A flying success!
A Cork headquartered training company has made a significant economic contribution to the economy in Munster, a new report published this week has found.
The Economic & Social Impact Report on Atlantic Flight Training Academy (AFTA) has showed how it generated €35m for Cork and Waterford, as well as supported growth across Munster, through job creation, tourism development, international (airline) partnerships, investment in sustainable aviation, as well as, having positive social and cultural benefits for the wider community.
The report was researched and authored by Dr Pio Fenton from Munster Technological University (MTU) in partnership with AFTA. It quantifies AFTA’s economic contribution based on its direct, indirect and induced effects. The research analysis presents a €35 million impact emanating from AFTA’s activities. This is composed of a direct impact of €22 million and indirect impact of €13 million.
Dr Pio Fenton said: “AFTA is a complex business that operates in an intricate ecosystem across the region and beyond. Its impact locally is significant in a number of ways; firstly it is a world-class flight school and it meets the need of aspiring Irish pilots in undertaking their chosen profession while in Ireland. Secondly, given its exceptional industry links, AFTA acts as a magnet for attracting overseas talent to the region. The economic impact of each of these is significant.
“AFTA is at the heart of a complex supply chain that requires a carefully crafted mixture of people, technology and commodity. As a relatively large employer in the SME context, it has a strong direct impact through salary and other factors of €22 million. Its indirect impact is approximately €1 million with a significant induced impact of €11 million. This latter figure is a result of economic activity resulting from strong international student base. There is a further visitor spend impact of just under €1 million.”
AFTA was founded by Captain Mark Casey in 1995 to provide high quality pilot training while upholding the values of professionalism, innovation and safety.
He said the report “isn’t just about numbers — although the numbers are impressive. It’s a record of what can happen when education, industry, and community work together”.
Speaking at the launch of the report Minister of State for Transport Jerry Buttimer TD said: “As a Corkman and Minister of State at the Department of Transport, I am impressed to see that AFTA’s operations, from pilot training and aircraft maintenance to fuel supply, are deeply embedded in Cork, as well as across the Munster regional economy, with a significant reliance on local and national suppliers to sustain its world class facilities and creating local jobs for our communities in Cork and Waterford. I understand that this year alone AFTA will employ an additional 15 staff at its Cork and Waterford facilities, bringing its total headcount as an SME to 85.”