Airline company sees profits surge

Climbing revenues and the acquisition of new clients resulted in Irish airline software company Datalex reporting a surge in profits after tax last year.

They rose from $1.1m (€796,000) in 2012 to $1.6m (€1.15m) last year.

Chief executive Aidan Brogan has been rewarded for his stewardship of Datalex, with the annual report showing his total remuneration package for 2013 was $515,000.

Datalex financial director David Kennedy received a pay package of $347,000. However, both men waived directors’ fees of $48,000.

In the same period, the company’s revenue grew 18% to $38m, an increase which Mr Brogan attributed to transaction revenues, up nearly 20% to $17.5m

Mr Brogan said the signing of new airlines including JetBlue in the US will continue to power the company’s growth.

As a result of the confidence that revenues at Datalex will continue to grow for at least the next three years, the board has decided to award shareholders their inaugural dividend, at 2c per share.

Among the beneficiaries of the dividend will be Dermot Desmond’s International Investment and Underwriting, which will receive more than $400,000 as a result of its 28% shareholding.

“We have signed significant new contracts with leading airline brands, such as JetBlue and Virgin Atlantic, which secure transaction revenue growth in the medium term,” Mr Brogan said.

“As a strong statement of confidence in the company’s growth prospects, I am also pleased to report that the board has proposed the payment of the first dividend in the company’s history,” he added.

Datalex has also begun to make aggressive moves into the Asian market. It has formed a partnership with AirChina and has opened an office in Beijing.

AirChina is expected to offer significant growth prospects for Datalex, as only 10% of its 50m passengers book through the website. However, this figure is growing by some 20% a year.

Last year, more than 1bn people used Datalex’s software to book a flight or an auxiliary service.