Cargojet pilots to receive 46% wage hike over five years

Pilots at Cargojet Inc. CJT-T will receive a 46-per-cent wage boost under a new five-year contract, which the air freight company says aims to boost productivity as the firm reaches for new business in Europe, Asia and Africa. On a conference call with analysts Tuesday, chief financial officer Aaron McKay said the collective agreement handed down by an arbitrator late last month brings its roughly 470 aviators up to industry standards. The deal includes a 26-per-cent pay hike in the first year and 5 per cent annually over the next four years, he said. The agreement – retroactive to July…