Viewpoint - 'Ireland will remain the most highly valued jurisdiction by aircraft lessors' - Joe Gill, Contributing Editor, Aviation Finance
1st July 2016: The Brexit vote must be assessed and analysed by the Irish aircraft leasing community as the consequences of the vote unfold, writes Joe Gill, contributing editor, Aviation Finance, a sister publication of Finance Dublin.
The referendum has created enormous uncertainty in the UK around financial services and related tax and trade agreements with international markets. In contrast, Ireland is firmly committed to the EU and remains a steadfast member of the euro. Moreover, cross party comments in the Irish parliament suggest a unified attitude towards Ireland’s corporation tax regime. These, coupled with Ireland's unparalleled network of aircraft ownership treaties leaves it strongly positioned to retain of not embellish its position in the global air finance industry.

Ireland also remains wedded to the European single aviation market, a critical component of aircraft ownership and operator structures across Europe. Keeping that status ensures seamless operation for lessors and their assets across Europe post the Brexit decision.

Ireland is expected to continue as a stable and secure environment for aircraft leasing. Aircraft owners operate in a volatile global marketplace so having a jurisdiction within which their ownership and management of those assets is conducted without extreme or adverse geo-political disruption is highly valued. Policymakers and politicians alike in Ireland are alive to those issues given the huge presence of global corporations in the country. That will ensure extensive efforts are made to re-assure existing aircraft financiers that Ireland has no plans to review its EU commitments. That message will be broadcast loudly too to aircraft owners who are unhappy being located in a country that risks being cut off from the large EU market.