Formal approval is expected to be granted by the High Court this morning (Friday) allowing Aer Arann to exit examinership.
Ms Justice Mary Finlay Geoghegan will be asked to set next Wednesday as the “effective date” for the airline to return to normal training.
Ms Finlay Geoghegan has given her approval, in principle, to the Scheme of Arrangement proposed by Examiner Michael McAteer of Grant Thornton.
Approval of the scheme effectively safeguards over 500 jobs – 320 directly with Aer Arann, and an additional 200 at Irish airports.
The announcement is welcome news for Waterford Regional Airport who rely heavily on the Irish airline.
Commenting on the news, Aer Arann Chief Executive Paul Schutz said: “This is a good day for Aer Arann and we are now very well positioned for the future.”