Five reasons Ireland is the lead aviation hub in Europe

In recent years, Ireland has grown to be the lead aviation hub in Europe. Aircraft leasing is now worth more than €500m to Ireland's economy and supports almost 5,000 jobs.* Major Chinese aircraft lessors, financiers and arrangers have established operations in Ireland and more than 1,100 Chinese-owned aircraft are managed from Dublin, about a quarter of the 4,300-strong global leasing fleet are in Ireland.

Here are the 5 key reasons Ireland is attracting aviation companies and in particular from China:

1. Our taxation regimes: Irelands' taxation regime provides for a stable and competitive headline rate of corporation tax and a tax depreciation write-off period of eight years. There is also an extensive network of double taxation treaties with 74 countries currently in effect.

2. Ireland's low risk profile: Ireland is considered less risky than other countries and is considered by many leading Chinese aviation companies to deliver a more stable return on investment.

3. Legacy experience: Ireland has been involved in the industry for over 40 years since the foundation of Guinness Peat Aviation (GPA) in the 1970's. This has helped cement the country's position as the top global destination for aviation leasing companies.

4. Availability of specialist education programmes in aviation finance: Specialist aviation programmes at UCD's Smurfit Business School and University of Limerick provide a steady flow of talent for firms operating here.

5. Highly skilled workforce: Ireland boasts a deep, multi-disciplinary skills market across technical, legal and financial skill sets.

At GKR we are one of the leading recruiters for the aircraft leasing sector in Ireland. To find out more, speak to a member of our dedicated aircraft leasing team or you can check out our latest vacancies here.

* Source: PwC's Taking Flight 2018 report. https://www.pwc.ie/publications/2018/taking-flight-2018-aviation-leasing-ireland-survey.pdf

 

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