{"id":4965,"date":"2023-04-12T11:00:30","date_gmt":"2023-04-12T11:00:30","guid":{"rendered":"https:\/\/aviation-news.info\/?p=4965"},"modified":"2023-04-12T11:00:30","modified_gmt":"2023-04-12T11:00:30","slug":"pwc-tallies-aviation-leasing-employment-growth","status":"publish","type":"post","link":"https:\/\/aviation-news.info\/?p=4965","title":{"rendered":"PwC Tallies Aviation Leasing Employment Growth"},"content":{"rendered":"

Employment in Ireland\u2019s aviation leasing sector has enjoyed strong growth in recent years, despite Covid disrupting international aviation and Ireland\u2019s high personal tax regime.<\/p>\n

A new report from\u00a0PwC<\/strong>\u00a0estimates that full-time equivalent jobs supported directly and indirectly by the aviation leasing industry were 8,540 in 2021 compared with 4,970 in 2018.<\/p>\n

Based on 2021 data, the report estimates gross payroll to aviation leasing employees of \u20ac356m, with payroll Exchequer contributions of \u20ac140m per annum.<\/p>\n

The\u00a0Taking Flight<\/a><\/em>\u00a0report\u2019s findings are based on responses to a detailed survey provided to members of Aircraft Leasing Ireland (ALI), the representative body for aviation leasing in Ireland.<\/p>\n

The cost of doing business in Ireland ranks as the top challenge facing the Irish aviation leasing industry, with respondents to a PwC survey referencing the cost of housing and the cost of living driving pay demands to unsustainable levels.<\/p>\n

Other challenges include competitive tax regimes in other jurisdictions, international tax reform creating a growing degree of tax uncertainty, and Ireland\u2019s personal income tax system with a marginal income tax rate significantly higher than competitor jurisdictions.<\/p>\n

The report calls for further improvements in the Special Assignee Relief Programme (SARP).<\/p>\n

Yvonne Thompson<\/strong>, leader of\u00a0PwC Ireland\u2019s aviation finance practice, commented: \u201cWhile Ireland’s extensive double tax treaty network was ranked as the top driver behind Ireland’s success as a global centre for aviation leasing, there is a need for its continued expansion and improvement.\u201d<\/p>\n

Her PwC colleague\u00a0Joe Conboy<\/strong>\u00a0added: \u201cThe industry serves as a flagship for the rest of Ireland’s international financial services industry and demonstrates that Ireland can attract and retain decision makers and be a global leader in finance.<\/p>\n

\u201cIreland’s position as a global leader in aviation is fragile and needs to be nurtured in order to enable it to continue to grow.\u201d<\/p>\n

Marie-Louise Kelly<\/strong>, chair of \u00a0Aircraft Leasing Ireland, said:\u00a0 \u201cThe report reaffirms what we in the industry know \u2013 that aircraft leasing is both a critical enabler of the global aviation industry and a highly valuable contributor to the Irish economy.\u201d<\/p>\n

\"aviation
PWC ESTIMATES 8,540 JOBS SUPPORTED DIRECTLY AND INDIRECTLY BY AVIATION LEASING INDUSTRY<\/figcaption><\/figure>\n

Underpinned by pent-up demand, respondents reported growth expectations in Irish based aircraft numbers of 26% between 2022 to 2025.<\/p>\n

The largest proportion of this growth is expected to be fueled by additional fleet leased to Asia, followed by South and Central America and Europe.<\/p>\n

Asia’s share of Irish lease rental income has increased to 43% in 2021, up from 33% in 2018 when last reported.\u00a0 This makes Asia by far the largest market for Irish aviation lessors, surpassing Europe, which was the largest market in 2018.<\/p>\n

Europe\u2019s share of Irish lease rental income is 23%, down from 35% in 2018 and is the second largest market.\u00a0 The North American market contracted 5% between 2018 and 2021.<\/p>\n

On the sector\u2019s gender diversity, two-thirds of respondents only had up to 25% female representation at a C-Suite level.\u00a0 Three-quarters of respondents reported female representation of 25% and 50% across all employees.<\/p>\n","protected":false},"excerpt":{"rendered":"

Employment in Ireland\u2019s aviation leasing sector has enjoyed strong growth in recent years, despite Covid disrupting international aviation and Ireland\u2019s high personal tax regime. A new report from\u00a0PwC\u00a0estimates that full-time equivalent jobs supported directly and indirectly by the aviation leasing industry were 8,540 in 2021 compared with 4,970 in 2018. Based on 2021 data, the …<\/p>\n","protected":false},"author":1,"featured_media":4966,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpscppro_dont_share_socialmedia":false,"_wpscppro_custom_social_share_image":0,"_facebook_share_type":"","_twitter_share_type":"","_linkedin_share_type":"","_pinterest_share_type":"","_linkedin_share_type_page":"","_instagram_share_type":"","_medium_share_type":"","_threads_share_type":"","_google_business_share_type":"","_selected_social_profile":[],"_wpsp_enable_custom_social_template":false,"_wpsp_social_scheduling":{"enabled":false,"datetime":null,"platforms":[],"status":"template_only","dateOption":"today","timeOption":"now","customDays":"","customHours":"","customDate":"","customTime":"","schedulingType":"absolute"},"_wpsp_active_default_template":true},"categories":[96,102],"tags":[],"class_list":["post-4965","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aviation-world","category-featured-en"],"yoast_head":"\nPwC Tallies Aviation Leasing Employment Growth - aviation news<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/aviation-news.info\/?p=4965\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PwC Tallies Aviation Leasing Employment Growth\" \/>\n<meta property=\"og:description\" content=\"Employment in Ireland\u2019s aviation leasing sector has enjoyed strong growth in recent years, despite Covid disrupting international aviation and Ireland\u2019s high personal tax regime. A new report from\u00a0PwC\u00a0estimates that full-time equivalent jobs supported directly and indirectly by the aviation leasing industry were 8,540 in 2021 compared with 4,970 in 2018. 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