Galway Airport managers secure stay of execution for three months

The management of Galway Airport, which just a week ago had been on the brink of closure due to the actions of Bank of Ireland, has secured its survival at least for the next three months.

At the start of February, it emerged Bank of Ireland had seized €1.1m from the airport’s deposit account to offset loans, even though repayments were fully up to date. At the time, management warned if the move was not reversed, it would no longer be able to trade as a going concern.

The board had been in the process of identifying potential buyers/ investors who could save the facility.