I think there would be a lot of planning regulations and discussion to go through before this happened and given (a) the allegations against Mr. Mansfield and (b) the way Aer Rianta behaved towards its own shareholder, the govt, in its attempts to introduce airport competition, this could be a long way down the road, if it happens at all.
The local community would react with less than complete enthusiasm and there may well be questions as to where the line should be drawn; if a 4,000' runway (what's the exact length) is sufficient to allow 146s, will they be allowed in, or EMB170/190s etc?
Another problem might well be connections to regional centres from Dublin; currently, US flights can connect with RE flights from DUB, with the result that its far easier to reach most of the west coast from DUB than it is from SNN.
I really, really hope this can be moved forwards, but the obstacles in the way may well be insurmountable.