Barry O'Halloran

1 week ago | irishtimes.com | Barry O'Halloran

An air taxi built by Irish-backed Vertical Aerospace passed a key milestone with a successful test of its ability to fly like a conventional aircraft, according to company chairman Dómhnall Slattery. Founded by Belfast man Stephen Fitzpatrick, New York-listed Vertical Aerospace is developing electric vertical take-off and landing (EVTOL) aircraft at its base in Bristol in England.

1 week ago | irishtimes.com | Barry O'Halloran

Likely investors are interested in backing troubled airline Cityjet, the High Court heard on Monday, as it extended the carrier’s protection from creditors given earlier this month. Mr Justice Michael Quinn confirmed the appointment of examiners, Kieran Wallace and Andrew O’Leary of specialist firm Interpath Advisory to oversee a rescue of the carrier, which owes creditors €13 million.

1 week ago | irishtimes.com | Barry O'Halloran

State agri food agency Teagasc has opened a new research centre to aid Irish brewers and distillers to develop new beers and whiskeys to keep pace with changing consumer tastes. Martin Heydon, Minister for Agriculture, Food and the Marine, opened the centre, at Teagasc’s Oakpark facility in Co Carlow at the weekend. The National Centre for Brewing and Distilling includes equipment for testing grains for malting to allow the production of small batches for the craft beer and spirits industries.

2 weeks ago | irishtimes.com | Barry O'Halloran

State-owned energy supplier ESB owed €5.66 billion to creditors holding its bonds at the end of last year, new figures show. The group, whose Electric Ireland subsidiary sells electricity and gas, borrows money from capital markets by issuing bonds through another arm, ESB Finance Designated Activity Company. Accounts recently filed for that business show it owed €5.66 billion in total on foot of those bonds on December 31st last year.

2 weeks ago | irishtimes.com | Barry O'Halloran

Aircraft lessor SMBC Aviation Capital’s profits soared to $1.2 billion (€1.06 billion) in the 12 months to March 31st as it settled lawsuits with insurers over planes lost to Russia. Excluding those deals, the Irish company said on Thursday that its main business, buying planes and leasing them to global airlines, grew pretax profits 22 per cent to a record $563 million over the same period.