Doubts over funding for Waterford Airport 

Waterford Airport has not had a commercial flight since 2016.

Doubts have emerged over multi-million funding for Waterford Airport, after an investor said he has had “no involvement” with the company in over a year.

Housing developer Noel Frisby was previously part of a consortium of local companies ready to invest €5m to build a runway extension at the airport. 

Speaking to local radio WLR, he said: “I have had no involvement with the airport for over 12 months and would have no knowledge of any funding or developments taking place.” 

The news comes ahead of this Friday’s decision from planners on the approximately 900m extension to the runway at the airport, which has not had a commercial flight since 2016. 

It is hoped the runway extension would attract commercial carriers for the airport, which has been receiving emergency Government funding to continue operating in recent years.

In 2019, the Department of Transport said it would provide €5m for the runway extension – but only if matching funding was raised by the airport.

It was understood that a so-called ‘local consortium’ of companies in the region had been brought on board to help fund the €12m development. Local councils in Waterford, Kilkenny and Wexford are to provide the remainder of the money.

Key to the original funding plan was that the private backers, including Mr Frisby, would take a future equity stake in the airport. However, it is understood the board of the airport has been in talks with other investors over the past 15 months, but without success to date.

The largest shareholder in the airport, William Bolster, said discussions with potential investors are at a "very sensitive" stage and stressed he was “committed to driving on” the airport, and declined to comment further.

No comment was given on private investment by the general manager of the airport, Aidan Power, who told WLR that stakeholders such as the Irish Coastguard have been able to continue operating out of the airport during the pandemic.

“The work on the runway development continues. The associated planning application is currently in the planning system, and the airport is awaiting the outcome of this and other processes to move the project forward.” 

None of the three local authorities commented when contacted. The chief executive of Waterford City and County Council, Michael Walsh, said he would not comment as he sits on the airport’s board, which is to meet to discuss investor options on Thursday.