The Irish Aviation Authority last year enjoyed pretax profit of €11.37 million. Photograph: iStockThe Irish Aviation Authority last year returned to profit following the easing of international air travel restrictions. It recorded a pretax profit of €11.37 million after a pretax loss of €164,000 in 2020.
The IAA enjoyed an operating profit of €7 million and profits were boosted by “other income” of €5.35 million, made up of Government Covid-19 wage supports. On the IAA response to Covid-19, Ms Hynes said in 2021 the authority handled 50 per cent fewer flights when compared to activity in 2019 resulting in a similar reduction in cash receipts.In his report, chief executive Peter Kearney said the company was “in a position to conclude the majority of cost containment mechanisms before the end of the year”.
“This decrease would have been more severe if cost containment measures had not been implemented. Cost containment in 2020 and 2021 was a necessary component of our strategy to manage our way through the crisis and secure the future of the company,” he said.