College Ireland Provides Training Programmes including one 'Project Management & Aircraft Leasing'. For more information see: Project Management & Aircraft Leasing Course
BACKGROUND:
Ireland has a very strong tradition and reputation in the
aerospace sphere. Our geographical location has given Ireland many advantages
in aviation, none more so than in Maintenance, Repair and Overhaul (MRO). The
development of the sector in the Shannon area, in particular, was aided by the former
requirement for transatlantic aircraft to stop over at Shannon and the business
which this provided. This facilitated the development of a significant skills
base in MRO activity that endures to this day. The MRO industry plays an
important supporting role in the wider aviation sector in Ireland supporting
airline and airport activity, aircraft leasing and finance activity and
manufacturing.
Ireland is considered the birthplace of aircraft leasing and
today it is one of the main industries in which Ireland can truly claim to be a
global leader. Aircraft leasing and finance employs approximately 1,000 people directly in
Ireland and 2,000 indirectly, in highly paid professional positions. The total
annual tax contribution to Irish Exchequer from aircraft leasing is over €300
million per annum. In addition, total expenditure by aircraft lessors on Irish
professional services and infrastructure is estimated at in excess of €135
million per annum.
The State has taken a number of steps in recent years to
bolster Ireland‘s preeminent position in aircraft leasing. Ireland was one of
the first countries to sign and ratify the Cape Town Convention and its
associated Aircraft Protocol. The International Interests in Mobile Equipment
(Cape Town Convention) Act, 2005 also provided for State participation in a
joint venture that was established to bid to operate the computerised registry
of financial interests in aircraft (the International Registry) that was
established under the Convention.
The Minister for Transport, Tourism and Sport holds a 20%
shareholding in Aviareto, the SPV that was established for this purpose.
Aviareto was selected to set up and run the International Registry by the
International Civil Aviation Organisation. It was initially appointed for a
five year term and was re-appointed in 2011 for a further five year term.
The growth of aircraft leasing was also greatly facilitated
by targeted tax rates and rulings as well as the development of a comprehensive
network of tax treaties. The industry was further facilitated by the IAA‘s
decision to support the registration on the Irish aircraft register of aircraft
based off-shore pursuant to Article 83bis of the Chicago Convention.
ISSUES:
As mentioned previously, global air transport is growing at
a phenomenal rate, outstripping economic growth globally by three to four fold.
The International Air Transport Association‘s (IATA) Airline Industry Forecast
2013-2017 shows that airlines expect to see a 31% increase in passenger numbers
between 2012 and 2017. By 2017 total passenger numbers are expected to rise to
3.91 billion—an increase of 930 million passengers over 2012. A very
significant amount of the forecast growth will be in Asia-Pacific and in the
Middle East and there is a view that, as a result of this, global aviation is
gradually shifting eastwards. This will pose a threat to established industries
in the sector in the west including those in Ireland and, in particular, MRO
and aircraft leasing. The Government recognises this threat and is committed to
continuing to support the industries to sustain and develop their position.
There are significant opportunities for continued growth and
employment in aircraft leasing and appropriate policies will be pursed to
facilitate this.
No comments:
Post a Comment