Knock On Course To Beat Passenger Targets
Published on Nov 3 2014 7:58 AM in General Industry
Knock Airport said that it expects to beat this year's passenger targets of 700,000.
According to The Irish Times, the number of people travelling through Knock fell by 3 per cent in 2013, to 665,400. The previous year was a record year for the airport. Passenger numbers reached 686,000 after the introduction of several new routes.
However, the company behind the airport, Connaught Airport Development Company, is confident that it is well ahead of the target of nearly 700,000 for 2014.
The accounts for 2013 show that the airport lost €695,000 before tax last year, excluding aid received from the taxpayer. Revenues were €13.9 million; little changed from the previous year.
According to the paper, the airport will undergo a €1.9 million runway upgrade this year to meet aviation safety standards. This accounts for the majority of the aiport's capital expenditure.
At the moment, regional airports - including Knock - receive government grants for capital spending and to fund their day-to-day business, if running costs exceed revenues. However, this could change under a new aviation policy drafted this year, which will limit the funding these airports can receive. The government says that this is in line with EU requirements.