Kelcy Warren reportedly invests €30m to redevelop Waterford Airport

US billionaire Kelcy Warren has reportedly invested €30m in Waterford Airport through a newly formed company that will own and operate the airport and its assets.

The deal has received approval from the airport’s shareholders and Waterford City and County Council, with formal completion expected imminently.

Mr Warren, executive chairman and co-founder of Energy Transfer, has an estimated net worth of $7.1bn (€6bn). Energy Transfer operates more than 200,000km of oil and natural gas pipelines in the United States and is listed on the New York Stock Exchange with a market capitalisation of $56bn. He also owns Castletown House and Estate in Co Kilkenny, reflecting his ongoing ties to Ireland.

The redevelopment plan will extend and widen the airport’s runway to accommodate larger commercial jets, alongside other infrastructure upgrades. Construction is expected to commence shortly and take around 12 months to complete. Scheduled passenger services are anticipated to resume by the end of 2027.

The business plan anticipates that Waterford Airport could handle up to 400,000 passengers annually within five years, restoring its role as a regional gateway. The investment requires no government funding, following the satisfaction of a previous charge held by the Minister for Transport over the former airport company.

Local businessman William Bolster has partnered with Mr Warren to advance the project. Waterford Airport has not had scheduled services since 2016, when Ryanair operated its last commercial flight to London Gatwick.

Discover full details of the investment and redevelopment plans at Waterford Airport in the complete story.

Photo credits to Waterford Airport’s official website