Elizabeth Bowen
Director, Aircraft Leasing Ireland
Learn how has Ireland become a leader in the global aviation leasing industry and how it can continue to be a centre of excellence within the aviation sector.
The foundation of Ireland’s aircraft leasing industry can be traced back to the establishment of Guinness Peat Aviation in Shannon in 1975. Ireland’s rich aviation heritage, skilled talent pool, comprehensive double tax treaty network, pro-enterprise policies and stable political and legal system have fostered a fast-growing, internationally oriented aviation leasing industry.
Increasingly mainstream aircraft leasing
The past number of years has seen aircraft leasing become more mainstream. Leasing an aircraft allows the airline to manage cash flow while growing its fleet and giving flag carriers access to the newest, most fuel-efficient aircraft on the market. Research shows that almost half of the world’s commercial fleet is now leased, and this trend is expected to grow further.
Economic contribution
Ireland’s aircraft leasing industry is crucial to the International Financial Services sector. It significantly contributes to the economy through job creation, revenue generation and broader economic impacts. PwC research1 — based on responses to a detailed survey provided by members of Aircraft Leasing Ireland (ALI), the Ibec group representing aircraft leasing in Ireland — found that the industry contributes significantly to the economy through two key factors: employee economic impact and Irish suppliers’ expenditure (USD823 million), alongside its payroll exchequer contribution (USD152 million). This expenditure supports 8,543 full-time equivalent employee jobs in Ireland, up 71% since 2018.
Almost half of the world’s commercial
fleet is now leased, and this trend
is expected to grow further.
Sustainability essential for aviation
Sustainability is a prerequisite for the continued long-term growth and success of the aviation industry. ALI launched its Sustainability Charter in October 2022. It is based upon the aviation industry’s ambition to achieve net zero in 2050 and the ALI members’ desire to be part of the solution.
Ireland’s aviation needs stability
Ireland is an unrivalled centre of excellence within aviation. To continue succeeding in a competitive landscape, it must maintain its reputation as a predictable and commercially conscious regime. This involves ensuring measures or policies do not add costs or complexity to aircraft leasing while supporting aviation’s path to net zero by 2050.
