NAV Canada finalized an agreement with Iridium to invest in a...
NAV Canada finalized an agreement with Iridium to invest in a joint venture for global, satellite-based aircraft tracking. This year, Iridium announced its plans to introduce Aireon, an effort to provide satellite-based surveillance capability for air navigation service providers (CD…
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June 20 p6). Through the agreement NAV Canada will purchase “Series A preferred membership interests representing up to 51 percent of the fully diluted equity of Aireon,” it said in a press release (http://xrl.us/bn2jqn). The company also plans to become an Aireon customer, “aiming to deploy this new satellite-based surveillance capability in its North Atlantic airspace operations,” it said.