OTTAWA, ON, April 9, 2026 /CNW/ – NAV CANADA today released its financial results for the three and six months ended February 28, 2026.
In the second quarter of fiscal 2026, NAV CANADA maintained financial stability while continuing to advance investments in the infrastructure and systems that support Canada’s air navigation system. Air traffic levels moderated during the quarter, primarily due to severe weather disruptions that impacted aviation system capacity. At the same time, the Company continued to progress its modernization agenda, directing resources toward priority initiatives that strengthen service delivery and long‑term operational resilience. Looking ahead, NAV CANADA is monitoring emerging geopolitical developments and higher fuel costs, which may place additional pressure on the aviation industry and could influence future traffic levels and operating costs, depending on their duration and severity.
“We are making deliberate investments in the systems and infrastructure that will define the future of air navigation in Canada,” said Mark Cooper, President and CEO. “This quarter reflects the balance we’re maintaining: strengthening service delivery today while building the capacity and resilience our industry partners and customers will need in the years ahead.”
In the second quarter of fiscal 2026, the Company saw an increase in air traffic levels, as measured in weighted charging units(1), of 1.5% on a year over year basis. The Company’s revenue was $405 million for the second quarter of fiscal 2026, which is $9 million higher than the same period in fiscal 2025, due to higher weighted charging unit volumes and the increase in customer service charge rates effective January 1, 2025.
The Company ended the quarter with strong liquidity reserves, including a cash balance of $393 million. This liquidity position provides flexibility to manage through periods of air traffic volatility and cost pressures, while continuing to fund critical operations and infrastructure investments. Negative free cash flow of $71 million was generated in the second quarter of fiscal 2026, compared to $69 million in the same period in fiscal 2025, reflecting increased investment in the Company’s infrastructure.
The rate stabilization account shortfall balance increased by $60 million in the second quarter of fiscal 2026. As of February 28, 2026, the shortfall balance was $89 million and is expected to be recovered from customers through future service charges.
Associated Links
The Company’s Financial Statements and Management’s Discussion and Analysis for the three and six months ended February 28, 2026 can be found at:
