Euroceltic Airways was a short haul airline, founded in 1999 by Diran Kazandjian and taken over by businessman Noel Hanley, the CEO of Global Ocean Technologies Ltd in 2002. It was given its Air Operator's Certificate on 12 February 2001.
During the period 2001 - 2002, the Euroceltic management team made many ambitious plans for expansion. These plans included either merging with or taking over Danish airline NewAir, creating new routes from Waterford Airport to other parts of Europe, and even a multi-million pound investment at Waterford Airport.
However, Euroceltic struggled to find a niche in the European airline market. The downturn in the airline market as a result of the 9/11 terrorist attacks in the United States only made things worse.
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... The accident was the final nail in the coffin for Euroceltic Airways, and the airline eventually returned losses of €1.1 million ... Euroceltic had its Air Operator's Certificate revoked by the Civil Aviation Authority and consequently ceased all operations on 21 January 2003, with the loss ...