IAA pays increased dividend to State as it manages 1m flights over Irish airspace
Published 12/04/2016 | 02:30
The Irish Aviation Authority (IAA) increased the dividend it paid to the State by 13.7pc - to €7.43m - after a jump in operating profits last year.
The IAA, which is responsible for managing air traffic in Irish-controlled airspace, said operating profits rose 13.2pc to €33.6m, on a turnover of €183.4m.
The dividend was equivalent to 30pc of its pre-tax profits.
Chief executive Eamonn Brennan said he was "very pleased" with the 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 5.6pc and we safely managed just over 1 million flights last year," he said.
The IAA generates revenue from charging airlines and said it receives no funding from the Government.
The body is also responsible for the safety regulation of the Irish civil aviation industry, and aeronautical communications on the North Atlantic.