Pre-tax profits at aviation firm rise 81% to €5.8m

Pre-tax profits at Shannon- based aircraft leasing and sales firm Magellan Aviation Services increased by 81% to $7.3m (€5.8m) last year, figures show.

Accounts filed to the Companies Office show Magellan increased its revenues by 15% from $45.1m to $51.8m in the 12 months to the end of December last.

The principal activity of the company is the purchase, stocking and resale of rotable and expendable aircraft parts and the leasing of engines.