Decade without commercial flights at Waterford Airport
A new Waterford Airport investment plan is being put to councillors next week, offering fresh hope for the future of the South East’s only airport. After more than a decade without commercial flights, runway limitations remain the key obstacle to restoring services.
Previous investment plan stalls despite Government pledge
Two years ago, the Comer Brothers, Galway-based investors, committed €12 million towards a €30 million runway extension and airport upgrade. Their investment depended on the Government matching the €12 million. Despite being included in the Programme for Government, business plans have gone back and forth without any progress.
New Waterford Airport investment plan with American backer
A new proposal will be presented to councillors next week, involving a fresh American investor stepping in to replace the Comer Brothers. The plan outlines major structural changes, including:
Liquidation of the current company running the airport.
Sale of the around 100 acres owned by the council to a new company.
Hosting of an extraordinary general meeting (EGM).
Local county councils relinquishing their minority shareholdings.
The new company taking over operations with financial guarantees.
Councillors, some of whom were informed today, are expected to receive a full briefing on Monday.
Uncertainty over council’s investment in Waterford Airport
It is not yet clear whether Waterford City and County Council will recover all or part of the money it has invested in keeping the airport open in recent years.
The outcome of the new investment plan could decide whether the airport finally secures the runway extension needed to bring back commercial flights and restore vital connectivity for the South East.
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