Waterford Airport is one of four regional airports have been handed a
lifeline after Europe rubber-stamped State aid over the next four years.
Donegal, Kerry, Knock and Waterford Airports will now all be able to receive a slice of a €42.5
million government investment under the move.
The EU Commission approval paves the way for each airport to apply for the
critical funding.
Waterford Airport’s inclusion in the programme will
allow for the State to provide financial supports to the four regional
airports, over the lifetime of the programme.
Transport Minister Paschal Donohoe has said "Approval of the 2015-2019
programme will greatly assist the regional airports in working towards a
position of viability over the course of the programme".
The Minister however, has warned that, under European guidelines, the
regional airports will have until April 2024 to become self-sufficient as
financial support is to be axed.
"The level of funding provided in each year of the programme will be
determined on the basis of submissions from the airports, including five year
business plans, and the availability of exchequer resources in any one
year," he added.
"The formal approval permits Ireland to
provide financial supports to the regional airports, under the two main schemes
over the period 2015 to 2019.
Negotiations to allow for the State aid of Irish regional airports had been
ongoing with the past twelve months.
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