Since the creation of Guinness Peat Aviation (GPA) in the 1970’s, Ireland has been a centre of excellence in aviation finance and leasing, with an extensive number of skilled arrangers, managers and advisors based here. More than half of the world’s leased aircraft are leased from Ireland. Most significant transactions in the sector have involved Irish leasing companies. The industry looks set to grow further, with very large orders being placed by Irish lessors.
The Irish Government’s ongoing commitment to maintaining competitiveness is evidenced in the recent introduction of the ‘Aviation Act’, which came into force in July 2014. This Act, should enable investors to benefit from ‘Alternative A’ type protection in the Cape Town Convention. These changes combined with the deep pool of expertise and attractive tax regime, continue to make Ireland the preferred choice.
Airlines can yield significant savings by locating fleet procurement and management operations here. Ireland is already home to a number of airlines operating captive lease and fleet procurement businesses.