The Globe and Mail reports in its Tuesday, Feb. 27, edition that Cargojet posted a loss in the last quarter due to falling consumer demand and rising inflation, leading to a reduction in growth plans. A Canadian Press dispatch to The Globe reports that Cargojet posted a net loss of $34.9-million in its fourth quarter compared with a profit of $2.6-million in the last three months of 2022, marking its first quarterly loss in nearly two years. Co-chief executive officer Pauline Dhillon said Monday, "To say that 2023 was a challenging year for Cargojet would probably be an understatement." She cited higher interest rates, "uncontrolled inflation," a sputtering economy and a consumer pullback from the splurge on doorstep deliveries during the pandemic as key reasons behind the company's struggles. The COVID-19-induced spending wave doubled Cargojet's revenue between 2019 and 2022 and turbocharged its share price to a high that topped $242 in November, 2020. However, that same surge in demand soon posed challenges for Cargojet, as "every passenger airline in Canada announced their entry into the dedicated air cargo business," Ms. Dhillon said. Cargojet's stock now trades at less than half its 2020 high.