OTTAWA, ON, April 23, 2024 /CNW/ – NAV CANADA announced today its traffic figure for the month of March 2024 as measured in weighted charging units for enroute, terminal and oceanic air navigation services, in comparison to the prior year.
In March 2024 weighted charging units were higher on average by 4.1 percent compared to the same month in 2023.
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.
CAE to deliver initial training for air traffic controllers and flight service specialists at the new Air Traffic Services Training Centre in Montreal.
Partnership increases training capacity at NAV CANADA across the country and is expected to support the training for over 500 additional students by 2028.
MONTREAL, April 16, 2024 /CNW/ – (NYSE: CAE) (TSX: CAE) – NAV CANADA and CAE today announced that they have signed a strategic agreement to increase training capacity for crucial air traffic services professionals. Under this first-of-its-kind partnership in Canada, CAE instructors will deliver initial training for Flight Service Specialists and Air Traffic Controllers using NAV CANADA’s training curriculum and courseware. The first classes will begin in the fall of 2024 at a new purpose-built Air Traffic Services Training Centre on CAE’s campus in Montreal.
This agreement leverages the expertise of two Canadian industry leaders to innovate and address future air traffic management requirements. As the world’s largest aviation training provider, CAE is uniquely positioned to work hand in hand with NAV CANADA, the second-largest Air Navigation Service Provider (ANSP) worldwide, to develop a highly proficient workforce and ensure the safety and efficiency of the air traffic system. The partnership will provide additional training capacity as NAV CANADA continues to fully deliver existing training programs from its training units across the country.
“With this partnership, and through the overall modernization of our training programs, NAV CANADA will deliver long-term benefits to Canada by preparing for continued growth in demand for air travel, building resilience to respond to emerging customer needs and supporting the fluidity of the country’s supply chains while accelerating access to high-paying jobs that support the Canadian economy,” said Raymond G. Bohn, President and CEO, NAV Canada.
“With CAE’s extensive background in advanced training delivery and modern learning sciences, our partnership with NAV CANADA is a natural extension of our business and core mission to make the world a safer place,” said Marc Parent, CAE’s President and CEO. “Moreover, as the leading provider of civil aviation training worldwide, CAE understands the importance of effective workforce development and the challenges posed by the increased demand for highly skilled people throughout the aviation sector.”
This partnership will generate new career opportunities at both companies. NAV CANADA is building a pipeline of air traffic services professionals by recruiting over 500 additional students by 2028 who will be trained by CAE. CAE is recruiting training centre staff to deliver training in line with Transport Canada’s requirements and CAE’s rigorous standards of training excellence.
As NAV CANADA turns to CAE to supplement its training needs, its current Flight Information Regions (FIR) school delivery is ongoing with full force and continues to offer all specialties and on-the-job training. All students who will qualify at CAE will be meeting the same curriculum, level of standards, and threshold testing as students trained at 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 kilometers of Canadian domestic and international airspace. The Company is internationally recognized for its safety record and technology innovation.
About CAE
At CAE, we equip people in critical roles with the expertise and solutions to create a safer world. As a technology company, we digitalize the physical world, deploying software-based simulation training and critical operations support solutions. Above all else, we empower pilots, cabin crew, airlines, and defence and security forces to perform at their best every day and when the stakes are the highest. Around the globe, we’re everywhere customers need us to be with more than 13,000 employees in approximately 250 sites and training locations in over 40 countries. CAE represents more than 75 years of industry firsts—the highest-fidelity flight and mission simulators as well as training programs powered by digital technologies. We embed sustainability in everything we do. Today and tomorrow, we’ll make sure our customers are ready for the moments that matter.
OTTAWA, ON, April 11, 2024 /CNW/ – NAV CANADA today released its financial results for the three and six months ended February 29, 2024.
In the second quarter of fiscal 2024, the Company saw air traffic levels, as measured in weighted charging units, increase 8.3% on a year over year basis. Excluding the effect of an extra day for the leap year, air traffic levels were 7.1% higher. The Company’s revenue for the second quarter of fiscal 2024 was $393 million, compared to $388 million over the same period in fiscal 2023.
The Company had negative free cash flow of $28 million in the second quarter of fiscal 2024 as compared to positive free cash flow of $34 million in the same period in fiscal 2023. The decrease in free cash flow is driven by higher cash outflows for operating expenditures, primarily due to higher compensation costs, as compared to the second quarter of fiscal 2023. The Company ended the quarter with a cash balance of $570 million.
“The second quarter demonstrated a number of positives – including greater operational resilience, preparedness and performance within the ecosystem. At the same time, the sector remains sensitive to fluctuations in passenger demand, supply chain, economic uncertainty and potential government policy changes,” said Raymond G. Bohn, President and CEO, NAV CANADA. “Maintaining our focus on the future while being financially responsible today is part of our plan to support our customers and be a positive force operationally, environmentally and socially within the global community. On that front, we have reached an important milestone towards Trajectory-Based Operations (TBO) by signing an agreement with Indra to deploy their modern Air Traffic Management systems, becoming the first non-European Air Navigation Service Provider to join the iTEC SkyNex Alliance. This partnership will be a major boost to NAV CANADA’s future roadmap and its commitment to maintaining a safe, efficient and modern air navigation system.”
Operating expenses for the second quarter of fiscal 2024 were $435 million as compared to $371 million over the same period in fiscal 2023, primarily due to an asset impairment and higher compensation costs as a result of both higher wage and staffing levels.
Net other income and expenses for the second quarter of fiscal 2024 were a net expense of $24 million as compared to $20 million over the same period in fiscal 2023, as a result of an asset impairment offset by higher interest income.
The Company had net loss (before net movement in regulatory deferral accounts including rate stabilization) of $66 million in the second quarter of fiscal 2024 as compared to $3 million for the second quarter of fiscal 2023.
The Company is subject to legislation that regulates its approach to setting charges. The timing of the recognition of certain revenue and expenses recovered through charges is recorded through movements in regulatory deferral accounts. The net movement in regulatory deferral accounts for the second quarter of fiscal 2024 was an income of $30 million as compared to an expense of $33 million over the same period in fiscal 2023. This change in regulatory deferrals is primarily due to a decrease in favourable rate stabilization adjustments of $8 million and a $55 million net increase in adjustments required to align the accounting recognition of certain transactions to the periods in which they will be considered for rate setting. As at February 29, 2024, the rate stabilization account had a balance of $259 million 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 29, 2024 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.
GENEVA, March 20, 2024 /CNW/ – NAV CANADA is joining the iTEC Alliance and gives further momentum to an initiative that brings together some of the world’s leading air navigation service providers. With this important partnership, iTEC has reached beyond the European borders for the first time and continues its cooperative venture to create a more efficient and environment-friendly generation of air traffic management systems.
The signing took place today at the Airspace World event in Geneva which has brought together some of the main players in air traffic management ecosystem. Mark Cooper, Vice-President and Chief Technology and Information Officer on behalf of NAV CANADA, and the main representatives of the iTEC Alliance, Dirk Mahns, DFS COO and Chairman of iTEC Board; Kuldeep Gharatya, NATS Technical Services Director; Laura Garcés, ENAIRE Deputy Director ANS; Jan-Gunnar Pedersen, Avinor CEO; Magdalena Jaworska-Maćkowiak, PANSA President; Marlou Banning, LVNL CFO; Saulius Batavičius, Oro Navigacija CEO; and Javier Ruano, Indra’s ATM General Director, signed the agreement.
With this settlement, cooperation between Europe and North America will be reinforced, and global air traffic will reach new levels of efficiency thanks to a more collaborative management. This partnership also brings the possibility of operating transoceanic flights using the same technology from start to finish, thereby facilitating smoother traffic management across both sides of the world’s busiest oceanic areas.
The joining of NAV CANADA, who plays a unique and critical role in managing the second-largest airspace in the world, constitutes a significant advancement for the Alliance—expanding its partnered airspace from 8 million to over 26 million square kilometres and supporting more than 12 million flights from 27 control centres each year. Aircraft will be able to cross almost half of the globe with iTEC SkyNex as the system managing their flights.
iTEC SkyNex will facilitate the introduction of Trajectory-Based Operations (TBO) into Canada, steer air traffic management towards a strategic approach and provide a more comprehensive view of the flight from take-off to landing. This new technology can accurately calculate trajectories and manage the progress of flights over a broader horizon, allowing for improved planning and greater efficiency. The system will increase efficiency, provide greater data accuracy, optimize flight paths and resources, reduce delays and CO2 emissions, and cut down costs significantly.
With the incorporation of NAV CANADA, the alliance will also acquire a partner that will contribute to evolving the iTEC SkyNex system and speeding up the introduction of new technologies, concepts and ever more sophisticated functions, sharing costs and know-how.
“We are delighted to be the first non-European ANSP to join the iTEC Alliance. Founded on the spirit of collaboration, NAV CANADA is proud to now be part of this partnership. A better future is ahead of us with iTEC SkyNex; we are now in a position to achieve goals that were previously unimaginable and build towards more sustainable skies,” said Raymond G. Bohn, President and CEO, NAV CANADA.
Dirk Mahns, DFS COO and Chairman of iTEC Board, stated that “NAV CANADA’s entry into the alliance constitutes a significant milestone and highlights the fact that we have a highly advanced technology and a spirit of collaboration that are delivering tangible results and encouraging interoperability between air navigation service providers, a key aspect to transforming aviation and managing flights more intelligently and efficiently.”
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.
About iTEC
ITEC is an alliance formed by eight air navigation service providers: DFS (Germany), Enaire (Spain), NATS (United Kingdom), LVNL (Netherlands), PANSA (Poland), Avinor (Norway), Oro Navigacija (Lithuania), and NAV CANADA (Canada), with Indra as the technological provider. Together, they have developed and are deploying the next-generation air traffic management system, iTEC SkyNex, which enables more collaborative and efficient flight control.
OTTAWA, ON, Feb. 15, 2024 /CNW/ – NAV CANADA announced today its traffic figure for the month of January 2024 as measured in weighted charging units for enroute, terminal and oceanic air navigation services, in comparison to the prior year.
In January 2024 weighted charging units were higher on average by 6.8 percent compared to the same month in 2023.
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.
MADRID, Feb. 7, 2024 /CNW/ – NAV CANADA and Indra announced today that they have reached a milestone agreement that will contribute to the evolution of Canada’s air traffic management systems.
The first phase of the agreement will support the deployment of a state-of-the-art flight data processing system (FDPS) and an air traffic flow management system (iACM) for complex airspaces within NAV CANADA’s network centre.
In line with NAV CANADA’s strategic direction, this partnership represents a tangible step towards Trajectory-Based Operations (TBO) in Canada, shifting air traffic management towards a strategic approach that takes a more comprehensive picture of a flight from take-off to landing. This new technology can calculate routes with great accuracy and predict the evolution of air traffic over an extended horizon, supporting greater planning and coordination.
These systems will integrate information processing from Canada’s area control centres, automatically notifying the system of any changes in flight plans between each of their respective airspace. This will enable better flexibility resulting in the improvement of traffic flow within Canadian airspace and across the rest of the network. The result will be more efficient routings for aircraft operators, reduced fuel consumption and associated greenhouse gas emissions while providing greater operational resiliency to disruptions and meeting the capacity requirements of a growing sector.
These advancements, which continue to keep safety at the forefront, reflect the vision for the future of air traffic management defined by the International Civil Aviation Organization (ICAO)’s Aviation System Block Upgrades (ASBU), which promote technologies that enable greater collaboration and operational predictability in global aviation.
This agreement also reinforces the collaboration between NAV CANADA, UK’s NATS and Norway’s Avinor, which also have Indra as a strategic technology partner. Both companies welcomed this important agreement.
The technology will be deployed over a ten-year horizon across NAV CANADA’s facilities.
“We are proud to announce that we have reached an agreement with Indra to deploy the next generation of air traffic management systems in Canada,” said Raymond G. Bohn, President and CEO, NAV CANADA. “Once completed, it will represent a generational leap forward in the tools we provide our dedicated employees – one that builds on our strong track record of deploying leading platforms, creates an opportunity to play a leadership role in global air navigation and will contribute to a more sustainable and efficient future for air transportation in Canada. Security, innovation, expertise and collaboration are the fundamental pillars of NAV CANADA’s business strategy.”
Indra’s president Marc Murtra stated that “Indra’s technology will not only increase efficiency in air traffic management in Canada but will also enhance predictability and contribute to the reduction of environmental impact. What we sign today transcends a simple agreement between companies; it represents a renewed commitment between nations. This collaboration is a step forward in sharing knowledge and technology, fostering new streams of relationships, and advancing towards a more efficient and sustainable aviation.”
About Indra
Indra (www.indracompany.com) is one of the leading global technology and consulting companies and the technological partner for core business operations of its clients worldwide. It is a world leader in providing proprietary solutions in specific segments of the transport and defence markets and a leading firm in digital transformation and Information Technologies in Spain and Latin America through its affiliate Minsait. Its business model is based on a comprehensive range of proprietary products, with a high-value, end-to-end focus and with a high innovation component. In the 2022 fiscal year, Indra achieved revenue totaling €3.851 billion, with almost 57,000 employees, a local presence in 46 countries and business operations in over 140 countries.
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, Jan. 15, 2024 /CNW/ – NAV CANADA announced today its traffic figure for the month of December 2023 as measured in weighted charging units for enroute, terminal and oceanic air navigation services, in comparison to the prior year.
In December 2023 weighted charging units were higher on average by 8.3 percent compared to the same month in 2022.
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, Jan. 10, 2024 /CNW/ – NAV CANADA today released its financial results for the three months ended November 30, 2023.
In the first quarter of fiscal 2024, the Company saw air traffic levels, as measured in weighted charging units, increase 7.4% on a year over year basis. The Company’s revenue for the first quarter of fiscal 2024 was $464 million, compared to $435 million over the same period in fiscal 2023.
The Company had positive free cash flow of $98 million in the first quarter of fiscal 2024 as compared to $127 million in the same period in fiscal 2023. The decrease in positive free cash flow is driven by higher cash outflows for operating expenditures, primarily due to higher compensation costs, along with higher capital expenditures as compared to the first quarter of fiscal 2023. The Company ended the quarter with a cash balance of $685 million.
“Thanks to the efforts of our employees, NAV CANADA is progressing towards its strategic goals in areas of technology, corporate social responsibility, and culture, while continuing to prioritize safety. In the past few months, we reached several milestones including formally committing to Science-Based Target initiatives (SBTi) and winning a CANSO Global Safety Achievement Award,” said Raymond G. Bohn, President and CEO. “In addition, NAV CANADA’s balanced approach to fiscal management is supporting industry through a recently announced adjustment to our service charges, while continuing to rebuild our financial resilience.”
Operating expenses for the first quarter of fiscal 2024 were $381 million as compared to $348 million over the same period in fiscal 2023, primarily due to higher compensation costs as a result of both higher wages and increased staffing levels.
Net other income and expenses for the first quarter of fiscal 2024 were a net expense of $17 million as compared to $26 million over the same period in fiscal 2023, as a result of lower interest expense and higher interest income.
The Company had net income (before net movement in regulatory deferral accounts including rate stabilization) of $66 million in the first quarter of fiscal 2024 as compared to $61 million for the first quarter of fiscal 2023.
The Company is subject to legislation that regulates its approach to setting charges. The timing of the recognition of certain revenue and expenses recovered through charges is recorded through movements in regulatory deferral accounts. The net movement in regulatory deferral accounts for the first quarter of fiscal 2024 was an expense of $45 million as compared to an expense of $71 million over the same period in fiscal 2023. This change in regulatory deferrals is primarily due to a decrease in favourable rate stabilization adjustments of $21 million and a $5 million net increase in adjustments required to align the accounting recognition of certain transactions to the periods in which they will be considered for rate setting. As at November 30, 2023, the rate stabilization account had a balance of $285 million 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 months ended November 30, 2023 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, Dec. 22, 2023 /CNW/ – NAV CANADA has become the first Air Navigation Service Provider worldwide to sign an agreement with Santa Claus to provide priority status on the night of December 24th to 25th for safe, orderly and expeditious gift delivery.
NAV CANADA commits to provide top-notch, up-to-date technologies, advanced communication systems and modern carrot-efficient approaches to facilitate this high-speed flight serving millions of destinations.
Based on this agreement, Santa Claus has implemented an ADS-B antenna to his sleigh and now complies with the Canadian ADS-B mandate which will ensure safe deliveries, especially from the North Pole. Rudolph, when reached for comment, said, “We’re all aware that my nose guides the sleigh, but it’s nice to know the folks at NAV CANADA support our operation with this great technology. I oversaw installation of the two-way antenna myself – and if anyone’s an expert on navigation, it’s me.”
“We are glad to reach this historic agreement with Santa Claus. Our main priority is always safety, and we use every tool at hand across Canada’s seven Flight Information Regions to keep Santa’s precious cargo safe, from coast to coast to coast,” said Raymond G. Bohn, President and CEO, NAV CANADA. “Canadian children who have been very good deserve to receive their gifts in a timely fashion.”
This is the first time in history that NAV CANADA and Santa Claus have reached a formal agreement.
NAV CANADA wishes Santa, Rudolph and the whole team a safe and joyful night.
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, Dec. 20, 2023 /CNW/ – NAV CANADA announced today its traffic figure for the month of November 2023 as measured in weighted charging units for enroute, terminal and oceanic air navigation services, in comparison to the prior year.
In November 2023 weighted charging units were higher on average by 6.0 percent compared to the same month in 2022.
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.
