BRIEF-Nav Canada Q2 revenue $309 mln

Fri Apr 8, 2016 6:06pm EDT
 
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April 8 (Reuters) - Nav Canada

* Nav canada announces second quarter financial results

* Q2 revenue $309 million

* Nav canada says growth in air traffic volumes of 4.5 per cent for q2 of fiscal 2016

* Says To Revise Service Charges Through A Temporary One-Year rate reduction in addition to revisions to our base rates

* Nav canada says also proposing to revise its base rates in order to ensure they are aligned with costs.

* Nav canada says proposed revision will result in an average reduction of 3.9 per cent from existing base rates

* Net movement in regulatory deferral accounts for q2 was an expense of $15 million as compared to an expense of $11 million

* Nav canada qtrly net loss (before net movement in regulatory deferral accounts including rate stabilization) of $24 million versus net loss of $22 million Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)