A deal involving US billionaire Kelcy Warren to invest €30m in Waterford Airport is nearing completion. The investment upgrades the facility without government funding. A new company to own and run the airport and assets will fall under Mr Warren’s control.
He partners with local businessman William Bolster. Shareholders and Waterford City and County Council approved the deal. The transaction, believed signed, formalises in days. Mr Warren owns Castletown House and Estate in Co Kilkenny, bought for over €12m in 2019.
The Texan holds the largest stake in Energy Transfer, with a net worth of €6bn. He co-founded the company in 1996, serving as executive chairman.
The firm operates over 200,000km of pipelines, and is listed on the New York Stock Exchange with €50bn market capitalisation. He donated millions to the Republican party, including €11m to Maga Inc last year.
Required upgrades include a runway extension and infrastructure to attract commercial operations. Works will commence soon and take 12 months to complete. The longer, wider runway will handle A320 and B737 aircraft, enabling full Aer Lingus and Ryanair services.
Waterford Airport has not had any scheduled services since 2016.
