A no-nonsense guide to the new Waterford Airport proposal and the council vote
Waterford Airport
On Monday, Waterford City & County Council are due to discuss the issue of Waterford Airport.
A report from Chief Executive, Sean McKeown will be presented at the meeting.
For most people the burning issue is what is going to happen and when will the public be able to fly out of it.
By now, you have possibly seen the proposal to be put to Waterford councillors on Monday, making the rounds on social media.
The hefty 2,122-word document is an exhausting read for even a journalist invested in the story.
The Waterford News and Star have gone through the report, cut through the jargon and here is what you need to know.
The council owns about 84 hectares of airport land at Killowen and Ballygarron.
Seventy-eight of that is leased to the airport, and a further six hectares came from a compulsory purchase a few years ago to facilitate the runway extension.
It is proposed that land will be sold to the new company for a tiny fraction of the €2.295 million it's worth, for just €50,000.
If a sale is not possible for "technical legal reasons" then a long term lease at a nominal rent will be considered instead.
The reason for this is the good of the region, the report says.
You want a fully functional airport, this mysterious new investor wants to fund one and Waterford and the South East need one.
The airport is in financial trouble and there isn't a better alternative.
This may or may not need to be approved by the Minister for Transport.
That is the same Minister who was supposed to be deciding whether the Government would invest in the airport development themselves.
This would mean an end to the will-they-won’t-they saga of exchequer funding.
But that is not all.
If agreed on Monday, the council will foot half the cost of alteration works on the R708 public road needed to meet the Irish Aviation Authority licensing requirements.
The total cost of the works are €800,000 and planning permission will not be needed.
Commercial rates will be capped (or reduced) while the runway extension is complete and private flights as well as pilot training will not be possible affecting the income to the airport.
And the council will waive the repayment of the €670,000 they have given the airport.
The details of how this came about are a closely guarded secret, but we do know from the documents released by the council to us that in August this year, Devin Regional Investments Ltd pulled out of their agreement to put up funding for the airport.
They reportedly cited uncertainty around Government funding, leaving the future of the airport in doubt.
Devlin Regional Developments is a partnership between The Comer Brothers and the Bolster Group.
This departure led to the new investor, who we now have confirmation is American, jumping in and saving the day to the tune of €30 million.
Now, a newly incorporated company, called Waterford Airport Ltd (WAL) has been set up.
According to Solocheck, WAL was set up on Tuesday, August 12, 2025, and has a partial address at Heathfield House, Newtown, Tramore.
The council report says under the terms of this proposal, WAL commits to: Develop the airport according to the business plan and the existing planning permission; Fund the project - Take on the debts and liabilities of the existing airport company, except what’s owed to Waterford City & County Council.
The council report says “the Board of Waterford Regional Airport plc unanimously accepted the terms of the investment proposal at their meeting held on 29th September, 2025” and an EGM is now needed.
But this will also mean all staff at the airport will keep their jobs, the Search and Rescue service will be able to stay, as will the pilot academy.
But the identity of the investor must remain confidential.
This suggests we may never know the name of the airport’s guardian angel.
The short answer: an anti-embarrassment clause.
According to the council report, the majority of the land will be restricted to aviation-related purposes for 50 years.
And if WAL disposes of the land within seven years, half of the net profit will go to the council.
The majority of the lands will be restricted to aviation-related uses for a period of 50 years.
That is yet uncertain.
But the document says the works will take 12 months to complete.
Previous reports have said that planning permission is already in place and work can start shortly.
But despite how this sounds, this is far from a done deal.
Since the council own the land, they now must dispose of the land.
Disposal of land is a really common procedure at the council, and it just means that the councillors agree to transfer the ownership to someone else.
What makes this situation different is the amount of money being waved, capped and contributed by the council.
But according to the Chief Executive Report, an airport will mean the development of tourism, jobs, investment in the South East, community gain and certainty for the vital services operating from the airport.
As well as that, the council has taken a certain amount of financial responsibility for the airport up to now and this would essentially phase that out.
According to the report, the council gave the airport €300,000 in 2023, €370,000 in 2024 and €150,000 to date in 2025, towards operational costs.
The Chief Executive appears to see this as an investment in the future of Waterford.
But come Monday, it will be up to Waterford’s councillors who ultimately represent you in this marriage of convenience.
If you have your doubts, speak now or forever hold your peace.
