Dáil Éireann Debate, Thursday - 18 October 2012
62. Deputy Regina Doherty asked the Minister for Transport, Tourism and Sport his view on whether aviation leasing is a sector in which there is considerable potential for growth here; if so, the way he proposes to take advantage of this; and if he will make a statement on the matter. [44937/12]
View answerIreland has achieved a leading global position in the aviation leasing business sector. Fourteen of the thirty largest lessors globally, including nine of the top ten global operators, are based in Ireland and fifty percent of the world's commercial aircraft fleet is managed from Ireland, representing €83bn in assets. The Government is committed to helping the sector achieve further growth and will continue to work in close collaboration with the industry to ensure that its full potential can be exploited and that Ireland retains its pre-eminent global position in this sector.
Ireland was one of the first signatories to the Capetown Convention which is aimed at facilitating the financing of mobile assets, particularly aircraft, and the international registry of mobile assets established under the Convention is operated out of Dublin. A number of tax initiatives have also been introduced in recent budgets aimed at supporting the leasing and aviation finance industries. The Government will continue to actively engage with the sector and I will have a direct opportunity to do so at a Conference I am facilitating on 3 December to launch a review process for the development of a new civil aviation policy for Ireland. Many representatives from the leasing industry have been invited to attend and I look forward to discussing with them how the Government can best support continued growth in the industry in Ireland.
