An increase in air traffic volume pushed revenue up at NAV Canada during the first three months of its fiscal year.
The private non-profit air traffic control company reported revenue of $308 million before rate stablization during the three-month period ending Nov. 30. That’s up from $301 million during the same period the year before.
NAV Canada credited the rise in revenue to a 2.5 per cent increase in air traffic volumes.
The company’s expenses were up as well, rising to $251 million from $238 million the year before.
NAV Canada’s rate stabilization account, used to keep rates stable during low-travel periods, also saw an improvement, with its balance rising $7 million to $60 million.
Overall, the company had excess revenue of $6 million before rate stabilization.