The EU Commission has approved Ireland's plans for investment in regional airports, allowing the Department of Transport to directly support four airports over the next decade.
It means that a maximum of €42.5 million in State aid will be made available to the airports at Kerry, Knock, Donegal and Waterford over the next four years.
They have until 2024 to become self-sufficient before the investment scheme is stopped. The Minister for Transport, Paschal Donohoe, said that the approval of the investment scheme will help the regional airports to become financially viable in the future.
"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," the Minister said.
"In addition to the financial supports … the Exchequer will also provide financial assistance to the regional airports for those costs associated with Public Policy Remit requirements."
The four regional airports will now be able to apply for State aid in submissions to the Department of Transport.