Conferences estimated to contribute USD$10 million to the local economy
The world’s two largest airfinance conferences, taking place in Dublin this week, are expected to contribute at least US$10m to the local economy according to analysis from PwC.
The conferences, hosted by Airline Economics and Airfinance Journal, will be held in the Shelbourne Hotel and Convention Centre respectively. Attendance at these conferences has increased by 300% since 2013 up from 1,880 to 5,571 in 2018, with international delegates making the greatest economic contribution and the Dublin conferences continue to be the largest in the world over 70% greater than the nearest competitor.
Over the course of the conference, key figures from the aviation industry will address one or both events. Peter Barrett, SMBC Chief Executive, will attend Airfinance Dublin, organised by the Airfinance Journal, as will Dómhnall Slattery, Chief Executive of Avolon, one of the largest aircraft leasing companies in the world.
Other speakers include Stephen Kavanagh, former head of Aer Lingus, and Aengus Kelly, chief executive of Dublin-based aircraft leasing company, Aercap.
Airfinance’s contribution to the Irish economy
PwC’s ‘Taking Flight’ report showed that the airfinance sector is set to for further significant growth in Ireland and globally with aircraft units held by Irish lessors expected to grow by 22%.
Yvonne Thompson, Aviation Finance Leader, PwC Ireland, commented:
Ireland is renowned as the location of choice for aircraft leasing. The industry has shown significant growth over the last five years and is a major contributor to Ireland’s economy, in terms of jobs created, the amount of revenue generated and the knock-on effects to the economy generally.
David Swan, Chair of ALI, the representative body for aircraft leasing companies in Ireland added,
This week’s conferences are further evidence of Ireland’s role as the principal global location for aircraft leasing companies. ALI looks forward to welcoming senior airline executives from around the world to Dublin this week. This is the highlight in the industry’s calendar where airlines will discuss and negotiate their future fleet requirements with the world’s top aircraft leasing and finance companies.