Spring software firm sees losses hit €457,7779

A SOFTWARE company chaired by the former Tánaiste and Labour Party leader Dick Spring has seen its losses nearly double.

Airtel ATN, which is based in Dublin and develops software for air traffic navigators, saw its loss for the year to end June 2003 rise from €277,791 to €457,779.

The company is listed London’s Ofex market for small companies has been chaired by Mr Spring since it was floated.Turnover for the year fell heavily as the aviation industry remained in a slump, Mr Spring said in a statement with the company's accounts.