net profit also declined amid lower volumes in certain segments and higher operating expenses. Adjusted earnings were impacted by fuel costs, fleet-related expenditures and changes in charter activity.
Cargojet noted that while its core domestic overnight network remained stable, international charter and ad hoc services saw fluctuations in demand during the quarter. The company also cited broader market conditions, including shifts in e-commerce volumes and global trade patterns, as influencing performance.
Despite the quarterly dip, management highlighted continued investment in fleet modernisation and long-term contracts with key customers as supportive factors for future growth. The carrier remains focused on optimising network efficiency and maintaining cost discipline.
Industry analysts said the results mirror wider trends in the air freight sector, where capacity adjustments and normalising demand have weighed on yields following the pandemic-driven surge in cargo volumes.