Funds

October 16, 2006 - 8:00am

After sustaining losses of C$116 million ($91.4 million) after 9/11, Nav Canada, the private, non-share corporation that owns and operates Canada’s civil air navigation system, saw its rate stabilization account–a financial savings buffer to offset downturns in revenue–return to the positive side of the ledger in April.

September 12, 2006 - 9:07am

Nav Canada is reducing user fees–or service charges–by 2 percent beginning next month. Nav Canada’s charter requires that the organization’s revenue essentially balance its operating costs, except under special circumstances.

 
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