Galway brothers, Luke and Brian Comer have agreed to pay €20m for a majority stake in Waterford Airport.
The deal ends a long period of uncertainty for the airport, which hosted the inaugural Ryanair flight in 1985 but hasn’t operated scheduled commercial services since 2016.
Waterford Airport is the latest addition to a huge international property portfolio worth an estimated €1bn.
According to the Irish Independent, the deal is a major coup for the region and a strong vote of confidence in the regional airport and its potential to serve the south-east.
The acquisition price includes a significant investment programme at the facility, which is expected to begin almost immediately.
It’s reported that construction has already started on a new runway extension as the airport looks to restart scheduled commercial services.
