IAA Operating Profit Up 18.3% in 2016 to €39.5m
IAA Operating Profit Up 18.3% in 2016 to €39.5m
Dublin, 21st April 2017: The Irish Aviation Authority (IAA) has reported a 18.3% rise in operating profits to €39.5 million on a turnover of €191.9 million in 2016. In line with this improvement, the IAA also announced the payment of a €9.2 million dividend to the State shareholder, an increase of 24.3% 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. The IAA is one of the most competitive service providers (ANSPs) in Europe and its productivity is 30% higher than the European average as independently verified by the EUROCONTROL ATM Cost Effectiveness Benchmarking Report 2016 (ACE Report). This is achieved by deploying one of Europe’s most advanced Air Traffic Management systems.
Eamonn Brennan, IAA Chief Executive said, “I am very pleased with our 2016 results and I want to take the opportunity to thank all our staff for their role in achieving this very strong and consistent performance. Investments in technology and our continuing high performance and efficiency programme ensure that we can maintain our position as a leading aviation regulator and service provider.”
Traffic at Irish State airports and through Irish controlled airspace increased by over 8% and the IAA safely managed just over 1.1 million flights last year.
The IAA’s highly efficient business performance was also recognised by our airline customers who rewarded the IAA with an overall satisfaction rating of 92.5% in 2016 (based on performance scores from the IAA’s top 30 airline customers).
“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. Furthermore, in November 2016, the IAA was in first position out of 47 States for the EUROCONTROL CANSO Standard of Excellence survey in Safety Management Systems and maturity measurement,” added Mr. Brennan.
A copy of the Annual Report 2016 can be accessed here: https://www.iaa.ie/who-we-are/about-the-irish-aviation-authority/annual-report-accounts
For further information, please contact:
Manus Weed| +353 (0) 87 690 33 86| manus.weed@iaa.ie