Irish Aviation Authority reports 13.2% increase in profits

Profits at the Irish Aviation Authority (IAA) rose 13 per cent to almost €34 million last year, according to figures released on Monday.

The authority is responsible for air traffic control in Irish airspace, which covers about 451,000 sq km, and charges fees to those using it.

Its annual report shows that it generated a turnover of €183.4 million last year and earned profits of €33.6million, 13.2 per cent more than in 2014.

It paid a dividend to the State of €7.4 million, a 13.7 per cent increase on the €6.5 million it paid the previous year.

The authority noted that it receives no money from the State and generates revenue solely from the fees that it charges airlines and others that use the Republic’s airspace.

It also stated that its fees are amongst the lowest in Europe.

IAA chief excutive, Eamonn Brennan, said that he was pleased with the results.

“Investments in technology and our continuing cost containment programme, helped generate the improved performance,” he said.

“At the same time, traffic at Irish State airports and through Irish controlled airspace increased by 5.6 per cent and we safely managed just over one million flights last year.”