Cargojet divests minority stake in U.S.-based 21 Air to focus on domestic operations

Cargojet divests minority stake in U.S.-based 21 Air to focus on domestic operations

In February, Cargojet reported its net earnings fell 63 per cent year-over-year to $26.6 million in the fourth quarter, while revenues decreased three per cent to $284.7 million.

Cargojet to divest stake in 21 Air to refocus on core operations (CGJTF:OTCMKTS)

Cargojet to sell minority stake in 21 Air to refocus on core cargo operations, ACMI and charters.

Canada's Cargojet to divest minority stake in US' 21 Air

Cargojet Airways (W8, Hamilton, ON) has reached an agreement to divest its 25% stake in 21 Air (2I, Greensboro Piedmont Triad International) to undisclosed parties as it executes strategy "streamlining its efforts toward areas where it has a clear strategic advantage." "This decision strengthens our focus on our robust domestic network, ACMI and charter operations, while allowing us to deploy capital in areas aligned with Cargojet's core strengt…