Tycoons’ health business in red

Aviation tycoons Ulick and Desmond McEvaddy’s loss-making healthcare business was the chief factor behind the brothers’ group of firms going into the red in 2012, recording pre-tax losses of €491,351.

According to accounts just filed by Dublin-based Omega Aviation Services Ltd and subsidiaries, the McEvaddys continued to count the cost of their foray into the health business in 2012.

The loss in 2012 followed the group recording a pre-tax profit of €713,786 in 2011.