Managing Director Ronan Reilly looks at why the aviation
world has turned to his country for aircraft finance and leasing
for almost half a century.
Since the creation of Guinness Peat Aviation (GPA) in the
1970's Ireland has been a global hub for aviation finance and
leasing. More than half of the word's leased aircraft are
leased from Ireland and nine of the top ten aircraft leasing
companies are based in Ireland. These include Avalon, Aercap,
Gecas, Aircastle, SMBC and AWAS.
More recently helicopter leasing companies have chosen to set up
in Ireland including Milestone Aviation (bought by GECAS), Lobo
Leasing and Waypoint Leasing.
The primary reason for Ireland being one of the most popular
jurisdictions for aircraft leasing is its favourable tax regime.
The features include a growing number of double taxation treaties,
zero withholding tax on lease rentals, a low rate of corporation
tax and certain exemptions from dividend withholding tax on the
extraction
