ENTREPRENEUR John Collison is part of a group of investors who have purchased Weston Airport in Dublin.
Born in Tipperary, Mr. Collison, who founded global payments giant Stripe – now valued at nearly $ 100 billion – with his older brother Patrick in 2010, is an avowed aviation enthusiast.
The investor group that bought the airport, which is widely used for flight training and is home to a number of flight clubs, is said to be led by Limerick-based financier Derick Walshe, and also includes John Brennan, Catherine Greene and Gerald Dundon.
The Currency reports that investors plan to upgrade facilities at the airport, located between Leixlip and Lucan.
The transaction is subject to the completion of due diligence and regulatory agreements. Details of the transaction were revealed in the currency.
The consortium’s investment is expected to see improvements to the airport bar, restaurant and conference facilities, with further improvements to be made to the terminal, aircraft storage and hangar areas.
All current staff at the airport, which was established in 1931, will be retained under the agreement.
âOur plans are to invest in and modernize existing aviation and non-aviation facilities and create an open and welcoming destination for the local community,â Mr. Walshe said.