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MISSISSAUGA, Ont. 鈥?Cargojet Inc. is expanding its relationship with e-commerce giant Amazon after reaching an agreement to operate two Amazon-owned wide-body Boeing 767 aircraft within Canada.The air cargo company says the deal starting mid-year has a four-year term with possible renewals to 2031.Financial details of the transaction were not disclosed. ARTICLE CONTINUES BELOW stanley botella The contract is in addition to its existing deal that requires Amazon to fly a minimum revenue level with Cargojet.Cargojet beat out three other bidders, cementing the view that Cargojet is the key airlift supply chain partner for Amazon in its growth strategy, says Walter Spracklin of RBC Dominion Securities. ARTICLE CONTINUES BELOW He says the deal also shows that demand for e-commerce flights in Canada is significantly outstripping supply without any stanley thermobecher risk to Cargojet of filling the planes. That frees up Cargoje stanley cup t to expand more lucrative capacity for domestic and international deliveries. We are very excited to expand our long-term relationship of providing a portfolio of services which support the rapid growth of e-commerce in Canada, stated Cargojet CEO Ajay Virmani. ARTICLE CONTINUES BELOW Amazon is required to contract with a Canadian-based operator because of cabotage rules in the U.S. and Canada that prohibit foreign aircraft operators flying poi Ojre Shingletown residents fear proposed gravel pit would make road dangerous
TORONTO 鈥?The chief executive of Cineplex Inc. says his company decision to slow payments to film studios and seek rent deferrals and abatements during the pandemic was akin to moves being made by Cineworld Group PLC and other large Canadian retailers.Ellis Jacob told the Ontario Superior Court of Justice on Thursday that after the arrival of COVID-19, it was common for global theatre operators and other businesses to try to preserve cash in these ways as people avoided non-essential gatherings.They were looking for relief just lik stanley taza e we were, Jacob said. ARTICLE CONTINUES BELOW Cineplex response to the pandemic has been a key issue as the Toronto-based theatre chain faces off in court against Cineworld, a U.K. cinema company that announced it would purchase Cineplex for $2.8 billion in December 2019.Cineworld backed out of the deal in stanley website June 2020, arguing it could terminate the agreement without payment because Cineplex strayed from ordinary course. ARTICLE CONTINUES BELOW Cineplex is seeking more than $2.18 billion in damages from Cineworld, which filed a counter claim valued at about $54.8-million.Cineworld claims it was out of ordinary course for Cineplex to defer accounts payable by at least 60 days, reduce spending to the bare minimum and stop paying landlords, movie studios, film distrib stanley cup utors and suppliers at th