Dublin Airport operator Daa has lodged an application to amend two planning conditions connected to the operation of the new North Runway and the overall runway system at the airport when the new runway becomes operational.
Daa said the current "onerous' conditions would limit the use of North Runway between 11pm and 7am.
They also place an overall limit of 65 aircraft movements across the entire airport during those hours.
If unchanged, the Daa said these two conditions would significantly affect the operation of the airport and its key airline customers and would damage the entire Irish economy.
Under the planning application lodged today, it is proposing the introduction of a noise quota system at night, which is the industry standard approach for managing night-time noise at large airports.
This proposed new quota system would operate between 11.30pm and 6am.
Daa is also proposing that the North Runway would only be used between 6am and midnight, meaning that there would be no flights on the new runway during the core midnight to 6am night-time hours.
"We had originally wanted to have these two onerous conditions removed entirely," Daa's chief executive Dalton Philips said.
"But having engaged with the local community and listened to their views we have revised our previous position and are now proposing very significant mitigation measures," the CEO said.
The new 3.1km North Runway is being built almost 1.7km north of Dublin Airport's current main runway. A parallel runway system has been in the long-term plans for Dublin Airport since the 1960s.
The main construction programme started in late 2018 and the official sod-turning took place in February 2019.
Construction of the runway will be mostly completed in the second quarter of next year and this will be followed by a rigourous period of testing and commissioning. The runway is expected to be operational in 2022.
Under its new proposals, Daa said the overall effects of night-time noise at Dublin Airport are less than envisaged under the planning permission granted in 2007, and do not exceed those in 2018.
Within the planning application, Daa is also proposing a new €7m insulation scheme for dwellings that are most affected by night-time noise.
The proposed scheme would see grants of €20,000 paid to the owners of up to 350 eligible houses.
Daa has already established an insulation programme for about 200 local homes and has established a voluntary scheme to purchase up to 38 properties that will be most affected by the operation of the North Runway at a significant premium to their market value if the runway was not being built.
"The new proposal balances the requirements of the Irish economy with the valid concerns of the local community," Mr Philips said.
"It has never been Dublin Airport's intention to have lots more flights in the middle of the night, but in their original form, the two conditions would have a very significant impact on Ireland's connectivity, as the hour between 6am and 7am is Dublin Airport's busiest time of the day," he explained.
Being able to have a flexible operation in the peak 6am-7am window is essential for the economy given that Ireland is one hour behind the rest of Europe.