Thank you, Madam Speaker. The negotiations with Transport Canada at the current time are close to completion. We're hoping that they'll be concluded over the next few weeks. However, the recent announcement by the Federal Minister of Transportation with respect to a national airport policy has signalled a somewhat tougher approach that the federal government wants to take with respect to base funding. We're optimistic that we can come to a successful agreement in the next three, four or five weeks and meet the deadline of hopefully April 1, 1995 as we outlined to the Standing Committee on Finance, I believe. However, if we do fail with the negotiations, we believe that given the current position of the federal government, there'll be a significant downgrading, if you want, with respect to Arctic A airports. We're on the optimistic side. We hope that we can conclude an arrangement within the next three or four weeks, then move forward and they'll schedule to transfer the responsibility effective April 1st.

However, on the other side with the statements made by the federal government with respect to looking for cuts and savings, we're a little apprehensive at this time. So it's kind of a double-edged sword. Thank you.