During the third quarter of fiscal 2024-2025, NAV Canada saw air traffic levels, measured in weighted fees(1)increase by 4.5 % on an annual basis. Its products for the third quarter of the financial year 2024-2025 totaled $ 466 million, compared to $ 433 million during the same period for the year 2023-2024.
During this quarter, Nav Canada’s financial return led to solid operating results, which reflect the increase in air traffic levels and the importance it attaches to financial responsibility. Nav Canada is proud to have obtained prestigious distinctions, such as achievement of level 2 of the Greenatm environmental accreditation of the Canso and the Global Safety Achievement Award of Canso, stressing its commitment to excellence, sustainability and security.
“The data on air traffic testifies to the resilience of industry and our operational force, despite recent opposite winds,” says Mark Cooper, president and chief executive officer of Nav Canada. By continuing to invest in our staff and technologies, we lay the foundations for long -term success. We are determined to continue on this momentum and to offer added value to our stakeholders. »»
Nav Canada closely follows external events, assesses its risks and is positioned to remain agile given the increased uncertainty worldwide.
The company has recorded an available cash flow(2) positive of $ 26 million in the third quarter of the year 2024-2025, against a cash flow available positive of $ 17 million for the same period for the year 2023-2024. The increase in the available cash flow is attributable to the increase in revenue from public subsidies and a drop in fixed asset investments, partially counterbalanced by a drop in cash flow for operating expenses compared to the third quarter of the year 2023-2024. The company finished the quarter with a collection of $ 675 million.
Operating expenses for the third quarter of the fiscal year 2024-2025 amounted to $ 443 million, compared to $ 418 million during the same period for the year 2023-2024, mainly due to the increase in remuneration costs due to an increase in salary levels and staff endowment.
The other expenses for the third quarter of the year 2024-2025 amounted to $ 42 million, compared to $ 19 million for the same period for the year 2023-2024, mainly due to the change in the fair value of the investment in Aieron and the repercussions of changes in the exchange rate of the Canadian dollar and the US dollar on this investment.
The company scored a net loss (before the observation of net movements in regulatory postponement accounts, including for the stabilization of prices) of $ 19 million during the third quarter of the fiscal 2024-2025, compared to a net loss of $ 5 million for the third quarter of the fiscal year 2023-2024.
The company is subject to legislation which regulates its way of establishing the royalties. The time of recovery of certain products and charges by means of fees is managed by the application of net movements in regulatory postponement accounts. A product of $ 19 million, compared to a burden of $ 27 million for the same period for the year 2023-2024, was registered as net movements noted in the regulatory postponement accounts for the third quarter of the fiscal year 2024-2025.
As of May 31, 2025, the rates stabilization account displayed a debtor balance of $ 168 million, a decrease of $ 18 million during the quarter. This shortfall is to be recovered with customers by means of future royalties.
