Cargojet Inc. executives say a new contract gives its pilots a 46 per cent wage boost over five years.
The Mississauga, Ont.-based air freight company says the collective agreement handed down by an arbitrator late last month brings its roughly 470 aviators up to industry standards.
On a conference call with analysts Tuesday, chief financial officer Aaron McKay said the deal includes a 26 per cent pay hike in the first year and five per cent annually over the next four years.
He says the agreement, retroactive to July 1, significantly raises flight crew costs but also includes productivity provisions such as moving to a baseline of 16 working days per month, up from 15 before.
Cargojet’s business hinges on air delivery of e-commerce goods on its fleet of 41 planes.
On Monday evening, the company reported that net earnings swung to a $7-million profit in its latest quarter compared with a $3.2-million loss a year earlier, while second-quarter revenue rose 16 per cent to $275.8 million.
This report by The Canadian Press was first published Aug. 11, 2026.
Companies in this story: (TSX:CJT)
