€30million in private funding for Waterford Airport would mean no government funding needed 

Government funding may not be needed to fund the extension of the runway at Waterford Airport.

That is according to the Bolster Group, which says it has secured €30 million private funding package.

Waterford City and County Council has to approve the extension project, and councillors are set to consider the proposal shortly.

Executive of the Bolster Group, William Bolster, is urging the council to approve the deal.

"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,” said Mr Bolster.

Councillors are to be briefed on Monday, October 6 and will vote at the October plenary meeting on the 17th.

The Bolster Group say that if approved, the investment could mean commercial flights reinstated in Waterford.

If granted approval, the Bolster Group says construction work would be scheduled to begin imminently.

The extension of the runway will accommodate modern commercial 180-seat jet aircraft and restore regular passenger services to the region.

This development follows a long campaign to get government funding to enable the extension.

The Department of Transport was to consider a preliminary business case before investing, but this funding could potentially make that process unnecessary.

CEO of Waterford Chamber of Commerce, Gerald Hurley, said that this is great news for the South East region.

“This is a pivotal moment for the South East. The development of Waterford Airport would be a catalyst for growth, enhancing tourism, improving regional connectivity, competitiveness and confidence.

“It would also open new opportunities for investment and projects such as offshore wind energy across the region. 

"The investment shows what is possible when we come together with ambition, passion and focus. If we get the go-ahead, it will send a clear message that the South East is ready to grow and lead on a national stage,” said Mr Hurley.