Published on April 30th, 2019 | by Mark Dwyer0
IAA Annual Report – Revenues up in 2018
The Irish Aviation Authority (IAA) has reported a 2.8% increase in revenues in 2018, recording a turnover of €198.9 million compared to €193.4 in 2017.
The IAA also reported a profit after tax of €31.3 million, up from €26.3 million in 2017. In line with this continued strong performance in 2018, the IAA also announced the payment of a €19.5 million dividend to the State shareholder, made up of an ordinary dividend of €7.5 million and a special dividend of €12 million.
2018 was the busiest ever year for Irish aviation, with the IAA overseeing more than 1.15 million flights. Ireland’s air traffic grew by over 1.4% compared to 2017.
Peter Kearney, Chief Executive of the IAA said, “This is a very satisfactory financial performance in 2018, a year in which the IAA safely and efficiently managed a record number of flights in Irish airspace. Despite the uncertainty due to Brexit, these results demonstrate the benefits of our continued investment in technology and our people, and will further cement our position as a leading aviation regulator and service provider.”
Some other notable figures from the report;
- 12,237 Flight Crew Licences (1,100 Brexit pending)
- 1,836 Maintenance Engineers (300 Brexit pending)
- 257 Air Traffic Controllers
- 49 Radio Officers
- 10 AFISOs
- 1440 Registered Aircraft (896 on an AOC, 544 General Aviation)
- 13 Fixed Wing AOCs, 3 Helicopter AOCs
- 11,765 Registered Drones
- 30 ATOs / DTOs
- 23 Licensed Aerodromes
- 9 Maintenance Training Organisations
- 11 Flight Simulators
- 2 Aeromedical Centres
Former Chief Executive Eamonn Brennan has initiated legal proceedings against the IAA for breach of contract of employment for the amount of €782,466. The company is defending the claim. Following his resignation from his post on 29th December 2017, the board made a payment to Mr. Brennan of €81,000 (Gross). The payment was made in full and final settlement of all matters arising from his employment with the IAA. At the request of the government, the Board engaged with Mr. Brennan to voluntarily return this payment which he did in May 2018. No further details are given.
The construction of the new control tower at Dublin Airport is due to be completed this month. The construction phase is currently on schedule, to specification and within budget. The IAA Technology and Operations teams will spend the next 12 months installing and testing equipment ready for operations in mid-2020.
The full report is available HERE.