The Financial Post reports in its Tuesday edition that last month, Cargojet said it would scale down its fleet expansion by scrapping the purchase of four Boeing 777 airliners. A Canadian Press dispatch to the Post reports that the move came after Cargojet nixed the other four 777s in its initial eight-plane order announced in March, 2022. RBC Capital Markets analyst Walter Spracklin said in a note to investors: "The move that now centres almost entirely on 767s will see the benefit of a singular fleet that can be more effectively operated at lower cost. We now view Cargojet as much more of a pure-play domestic overnight business and see the (plane leasing) business as filling in the gaps for aircraft utilization." The change in plans came alongside a change in leadership. On Jan. 1, Cargojet went through with a C-suite shuffle announced in November, as then-chief executive officer Ajay Virmani became executive chairman and yielded his top spot to chief corporate officer Pauline Dhillon and chief strategy officer Jamie Porteous -- now co-chief executive officers. In the quarter ended Dec. 31, Cargojet reported that revenue fell 6 per cent to $254.7-million from $271-million in the same period a year earlier.