NAV CANADA Invests Further In JV

NAV CANADA has invested an additional $40m in Aireon, a joint venture (JV) with Iridium Communications, further increasing its ownership of Aireon to 18.7 per cent on a fully dilated basis. NAV CANADA is able to acquire up to 51 per cent of Aireon as per contracts signed in November 2012. Aireon aims to deliver global aircraft surveillance through Automatic Dependent Surveillance-Broadcast (ADS-B) receivers on Iridium’s second generation satellite constellation. The new capability aims to extend air traffic surveillance worldwide, promising fuel savings and a reduction in emissions for airlines.

TAGS: Technology
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