|Grant helps Knock profits|
|Written by Frank Corr|
|Wednesday, 07 September 2011 09:24|
Knock Airport posted a profit last year, but the directors have warned that the loss of the public service obligation subsidy from July would have “a significant financial impact on the company, regional tourism and business travellers”.
Accounts filed at the Companies Office show the company behind the airport – Connaught Airport Development Ltd – recorded a pretax profit of €293,960. That was down 48 per cent on 2009, with directors attributing much of the reduction on the impact of the ash cloud which impacted on Irish airspace.
Without the Department of Transport grant of €760,948 the operation would have recorded a pretax loss of €466,988 despite a fractional increase in revenues last year to €10.3 million from €10.1 million a year earlier.
Yesterday the airport confirmed that last month was the busiest month in the airport’s history, with passenger numbers totalling 84,000.