Cargojet (CJT.TO) Stock Analysis & Winston Score

Cargojet is a Canadian air cargo company that flies packages and freight overnight across Canada. It operates a network of scheduled flights connecting major Canadian cities, and its main customers are large e-commerce retailers, courier companies, and logistics providers — including long-term contracts with Amazon and Canada Post. It is the dominant overnight air cargo network in Canada, controlling a large share of that market. Cargojet makes money by charging customers to carry freight on its aircraft, with a mix of long-term contracted revenue and charter flights providing some stability. It operates almost entirely within Canada, with a small number of international charter routes, and its fleet of cargo jets and exclusive time-sensitive delivery windows create a real barrier for competitors trying to replicate its network. The key growth driver is continued expansion of Canadian e-commerce, but the main risk is customer concentration — losing or renegotiating a major contract with Amazon or Canada Post would meaningfully hurt revenue.