The cost of extending the runway and redeveloping Waterford Airport now stands at €27m, as the business case has been described as 'fragile'.
A special meeting of all 32 Waterford councillors was held at City Hall where representatives were briefed on the current status of the business case for the long-awaited project.
Business forecasts from the private investment group, carried out by Grant Thornton, have outlined that Waterford Airport is currently making an annual loss of €300,000, and that annual passenger numbers would need to exceed 300,000 to see any potential profits.
At the height of its success with London and Luton services, passenger numbers at Waterford Airport never exceeded 150,000 passengers.
The development proposal was unanimously adopted by representatives yesterday, being proposed and seconded by current Waterford Airport board members - Cllr. Jim Griffin (Sinn Fein) and Cllr. Jody Power (Green Party).
Cllr. Griffin spoke on Deise Today this morning, and agreed that the situation is indeed fragile.
"It is fragile, that is down to both government and I suppose ourselves on the board trying to put a proposal and to get a proposal together. I have to say we went everywhere and anywhere we could to get investors. We're happy with the investors we have now. I think what we have on the cards is good for Waterford, it's good for the South East and I think the government really should stand behind us now with this proposal. I have seen and I've been informed on some of the questions that came back from the government. Like Michael Walsh said yesterday, it was 100 questions plus. There was a lot in it, a hell of a lot in it. Some stuff, I would go as far as saying it's very hard for us as an airport board to answer until they give us the funding to allow us to answer some of those questions."
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