NAV CANADA reports October traffic figures

OTTAWA, ON, Nov. 12, 2021 /CNW/ – NAV CANADA announced today its traffic figures for the month of October 2021, as measured in weighted charging units for enroute, terminal and oceanic air navigation services, in comparison to the last fiscal year and to its 2019 fiscal year. 

In October 2021 weighted charging units increased by an average of 69.9 percent compared to the same month in 2020. As compared to the same month in 2019, October 2021 weighted charging units decreased by an average of 30.7 percent.

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. Air traffic management systems developed by NAV CANADA are used by air navigation service providers in countries worldwide.

NAV CANADA launching public consultations on airspace enhancements for arrivals at Toronto Pearson

TORONTO, Nov. 3, 2021 /CNW/ – NAV CANADA, in collaboration with the Greater Toronto Airports Authority (GTAA), has launched a public consultation as the next step in a proposal to introduce airspace enhancements around Toronto Pearson, which are anticipated to have a significantly positive impact on noise and greenhouse gases emissions (GHGs).

The proposed changes will introduce a modern arrival procedure known as Required Navigation Performance Authorization Required (RNP AR) for two runway ends at Toronto Pearson, Canada’s busiest airport. This will be supported by a new International Civil Aviation Organization standard known as Established on RNP-AR (EoR). 

RNP AR provides the opportunity to design shorter, more direct routes, enabling aircraft to turn towards the airport sooner, while the new standard supports safe and efficient integration of traffic in a busy parallel runway environment. If implemented, this will be the largest deployment of the EoR standard at a major international airport to date.

This proposal will support the industry’s sustainability efforts— with regard to both noise and emissions—by significantly reducing GHGs and the overflight of residential areas. It is estimated that the deployment of RNP-AR will result in GHG avoidance of 178,000,000 kilograms over 10 years. That’s equivalent to taking approximately 44,000 cars off the road permanently.

“The aviation industry continues to examine ways to reduce its environmental footprint, from sustainable fuels and alternative energy sources, to improvements in aircraft technology and ground equipment, and modern, more efficient flight procedures,” said Raymond Bohn, President and CEO, NAV CANADA. “The reductions in GHGs and noise impacts, coupled with fuel costs savings for our airline customers, are notable and supportive of an environmentally responsible recovery from COVID-19.”

“Our sector’s successful recovery post-pandemic depends on continuing to find innovative ways to operate in an efficient and environmentally sustainable way,” said Deborah Flint, President and CEO, GTAA. “It is incumbent on us to build back better, not only for the entire travel and tourism ecosystem, but also for future generations of travellers, employees and our neighbouring communities.”

NAV CANADA and the GTAA have a notable history of pursuing noise mitigation efforts in collaboration with the communities around the airport and remain committed to working with neighbours to ensure that noise management remains a part of the conversation as the aviation industry recovers.

Residents are invited to visit www.navcanada.ca/YZRNP to learn more about the RNP-AR proposal, register for upcoming online public briefings, or provide feedback. 

Public consultation will run until December 17, 2021.

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. Air traffic management systems developed by NAV CANADA are used by air navigation service providers in countries worldwide.

About the Greater Toronto Airports Authority
The Greater Toronto Airports Authority is the operator of Toronto – Lester B. Pearson International Airport, Canada’s largest airport and a vital connector of people, businesses and goods. Toronto Pearson has been named “Best Large Airport in North America serving more than 40 million passengers” for four years in a row by Airports Council International (ACI), the global trade representative of the world’s airports. In recognition of its Healthy Airport program, ACI also awarded Toronto Pearson the “Best hygiene measures in North America” award, and Toronto Pearson was the first Canadian airport to receive ACI’s global health accreditation for its response to COVID-19.

New exhibition explores Canada’s history of keeping its busy skies safe

OTTAWA, ON, Nov. 1, 2021 /CNW/ – Visitors to the Canada Aviation and Space Museum can now discover if they have what it takes to manage air traffic in our skies in a new exhibit Eyes on the Skies: Managing Air Traffic in Canada. Developed in collaboration with NAV CANADA, the exhibit delves into the rapid evolution of air traffic management, exploring the systems, people, and technologies that keep Canada’s skies safe.

Through a variety of highly interactive experiences that test visitors’ skills, and a mix of historical and contemporary content, Eyes on the Skies will expose visitors to Canada’s air navigation system and how air traffic is managed safely and efficiently – a critical role of the aviation industry.

Eyes on the Skies demystifies complex ideas – from the impacts of gender and language to how radar works. It highlights people central to managing air traffic in Canada and explores how navigation systems, procedures and technologies have evolved over the decades. Drawing links to their own experiences as passengers, visitors will learn through play, strong visual and audiovisual experiences.

In addition, an Eyes on the Skies travelling exhibit has hit the road to visit museums from coast to coast to coast to allow Canadians across the country to discover the important contributions we have made – and continue to make – to managing air traffic.

Media are invited to tour the Eyes in the Skies exhibition at the Canada Aviation and Space Museum on Monday, November 1, 2021 between 12 pm and 3 pm. Canada Aviation and Space Museum curator Erin Gregory is available to answer media questions on site. Please RSVP to confirm your attendance to Philippe Tremblay at ptremblay@IngeniumCanada.org.

Quotes

“Eyes on the Skies highlights this complex aspect of aviation with engaging and fun interactives. It’s a snapshot into the vital contributions that Canadians have made to air navigation, including managing Canada’s 18 million square kilometres of airspace to ensure the safety of our skies.”
– Chris Kitzan, Director General of Canada Aviation and Space Museum

“While honouring the men and women who make Canada’s air navigation service among the safest in the world, Eyes on the Skies offers a window into a part of the aviation industry not seen by most Canadians. Our industry is evolving rapidly, and we hope this new exhibit inspires some to consider new career paths to help shape Canada’s future aviation story.”
-Raymond Bohn, President and CEO of NAV CANADA

About the Canada Aviation and Space Museum
One of three museums under Ingenium – Canada’s Museums of Science and Innovation, the Canada Aviation and Space Museum is aptly located at Ottawa’s historic Rockcliffe Airport, which previously functioned as a former military air base. The museum takes visitors on a journey through Canada’s aviation and space history — from the early days of flight to the future of space exploration. Spanning 1909 to the present day, the museum focuses on aviation in Canada within an international context. As Canada’s contribution to aviation expanded to include aerospace technology, the museum’s collection and mandate grew to include space flight. The collection itself consists of more than 130 aircraft and artifacts (propellers, engines) from both civil and military service. The most extensive aviation collection in Canada, it is also considered one of the finest aviation museums in the world.

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. Air traffic management systems developed by NAV CANADA are used by air navigation service providers in countries worldwide. 

NAV CANADA announces year-end financial results

OTTAWA, ON, Oct. 21, 2021 /CNW/ – NAV CANADA today released its financial results for the year ended August 31, 2021.

While air traffic levels began to increase in the last quarter of fiscal 2021, on a year-over-year basis, the Company’s air traffic levels for fiscal 2021, as measured in weighted charging units(1), decreased by 32.7% versus fiscal 2020 and 55.7% as compared to pre-pandemic levels in fiscal 2019.

As a result of the lower air traffic levels, the Company’s revenue for fiscal 2021 was $870 million, compared to $1,000 million in fiscal 2020, despite the increase in customer service charges, whereby base rates increased on average by 29.5%, effective September 1, 2020.

“The aviation industry continues to face and adapt to significant challenges due to the COVID-19 pandemic’s impact on demand for air travel. Throughout this period, NAV CANADA has maintained a strong focus on delivering on our core safety mandate and prudent fiscal management,” said Raymond Bohn, President and CEO. “As we look to the future, continued fiscal responsibility, judicious investment in air navigation system modernization and the dedication of our people will be foundational in delivering value to our customers and industry stakeholders while continuing to deliver on our safety mandate. NAV CANADA is taking all necessary steps to ensure it is well positioned to safely support the aviation industry recovery which we see occurring as air carriers restore routes, vaccination levels increase and as travel restrictions are removed.”

Operating expenses for fiscal 2021 were $1,278 million as compared to $1,371 million in fiscal 2020 mainly due to Canada Emergency Wage Subsidy receipts and continued cost saving measures, partially offset by a full year of oceanic space-based surveillance data service costs, which came into effect in January 2020.

Other income and expenses for fiscal 2021 were a net expense of $176 million as compared to a net expense of $241 million in fiscal 2020. During fiscal 2021, the Company recorded a $36 million (U.S. $30 million) non-cash reduction to the fair value of its investment in preferred interests of Aireon LLC, for accounting purposes, as compared to a reduction of $112 million (U.S. $82 million) recorded in fiscal 2020. The reduced fair value reflects the continued impact of the COVID-19 pandemic on the global aviation industry.

The Company had a net loss (before net movement in regulatory deferral accounts including rate stabilization) of $577 million in fiscal 2021 as compared to a net loss of $584 million in fiscal 2020. This is reflective of the material decrease in revenue and reduction in the fair value of the Company’s investment in preferred interests of Aireon LLC due to significantly lower air traffic. The debit balance of the rate stabilization account increased to $656 million at the end of fiscal 2021 from $255 million at the end of fiscal 2020.

The Company had negative free cash flow(2) of $509 million in fiscal 2021 as compared to $231 million in fiscal 2020. Cash flow for operating expenses and capital expenditures again exceeded receipts from customer service charges in fiscal 2021. During the second quarter, the Company issued $500 million of General Obligation Notes. Net proceeds of these notes were used to repay the $250 million Series MTN 2011-1 General Obligation Notes which matured on February 18, 2021 and the remaining balance is being used for general corporate purposes. Since the onset of the pandemic, the Company has increased its long-term debt by $1,100 million. The Company ended the fiscal year with a cash balance of $319 million.

The Company is subject to legislation that regulates its approach to setting customer service charges. The timing of the recognition of certain revenue and expenses recovered through customer service charges is recorded through movements in regulatory deferral accounts. The net movement in regulatory deferral accounts for fiscal 2021 was income of $577 million as compared to income of $584 million in fiscal 2020. This change in regulatory deferrals is primarily due to lower adjustments to align the accounting recognition of certain transactions to the periods in which they will be considered for rate setting of $60 million, largely offset by higher rate stabilization adjustments of $53 million.

Associated Links

The Company’s Financial Statements, Management’s Discussion and Analysis and Annual Information Form for the year ended August 31, 2021 can be found at:

Financial Statements
Management’s Discussion and Analysis
Annual Information Form

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. Air traffic management systems developed by NAV CANADA are used by air navigation service providers in countries worldwide.

NAV CANADA announces appointment of Vice President and Chief Financial Officer

OTTAWA, ON, Oct. 21, 2021 /CNW/ – NAV CANADA today announced the appointment of Donna Mathieu, to the position of Vice President and Chief Financial Officer, effective January 13, 2022. Ms. Mathieu replaces Alexander (Sandy) Struthers who will be retiring January 12, 2022.

Donna Mathieu, NAV Canada

“I am very pleased that Donna will be assuming this strategically important role with NAV CANADA,” said Raymond G. Bohn, President and CEO. “Donna is a seasoned financial professional with extensive experience both within NAV CANADA and in the broader private sector, and her expertise has been instrumental in NAV CANADA’s success in navigating the unprecedented financial challenges faced during the COVID-19 pandemic.”

Ms. Mathieu has held progressively senior positions within NAV CANADA and is currently the Vice President, Chief Investment Officer & Treasurer.

Prior to her impressive career with NAV CANADA, Ms. Mathieu held progressively responsible roles with KPMG where she worked across Canada, Europe and the Caribbean. Ms. Mathieu holds CFA and CA designations and is a Member of the Canadian Institute of Chartered Accountants, in addition to holding a Bachelor of Commerce from Carleton University.

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. Air traffic management systems developed by NAV CANADA are used by air navigation service providers in countries worldwide.

NAV CANADA reports September traffic figures

OTTAWA, ON, Oct. 15, 2021 /CNW/ – NAV CANADA announced today its traffic figures for the month of September 2021, as measured in weighted charging units for enroute, terminal and oceanic air navigation services, in comparison to the last fiscal year and to its 2019 fiscal year. 

In September 2021 weighted charging units increased by an average of 72.9 percent compared to the same month in 2020. As compared to the same month in 2019, September 2021 weighted charging units decreased by an average of 35.2 percent.

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. Air traffic management systems developed by NAV CANADA are used by air navigation service providers in countries worldwide.

NAV CANADA reports August traffic figures

OTTAWAON, Sept. 13, 2021 /CNW/ – NAV CANADA announced today its traffic figures for the month of August 2021, as measured in weighted charging units for enroute, terminal and oceanic air navigation services, in comparison to the last fiscal year and to its 2019 fiscal year. 

In August 2021 weighted charging units increased by an average of 66.9 percent compared to the same month in 2020. As compared to the same month in 2019, August 2021 weighted charging units decreased by an average of 42.2 percent.

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. Air traffic management systems developed by NAV CANADA are used by air navigation service providers in countries worldwide.

NAV CANADA reports July traffic figures

OTTAWA, ON, Aug. 13, 2021 /CNW/ – NAV CANADA announced today its traffic figures for the month of July 2021, as measured in weighted charging units for enroute, terminal and oceanic air navigation services, in comparison to the last fiscal year and to its 2019 fiscal year. 

In July 2021 weighted charging units increased by an average of 52.3 percent compared to the same month in 2020. As compared to the same month in 2019, July 2021 weighted charging units decreased by an average of 50.6 percent.

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. Air traffic management systems developed by NAV CANADA are used by air navigation service providers in countries worldwide.

NAV CANADA announces retirement of Vice President and Chief Financial Officer

OTTAWA, July 20, 2021 /CNW/ – NAV CANADA today announced the planned retirement of Alexander (Sandy) N. Struthers, effective December 31, 2021.

Sandy joined NAV CANADA in November 2016 as the Company’s Chief Financial Officer. He provided executive leadership and direction to the Finance Department, overseeing the finance function including the issuance of public debt in support of the Company’s capital and operating programs.

“I would like to thank Sandy for his outstanding service as the Company’s Chief Financial Officer over the past five years,” said Raymond Bohn, President and Chief Executive Officer of NAV CANADA.

More recently during the COVID pandemic, Sandy helped secure the financial footing to navigate the company through the most difficult financial period in its history.

“The Board of Directors, Executive Management Committee and all employees wish him well in his well-earned retirement,” added Bohn.

A successor will be announced by NAV CANADA in due course.

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. Air traffic management systems developed by NAV CANADA are used by air navigation service providers in countries worldwide.

SOURCE NAV CANADA

NAV CANADA reports June traffic figures

OTTAWA, ON, July 16, 2021 /CNW/ – NAV CANADA announced today its traffic figures for the month of June 2021, as measured in weighted charging units for enroute, terminal and oceanic air navigation services, in comparison to the last fiscal year and to its 2019 fiscal year. 

In June 2021 weighted charging units increased by an average of 45.4 percent compared to the same month in 2020. As compared to the same month in 2019, June 2021 weighted charging units decreased by an average of 57.9 percent.

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. Air traffic management systems developed by NAV CANADA are used by air navigation service providers in countries worldwide.