The world’s largest airfinance conferences, to be held in Dublin this week, are expected to contribute at least US$10m to the local economy. This is estimated based on analysis from PwC welcomed by Aircraft Leasing Ireland (ALI) which also affirms that the Dublin conferences are the largest airfinance conferences in the world and have grown steadily since 2013.
The conferences, hosted by Airline Economics and Airfinance Journal, will be held over four days from January 21st to 24th 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.
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. PwC’s 2018 Taking Flight report showed that the sector both in Ireland and globally is poised for further significant growth to 2021. Forecasted growth in aircraft units held by Irish lessors is expected to grow by 22% through 2021 which is well ahead of expected global growth in the number of leased aircraft.
As a significant supporter to the global industry, Dublin continues to be the home to the largest aircraft leasing conferences in the world. Highlighting the latest trends, these conferences are critical for the future shaping of the industry, also providing key networking opportunities. Today’s analysis reaffirms the continued contribution to Ireland’s economy of these conferences. The research proves that the economic value is substantial and, given the strength of the industry and future growth potential, the conferences should continue to significantly benefit Ireland’s economy in the future.”
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.”
This economic contribution is based on 2018 figures for spend by international delegates of US$6.9m. When you add spend by conference organisers and Irish based companies and delegates the value to the Irish economy of the conferences in 2018 is estimated to be US$10m.