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April 20, 2021

Ireland allocates funding for regional airports

The Government of Ireland has allocated more than $13.2m (€11m) in exchequer funding for the country's regional airports.

The Government of Ireland has allocated more than $13.2m (€11m) in exchequer funding for the country’s regional airports.

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The regional airports in Donegal, Ireland West (Knock) and Kerry were given almost $5.76m (€4.8m) under the existing regional airports programme 2021-2025, with Donegal (CFN) getting $1.05m (€876, 525), Knock (NOC) $2.64m (€2.2m) and Kerry (KIR) $2.04m (€1.7m).

Shannon Airport (SNN) has been given more than $7.56m (€6.3m) under the Covid-19 regional state airports programme 2021.

Minister of State Hildegarde Naughton said: “This funding represents a strong commitment by the government to help Ireland’s regional airports remain financially sustainable as they plan to move beyond the largest exogenous shock that the sector has ever faced.

“I am pleased to say that this year’s funding has also taken climate objectives into account for the first time, representing an important step in the process towards the ‘greening’ of Irish Airports.”

The new funding will help in improving safety, security and sustainability.

It will help the airports in incorporating energy-efficient components and components that are recyclable at the end of their service life.

Under the Covid-19 regional State airports programme, Cork Airport (ORK) is also eligible for support and an application is now being evaluated by the department for funding a significant runway overlay project.

This year, about $24m (€20m) has been made available for air traffic control, fire services and security-related expenses.

Recently, further invitations have also been issued to eligible Irish airports under a separate Covid-19 Irish airports scheme.

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IPO activity all but stopped in 2020, as the investment community grew wary of the effects of COVID-19 on economies. No matter how deserving a business was of flotation, momentum was halted by concerns of when a ‘new normal’ of working patterns and trade would set in. Recently, sentiment has changed. Flotations picked up again during the second half of 2021, and now in 2022 the mood is decidedly optimistic. Business leaders have their eyes on fast rebounding economies, buoyant market indices and the opportunity once again to take their businesses public. As a result, global IPOs are expected to hit back this year. With GlobalData’s new whitepaper, ‘IPOs in Consumer and Retail: 5 must-include elements for your prospectus industry report’, you can explore exactly what is needed in the essential literature. GlobalData’s focus lies in the critical areas to get right:
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