Hey there. Wasn't the best quarter from them, however the bulk of my thesis is still in tact. Domestic revenue in Canada is continuing to accelerate and what is putting a lot of pressure on the company right now is their ACMI segment is struggling because companies are just not willing to commit to signing new leases on aircraft and crew during an environment like this. Effectively, the United States is causing a whole ton of turmoil for Cargojet.
We need trade uncertainties to go away so that Cargojet can lock in clients who can now kind of plan appropriately for the future.
This is kind of the difficulty with buying cyclicals, and that is timing the bottom of the cycle. Case in point, if we thought we were getting a good price on DOO.TO back in March at $55, we were very quickly down 25% in less than a month.
However, fast forward to now, and we're up 57%.
I do not expect tensions to remain escalated indefinitely. I will continue to add to my shares.