Tea/Coffee Reception: 6.00pm - 6.30pm
Meeting: 6.30pm - 8.00pm
Ireland is associated with aircraft leasing due to the development of the industry by Tony Ryan’s Guinness Peat Aviation (GPA), which at its time became the largest aircraft lessor in the world. This put Ireland on the map as a dominant centre for the industry, and as a result, the country continues to grow as a go-to location for aircraft leasing. Over 50% of the world’s leased fleet is owned or managed from Ireland. There are over 50 lessors with Irish operations, with 4 of the top 5 lessors originating their businesses here.
KPMG has been identified as one of the most influential companies operating in the global aviation sector. They host several international forums each year to address issues in the aviation sector.
Not only are the lessors growing in terms of financial size, they are also growing their employee numbers. The Central Statistics Office issued a report earlier this year showing that employment in aircraft lessors in Ireland has been growing year on year by 16% from 2007 to 2016, with average pay increasing by 22% per annum over the same period. Total pay by Irish lessors in 2016 was approx. €245m with an expected contribution to the economy of €550m.
While recognising Irelands very strong position in the leasing end of aircraft financing, the question posed is “Where to next for Ireland in this space?” pointing to the huge anticipated funding needs of the industry over the next 20 years.
Joe O'Mara is the Head of Aviation Finance and Leasing in KPMG Ireland, the leading professional services firm in aviation finance. Joe is a tax partner who advises some of the largest aviation companies globally, as well advising all forms of investors into the aviation sector. He provides domestic and international tax advice to clients on key issues relevant to their business.
He has extensive experience in tax structuring, international tax planning, capital market transactions and cross-border acquisitions. He has also spoken at numerous international conferences on tax issues impacting the aviation sector.