Ireland: Aircraft lessors set up lobby group to protect E550m sector from competition
Aircraft lessors are setting up a lobby group to defend the E550m a year industry in Ireland against competition from Singapore and Hong Kong. The Republic’s status as the world’s leading centre for financing aircraft purchases contributes E550m a year to the economy and supports more than 5,000 jobs. Employers’ group Ibec, through its Financial Services Ireland arm, is formally launching the new industry body Aircraft Leasing Ireland (ALI) Tuesday to help consolidate the sector’s position there. The Republic has around 65% of the global leasing market. Airlines will have to spend US$100b to $120b a year on acquiring craft over the next two decades. According to ALI, Singapore and Hong Kong are bidding to lure key industry players from the Republic to their jurisdictions to get a greater slice of this cake. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-07-05/general/ireland-aircraft-lessors-set-up-lobby-group-to-protect-e550m-sector-from-competition
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Ireland: Aircraft lessors set up lobby group to protect E550m sector from competition
Aircraft lessors are setting up a lobby group to defend the E550m a year industry in Ireland against competition from Singapore and Hong Kong. The Republic’s status as the world’s leading centre for financing aircraft purchases contributes E550m a year to the economy and supports more than 5,000 jobs. Employers’ group Ibec, through its Financial Services Ireland arm, is formally launching the new industry body Aircraft Leasing Ireland (ALI) Tuesday to help consolidate the sector’s position there. The Republic has around 65% of the global leasing market. Airlines will have to spend US$100b to $120b a year on acquiring craft over the next two decades. According to ALI, Singapore and Hong Kong are bidding to lure key industry players from the Republic to their jurisdictions to get a greater slice of this cake. <br/>
