Irish Aviation Authority profits take off to €30m

The Irish Aviation Authority (IAA) says that, last year, it recorded a very strong financial performance with operating profits increasing by 15.5% to €29.7m.

The authority’s newly published 2014 annual report also shows a 2% increase in revenue to €177.4m. Chief executive Eamonn Brennan said in the report that the financial performance was very strong.

The jump in profits was on the back of the number of flights in Irish airspace last year increasing by 2.7% to 937,537, with the largest proportion being flights between Europe and north America. Some 90% of transatlantic air traffic passes through Irish-controlled airspace.