Saturday, July 13, 2024 NAV CANADA has published its financial results for the three and nine months ending May 31, 2024. The third quarter of fiscal 2024 highlighted a notable 5.6% year-over-year increase in air traffic levels, measured in weighted charging units.
For the third quarter of fiscal 2024, the Company reported revenues of $433 million, slightly down from $436 million in the same period of fiscal 2023. Despite a decrease in free cash flow to $17 million from $32 million in the third quarter of fiscal 2023, this was primarily due to higher capital expenditures. This impact was partially mitigated by increased operating cash inflows compared to the previous year.
NAV CANADA concluded the quarter with a robust cash balance of $571 million. “Partnering for success is a foundational concept to how NAV CANADA will achieve its long-term goals, and this concept featured strongly in the third quarter,” said Raymond G. Bohn, President and CEO, NAV CANADA.
“Our partnership with CAE brings two leading Canadian companies together to augment our training capacity, contributing to the future sustainability of operations and bringing more Canadians into our highly skilled workforce sooner. We celebrated the ground-breaking of our first LEED certified Control Tower with the Victoria Airport Authority and, more recently, have announced our technology partner that will support our Digital Aerodrome Air Traffic Services program. Our partners, customers and our people are at the.
