Canadian freight hauler Cargojet has secured a three-year deal with Chinese logistics company Great Vision HK Express to provide scheduled charter service between Vancouver and Hangzhou.
The Ontario-based company disclosed on 10 June that the agreement – worth an estimated C$160 million ($116 million) over the three-year term – calls for at least thrice-weekly flights between Canada and China using Cargojet’s Boeing 767-300 freighters.
Cargojet launched the route on 22 May and has already completed eight round trips on behalf of Great Vision HK.
The arrangement will support the “rapidly expanding Chinese e-commerce sector”, Cargojet says, connecting the Chinese logistics company to customers in Vancouver and 15 other Canadian cities.
“We continue to explore opportunities to maximize asset and aircraft utilization and look forward to a strong partnership with Great Vision HK,” says Pauline Dhillon, Cargojet’s co-chief executive officer.
Cargojet operates a fleet of 40 aircraft – 24 767s and 16 757s, according to Cirium fleets data.
In January, the carrier opted not to enter the 777 freighter market by backing out of its commitment for four of the converted widebodies, as a result of “slowing global air cargo demand”.
Cargojet reported earning C$32.5 million during the first quarter of 2024, while revenue stayed roughly flat compared with the same period last year.
