Gatherings of air finance chiefs to boost economy by €9m

In today's Irish Times (21 January 2019), Aircraft Leasing Ireland welcomed PwC's findings on the expected contribution to the local economy arising from the Airfinance Journal and Airline Economics conferences taking place this week (21-24 January 2019) in Dublin.

David Swan, Chair of ALI, the representative body for aircraft leasing companies in Ireland said, “This week’s conferences are further evidence of Ireland’s role as the principal global location for aircraft leasing companies. ALI looks forward to welcoming senior airline executives from around the world to Dublin this week. This is the highlight in the industry’s calendar where airlines will discuss and negotiate their future fleet requirements with the world’s top aircraft leasing and finance companies.”

Click here to explore the findings of the PwC's analysis

The Irish Times article is available here and the full press release is below.

The world’s largest airfinance conferences, to be held in Dublin this week, are expected to contribute at least US$10m to the local economy. This is based on analysis from PwC, welcomed by Aircraft Leasing Ireland (ALI), which also affirms that the Dublin conferences are the largest airfinance conferences in the world and have grown steadily since 2013.

The conferences, hosted by Airline Economics and Airfinance Journal will be held over four days from January 21st to 24th in the Shelbourne Hotel and International Convention Centre respectively. Attendance at these conferences has increased by 300% since 2013 up from 1,880 to 5,571 in 2018, with international delegates making the greatest economic contribution.

With 50 aircraft leasing companies based in Ireland, the industry employs approximately 5,000 people both directly and indirectly and contributes $660m to the economy annually. In addition, over 65% of the global leased fleet are managed from Ireland.

Yvonne Thompson, Aviation Finance Leader, PwC Ireland, commented: “Ireland is renowned as the location of choice for aircraft leasing. The industry has shown significant growth over the last five years and is a major contributor to Ireland’s economy, in terms of jobs created, the amount of revenue generated and the knock-on effects to the economy generally. And PwC’s 2018 Taking Flight report showed that the sector is poised for further significant growth to 2021.

As a significant supporter to the global industry, Dublin continues to be the home to the largest aircraft leasing conferences in the world. Highlighting the latest trends, these conferences are critical for the future shaping of the industry, also providing key networking opportunities. Today’s analysis reaffirms the continued contribution to Ireland’s economy of these conferences. The research proves that the economic value is substantial and, given the strength of the industry and future growth potential, the conferences should continue to significantly benefit Ireland’s economy in the future.”

Welcoming the findings, David Swan, Chair of ALI, the representative body for aircraft leasing companies in Ireland added, “This week’s conferences are further evidence of Ireland’s role as the principal global location for aircraft leasing companies. ALI looks forward to welcoming senior airline executives from around the world to Dublin this week. This is the highlight in the industry’s calendar where airlines will discuss and negotiate their future fleet requirements with the world’s top aircraft leasing and finance companies.”

This economic contribution is based on 2018 figures from international executives of $8.4m and when added to the conference organisers spend will increase the figures to $10m. This does not include spending from domestic companies during the week.