OTTAWA, ON, Aug. 21, 2025 /CNW/ – NAV CANADA today announced that Micheline Pion will join NAV CANADA on October 6, 2025 and will assume the position of Vice President and Chief Financial Officer, effective January 8, 2026. Ms. Pion will replace Donna Mathieu who will be retiring as Vice President and Chief Financial Officer on January 7, 2026.
Ms. Pion is a highly accomplished executive with over 20 years of progressive experience in finance, strategy, and business transformation. She has held several senior leadership positions across the energy and resources sectors, most recently serving as General Manager, Business Development at Rio Tinto Aluminium, where she supported the development and execution of a global growth strategy. Prior to this, she served as CFO of Evolugen – Brookfield Renewable, where she was responsible for financial oversight, leading strategic financial planning, capital markets, investor relations, regulatory compliance, and risk management.
“I am very pleased to welcome Micheline to NAV CANADA. This is a critical leadership role as we continue to strengthen our financial sustainability and deliver value to our stakeholders. Micheline’s deep expertise in financial strategy will be invaluable, particularly as we navigate the complexities of our strategic direction and maintain a strong, transparent approach to financial stewardship,” said Mark Cooper, President and CEO.
About NAV CANADA
NAV CANADA is a private, not-for-profit company, established in 1996, providing air traffic control, airport advisory services, weather briefings and aeronautical information services for more than 18 million square kilometres of Canadian domestic and international airspace.
The Company is internationally recognized for its safety record, and technology innovation.
OTTAWA, ON, July 21, 2025 /CNW/ – NAV CANADA announced today its traffic figure for the month of June 2025 as measured in weighted charging units for enroute, terminal and oceanic air navigation services, in comparison to the prior year.
In June 2025 weighted charging units were higher on average by 4.1 percent compared to the same month in 2024.
Weighted charging units represent a traffic measure that reflects the number of billable flights, aircraft size and distance flown in Canadian airspace and is the basis for movement-based service charges, which comprise the vast majority of the Company’s air traffic revenue.
About NAV CANADA
NAV CANADA is a private, not-for-profit company, established in 1996, providing air traffic control, airport advisory services, weather briefings and aeronautical information services for more than 18 million square kilometres of Canadian domestic and international airspace.
The Company is internationally recognized for its safety record, and technology innovation.
OTTAWA, ON, July 10, 2025 /CNW/ – NAV CANADA today released its financial results for the three and nine months ended May 31, 2025.
In the third quarter of fiscal 2025, the Company saw a further increase in air traffic levels, as measured in weighted charging units, of 4.5% on a year over year basis. The Company’s revenue for the third quarter of fiscal 2025 was $466 million, compared to $433 million over the same period in fiscal 2024.
During this quarter, NAV CANADA’s financial performance demonstrated strong operating results, reflecting increased air traffic levels and the Company’s commitment to fiscal responsibility. NAV CANADA is proud to have earned prestigious recognitions, including the CANSO level 2 GreenATM Environmental Accreditation and the CANSO Global Safety Achievement Award, underscoring our commitment to excellence, sustainability and safety.
“Traffic figures reflect the industry’s resilience and operational strength despite recent headwinds,” says Mark Cooper, NAV CANADA’s President and CEO. “By continuously investing in our people and technology, we are building a foundation for long-term success. We remain focused on maintaining this momentum and delivering value to all our stakeholders.”
The Company is closely monitoring external events, assessing our risks and positioning ourselves to remain agile amid heightened global uncertainty.
The Company had positive free cash flow of $26 million in the third quarter of fiscal 2025 as compared to positive free cash flow of $17 million in the same period in fiscal 2024. The increase in free cash flow is driven by higher receipts of government grants and lower capital investments, partially offset by lower operating cash inflows as compared to the third quarter of fiscal 2024. The Company ended the quarter with a cash balance of $675 million.
Operating expenses for the third quarter of fiscal 2025 were $443 million as compared to $418 million over the same period in fiscal 2024, primarily due to higher compensation costs driven by an increase in both wage and staffing levels.
Other expenses for the third quarter of fiscal 2025 were $42 million as compared to $19 million over the same period in fiscal 2024, primarily due to change in fair value of the investment in Aireon as well as the impact of changes in the Canadian and U.S. dollar exchange rate on this investment.
The Company had a net loss (before net movement in regulatory deferral accounts including rate stabilization) of $19 million in the third quarter of fiscal 2025 as compared to a net loss of $5 million for the third quarter of fiscal 2024.
The Company is subject to legislation that regulates its approach to setting charges. The timing of the recovery of certain revenue and expenses through customer service charges is managed through movements in regulatory deferral accounts. The net movement in regulatory deferral accounts for the third quarter of fiscal 2025 was an income of $19 million as compared to an expense of $27 million over the same period in fiscal 2024.
As of May 31, 2025, the rate stabilization account had a debit balance of $168 million, which reflects a decrease of $18 million during the quarter. This shortfall is to be recovered from customers through future customer service charges.
Associated Links
The Company’s Financial Statements and Management’s Discussion and Analysis for the three and nine months ended May 31, 2025 can be found at:
NAV CANADA is a private, not-for-profit company, established in 1996, providing air traffic control, airport advisory services, weather briefings and aeronautical information services for more than 18 million square kilometres of Canadian domestic and international airspace.
The Company is internationally recognized for its safety record and technology innovation.
More than 300,000 WestJet guests have been impacted by delays since April, as a result of NAV CANADA staffing shortages
These air traffic control staffing challenges frequently become the primary reason for delays throughout the WestJet network. These impacts are then propagated throughout the WestJet network, and are being felt by guests across the country, even if they do not fly through Vancouver or British Columbia. Given the essential nature of air travel for Canadians, this level of disruption is unacceptable.
WestJet understands that long-term solutions are in development and NAV CANADA management is doing all in their power to improve this challenging situation; however, the current situation presents serious operational challenges, as the industry heads into peak summer travel, with no short-term solutions in sight.
Commitment to guests and calls for accountability
WestJet is working to minimize the NAV CANADA impacts on guests and will continue to advocate for solutions that improve system-wide performance. Canadians deserve consistent accountability and service standards across the entire aviation eco-system.
WestJet is calling on the federal government to work with all stakeholders to find an immediate solution to support the structural challenges that NAV CANADA is facing.
Aviation is a critical mode of transportation in Canada and a key driver of economic growth. It is important for the public to understand that, under the Air Passenger Protection Regulations (APPR), these delays are categorized “outside of airlines’ control” and therefore aren’t eligible for compensation to affected passengers. These delays lead to significant inconveniences for guests and considerable costs to airlines as their operations need to recover and interrupted guests need to be reaccommodated.
WestJet remains committed to working with regulators, industry partners and government to ensure Canadians receive the high-quality air travel experience they deserve across our network. Learn more about WestJet’s vision for a modern, more affordable air travel system in Canada.
OTTAWA, ON, June 24, 2025 /CNW/ – NAV CANADA announced today its traffic figure for the month of May 2025 as measured in weighted charging units for enroute, terminal and oceanic air navigation services, in comparison to the prior year.
In May 2025 weighted charging units were higher on average by 2.7 percent compared to the same month in 2024.
Weighted charging units represent a traffic measure that reflects the number of billable flights, aircraft size and distance flown in Canadian airspace and is the basis for movement-based service charges, which comprise the vast majority of the Company’s air traffic revenue.
About NAV CANADA
NAV CANADA is a private, not-for-profit company, established in 1996, providing air traffic control, airport advisory services, weather briefings and aeronautical information services for more than 18 million square kilometres of Canadian domestic and international airspace.
The Company is internationally recognized for its safety record, and technology innovation.
OTTAWA, ON, May 28, 2025 /CNW/ – NAV CANADA announced today its traffic figure for the month of April 2025 as measured in weighted charging units for enroute, terminal and oceanic air navigation services, in comparison to the prior year.
In April 2025 weighted charging units were higher on average by 5.5 percent compared to the same month in 2024.
Weighted charging units represent a traffic measure that reflects the number of billable flights, aircraft size and distance flown in Canadian airspace and is the basis for movement-based service charges, which comprise the vast majority of the Company’s air traffic revenue.
About NAV CANADA
NAV CANADA is a private, not-for-profit company, established in 1996, providing air traffic control, airport advisory services, weather briefings and aeronautical information services for more than 18 million square kilometres of Canadian domestic and international airspace.
The Company is internationally recognized for its safety record, and technology innovation.
OTTAWA, ON, April 22, 2025 /CNW/ – NAV CANADA announced today its traffic figure for the month of March 2025 as measured in weighted charging units for enroute, terminal and oceanic air navigation services, in comparison to the prior year.
In March 2025 weighted charging units were higher on average by 5.5 percent compared to the same month in 2024.
Weighted charging units represent a traffic measure that reflects the number of billable flights, aircraft size and distance flown in Canadian airspace and is the basis for movement-based service charges, which comprise the vast majority of the Company’s air traffic revenue.
About NAV CANADA
NAV CANADA is a private, not-for-profit company, established in 1996, providing air traffic control, airport advisory services, weather briefings and aeronautical information services for more than 18 million square kilometres of Canadian domestic and international airspace.
The Company is internationally recognized for its safety record, and technology innovation.
OTTAWA, ON, April 11, 2025 /CNW/ – NAV CANADA today announced the retirement of Donna Mathieu, Vice President and Chief Financial Officer, effective October 31st, 2025.
Donna Mathieu has held the position since January 2022 after progressively senior roles since joining NAV CANADA in 2003. She served NAV CANADA for more than 21 years, having provided executive leadership and direction to NAV CANADA’s Finance Department, overseeing all aspects of the finance function, including the pension plan, issuance of public debt in support of the Company’s capital and operating programs. Her thoughtful leadership, financial acumen, and commitment to excellence have made a lasting impact on the organization.
“NAV CANADA has benefited enormously from Donna’s strategic insight and dedication,” said Mark Cooper, President and CEO. “She has helped guide the company through major financial milestones and has been a trusted advisor and leader throughout her career here. We thank her for her outstanding contributions and wish her all the best in retirement.”
NAV CANADA will soon initiate a process to identify a successor, with a focus on ensuring a seamless transition in the months ahead.
About NAV CANADA
NAV CANADA is a private, not-for-profit company, established in 1996, providing air traffic control, airport advisory services, weather briefings and aeronautical information services for more than 18 million square kilometres of Canadian domestic and international airspace.
The Company is internationally recognized for its safety record, and technology innovation.
OTTAWA, ON, April 10, 2025 /CNW/ – NAV CANADA today released its financial results for the three and six months ended February 28, 2025.
In the second quarter of fiscal 2025, the Company saw air traffic levels, as measured in weighted charging units, increase by 1.3% on a year over year basis. Excluding the effect of an extra day for the leap year in fiscal 2024, air traffic levels were 2.5% higher. The Company’s revenue for the second quarter of fiscal 2025 was $396 million, compared to $393 million over the same period in fiscal 2024.
“In response to the aviation industry’s dynamic landscape and ongoing modernization initiatives, we remain committed to proactive cost management while moving forward with strategic investments that will improve our long-term financial resilience,” says Mark Cooper, NAV CANADA, President and CEO. “In the current global economic context, it is more important than ever for us to optimize our operations to deliver exceptional service to our customers and position ourselves to most effectively meet the evolving needs of the industry.”
The Company had negative free cash flow of $69 million in the second quarter of fiscal 2025 as compared to negative free cash flow of $28 million in the same period in fiscal 2024. The decrease in free cash flow is driven by higher capital investments and higher operating cash outflows as compared to the second quarter of fiscal 2024. The Company ended the quarter with a cash balance of $664 million.
Operating expenses for the second quarter of fiscal 2025 were $423 million as compared to $435 million over the same period in fiscal 2024, primarily due to the asset impairment in fiscal 2024 partially offset by higher compensation costs driven by an increase in both wage and staffing levels.
Other expenses for the second quarter of fiscal 2025 were $8 million as compared to $24 million over the same period in fiscal 2024, primarily due to the impact of changes in the Canadian and U.S. dollar exchange rate on the investment in Aireon as well as the impact of the asset impairment in fiscal 2024.
The Company had a net loss (before net movement in regulatory deferral accounts including rate stabilization) of $35 million in the second quarter of fiscal 2025 as compared to a net loss of $66 million for the second quarter of fiscal 2024.
The Company is subject to legislation that regulates its approach to setting charges. The timing of the recovery of certain revenue and expenses through customer service charges is managed through movements in regulatory deferral accounts. The net movement in regulatory deferral accounts for the second quarter of fiscal 2025 was an expense of $35 million as compared to an expense of $30 million over the same period in fiscal 2024.
As at February 28, 2025, the rate stabilization account had a debit balance of $186 million, which reflects an increase of $34 million during the quarter. This shortfall is to be recovered from customers through future customer service charges.
Associated Links
The Company’s Financial Statements and Management’s Discussion and Analysis for the three and six months ended February 28, 2025 can be found at:
NAV CANADA is a private, not-for-profit company, established in 1996, providing air traffic control, airport advisory services, weather briefings and aeronautical information services for more than 18 million square kilometres of Canadian domestic and international airspace.
The Company is internationally recognized for its safety record and technology innovation.
OTTAWA, ON, April 8, 2025 /CNW/ – NAV CANADA announced today its traffic figure for the month of February 2025 as measured in weighted charging units for enroute, terminal and oceanic air navigation services, in comparison to the prior year.
In February 2025 weighted charging units were lower on average by 3.6 percent compared to the same month in 2024. Due to 2024 being a leap year, February 2024 had an additional day compared to February 2025. If adjusting to remove the contribution of the 2024 leap day, February 2025 weighted charging units were 0.1 percent lower than the same month in the previous year.
Weighted charging units represent a traffic measure that reflects the number of billable flights, aircraft size and distance flown in Canadian airspace and is the basis for movement-based service charges, which comprise the vast majority of the Company’s air traffic revenue.
About NAV CANADA
NAV CANADA is a private, not-for-profit company, established in 1996, providing air traffic control, airport advisory services, weather briefings and aeronautical information services for more than 18 million square kilometres of Canadian domestic and international airspace.
The Company is internationally recognized for its safety record, and technology innovation.
