June 30, 2025

Condensed Interim Statement of Financial Position 

Management is responsible for the preparation and fair presentation of these unaudited condensed interim financial statements in accordance with International Accounting Standard 34 Interim Financial Reporting, and The Treasury Board of Canada’s Directive on Accounting Standards: GC 5200 Crown Corporations Quarterly Financial Report, and for such internal controls as management determines are necessary to enable the preparation of the unaudited condensed interim financial statements that are free from material misstatement.

(Unaudited)

For the Three Months Ended June 30, 2025

* PDF version

Year ended March 31, 2025

Management’s Responsibility Statement

Year ended March 31, 2025

For the year ended March 31, 2025

Management’s Discussion and Analysis (MD&A) outlines CATSA’s financial results and operational changes for the year ended March 31, 2025. This MD&A should be read in conjunction with CATSA’s audited annual financial statements and accompanying notes for the year ended March 31, 2025, which have been prepared in accordance with International Financial Reporting Standards (IFRS). The information in this report is expressed in thousands of Canadian dollars and is current to June 18, 2025, unless otherwise stated.

The Government of Canada encourages Crown Corporations to voluntarily disclose certain expenditure information in a manner similar to federal departments and agencies, aligned with the Public Accounts of Canada (PA) Vol. III. Below are CATSA’s relevant¹⁰ expenditures, by category, for 2024/25.

In Budget 2021, the federal government announced that all Crown corporations would be required to demonstrate climate leadership by adopting the Taskforce on Climate-Related Financial Disclosures (TCFD) framework, which includes 11 recommended disclosures across four pillars: governance; strategy; risk management; and metrics and targets. These disclosures include an assessment of climate-related risks and opportunities as well as greenhouse gas (GHG) emissions.

Board of Directors

CATSA is governed by an 11-member Board of Directors, appointed by the Governor in Council on the recommendation of the Minister of Transport and Internal Trade. The airline industry and the airport industry nominate two directors each. The Board of Directors and its committees meet on a quarterly basis to oversee the corporation’s business and strategic direction, and their responsibilities include:

Results for the Implementation of CATSA’s mandate

The following key performance indicators (KPIs) are reported to the Senior Management Committee and the Board of Directors on a quarterly basis for oversight and management of CATSA’s performance. The KPIs are categorized according to the Strategic Plan’s four pillars.