A financial package has been put in place to guarantee the future of Waterford Regional Airport, which was on the brink of closing last week.
The airport has now been placed on a sound footing for the next three years, by which time it is expected to be profitable, its chairman, Dr Cormac Macnamara, said yesterday.
Directors postponed a decision to close it last week, following the intervention of Waterford Corporation, which came up with the £35,000 it needed to stay operating for a month. The new package will be funded by the Government and local interests, but details will not be announced until later.
Staff have agreed to implement flexible work arrangements from early summer, when the number of flights in and out of the airport is to increase. The 36 workers had been on protective notice.
Euroceltic Airways, which began a daily service to London from Waterford last month, is to begin a second service in the next six to eight weeks.
