Cargojet Inc., a Canadian cargo airline based in Mississauga, Ontario, has agreed to divest its minority stake in 21 Air LLC, a Miami-based air cargo operator. The company originally acquired a 25% interest in 21 Air in 2021 to support cross-border cargo partnerships and expand its international presence, according to earlier announcements.
The move allows Cargojet to redirect capital toward its domestic network, ACMI leases, and charter services, which form the core of its operations. Cargojet CEO Pauline Dhillon stated that the decision strengthens focus on these areas while aligning resources with the companys primary strengths. Cargojet, listed on the TSX under CJT, operates a fleet serving major North American cities and handles over 25 million pounds of cargo weekly.
Despite the divestiture, Cargojet and 21 Air plan to maintain collaboration on select commercial opportunities. The transaction reflects Cargojets strategy to prioritize high-value domestic and charter activities amid evolving global trade dynamics.