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Be the first with the news that moves the market- Cargojet (TSX:CJT) is implementing a suite of extraordinary workplace measures to keep supply
- Cargojet to supply team members with a daily cash allowance on top of salary to cover higher childcare costs, higher groceries, etc.
- Enhanced health screening for crews and enhanced cleaning procedures
- Redeployment of international aircraft to domestic services
- Cargojet (CJT) is up 18.52 per cent to C$89.22, with a market cap of C$1.27 billion
Cargojet (TSX:CJT), has brought in extraordinary workplace measures to keep up with demand during the COVID-19 outbreak.
The air cargo freight operator has seen orders spike in recent days as global supply chains have started to constrict in the age of the corona virus.
The company flies essential supplies including health care equipment and e-commerce materials throughout Canada, especially the northern communities.
In order to keep pace with increased demand on services, the company has started giving its employees a daily cash allowance on top of their regular salary.
This is being done to offset increased costs in groceries and childcare, and ensures that employees are not taking time off during the crisis.
Cargojet is also rolling out improved security and hygiene procedures to beef up biosecurity.
Staff health screenings will be conducted at all of the company’s facilities, and the company is increasing the cleaning, disinfecting and sanitising procedures throughout its freight network.
Cargojet has also redeployed assets from international routes to domestic services.
Charter routes are being rerouted to the Canadian Overnight network, in order to deliver more equipment and cargo faster.
The company is also deploying more aircraft and staff to day time flights to cover the anticipated volume spill the company believes will come when the night flights are at capacity.
Cargojet is also playing a large part in keeping communities in northern Canada supplied throughout the crisis.
With many passenger aircraft canceling flights, and provisions usually being taken up on those, Cargojet now has an even larger role than usual in supplying those communities.
Cargojet Inc (CJT) is up 18.52 per cent to C$89.22 per share at 3:24 pm EST.
