Airport’s future ‘in jeopardy’ as BoI seizes €1.1m

Bank of Ireland has put the future of Galway Airport in jeopardy by seizing €1.1m from its deposit account to offset loans, even though repayments were fully up to date, Galway Chamber has said.

Declan Dooley, Galway Chamber president and a director of the airport, saidto make the move without informing the directors first was unprecedented and should be seen as an alarming development for businesses.

Galway Airport, which has loans from BoI and Bank of Scotland, has had a difficult year, with Aer Arann flights suspended for the winter and Government funding withdrawn. Mr Dooley said the airport had set about reducing its costs and developing a sustainable business plan and the banks had been kept in the loop.