IN examinership a few years ago, new accounts filed for Atlantic Aviation show it had a very successful 2016.
The director’s report for the year states, “Since its successful exit from an examinership process in April 2015, the directors have focused on stabilising the business by growing the revenue line, improving efficiencies and reducing the cost base and continue to do so throughout 2017.
“The directors are satisfied with the profitable results for the year and the outlook is positive. A number of managerial changes have taken place and the team has been strengthened in operations, marketing and HR to provide a platform for ongoing profitable growth. The company continues to produce highly-skilled staff through its in-house training academy.”
The company claims that retaining its staff is very important. “A key driver in the business is the retention of staff and the directors/management are endeavouring to make Atlantic Aviation Group a better place to work in the long-term.
“A ‘focus on people and culture’ has been identified as a key strategic pillar for our business and a comprehensive Employee Management and Engagement Plan has been developed to support this.”
The company had a turnover of €25.156 million for the year and a gross profit of €10.147m. The overall profit for the year was €1.687m. Its balance sheet showed net assets of €7.165m.
Atlantic Aviation employed an average of 231 people during the year; 176 mechanics and 55 in management and administration. Aggregate payroll costs for the full year were €10.49m.
In the director’s report, it also insisted that it would seek to deliver very high standards.
“As is common in the aviation industry, safety and quality are of paramount importance. The company has an independent quality assurance department, which monitors product quality, performs audits and ensures compliance with the appropriate regulator authorities. The company also maintains an adequate insurance programme for its products and services.
“The company is heavily committed to training and development of its people and is seeking to improve delivery of needs-based training a part of the new HR management plan.”