The CEO of Waterford Council has admitted he is not entirely certain that news regarding the future of Waterford Airport will be positive.
That's the message from Waterford Council CEO Michael Walsh in relation to Waterford Airport.
It's hoped that the business case for Waterford Airport will be presented to the government in the coming weeks but confirmation of investor funding is still awaited.
"The situation hasn't moved on", Mr. Walsh outlined. "The airport needs €25m of investment - we are actively still talking through the main shareholder to the investors. We haven't got their final decision."
"It is imminent", he continued. "I will be coming back to the Council immediately once I know more. We're not entirely certain that it will be a positive decision, but we're hopeful - is the way I would put it."
An investment by Galway-based billionaires, the Comer Brothers, could pave the way for the return of commercial flights from Waterford for the first time since 2016.
The investment is likely to see work begin on a runway extension and other developments to the airport such as a solar farm.
The Comer brothers from Galway have reportedly agreed to a €20m deal to buy a majority stake in Waterford Airport.
It’s understood that Waterford Airport has already initiated project work for a new runway extension as it seeks to restart scheduled commercial services.
The Government has pledged €5m towards the runway bill, while the three local authority co-owners, Waterford, Kilkenny, and Wexford Councils - have agreed to stump up €2m.
"There's a business case confirmed and ready to go", confirmed Mr. Walsh. "It'd be important that that business case is formally submitted but we can only do so with confirmation of investor funding."
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