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    CJT   CA14179V5036

CARGOJET INC.

(CJT)
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Cargojet : appoints Mr. Vito Cerone to Senior Vice President - International

09/08/2021 | 07:31am EDT

MISSISSAUGA, ON, Sept. 8, 2021 /CNW/ - Cargojet Inc. ("Cargojet" or the "Corporation") (TSX: CJT) announced the appointment of Vito Cerone, as Senior Vice President, International effective immediately.

Prior to joining Cargojet, Vito was most recently the Vice President, Cargo Sales & Commercial Strategy at Air Canada where he oversaw the optimization of all global sales and commercial activities. As a senior executive, with over 30 years in the aviation industry, Vito held several senior leadership roles within the Cargo business. Prior to moving to Cargo, Vito spent 12 years in various commercial roles with the passenger segment of Air Canada.

Reporting directly to the CEO, Vito will be responsible to lead and implement Cargojet's International expansion. Vito will also be responsible for growing Cargojet's Charter, ACMI and Interline partnerships. 

We have gone through a dramatic shift in our business over the past 18 months that has created new and exciting growth opportunities. Building on the success of a strong domestic network and the acquisition of seven (7) Boeing 767 and four (4) 777-300 freighters, Cargojet is rapidly moving forward on building a synergistic international business and we are thrilled to welcome Vito to the Cargojet family. Vito is a recognized leader in the global logistics industry and highly respected for his global relationships and commercial acumen." said Ajay Virmani, President and Chief Executive Officer.  

Vito will be based at Cargojet's headquarters in Mississauga, Ontario as well Carojet's Montreal offices as he leads a team of sales and marketing professionals.

Vito holds a bachelor's degree from Concordia University.

About Cargojet

Cargojet is Canada's leading provider of time sensitive premium air cargo services to all major cities across North America, providing Dedicated, ACMI and International Charter services and carries over 25,000,000 pounds of cargo weekly. Cargojet operates its network with its own fleet of 28 Cargo aircraft.

SOURCE Cargojet Inc.

© Canada Newswire, source Canada Newswire English

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Analyst Recommendations on CARGOJET INC.
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Financials
Sales 2021 710 M 573 M 573 M
Net income 2021 131 M 105 M 105 M
Net Debt 2021 303 M 245 M 245 M
P/E ratio 2021 24,4x
Yield 2021 0,53%
Capitalization 3 309 M 2 675 M 2 674 M
EV / Sales 2021 5,09x
EV / Sales 2022 4,63x
Nbr of Employees 1 398
Free-Float 96,6%
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Mean consensus BUY
Number of Analysts 12
Last Close Price 194,02 CAD
Average target price 249,75 CAD
Spread / Average Target 28,7%
EPS Revisions
Managers and Directors
Ajay K. Virmani President & Chief Executive Officer & Director
Sanjeev Maini Chief Financial Officer & Vice President-Finance
Paul Victor Godfrey Independent Chairman
Anju Virmani Chief Information Officer
John P. Webster Lead Independent Non-Executive Director
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