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Article: Canada: Cargojet Acquires the Remaining 49% Interest in Prince Edward Air Ltd.
- Article from:
- TendersInfo
- Article date:
- July 18, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: kusumv03
Cargojet Income Fund (the "Fund"), Canada's leading domestic premium overnight air cargo network operator announced today that Cargojet Airways Ltd. ("Cargojet"), a company owned by the Fund, has acquired the remaining 49% interest in Prince Edward Air Ltd. ("PEAL") for cash consideration of $1.0 million. Cargojet had previously acquired a 51% interest in PEAL on May 1, 2008.
PEAL is a specialized air cargo operator serving numerous Canadian cities since 1989 and provides dedicated cargo lift to major couriers and transportation companies. Cargojet launched its own Cargojet Regional brand in October 2007 to extend the reach and coverage ...