Well this is from web:
Company Name : Cargojet Income Fund
Company Profile
Filing Date : 4/26/2005
Offering : TBD
Price : $10.00 per Unit
Closing Date : TBD
Exchange : TSX
Eligibility : British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, Yukon, Nunavut, Northwest Territories
Underwriters :
RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., Genuity Capital Markets
Associations :
Issuer's Law Firm : Cassels Brock & Blackwell LLP
Underwriter's
Law Firm : Torys
Auditor : Deloitte & Touche LLP
Transfer Agent : Computershare Trust Company of Canada
Business Description :
Cargojet Income Fund is an unincorporated, open-ended, limited purpose trust established under the laws of the Province of Ontario. The Fund was created to indirectly acquire and hold limited partnership units of Cargojet Holdings Limited Partnership which, in turn, has been formed to acquire all of the outstanding common shares of Cargojet Holdings Ltd. from the current shareholders of the Company. Cargojet is Canada's leading provider of time sensitive overnight air cargo service with a co-load network that management believes constitutes approximately 50% of Canada's dedicated domestic overnight air cargo capacity. Cargojet's co-load network consolidates cargo received from over 200 customers and transports such cargo to the appropriate destination in a cost efficient and reliable manner. Cargojet operates its network from coast to coast transporting over 500,000 pounds (226.8 tonnes) of volumetric time sensitive air cargo to thirteen major cities in Canada each business night. Cargojet is the only operator of dedicated cargo aircraft operating on a scheduled route network across Canada and offering air cargo transportation to multiple customers. The Company currently owns six and leases five Boeing 727-200 (``B727-200'') Advanced aircraft. In 2004, Cargojet operated 5,458 flights of which more than 98% arrived at destination within 30 minutes of scheduled arrival time.
The Company's top 10 customers include some of the global transportation industry's largest couriers, including UPS Canada Ltd. and DHL Express Canada as well as major freight forwarding companies, including Eagle Global Logistics. Customers typically contract for a minimum dedicated amount of capacity on the Company's network on a fixed and guaranteed daily revenue basis. For the twelve months ended March 31, 2005, 70% of Cargojet's overnight air cargo revenue was generated by guaranteed contracts, with the remaining space available sold on a non-guaranteed basis.
In addition to its overnight air cargo service, the Company also provides and operates dedicated aircraft on a wet lease basis and provides dedicated aircraft charter services. The Company began operating its first Canada-United States dedicated freighter aircraft on a contract basis in mid 2004.
Industry Category : Trust Units, Income Trust
Company Financials :
Fiscal Year-End : December 31
Financials : Revenue for the 12 months ended March 31, 2005 - $106,034,000
Net income for the 12 months ended March 31, 2005 - $2,665,000
Revenue for the year ended December 31, 2004 - $9,596,000
Net income for the year ended December 31, 2004 - $3,915,000
CARGOJET GOING PUBLIC?
Moderators: North Shore, sky's the limit, sepia, Sulako
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aero-singidunum
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Aero,
Revenue for the year end 2004 $9M yet $106M for the 12 mos ending March 2005? Need to check you numbers there I think, or it's been a monster first quarter.
The number refered to in the $14M is the EBIT and the number the investors will be using to guage the financial success of the company.
Rather than picking up a snippet or two on a few web searches, download the propectus from the SEDAR site and give it a once over (about 128 pages).
In the end, it's a great place to work with a LOT of excellent people. From the ownership group, management, flight crews & mechanics, down to the warehouse guys it's a great group of people.
People were knocking it petty hard 3 years ago and the company managed to do it - become independant, secure 12 aircraft, along with a few key awards along the way. This is just the next step in the evolution of the company.
Revenue for the year end 2004 $9M yet $106M for the 12 mos ending March 2005? Need to check you numbers there I think, or it's been a monster first quarter.
The number refered to in the $14M is the EBIT and the number the investors will be using to guage the financial success of the company.
Rather than picking up a snippet or two on a few web searches, download the propectus from the SEDAR site and give it a once over (about 128 pages).
In the end, it's a great place to work with a LOT of excellent people. From the ownership group, management, flight crews & mechanics, down to the warehouse guys it's a great group of people.
People were knocking it petty hard 3 years ago and the company managed to do it - become independant, secure 12 aircraft, along with a few key awards along the way. This is just the next step in the evolution of the company.
ratsirt wrote:I have nothing against Cargojet, I really do wish them the best.
Are these numbers incorrect?
December 31
Financials : Revenue for the 12 months ended March 31, 2005 - $106,034,000
Net income for the 12 months ended March 31, 2005 - $2,665,000
Revenue for the year ended December 31, 2004 - $9,596,000
Net income for the year ended December 31, 2004 - $3,915,000
I dont know, I didnt print those. The data I've used are those laid out in the prospectus.
At a glace I'd ask you if the revenue figures look correct to you. $9M for all of 2004 and $106M for the 12 mos ending March 2005? Not sure where you pulled that from but it doesnt look correct to be. But I'm not a analysist, a financial advisor, banker, etc. Hell, I barely got through calculus class so don't listen to what I have to say. Grab the prospectus and draw your own conclusions. If you see an opportunity for a good investment jump on in.
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aero-singidunum
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Well, i am not trying to start new war, i found same numbers on that link that i posted. I do not have any bad feelings, i am not former employee,
Ratsirt is most likely from ACE, and i can see that bad blood.
I just tried to say that if they get that much pure ravenue, employees should get a small peice of pie.
My friend that works in CJA, told me that is best company to work for in Canada. From his stories i can see that company has structure and that AJ has ability to make a Top 50 Company, my only idea is that CJA should or make discount for their own employees, or give every employee
100 units (that is $1000.00).
I think with that he will make a awesome move and prove that he will stay in for longer period of time.
I beleive (Ratsirt can confirm) ACE has company match RRSP up to 3,5%.
Ratsirt is most likely from ACE, and i can see that bad blood.
I just tried to say that if they get that much pure ravenue, employees should get a small peice of pie.
My friend that works in CJA, told me that is best company to work for in Canada. From his stories i can see that company has structure and that AJ has ability to make a Top 50 Company, my only idea is that CJA should or make discount for their own employees, or give every employee
100 units (that is $1000.00).
I think with that he will make a awesome move and prove that he will stay in for longer period of time.
I beleive (Ratsirt can confirm) ACE has company match RRSP up to 3,5%.
No, never took it as starting a fight Aero, don't worry about that. I also don't think Ratsirt was starting anything, just laying out the data he had.
The ownership group has always taken good care of the employees and I don't think anyone at CJT would doubt that will continue.
It's hard to know what the units are going to do as they haven't completed the IPO yet.
Regarding the RRSPs, it's very possible they will come with time. ACE has been around much longer than CJT and I wouldnt be surprised to see something like that (RRSP plan?) down the road. Me, I take care of my own investiments and dont worry about things like pensions (dont look any further than United to know why).
For now, I think most every employee is quite content with the company and in time as the company succeeds so will the employees. Ajay has shown a great deal of care for the employees (all groups) and will want to share the incentives to make us a stong viable corporation.
If the company had been around 20 years I might tend to agree with you more, but it's still so young and still getting settled. It's been 3 years of non-stop growth just getting things solid.
Personally, I'd rather ensure a stable/secure employer that'll be around for the long run rather than a short term gain.
Remember, it's a small company and these guys are probably knee deep in getting this thing rolling.
Don't sweat it, never took anything as being hostile.
Anyhow, just my two cents...
The ownership group has always taken good care of the employees and I don't think anyone at CJT would doubt that will continue.
It's hard to know what the units are going to do as they haven't completed the IPO yet.
Regarding the RRSPs, it's very possible they will come with time. ACE has been around much longer than CJT and I wouldnt be surprised to see something like that (RRSP plan?) down the road. Me, I take care of my own investiments and dont worry about things like pensions (dont look any further than United to know why).
For now, I think most every employee is quite content with the company and in time as the company succeeds so will the employees. Ajay has shown a great deal of care for the employees (all groups) and will want to share the incentives to make us a stong viable corporation.
If the company had been around 20 years I might tend to agree with you more, but it's still so young and still getting settled. It's been 3 years of non-stop growth just getting things solid.
Personally, I'd rather ensure a stable/secure employer that'll be around for the long run rather than a short term gain.
Remember, it's a small company and these guys are probably knee deep in getting this thing rolling.
Don't sweat it, never took anything as being hostile.
Anyhow, just my two cents...
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aero-singidunum
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I am more then aware what CJT (or CJA) did in 3 years, it is a big story is Canadian Aviation, just look Jetsgo.I do know more then few guys there, some are drivers, some wrench, and they do have only good things to say about this outfit.
I am also sure that AJ will get planes to do Asia and Europe and it will be a smart move, he does not make mistakes, or has a very good advisors..
Or too many good links in politics
, hope that others in Aviation in this country do same, not only pilots counting hours to leave, and AME's lub wheels on their toolboxes to go to other place.
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aero-singidunum
- Rank 4
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- Joined: Sun Apr 25, 2004 10:03 am
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aero-singidunum
- Rank 4
- Posts: 264
- Joined: Sun Apr 25, 2004 10:03 am
LOL
I was going to get fished in and write a detailed response to you but it's not worth feeding into a forum troll that makes a crazy comment such as yours without a shed of anything to substanciate your "claim".
How's this...
You're absolutely right. Nothing like something of value for free to really screw ya. Man, the nerve of them!
The company held five percent of the trust units aside to GIVE to the employees all at once. You can sell them tomorrow if you want, hold them and collect the monthly disributible income cheques, whatever you want to do - they're yours. Terrible, terrible thing the company is doing taking advantage of all the employees like that.
Yep, you're totally right, we're getting shafted here! LOL.
For whatever reason you're unhappy with your AME position in Vancouver, don't go slandering other employers simply because of your particular plight (whatever it may be).
Of course anyone in Cargojet that disagrees I'm sure is welcome to turn them down and leave more in the pot for the rest of the group. I don't think management will threaten us to take them... lol
I was going to get fished in and write a detailed response to you but it's not worth feeding into a forum troll that makes a crazy comment such as yours without a shed of anything to substanciate your "claim".
How's this...
You're absolutely right. Nothing like something of value for free to really screw ya. Man, the nerve of them!
The company held five percent of the trust units aside to GIVE to the employees all at once. You can sell them tomorrow if you want, hold them and collect the monthly disributible income cheques, whatever you want to do - they're yours. Terrible, terrible thing the company is doing taking advantage of all the employees like that.
Yep, you're totally right, we're getting shafted here! LOL.
For whatever reason you're unhappy with your AME position in Vancouver, don't go slandering other employers simply because of your particular plight (whatever it may be).
Of course anyone in Cargojet that disagrees I'm sure is welcome to turn them down and leave more in the pot for the rest of the group. I don't think management will threaten us to take them... lol
OK...................................It wasn't ment as slander - just something else to think about. I'm just trying to say there could be more going on than you guys relize.
If thats really the way it's going to work than good for you, It's nice to see something good happening to Canadian companies, and I have nothing against Cargojet - they have done really well and you guys have worked hard. However, I've been in your same spot before - and come out on the short end of the stick later on. Just saying be causious when moving forward.
BTW - I couldn't be more happier with my job right now!
If thats really the way it's going to work than good for you, It's nice to see something good happening to Canadian companies, and I have nothing against Cargojet - they have done really well and you guys have worked hard. However, I've been in your same spot before - and come out on the short end of the stick later on. Just saying be causious when moving forward.
BTW - I couldn't be more happier with my job right now!
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aero-singidunum
- Rank 4
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- Joined: Sun Apr 25, 2004 10:03 am
