24 April 2024
- 2023 marked a pivotal year for AirNav Ireland. On 30 April 2023, the IAA’s air navigation service provision function separated from the IAA regulator, and AirNav Ireland, Europe’s newest air navigation service provider (ANSP), was established.
- AirNav Ireland turnover in 2023 was €194.5 million.
- Operating profit amounted to €16.1 million, with a profit after tax of €16 million.
- AirNav Ireland does not receive any funding from the State.
24th April 2023: AirNav Ireland has today published its annual report and financial statements for 2023. The Group has reported a profit after tax of almost €16 million for 2023, up from €9.8 million in 2022.
Turnover increased by 5% to €194.5 million in 2023 from €185.0 million in 2022.
Safety is AirNav Ireland’s number one priority and underscores everything that the Company does. In the eight months from 30 April to the end of 2023, the Company carried out its air traffic management functions safely, effectively, and efficiently, with one of the lowest unit rates in the EU.
In 2023, air traffic exceeded 2019 levels for the first time since the COVID-19 pandemic. Overall, air traffic grew by 14.3% in 2023 compared to 2022 and increased by 2.9% on 2019 levels. During the year, 664,000 flights were managed in Irish-controlled airspace, an increase of 14% on 2022 levels. Commercial air traffic at the State airports, Cork, Dublin and Shannon, taken together, increased by 15.7% to just under 275,000 movements. North Atlantic traffic increased by 13.5% on 2022 volumes, with HF (high frequency) voice communications services being provided to almost 518,900 flights.
Mr Bryan Bourke, Chairperson AirNav Ireland Board, said that the Group invested €13.4 million in capital projects to support the functions it delivers on behalf of the State and in order to provide safe, resilient and efficient service.
“As a commercial semi-State company AirNav Ireland is financially self-sufficient and does not receive any State funding. I am pleased to report that, for our first year of operations, the Board has proposed a dividend to the State, our shareholder, of €4.5million in respect of 2023, based on 30% of the Company’s profit after tax.,” he said.
The Company had 634 employees at 31st December 2023. Recruitment was an area of high activity in 2023, particularly in front line air traffic control and engineering roles. The company will continue to focus on recruiting these skills and increasing the number of females employed.
AirNav Ireland Chief Executive, Dr. Peter Kearney said that in 2023, AirNav Ireland continued to progress critical projects supporting capacity, obsolescence and regulatory compliance as well as safety and security enhancements. In addition to the investment in training and developing the staff, a project of works is underway to facilitate a major upgrade of our ATM systems.
“Sustainability is a core focus for AirNav Ireland, as we are dedicated to minimising aviation's environmental footprint and advancing a sustainable agenda. Through the implementation of environmentally conscious operations, we are committed to reducing the impact of aviation on the environment. Acknowledging the urgent need for action to address the climate challenges confronting both the industry and society, we recognise the collective responsibility of all aviation entities to do more. Our aim is to lead the way in sustainable aviation, setting the standard through our actions and advocating for sustainable practices across the aviation sector,” he said
Sustainability was also an important priority for the Board and the Company throughout 2023 and AirNav Chair Mr Bourke stated:
“The Board is prioritising environmental sustainability across all aspects of our business. This is a strategic objective, and we support efforts to ensure the sustainability of aviation for the future and especially for Ireland, as an island nation. During the year, the Board approved a five-year Sustainability Management Plan which includes a commitment to achieving net-zero carbon emissions from its own activities by 2030.”