KERRY Airport has released the Annual Report & Accounts for the 12-month period ended 31st December 2019 reporting an Operating Profit after Taxation for the period of €1,020,341 as compared to €966,056in the previous year.
Key Points of the Report include:
- Total passenger numbers handled in the year grew to 369,836 compared with 365,339 in the previous year, an increase of 1.2%. This represents good year-on-year performance and is well in line with market expectations. The Kerry-Dublin route performed well with 58,021 passengers for the year and continues to be supported by the higher capacity ATR72 aircraft. The London-Stansted route performed in line with market expectations. London-Luton performed well achieving a final PLF of 85%. Our now well-established German routes to Berlin and Frankfurt-Hahn continue to perform to expectation. The sun holiday routes to Alicante and Faro performed extremely well and we look forward to more opportunities in this market sector.
- Turnover increased from €7.9m to €8.6m reflecting an increase in aircraft and passenger related revenue due to growth in passenger numbers (+1.2%) using the facility, as well as additional business generated via oil exploration (May-August 2019) and event management hosting (July 2019). Profit after Tax of €1,020,341 is after crediting Government grants of €1,277,546 for the period. Profitability has been enhanced by achieving better margins on a number of revenue streams as well as increased activity in both fuel sales and corporate jet activity in the year.
- Enhanced operating capability with a capital investment of €2,565,273 in the period consisting of a new Hold Baggage X-ray unit, Security Fencing re-enforcement, Navigation Aids upgrades and Airfield groundworks which were supported by Capital Grants of €1,918,738 funded by the Department of Transport, Tourism and Sport under the ‘Regional Airport’s CAPEX Scheme 2015-2019’.
Commenting on the financials and the on-going operations of the Airport for the year, Mr. John Mulhern, CEO of Kerry Airport said:
“2019 itself was another successful year following on from a very strong 2018. The PSO (Public Service Obligation) contract for services provided by Aer Lingus Regional as operated by Stobart Air on the Kerry-Dublin route continues to support access for the region to Dublin. This remains a very crucial service and will ensure that Kerry has access to a major hub both in terms of growing tourism and in supporting the region’s economic development. Again, we must stress the critical importance of the Kerry-Dublin air service to the development and the growth of the economy of the South West region and we hope that this product will continue to get the support it deserves.”
He thanked the management and staff for their contribution to a successful year and also the Kerry Airport Chairman Denis Cregan, and his fellow Directors, for their valued input and direction.
Commenting on the challenges presented by the Covid-19 pandemic, John Mulhern said: “Indeed, travel is now ancillary to the incredible efforts being made by so many to keep us safe and well. There is no doubt, when the time is right and it is safe to do so, the Airport will regroup and continue its mission in supporting Kerry and this regions’ economy. Undoubtedly there will be many months, if not years, of toil ahead to recover fully. Kerry Airport will face that challenge unabated.”
BACKGROUND INFORMATION Kerry Airport is ideally located for anyone wishing to travel on business or pleasure with direct flights to seven destinations including: London-Stansted, London-Luton, Manchester, Frankfurt-Hahn, Berlin, Alicante & Faro with Ryanair and to Dublin with Aer Lingus Regional. There is ample and great value parking at Kerry Airport as well as friendly service. For more information visit www.kerryairport.ie.