Council approves €450k in Waterford Airport funding to 'keep operations there'
Head of Ryanair, Michael O'Leary said last week that Waterford Airport "will never be a commercial proposition". Ironically, his comments come as Ryanair marks 40 years since its first flight, which took off from Waterford Airport.
Waterford City and County Council voted last week to provide funding of up to €450,000 towards Waterford Airport for operational costs, whilst the Board awaits a decision from Government in relation to an extension of the airport's runway.
Outlining the nature of the funding, Chief Executive of Waterford City and County Council, Sean McKeown said: "I'm recommending that the funding be provided by way of a capital contribution. We’d be asking for significant equity return in terms of shareholding. This council currently owns about 2% of the shares."
The decision follows a meeting last week with Department officials.
Speaking on the meeting, Mr. McKeown said, "First of all this council has been consistent in our position in relation to the airport, that it is a strategic infrastructure project, not just for Waterford but the entire region, and secondly, that the only commercially viable proposition for the airport is the lengthening and expansion of the runway. That’s consistently been our policy.
Mr McKeown continued: "It was discussed at our workshop that the position of the Department of Transport is now very clear, that the project must now go through the new public spending code and transport appraisal framework, which the first part of that process now is a new preliminary business case.
"We can assume and expect there will be a positive outcome to the process, but in the meantime the airport has to continue. There are two important services that are currently provided out there, the 117 rescue service and the flight training school. So funding is required to keep the operations there."
Although unanimously supporting the funding, councillors expressed concerns.
Cllr Joe Kelly said, "The ask here today is €450,000, which is a significant sum of money.
"If we weren’t to approve this, we’re at risk of services closing down, and if we do approve we have to commit the money from an already tight budget, so we’re between a rock and a hard place.
"For today, I will be voting to approve this money, but I have serious concerns that I might not be able to do so on another occasion if the airport were to come back again."
Head of Ryanair, Michael O'Leary said last week that Waterford Airport "will never be a commercial proposition". Ironically, his comments come as Ryanair marks 40 years since its first flight, which took off from Waterford Airport.
Responding to the comments, Mr. McKeown said: "I did see Michael O'Leary's comments but I've also seen comments he's made where he said he would operate aircraft out of the airport.
"It's depending on what day of the week it is and who he's talking to, his position is likely to change."
