The global aircraft leasing sector has emerged from the COVID-19 pandemic in robust health - nowhere more so than in Ireland, where more than 60 of the world's leased aircraft are managed. The country has been at the centre of the leasing industry since the mid 1970s, when Guinness Peat Aviation (GPA) and International Lease Finance Corporation (ILFC) were established, becoming pioneers of the global leasing market. With $100bn of assets, the Irish leasing sector is matched only by the US, in terms of its global dominance, thanks to the presence of experienced aviation professionals, favourable trading conditions and a resilient economic climate. Prior to the pandemic, an Irish-leased aircraft took off from airports around the world every two seconds, according to lobby group Aircraft Leasing Ireland (ALI). With signs the industry is starting to emerge from the virus-related downturn,the proportion of the global airline fleet that is lessor-financed is forecast to climb above the 50 threshold, and the Irish market is poised to capitalise on this.Ireland's leasing sector established itself as a major force within the global aviation industry when the ILFC was founded in 1973, followed two years later by GPA (launched by Ryanair co-founder Tony Ryan), a group operating from Shannon Airport, leasing planes to commercial airlines. Ryan leant on skills acquired while working for Aer Lingus, including the wet leasing of aircraft to competitors during the oil shock of the 1970s, and GPA went on to purchase its first (second-hand) Boeing 737-200 by the end of that decade.
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