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The Stormont Executive hopes to take over the cost of running City of Derry Airport from April of next year, the economy minister has said.

Earlier this month, Conor Murphy said his department intended to assume responsibility for multi-million-pound annual running costs.

However, at that time the minister did not set out a timeline for when that would happen.

Now, in response to a question from West Tyrone SDLP MLA Daniel McCrossan, Murphy said the department is aiming to assume financial responsibility for the airport from April 2025.

McCrossan asked the minister whether he intended to “take over the cost of running” the airport ahead of the local council setting the rates bills.

Councils in Northern Ireland strike their annual rates each February.

The money generated by rates is used to pay for public services, with bills decided against the value of a property.

The airport is owned by Derry City and Strabane District Council (DCSDC) and it costs ratepayers £3.45m to help pay operational costs.

In response, the minster said: “My department aims to assume responsibility of the funding from 1 April 2025.”

DCSDC has previously raised concerns over future funding.

A council spokeswoman told ������̳ News NI that DCSDC had submitted a business case in April 2021 “aimed at securing a contribution towards the operational running costs of this important facility in line with the significant central government support provided to regional airports throughout Europe”.

She added: “Council and City of Derry Airport officials have been and are continuing to engage with relevant government departments in relation to the detailed arrangements for the funding.”