12:56 PM EDT, 06/10/2024 (MT Newswires) -- Cargojet ( CGJTF ) was up 3% a last look after the company said Monday said it reached an agreement with China-based Great Vision HK Express for air-cargo service between China and Canada.

Under the three-year pact, Cargojet ( CGJTF ) is providing scheduled charter services from Hangzhou, China, to Vancouver, British Columbia, and from Vancouver to Hangzhou, using Boeing 767-300F aircraft.

Cargojet ( CGJTF ) will operate a minimum of three flights per week and started service on May 22. The company has completed eight flights to date.

Total revenue for this program is estimated to be more than $160 million for the full term of the agreement.

The company's shares were last seen up $3.34 to $115.09 on the Toronto Stock Exchange.

Price: 115.09, Change: +3.34, Percent Change: +2.99