CargoJet revenue declines Y-O-Y amidst weak air cargo demand

CargoJet reported the total revenue of $209.7 million for second quarter (Q2) 2023, about 37 million less than Q2, 2022 due to declining demand for air cargo. The Q2, 2022 revenue was $246.6 million. Revenue excluding fuel surcharge and other revenues was $171.6 million as against $177.2 million reported the same time last year. The adjusted EBITDA for the quarter was $74.3 million compared to the second quarter 2022. Adjusted Free Cash Flow was $52.3 million for the three-month period ended June 30, 2023 compared to $41.2 million for the same period in 2022. CargoJet reported net income of $31.1 million for