Junior Transport Minister, Hildegarde Naughton TD has re-affirmed the government's commitment to providing funding toward Waterford Airport, should pre-agreed conditions be met.
Speaking to Newstalk's Aoife Kearns, Deputy Naughton said that it is in the government's best interests that the runway at Waterford Airport is extended, paving the way for the return of commercial flights from the county for the first time since 2016.
"I recently visited Waterford Airport, and I stated that the commitment to fund a new runway for Waterford is there. There are a certain number of obligations and criteria that the Airport has to meet around investment. They must lay out a business case as well in relation to that. Certainly, the commitment is there to support Waterford Airport - and I look forward to seeing their plans, and the business plan around that."
Two billionaire brothers from Galway have reportedly agreed a €20m deal to buy a majority stake in Waterford Airport.
A recent report in the Irish Independent outlined that Luke and Brian Comer's acquisition of the stake will include a significant investment programme set to start almost immediately.
It’s understood that Waterford Airport has already initiated project work for a new runway extension as it seeks to restart scheduled commercial services.
Waterford Council have confirmed that discussions are ongoing with potential investors and legal agreements are being drawn up, but have not been executed.
Any investment proposal will be subject to Government support towards capital expenditure and subject to the approval of Waterford City and County Council and the shareholders of the company.
Deputy Naughton says that an investment programme is part of the pre-agreed criteria, and again re-iterated her excitement at viewing the plans in store.
"This again was part of the criteria which was needed for government funding to be provided. I look forward to seeing the ambitious plans of Waterford Airport and working with the local authority and the airport authority in relation to their plans - but we have yet to see that."
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