It has been well documented how the Irish Aviation Leasing market has experienced extensive growth since the days of Tony Ryan. Irish based leasing companies are now responsible for over half of all aviation leasing activity worldwide with an Irish leased aircraft estimated to take to the air every 2 seconds!
So is the aviation leasing industry built to last or is it a bubble waiting to burst? Well, recent figures that the global leasing market is most definitely on the up. Over the next 20 years the global fleet will grow on average by 3.6% annually, that’s an additional 36,000 aircraft of which more than a ⅓ have already been sold. This could result in a further $1.3 trillion in business coming to Ireland within that period.
So what makes Ireland so special? Why haven’t other countries caught up – well there’s a few reasons:
One of lowest in the EU and the continued stability of this will keep FDI focus clients looking towards Ireland for Investment. Ireland also has supportive Tax Authorities that encourage further development and employment within the sector.
Attractive to foreign investment
Ireland is the EU’s fastest growing economy, has a common legal system, GMT time zone and is is soon to be the EU’s only English speaking country with easy access to the European and Global markets.
Increased educational focus on Aviation; a number of leading universities have created specific Degree and Masters to further develop expertise in this area.
This is the major point – since the 1970’s Ireland has been the global leader in Aviation Leasing, dating back to Tony Ryan’s GPA days.
This is something that cannot be replicated easily, the IP Ireland has built up in that period is unrivaled across the world. Not only has Ireland produced multiple global leaders across Aviation, professional services firms have been specializing in this space for almost 40 years now and can offer an unrivaled source of expertise from Audit, Tax, Advisory to an experienced pool of non exec directors.
Both Dublin and Shannon have benefited hugely from the continued investment of foreign and local Aviation leasing business in the Irish market. Since 14/15 leading lessors are now based in Ireland, all signals point to continued rise and success of the Aviation Leasing market within Ireland.
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