Ireland West Airport Knock achieved record-breaking financial and passenger performance in 2025, with pre-tax profits rising 34% to €3.3 million.
The facility handled 946,000 passengers during the period, as Connacht Airport Development Company Ltd reported a 19% revenue increase to €25 million, according to accounts filed and reported by Gordon Deegan.
Passenger Growth Drives Increased Profits and Cash Reserves
The airport's growth during 2025 was driven by a record volume of 946,000 passengers, up from 834,000 in 2024. This surge in traffic allowed the operating firm to report pre-tax profits of €3.3 million, an improvement of €845,000 over the previous year. These figures include non-cash depreciation costs of €3.65 million and government grant funding of €4.66 million.
Aeronautical activities generated €10.7 million in revenue, while commercial streams contributed €14.26 million. The company’s cash reserves improved as well, rising from €11.07 million to €12.67 million by the end of the year. Staffing levels also expanded, with the headcount rising from 153 to 158, leading to an increase in total staff costs from €7.4 million to €8.23 million.
Dependency on Ryanair and Market Diversification
The airport’s operational model remains heavily concentrated on a single carrier. Ryanair accounted for 843,000 passengers in 2025, representing 89% of the total traffic. During that year, the airline operated 17 routes through the airport. In contrast, the Aer Lingus Heathrow service served 96,000 passengers, a performance the directors described as going “from strength to strength.”
Directors highlighted the risk associated with this concentration in the current economic climate. The company continues to pursue a dual strategy of expanding services with incumbent partners while actively seeking to attract new airlines to the facility. This effort is supported by the Regional Airports Programme, which provides exchequer funding for essential safety, security, fire, and air traffic control infrastructure.
Infrastructure Investment and 2026 Outlook
Capital expenditure remained a priority throughout the year, with €8.6 million invested in safety and infrastructural projects. A further €7 million is due to be spent on similar projects this year. These investments are intended to maintain the operational capacity required to support the airport’s growth objectives.
While directors predict 2026 will be another record year for passenger traffic, with projections of more than 950,000, revenue forecasts show a decline to €20 million. This expected reduction is attributed to the transfer of fuel operations to Shell Aviation in the fourth quarter of 2025. The directors said that these operations transitioned without interruption.
The firm maintains a solid balance sheet, ending the year with shareholder funds of €16.67 million, including accumulated profits of €12.8 million. After accounting for a corporation tax charge of €448,953, the company recorded a post-tax profit of €2.85 million.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute financial advice.
