Grant cuts led to €6m losses at local airport
Galway airport had a loss of €6m after the Government decision to end subsidies, new figures show.
Last year, the Transport Minister Leo Varadkar announced the ending of the airport's annual operational grant on the Dublin route.
The move -- along with Aer Arann ending its routes out of Galway -- resulted in scheduled services ending at Galway airport last year.
In spite of the collapse in traffic, the directors of Corrib Airport Ltd, which operates the airport, state in their 2011 accounts that they are "exploring all avenues to secure the future of Galway airport" and "to maintain air access into Galway".
The €6m loss arose from writing down the value of the runway and buildings.