OMEGA AVIATION Services, the Shannon-based business owned by brothers Ulick and Des McEvaddy, reported a 35 per cent increase in accumulated profits to €884,022 in 2008.
Recently filed accounts show that the company trades extensively with the brothers’ US-based inflight refuelling business, Omega Air. The US company is the parent of Omega Aerial Refuelling Services, which has a long- standing contract with the US department of defence to provide inflight refuelling services to military aircraft.
According to the defence department, the firm received “a $32.4 million [€26.2 million] modification to a previously awarded indefinite-delivery/indefinite-quantity contract” in March.
This involved “exercising an option for contractor owned-and-operated aircraft in support of the Commercial Air Services programme”.
The work will be performed at various locations in the US (45 per cent east coast, 35 per cent west coast) and at various locations outside the US (20 per cent), and is expected to be complete in March 2011, according to the department of defence website.
Ulick McEvaddy declined to comment on the contract yesterday, saying the company was bound by a confidentiality agreement.
Omega Air had sales to the brothers’ Irish business of €2.3 million in 2008 and also paid expenses on its behalf of €813,603 in 2008.
The Irish company owed the US business just over €3 million at the end of 2008, according to the accounts, which were approved by the directors earlier this month. Total creditors were €7.2 million.
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