The number of passengers using Knock International Airport is up 55 per cent this year on last year.
A total of 287,000 passengers used the regional airport in the first nine months of this year, according to the latest figures.
The increase in charter passenger numbers has almost doubled from 26,000 in 2003 to 51,000 in 2004.
The airport recently introduced charter flights during October and November to Cape Town and will operate skiing charters to Andorra with Panorama Holidays.
Management claims the airport could cater for over one million passengers a year by 2008 if money was invested in upgrading facilities.
Airport chief executive Mr Liam Scollan said the figures showed very positive growth for the airport but that "significant additional investment" is needed if Knock is to achieve its real potential and become the major driver of regional economic development in the west and north west.
In June 2004 the airport submitted a €41 million investment programme to the Government as part of the lead-up to the second round of the National Development Fund 2005-2006.