Losses slow down at Aircoach firm
Published 26/08/2015 | 02:30
Pre-tax losses at Aircoach fell dramatically last year after a jump in revenues.
Figures lodged with the Companies Office show that Aircoach firm, Last Passive, reduced its losses by 76pc from €3.2m to €773,000 in the 12 months to the end of March 29 last year.
This followed revenues increasing by 11pc from €16.28m to €18.1m.
According to the directors' report, "the company remains ideally placed to benefit from the planned liberalisation of public transport markets both in the Republic and Northern Ireland".
The managing director of Aircoach, Allen Parker, said yesterday: "The upturn in the economic environment and our ongoing investment in our services has been a positive influence during 2015."
He added: "We continue to invest in new coaches and service developments while offering passengers the lowest prices on travel to and from Dublin Airport from Cork, Belfast and Dublin City."
Aircoach is owned by UK-based Firstgroup and numbers employed by Aircoach rose from 190 to 195 made up of 186 operatives, five in administration and four in management.
Staff costs fell from €7.8m to €7.4m. Costs last year include directors' remuneration of €203,000.