US investor pledges €30 million for airport in the South East

Ireland South MEP Cynthia Ní Mhurchú, a member of the EU Transport committee, has welcomed a landmark private investment proposal that would secure the long-term future of Waterford Airport and deliver a major boost to the economic development of the entire South-East region.

Speaking ahead of yesterday’s meeting of Waterford City and County Council, Ní Mhurchú urged councillors of all parties to unite in support of the €30 million investment package being proposed by Waterford Airport Ltd (WAL).

Describing the plan as “a significant breakthrough for the airport and the Southeast”, Ní Mhurchú said the proposal would ensure the airport’s redevelopment and continued operation as a vital regional infrastructure asset.

“This investment has the potential to transform connectivity and economic opportunity across the Southeast. I am calling on all councillors and stakeholders to come together in support of this once-in-a-generation opportunity for Waterford and the wider region.”

According to the Irish Times, the investor is a “mystery investor” from the US. Local councillors were not informed of the identity of the investor in advance of the vote to approve the investment.

Ní Mhurchú has committed to exhausting all EU sources of funding to bolster operations at the airport in the long term but will also be calling on her colleagues in government to include Waterford airport in the Regional Airports Programme going forward, ensuring that the airport and related local infrastructure receives sufficient funding.

Speaking to Wexford Weekly Ní Mhurchú said she has also vowed to sit down with representatives of Airports Council International – whom she has a working relationship with, and airline associations and airlines across the EU to promote Waterford airport as a destination from which to operate.