Irish maintenance provider Dublin Aerospace delivered a €2.6 million ($3.2 million) operating profit during the financial year ended 30 September 2020, down from €5.7 million in previous year, and intends to continue investment in new facilities despite the pandemic.
Revenue declined 16% to nearly €43 million.
Chief executive Conor McCarthy states: “Given the disruptive and unforeseen circumstances we have all faced this past 12 months, I am very pleased with the overall results we have achieved.”
He adds: “Our revenues were impacted significantly during the latter half of the year, but the availability of Irish government wage supports helped maintain full employment and support our financial position.”
The MRO provider will open this month a new landing-gear facility in Ashbourne, northwest of its base at Dublin airport, which will double repair capacity to almost 400 landing-gear legs. The site is expected to ultimately create nearly 150 jobs.
McCarthy says the company is “remaining optimistic for the future of commercial aviation and air travel post pandemic” and has therefore continued to “invest heavily” in the new landing-gear shop.
Under a plan disclosed in September 2020, the MRO provider is in the process of establishing its first overseas subsidiary, Exeter Aerospace, in the UK to service ATR and De Havilland Canada Dash 8 turboprops and Embraer E-Jets. The site at Exeter airport was previously occupied by defunct regional carrier Flybe.
At its headquarters in the Irish capital, Dublin Aerospace supports Boeing 737s, Airbus A320-family jets and A330s.Irish maintenance provider Dublin Aerospace delivered a €2.6 million ($3.2 million) operating profit during the financial year ended 30 September 2020, down from €5.7 million in previous year, and intends to continue investment in new facilities despite the pandemic.
