WATERFORD AIRPORT HAS received a bid of €30m in funding from a private investor that would allow it to bring commercial flights back to the airport, if approved.

The city and county council received details of the proposal today. 

It would provide the funding for the full development of the airport, as outlined in a 2023 business plan submitted to government, meaning the airport would no longer need state funding to expand.

The works include runway extension, terminal upgrades and facilities to support the return of commercial passenger services. The proposal also provides for the retention of existing airport staff and the continuation of the search and rescue service contract.

The council’s airport related assets would transfer under the investment proposal to the new investor.

Waterford Airport is the only airport in Ireland’s south-east. In 1982, the airport was granted a licence to allow for international flights, which it partook in up until 2016. In 2008, the airport reached 100,000 passengers after upping its offerings with flights to Bordeaux, Faro, and Malaga.

However, the diminishing number of airlines that operated from the airport withdrew, ceasing all commercial flights. 

Irish Coastguard helicopters, search and rescue aircraft, and aircraft for some businesses continue to use the airport. It provides aviation facilities for local and visiting organisations, including the Irish Aer Corp.

The Bolster Group, an enterprise group of which the executive director is a board member of Waterford Airport, said it had secured the funding from a private backer, pending council approval.

William Bolster said, “It is fantastic to have such private funding in place, removing the need for government money and allowing immediate construction to start. I urge the Council to seriously consider this monumental opportunity for Waterford and the South East.”

The group said if the development is approved it will boost tourism, create employment, and strengthen the region’s economic competitiveness. 

“If granted approval, construction work would be scheduled to begin imminently with the extended runway designed to accommodate modern commercial 180 seat jet aircraft and restore regular passenger services to the region,” a statement from the group said, heralding the proposal as a major breakthrough after struggling to obtain government funding for years.

The proposal is to be considered by members of Waterford City and County Council on 17 October.