William Bolster on naming of Waterford Airport investor: 'It was inevitable, sure it’s Ireland'
William Bolster, spoke to the News & Star following reports naming US billionaire Kelcy Warren as the €30 million investor behind Waterford Airport. Photo: Hugh Dooley
On Tuesday, January 6, reports from the Irish Independent and Irish Times named Waterford Airport’s then-anonymous investor as US oil billionaire Kelcy Warren.
Mr Warren has pledged to invest €30 million into the airport - a sum that would see the Airport’s runway doubled in the hope of attracting commercial flights following a 10-year hiatus.
A key tenet of the deal to secure Mr Warren’s investment was an NDA signed by William Bolster, the largest shareholder in Waterford Airport and Waterford City and County Council Chief Executive Sean McKeown.
The NDA sought to guarantee that Mr Warren wouldn’t be publicly named.
His identity remained out of the public realm as Waterford City and County Council voted to dispose of the airport lands (valued at €2.3 million) to the anonymous investor in October for €50,000.
In December, shareholders, including Mr Bolster with 270,623 shares, agreed to dissolve their stakes in Waterford Regional Airport Plc, the company that had governed the airport since 1981.
Speaking to the William Bolster said the naming of the investor will not impact plans to extend the Airport’s runway.
“I would prefer that it didn't happen. But I suppose there's nothing we can do about it really.
“Of course it was inevitable, sure it’s Ireland… I suppose in some ways we did well to get as far as we did get.”
Mr Bolster said he is still tied to the NDA, meaning he cannot personally confirm if Mr Warren is the investor behind the airport.
Mr Warren (70) is the founder and Executive Chairman of Energy Transfer LP, a midstream company that was founded as a Texas gas pipeline operator in 1996.
Bloomberg’s billionaire index values Mr Warren’s net worth at $8.26 billion, placing him as the 438th wealthiest person in the world.
Energy Transfer LP currently operates over 135,000 miles of pipelines with assets in 44 of the US’s 50 states.
Mr Warren has long clashed with environmental activist group Greenpeace. In March, he won a $660 million defamation lawsuit against Greenpeace in relation to protests over a gas pipeline in North Dakota.
Mr Warren is a prolific supporter of U.S. President Donald Trump and the Republican Party.
Data from American political finance tracker Open Secrets show Mr Warren donated $12.5 million to pro-Donald Trump Political Action Committees (PACs) during the 2024 election cycle, while Energy Transfer donated a further $19 million.
Mr Warren’s property portfolio includes a private island in Honduras and a $46.5 million ranch in Colorado. As of 2024, he lived in a 23,000-square-foot home on an eight-acre estate in Preston Hollow, Dallas.
In 2018, he bought the Castletown Cox estate in Kilkenny for €12.6 million. The estate is a 40-minute drive from Waterford Airport.
In August, planning permission was sought to build a private whiskey distillery at Castletown Cox. Developers Rosebrack Ltd framed the project as “a legacy project” for the estate.
Planning permission for the project was granted in January.
Speaking on WLR FM’s Déise Today in October, director of Waterford Airport Ltd William Bolster said he had met with the investor - though he didn't name him - both in Ireland and the United States.
Energy Transfer LP did not respond to requests for comment.
Reports from The Times and The Guardian have identified Mr Warren as being the owner of a Boeing 737 and a Dassault Falcon 900 jet.
A B737 typically requires a runway of 1,800 to 2,400 metres for normal operations. Waterford Airport's runway currently measures 1,433 metres in length, but the planned extension would potentially double that.
Mr Warren is expected to assume control of Waterford Airport Ltd, the new company overseeing the airport.
Currently, Mr Bolster is listed as the sole director of Waterford Airport Ltd.
Mr Bolster said to the News & Star that while contracts have been signed with the investor, they have yet to be closed and finalised. Mr Bolser said the runway’s extension is expected to begin in 2026 Q1.
One barrier that could hinder the advancement of the airport is Mr Warren attaining FDI (Foreign Direct Investment) approval, a screening process that could take up to 90 days.
Independent Councillor Declan Barry, who sits on the board of Waterford Airport, said the FDI screening process began in mid-December.
A further EGM also needs to be called, which will see the formal dissolution of Waterford Regional Airport Plc. A minimum of 21 days is required to alert stakeholders to an EGM, with notice not yet been issued.
Bolster Group, the construction company founded by Mr Bolster's father, Billy, will handle the extension of the runway, which is to be doubled in length and width.
The road bordering the airport will also be lowered, with costs estimated at €800,000 - costs that will be split evenly between Waterford City and County Council and Mr Warren.
Anti-embarrassment clauses built into the contract between the board and the investor provide that if Waterford Airport Ltd disposed of the land within seven years, 50% of realised net profit would go towards the council.
Mr Bolster said no provision for commercial flights exists because the airport cannot legally flex control over the private market.
He said that he will still remain actively involved in the airport after the runway is completed.
“We're fully in the game,” he said.
“We're going be running the airport going forward and so on. We've already started talking to airlines, and will do all of this parallel to getting the runway done.”
Mr Bolster has described the extension as “a year project”. Previous estimates for when commercial airlines could return to Waterford Airport stood at the summer of 2027.
Speaking to the following the reports naming Kelcy Warren as the airport investor, Cllr. Barry said he still remains optimistic about the deal.
He reiterated the stance taken by the majority of Waterford councillors - that an anonymous private investor was the only solution to Government’s inaction over Waterford Airport.
A previous investment commitment had been secured from the Comer Group, who had promised to inject €12 million into the airport, provided the investment was matched by Government. With no commitment secured from Government, the Comer Group involvement subsequently ceased.
In July 2025, the Department of Transport requested an additional business plan for Waterford Airport following a run of stalled negotiations.
Mr Warren came into the picture soon after.
“I'd really like that to get across, how disappointed I am… how let down I feel by the government,” said Cllr. Barry.
“We are awash with money now, absolutely, putting away billions for rainy days, billions… and then we can't get a measly €12 million.
“I’m a bit of a gambler overall, so I am willing to take this chance.”
