Sunday 16 December 2018

Parc Aviation on a high as profits soar

CAE Parc Aviation is a global leader in providing aviation personnel on lease to airlines and aviation support organisations. Photo: Stock image / Deposit
CAE Parc Aviation is a global leader in providing aviation personnel on lease to airlines and aviation support organisations. Photo: Stock image / Deposit

Gordon Deegan

PRE-TAX profits at Dublin-based aviation firm Parc Aviation last year increased by 37pc to €3.2m as revenues rose.

According to accounts recently filed with the Companies Office, they show that pre-tax profits at Parc Aviation Ltd increased as revenues went up by 5% to €125.66m in the 12 months to the end of March last.

CAE Parc Aviation is a global leader in providing aviation personnel on lease to airlines and aviation support organisations. It is currently providing more than 1,400 flight crew and technical personnel contracted to 70 clients operating 20 different aircraft types in more than 40 countries.

Last year, the company announced the creation of a further 80 jobs in Dublin and Shannon over a three-year period.

On its future outlook, the directors state that the company plans to expand further through a mixture of organic and acquisition-based growth with the objective of consolidating its position as the leading supplier of specialist staff and services to the aviation sector.

During the period under review, Parc Aviation paid a dividend of €3m to its parent - this followed a dividend payout of €3 in the prior year.

Accumulated profits at Parc Aviation last year increased to €8.2 million following the dividend payout and profits. The firm had cash of €6.14m at year end. Directors shared €534,000 in remuneration last year.

The numbers directly employed increased from 75 to 90, with staff costs - including directors' pay - increasing from €4.1m to €5.11m.

Irish Independent

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