Economy Minister to take over Derry & Strabane's £3m subsidy for airport every year

The rolling funding confirmed by the Minister will mean Derry & Strabane Council and ratepayers will no longer have to fund a subvention for the Eglinton facility.

The Minister said: “This announcement is great news for the North-West and is another example of my commitment to regional balance. It will enable the airport to plan for future growth in the years ahead.

“The airport serves more than the Derry City and Strabane regions. It plays a vital part in the economic development of the entire North-West.

“The funding will enable Derry City and Strabane District Council to use the Council funds it previously provided the airport, towards supporting the North-West’s ongoing competitiveness and ability to trade, attract inward investment and inbound tourism.”

Steve Frazer, Managing Director at City of Derry Airport said: “Today’s announcement is pivotal for the future stability of City of Derry Airport to continue serving as key infrastructure connecting people to and from our North-West gateway. This announcement ensures we are well placed to continue supporting the regions ambitious growth plans and our continued contribution to the region’s economy.”

Mr Frazer thanked Minister Archibald and her predecessor Conor Murphy for recognising the value of CODA’s contribution, and recognised the decades of support from Derry City and Strabane District Council “which has allowed the airport to continue providing connectivity and contributing to economic growth for all areas across the North-West.”

The Mayor Lilian Seenoi Barr said: “This four-year funding package very substantially reduces the financial burden from Council and local ratepayers and provides the airport with stability to allow it to fully realise its potential as a key economic driver for the North-West region.

"The City of Derry Airport is a critical infrastructure asset that provides connectivity and is fundamental to business and tourism in the area. I want to acknowledge and welcome the Government’s recognition of the strategic importance of the Airport to the city and region in terms of the significant role it plays in economic connectivity and providing local employment.”