IAA Operating Profit Up 13.2% in 2015 to €33.6m
The Irish Aviation Authority (IAA) has reported a 13.2% rise in operating profits to €33.6 million on a turnover of €183.4 million in 2015. In line with the improvement, the IAA also announced the payment of a €7.43 million dividend to the State shareholder, an increase of 13.7% over last year. This equates to 30% of profit after tax.
The IAA is responsible for the provision of Air Traffic Management (ATM) in Irish controlled airspace (covering some 451,000 square km), aeronautical communications on the North Atlantic, and the security oversight and safety regulation of the civil aviation industry in Ireland.
The IAA receives no operational or capital funding from the State. Its revenues are generated through charges and fees from the aviation industry, which are amongst the lowest in Europe.
Eamonn Brennan, IAA Chief Executive said, “I am very pleased with our 2015 results. Investments in technology and our continuing cost containment programme, helped generate the improved performance. At the same time, traffic at Irish State airports and through Irish controlled airspace increased by 5.6% and we safely managed just over 1 million flights last year.”
“Safety is our number one priority. We are independently audited by the European Aviation Safety Agency (EASA) and the International Civil Aviation Organisation (ICAO) and I am pleased to report that we continue to be recognised as having one of the leading jurisdictions for oversight in Europe and the world.