Waterford Airport say they welcome the review requested by the Minister for Transport Shane Ross.
Business advisory group, EY, has been appointed to assess the future of the Airport, which has now been without a commercial passenger carrier for nearly two years.
The Airport has received €375,000 in state funds to support the Coast Guard Search and Rescue Service while the airports prospects are examined.
The Irish Examiner reports that the EY review is under way after Transport Minister Shane Ross ordered an independent consultant to examine the options for the Airport last month.
In a statement Waterford Airport say the review will give them the opportunity to present options within which the airport can serve the South East region.
The Board say an extended runway, facilitating larger aircraft, is vital to the future sustainability of the airport and is exploring all options to secure investment for this.
The Airport Company reiterated it's commitment to the delivery of appropriate regional air services and the continuation of the Sea and Air Rescue Services.
