NAV Canada will reconsider rate increase in Jun-2010

NAV Canada reports (09-Apr-2010) the following financial highlights:

• Three months ended 28-Feb-2010:
  • Revenue: USD281.0 million, +0.4% year-on-year;
    • En route: USD124.5 million, -3%;
    • Terminal: USD104.6 million, stable;
  • Costs: USD309.9 million, -1.0%;
  • Profit (loss): (USD28.9 million), compared to a loss of USD29.9 million in the previous corresponding period;
• Six months ended 28-Feb-2010:
  • Revenue: USD580.8 million, -1%;
    • En route: USD267.0 million, -5%;
    • Terminal: USD209.2 million, -2%;
  • Costs: USD615.7 million, -1%;
  • Profit (loss): (USD34.9 million), compared to a loss of USD29.9 million in the previous corresponding period. [more]

*Based on the conversion rate at USD1 = CAD1.00373

NAV Canada: "While we are beginning to see some improvement in the air traffic and revenue environment, our results continue to reflect the impact of the global economic downturn and the current recovery period…we will continue to carefully monitor air traffic and revenue, and in June 2010 we will reconsider the need for a rate increase for effect thereafter, in accordance with the ANS Act," John Crichton, President and CEO. Source: NAV Canada, 09-Apr-2010.