Construction News

07/02/2008

Airstrip Land Depreciates By €125k

The land used for an airstrip at Clifden Airport has been sold at a €125,000 loss, new accounts have revealed.

More than 150 local shareholders were involved in the set up to develop an airstrip in rural Galway.

These included Aer Arann, Galway hotel Renvyle House, SuperValu owner Noel Kavanagh, PR executive James Morrissey, former Galway GAA sponsor Tommy Varden and Clifden & West Connemara Airport Company.

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The project shot to prominence following the crash landing of a light aircraft carrying several of Clifden Airport’s backers. Local accountant Paul McNamee and pilot Matt Masterson were killed and several others were injured.

A matter of hours before the flight had taken off, the backers had signed a deal which transferred 14 hectares of their land to the Department of Community, Rural and Gaeltacht Affairs.

Latest accounts for the airport company have revealed the land has depreciated by around €125,000 from its original sale price of €500,000.

(JM)

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