Outgoing independent senator Pádraig Ó Céidigh has sold regional airline Aer Arann Islands to Galway pilot Jarlath Conneely for an undisclosed sum.
The Sunday Times reports that documents filed with the Companies Registration Office show Aer Nasc, a company led by Conneely, acquired Galway Aviation Services, which trades as Aer Arann Islands.
Aer Arann Islands provides air taxi services from Connemara to the islands of Inis Mór, Inis Meáin and Inis Óirr.
The public service obligation flights are provided to visitors and islanders.
According to its most recently filed accounts, Galway Aviation Services made a loss of €133,200 in 2018, while retained profits were €1.5m.
O’Ceidigh, a former EY Entrepreneur of the Year, sold Aer Arann Teo, a separate company that operated flights under the Aer Lingus Regional brand, to UK operator Stobart in 2014.