State air traffic controller Airnav Ireland ended last year with almost €100 million cash after earning profits of almost €12 million, its annual report shows.
Airnav earns revenue from providing air traffic control to aircraft using the Republic’s airports and to those travelling through the State’s airspace, as well as radio services to transatlantic traffic.
The State company posted an €11.95 million profit last year, an increase of about 16 per cent on the €10.3 million recorded in 2024.
Revenues rose almost 14 per cent in 2025 to €210 million, the figures show.
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Airnav’s accounts state that it ended the year with €99.7 million in cash, including money held on short-term deposits and investments.
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Most of Airnav’s revenues come from navigation services provided to aircraft travelling through the State’s airspace, through which most traffic between Europe and North America must pass.
Revenues from this service grew 8 per cent to €150 million last year from €139.1 million in 2024.
Earnings from aiding take-off and landing at Irish airports were flat at €33 million, the annual report states.
Last month, the High Court allowed the company to reduce its capital, freeing up €310 million on its balance sheet.
The move stemmed from the creation of Airnav in 2023 when it was split from safety and consumer regulator, the Irish Aviation Authority.
Airnav subsequently told staff that none of the €310 million would be used to pay dividends to the Exchequer.
The agency is in talks with unions and staff under the auspices of its Internal Disputes Resolution Board.
The Irish Air Traffic Controllers’ Association has raised concerns about staff numbers at the agency, which is dealing with growing demand from expanding air travel.
Airnav’s board is proposing to pay a dividend of €4.8 million to the Exchequer this year.
Staff number rose to 677 from 642 in 2024. Airnav boosted employment across all grades, including air traffic controllers, whose numbers grew to 311 from 303.
It had 36 student air traffic controllers last year, up from 26 in 2024.
Chairman Bryan Bourke noted that 2025 featured record levels of air traffic and the beginning of a new regulatory period.
He said the agency focused on providing safe and reliable services in an increasingly complex environment “while continuing to invest in the foundations to meet future demand”.
Chief executive Gerald Caffrey added that Airnav was well positioned to meet the challenges ahead.
