A multi-million pound funding package from Stormont to support City of Derry airport is expected to be announced in the next few days.
The airport is on the financial ropes after Ryanair announced yesterday it was pulling its Derry to London service from March 27, 2017.
It is also ending its summer service to Faro, Portugal and cutting its flights to Liverpool to twice a week.
SDLP leader Colum Eastwood has called on the Stormont Executive and the Irish Government to intervene and financially support the North West regional airport.
Earlier today, deputy first minister and Sinn Fein Foyle MLA Martin McGuinness appeared answer Mr Eastwood’s call for Stormont help.
He hinted in a tweet that the Executive would step in to save the City of Derry Airport.
Now John Kelpie, Chief Executive of Derry and Strabane District Council, has told BBC Radio Foyle that discussions on the funds are at an “advanced stage” and could be announced in the “coming days”.
The funding would establish a route development fund at the Derry airport.
Mr Kelpie said the Stormont funding had received the backing “at the highest level” and enjoyed cross-party support.
“We are talking days rather than months for an announcement,” he said
The airport is currently also exploring the option of operating government funded public service obligation (PSO) flights to London.
Mr Kelpie said the PSO application was being treated “very favourably” by the Department of Transport in London.
He said that if all “the pieces line up” a new airline will be offering a twice or three times daily flight to London as of April 2017 when Ryanair cease its service.
The Derry airport is currently running at a £2.145m loss per year, paid for by local ratepayers.
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