A major announcement is expected tomorrow regarding the future of Waterford Airport.
No commercial flights have left Waterford Airport in the last seven years, but a long-awaited runway extension could pave the way for their return.
Waterford Airport opened in 1981 with its first scheduled flight four years later by Ryanair.
Ten years ago, it was reported that a 150m extension of the runway would be funded by the Department of Transport.
Various airlines used the airport but in June 2016 VLM ended its London/Luton service, leaving Waterford Airport since then without any scheduled traffic.
Recent Developments
Last year, planning permission was granted for a runway extension and associated works but private sector investment has been slow in arriving.
In 2022, The Board started talks with the billionaire Comer brothers from Galway to buy a majority stake in the Airport.
Intensive talks have been ongoing but have now reached what appears to be a successful conclusion.
This Friday, The Minister for Finance, Michael McGrath is due in Waterford to make what’s been described as a big announcement.
According to reports by WLR, it is understood that around €12m is to be invested from the private sector, with matching government funding not yet approved - but it will be looked on favourably.
Local councils will also be asked for contributions, possibly bringing the overall investment over time to close to €30m.
All will be revealed on Friday.
New Waterford Airport Owners
In August 2022, Beat reported that Galway-born billionaire siblings the Comer Brothers had agreed to pay around €20 million for a majority stake in Waterford Airport.
The Comer brothers have acquired and developed a sizable portfolio including Berlin's Die Pyramide, London's Alexander House, and Palmerstown Estate in Ireland.
The regional airport hasn't operated commercial flights since 2016 and the additional funding was likely to progress plans for the construction of a runway extension.
According to the Independent, a significant investment programme was included in the acquisition price.
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