01:48 PM EST, 11/24/2025 (MT Newswires) -- Cargojet's ( CGJTF ) fourth-quarter EBITDA targets are achievable despite a challenging freight environment, notes CIBC.

Analyst Kevin Chang tracked the company's flight activity using AirNav Radar data, and observed that Cargojet's ( CGJTF ) average daily flight activity in the fourth quarter is 67 flights, 10% lower than the prior year's 74 daily flights. On a Q/Q basis, CJT's Q4/25 average daily flight activity is up 5.9%, versus the 2019-2024 average of up 2.9% Q/Q. "We suspect the outsized seasonal improvement reflects the softer Q3/25," Chang writes.

December is typically the strongest month for CJT. From 2019 to 2024, the typical M/M increase in CJT's flight activity from November to December is 7.7%.

"While CJT is managing through a challenging freight environment, based on its QTD flight activity, it would suggest CJT's Q4/25 EBITDA expectations are achievable."

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