Kelowna Flightcraft has been dealt a significant blow.
The Kelowna company confirmed Wednesday it has been unsuccessful in retaining the contract with Purolator Courier for the carriage of Purolator's cargo product and Canada Post mail.
Company president Tracy Medve, says Flightcraft has held the contract with Purolator since 1977 and more recently, Canada Post.
“While their decision is disappointing, particularly in light of the 99% reliability we currently provide, it is by no means the end of Kelowna Flightcraft," says Medve.
"Our diverse and financially strong company has been around for nearly forty-four years. We have many great customers and contracts, and we have considerable opportunity for the future.”
The current contract doesn't run out until March 31, 2015, giving the company plenty of time to replace the lost revenues.
Flightcraft executive assistant, Paula Quinn, says no layoffs are contemplated at this time, noting the company has more than 15 months to explore new revenue opportunities.
When one door closes, another opens, says Quinn.