New data has been released indicating that pre-tax profits at the company that runs the west’s Knock Airport rose fivefold in 2016.
According to The Irish Independent, last year was a record-breaking one for Knock Airport, with passenger numbers going up 7% to 733,869 while revenues rose 3% to €12.6 million. This led to the firm’s pre-tax profits rising 473% from €112,161 to €642,788.
Additionally, a €7.3 million investment by seven local authorities to take 17.5% equity in the airport company that was finalised in 2016 places a value of €41.7 million on the airport firm.
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The company’s directors attribute rising passenger numbers to the inauguration of routes to Birmingham, Edinburgh and Costa Rica, as well as the launch of a charter service from Boston with Aer Lingus. The directors also noted that the development of the Wild Atlantic Way is of continued benefit to the airport.
Approximately 750,000 passengers are expected to pass through Knock Airport in 2017, an increase of 2% on 2016.