Group of investors buy majority stake in Weston Airport

A GROUP of investors, which includes tech entrepreneur and aviation enthusiast John Collison, has bought a majority stake in Weston Airport.

The news was first reported by The Currency on Tuesday morning, which stated the group intends to upgrade facilities and to develop Weston as a general aviation centre.

Derick Walshe, a Limerick-based financier, leads the group of investors including Stripe founder Mr Collison, John Brennan, Catherine Greene and Gerald Dundon.

The investment plan will modernise facilities at Weston to create a best in class experience for airport users, employees and the local community.

Bar, restaurant and conference facilities will be enhanced and improvements will also be made to the terminal, aircraft storage and hangar areas. All current staff will be retained and it is envisaged that additional employment could be created for the local area as new services are introduced.

Derick Walshe said a vibrant Weston is central to the health of general aviation in Ireland.

“Our investors are aviation enthusiasts who are focused on turning Weston into a state-of-the-art facility. Our plans are to invest in and upgrade the existing aviation and non-aviation facilities and to create a destination that is open and welcoming to the local community.”

The completion of the transaction is conditional on due diligence, binding documentation and regulatory consents.

General & Business Aviation coupled with Flight Training will continue to be the primary focus of the investors and current owner.

Weston Airport was established in 1931 by Darby Kennedy.

Developer Jim Mansfield bought the airport in 2002 from Captain Darby Kennedy.

In 2013, Brian Conneely paid €3.5 million for the airport, when it was sold by a receiver to the business empire of the late Jim Mansfield.