Galway Bay fm newsroom – Glenamaddy brothers Luke and Brian Comer have agreed to pay €20m for a majority stake in Waterford Airport.
The deal ends a long period of uncertainty for the airport, which hasn’t operated scheduled commercial services since 2016.
Waterford Airport is the latest addition to a massive property portfolio worth an estimated €1bn, that stretches across Ireland, the UK and mainland Europe.
According to the Irish Independent, the deal is a major coup for the region and a strong vote of confidence in the regional airport.
The acquisition price is said to include a significant investment programme, which is expected to begin almost immediately.
It’s reported that works have already started on a new runway extension as the airport looks to restart scheduled commercial services.
It’s further understood that Ryanair and Aer Lingus Regional will be among those approached to launch services from an improved and expanded airport.