Waterford Regional Airport reportedly faces closure unless a £500,000 cash injection from the Government goes ahead.
A Government decision has been taken in recent months not to provide the airport with additional funds.
Barring an eleventh-hour intervention, a special meeting of the airport's board today will confirm the closure of the complex.
Board chairman Dr Cormac MacNamara said last night that the sudden closure would occur "pretty well immediately" and would be almost impossible to reverse.
Despite needing funds of £500,000, the airport has received a conditional allocation of only £165,000 to date from the Department of Public Enterprise.
The airport, which provides daily flights to Luton via Euroceltic Airways, has a full-time staff of 18, with 20 others dependent on the complex for employment indirectly.
The airport suffered more recently, when its navigational system was out of action for six weeks after it was hit by lightning.
Then, British Regional Express withdrew its flights from the airport, which was also struck by the loss of duty-free.