Plans for a national aviation policy for Ireland to be outlined at Dublin conference
Aviation Policy for Ireland, an Irish Government-backed conference, will see the Irish Government Minister responsible for aviation, Leo Varadkar, outline plans for a new civil aviation policy for Ireland. Aircraft leasing will also feature prominently, with GECAS' Sean Flannery due to address the conference while the experiences of the establishment of Australia's civil aviation policy in 2009 will be also be outlined.

Mitsubishi establishes new European aircraft leasing base
Japanese company Mitsubishi UFJ Lease & Finance Company is establishing a new European aircraft leasing base. Its new subsidiary lessor MUL Aviation Capital Ltd has set up an office in Dublin.

New incentives announced by Ireland for organisations with internationally mobile employees
The Irish Finance Bill published on 8 February 2012 introduces a number of employment focused initiatives; most notably some very welcome news for internationally mobile employees and employer organisations seeking to attract key talent. There are two key areas which are likely to be of most interest to the aircraft leasing industry and indeed, were lobbied for specifically on behalf of the industry. The questions we now ask ourselves are whether these initiatives go far enough?, say PwC's GEAROID DEEGAN and JEAN COLEMAN.

Ireland and Bermuda facilitate Islamic aviation financing structures
Both Ireland and Bermuda are being looked at as host jurisdictions to facilitate Islamic financing rules for aviation finance, with Bermuda, for example, hosting the $290m aircraft engine securitisation carried out by GE Capital Aviation Services in 2011, the first closed since 2008. Ireland too has been to the fore in developing Sharia compliant structures: Ernst & Young's John Hannigan writes on developments in the Republic of Ireland's hosting regime.

Aircraft leasing in Ireland
Over the last year, a number of aircraft leasing companies have established a presence in Ireland or committed additional resources to their Irish leasing platform through employment and funding commitments. Some of the key criteria in determining a jurisdiction to establish aircraft leasing operations are reputation, expertise, tradition in the aviation industry and tax efficiencies. So why have many international aircraft lessors chosen to establish operations in Ireland?

IFCs - onshore and offshore in aviation finance
Joe Gill looks at what features make a successful aviation finance centre. Against a backdrop of change on the operating, leasing and manufacturing fronts he profiles the key requisites for successful aviation finance hubs


The Wings Club Dublin Luncheon 2012
The Wings Club held its Annual Dublin Luncheon in the Four Seasons Hotel where former Aer Lingus CEO and the current deputy Chairman of Royal Brunei Airlines, Dermot Mannion, gave a keynote address to over 200 attendees from the aviation industry including lessors, airlines and OEMs.

Finance Bill 2012 update - positive developments in relation to SARP and FED
PwC and Ernst & Young say that provisions covering the Special Assignment Relief Programme (SARP) and Foreign Earnings Deduction (FED) scheme in the Finance Bill 2012 represent positive developments, but there is still room for improvement.

Expanding tax treaty network increases Ireland’s attractiveness for aircraft leasing
Ireland’s supportive environment is one of a number of critical factors in maintaining its place as a world leader in the aircraft leasing space. In particular, many of Ireland’s domestic tax laws give rise to low effective tax rates and allow for efficient repatriation of profits to stakeholders.

Irish aircraft leasing industry hopes Special Assignment Relief Programme (SARP) will be extended in Budget to make the jurisdiction more attractive for mobile executives
Ireland's aircraft leasing industry has urged the Government to take action in the upcoming 2012 Budget to improve the international competitiveness of its world leading aircraft leasing industry. The broad thrust of pre Budget submissions, channeled through Ireland's financial services consultative process, the Clearing House Group, a broad industry representative group, is that personal tax rates, particularly for high paid internationally mobile executives could be made more attractive, helping companies seeking to locate staff in the jurisdiction.

The Blue Sky Case and the Cape Town Convention
DAVID MAUGHAN on the crucial difference between Irish and English law in regard to aircraft mortgages: 'The international interest created under an Irish law aircraft mortgage will exist under the laws of Ireland even where such Irish law aircraft mortgage is not considered effective security under the laws of the place where the aircraft is located at the time the Irish law aircraft mortgage is executed.' By contrast, he says, 'it seems that the English courts will only treat an English law aircraft mortgage as creating a valid security interest if, when the English law aircraft mortgage is executed, the aircraft is located either in England or in another jurisdiction which will give legal effect to an English law aircraft mortgage.'



Aviation Finance Special Features

Aviation Finance special features