Since Tony Ryan established Guinness Peat Aviation in 1975, Ireland has become a world leader in the aviation leasing industry. It is estimated that an Irish-leased aircraft takes off from a runway around the world every two seconds. Irish lessors also own over 60% of the world’s fleet of leased aircraft.
This industry is very special for several reasons: First, it is a flagship for the rest of Ireland's international financial services industry and proof that Ireland can attract and retain decision-makers and be a global leader in finance. Second, it is a provider of highly skilled jobs, not just in Dublin but also in the Shannon region, with room for further regional expansion. Third, with air travel forecast to expand significantly in the next two decades - particularly in Asia - it is an industry with huge potential to grow. In fact, Irish lessors reported growth of 36% in fleet number in the five years from 2012- 2016. (statistic- PwC ‘Taking Flight- 2018')
The industry makes a significant contribution to the Irish economy, with a total contribution of $660m in 2016 and 4,970 FTE supported jobs. These jobs are provided directly through leasing companies, and indirectly through Maintenance Repair & Overhaul, legal, tax, audit and other professional services. The CSO estimates that direct employment in the industry grew by 275% between 2007 and 2016. Sources: Central Statistics Office 'Aircraft Leasing in Ireland 2007 - 2016' and PwC 'Taking Flight - 2018'
Ireland's Aircraft Leasing Industry at a Glance download here