OTTAWA, Aug. 12, 2020 (GLOBE NEWSWIRE) -- NAV CANADA today announced it will proceed with its proposal to increase customer service charges consistent with the proposal to revise service charges and Notice issued May 20, 2020.
The increase is required to allow the Company to achieve a minimum level of revenue in its fiscal 2021 year thereby facilitating the additional borrowings which are needed to provide NAV CANADA with sufficient liquidity to weather the COVID-19 pandemic.
The service charge increases average 29.5% on overall rate levels and are effective September 1, 2020, except where otherwise noted. The Announcement includes provisions to ease the cash flow impact of the increases on its customers through payment deferral mechanisms.
Prior to issuance of the associated May 2020 Notice and continuing throughout the consultation period the Company explored all options, including Federal Government assistance, with the objective of eliminating the need for the increase. Despite these efforts no alternative was found, and the Company has proceeded with today’s Announcement after full consideration of the input received during the consultation period.
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.
For further information, please contact:
Brian Boudreau
Manager, Media Relations
media@navcanada.ca
Media Information Line: 1-888-562-8226