Nav Canada sells its stake in Aireon Holdings for US$166 million

Published: 2026-05-14 08:50:13 ET IRDM

Published on 05/14/2026 at 08:50 am EDT - Modified on 05/14/2026 at 08:51 am EDT

OTTAWA - Nav Canada says it has signed a deal to sell its stake in Aireon Holdings LLC to a subsidiary of Iridium Communications Inc. for US$166 million.

Aireon operates a real-time, air traffic surveillance system using space-based Automatic Dependent Surveillance – Broadcast (ADS-B) technology.

Nav Canada says it was one of the first to make a significant equity investment in Aireon in 2012.

It says it has worked with Aireon, Iridium and other air navigation service provider investors to launch and grow the business.

The deal, which is subject to customary closing conditions, is expected to close this summer.

The purchase price is set to be paid in two tranches, half at closing and half on the one-year anniversary.

This report by The Canadian Press was first published May 14, 2026.