Wednesday 7 December 2016

Driving Mr O'Leary Taxi firm posts €53,000 profit for year

Published 05/07/2011 | 05:00

Michael O'Leary prefers to travel by cab so he can use taxi and bus lanes in Dublin while commuting from Mullingar
Michael O'Leary prefers to travel by cab so he can use taxi and bus lanes in Dublin while commuting from Mullingar

The firm behind Ryanair boss Michael O'Leary's personal taxi posted a profit of €53,000 in the 12 months to the end of last August, according to accounts just filed for the company called Tillingdale.

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Mr O'Leary acquired a taxi licence back in 2003 so he could use taxi and bus lanes in Dublin while commuting between his home in Mullingar and Ryanair headquarters at Dublin Airport.

The company, which has a hackney licence from Westmeath County Council, charges Mr O'Leary a fee for using its services, although the company is owned by him.

The accounts note that Tillingdale charged Mr O'Leary €89,168 for services in the last accounting period, while purchases totalling €229,369 were made from him by the company during the year and sales of €262,681 were made to him in the same period.

At the end of August last year, the company owed Mr O'Leary €469,803, compared with €17,954 at the end of the previous 12 months.

The company has been using a 2007 5.5-litre petrol CL class Mercedes.

It went up for sale in January at an asking price of €50,000 and had almost 59,000km on the clock. By April it was still for sale, but now appears to have found a new home.

Irish Independent

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