Canadian Airlines has renewed its long -term transport agreement with DHL Express Telecommunications Company until March 31, 2033 and reduced DHL’s potential ownership of 9.5 % to 6.6 % to announce Wednesday two years before the expiry contract.
The reformed freight service contract is expected to deliver $ 2.3 billion in revenue for Cargojet. DHL has the right to renew the agreement twice for two -year periods, which potentially implement the contract until March 2037.
Cargojet was due to release the second trimester on Wednesday after the stock market was closed, but it has not done so since 7pm.
In early July, Cargojet renewed his contract with Amazon for four years. The contract is now implemented until March 31, 2029.
Cargojet launched flight on the 2005 Express DHL package. It now includes packaged rental packages, including aircraft, crew and mechanics for transportation flight. Carries and maintenance in cases where DHL provides its own freight plane. And the prism service for short -term capacity needs. Cargojet has a fleet of more than 40 Boeing 767 and 757 transport. Some DHL volume gestures on the Cargojet internal internal network in which the capacity is shared by different customers.
The current Cargojet contract with DHL was signed in March 2022 and was due to be implemented for five years. These companies transferred their cooperation to DHL 9.5 % of Cargojet shares after a seven -year period.
Under extensive participation, DHL continues to guarantee the minimum flight hours per month and prefers Cargojet to fly additional routes because it regulates its global network to meet the shipping demand. Cargojet also terminates guarantees to obtain more than 1.6 million voter shares and instead issue guarantees that give DHL a $ 67.90 share of $ 67.90 per share over an eight -year period, though the vest to DHL is $ 3.2 billion in business volume.
Click here to make most of American transportation/transport stories by Eric Colenish.
Write to Erik Coleich at [email protected].
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