Datalex earnings soar to $12m
Dublin-based airline software firm Datalex has experienced a surge in business last year, with earnings before interest, tax, interest, depreciation and amortisation (ebitda) jumping 18pc to $12.2m (€11.2m).
Revenue at the firm, which provides software to airlines that enables them to boost sales of ancillary items to passengers, was up 19pc at $55.3m (€51m).
Its customers include carriers such as Aer Lingus, Brussels Airlines, JetBlue, Swiss International and Virgin Atlantic.
Last year, Lufthansa selected the Datalex Commerce Digital Platform to help support the airline's digital transformation. Datalex CEO Aidan Brogan said the Lufthansa win was a "major validation" of the company's product and market strategy.
Chairman Paschal Taggart, who owns 3.3pc of Datalex, said the company also continues to deepen its presence in China, where customers already include HNA Group and Air China.
The International Air Transport Association has previously forecast that China will overtake the United States as the world's largest air passenger market by 2024.
Datalex now has six Chinese airlines using its software and has boosted its headcount in the country to 23.
The company hired a total of 80 staff last year and expects to take on more this year.
It's also in the process of selecting a new non-executive director to join the board. Financier Dermot Desmond owns 27pc of Datalex via his IIU Nominees vehicle, while businessman Nick Furlong owns 11.85pc.
Mr Taggart also said that Datalex expects to be "well-placed" cope with issues such as Brexit.