NAV CANADA announces first quarter financial results​




Calgary - 01/19/2017


NAV CANADA today released its financial results for the three months ended November 30, 2016



NAV CANADA today released its financial results for the three months ended November 30, 2016. The results reflect growth in air traffic volumes as measured by weighted charging units of 5.5 per cent over the same period in the prior fiscal year and demonstrate the Company’s continued success in controlling costs and making strategic investments in its core services while maintaining safe and efficient air navigation.

The Company’s fiscal year runs from September 1 to August 31. In the first quarter of fiscal 2017, the Company had cash of $224 million, a positive free cash flow(1) of $24 million and demonstrated a strong financial performance as evidenced by its rate stabilization account, which finished the quarter with a positive(2) balance of $176 million. When adjusted for rate setting purposes, the rate stabilization account has a positive(2) “notional” balance of $179 million which is above its target balance of $101 million.

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