I cannot accuse the posters above of being wrong, but some of the language is perhaps a little misleading.
From the gross income made by the contractors (pilots) limited company, you deduct any normal and approved expenses incurred. From the balance you pay income tax at the appropriate rate for your earnings (basically PAYE). The difference between my way of putting it, and posts above, is that it is not a "blanket" 30% (or any other percentage), but is calculated on income as is the case for any other Irish tax payer.
Wally.