Cargojet announced today they have entered into a new Air Cargo Service Agreement with United Parcel Service Canada Ltd. (UPS). This Agreement replaces the agreement originally entered into in 2003 to provide domestic overnight air cargo services throughout Canada. "Cargojet is extremely pleased to have successfully extended our long-standing business relationship as the primary domestic air cargo service provider to UPS in Canada. Cargojet will continue to provide highly reliable and cost-effective overnight air cargo services to UPS," said Ajay Virmani President and CEO of Cargojet. "Cargojet and UPS will work together to provide Canadians with world-class and flexible air cargo services in today's changing business environment," added Virmani. The initial term of the agreement is for a ten-year period with two, three-year renewal options. "Cargojet has a proven track record of outstanding performance and world class service." said UPS Canada President, Michael Tierney. "UPS is pleased to extend this agreement through the next 10 years."