The Aircraft Leasing Industry in Ireland: Cross Border Flows and Statistical Treatment

Jenny Osborne-Kinch, Dermot Coates and Luke Nolan
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Jenny Osborne-Kinch: Central Bank of Ireland
Dermot Coates: Central Bank of Ireland
Luke Nolan: Central Bank of Ireland

Quarterly Bulletin Articles, 2017, 58-69

Abstract: This article examines the development of Ireland as a hub for the global aircraft leasing industry. Alongside the US, Ireland has become one of the two major centres in the world for aircraft leasing multinationals, with a significant number of the largest global entities operating here. Using a newly created internal Central Bank of Ireland database on aircraft leasing, we present the results following an analysis of leasing payments, funding flows, and counterparties. The scale of the aircraft leasing sector relative to the size of the Irish economy has the capacity to impact official statistics such as National Accounts and Balance of Payments and complicates the interpretation of movements in these measures over time. As part of this research, the Article examines changes in the statistical treatment of this sector over time arising from the introduction of new statistical methodologies and its implications for official national statistics. Finally, we summarise the possible economic contribution of the industry to Ireland's macroeconomy and the outlook for the industry.

Date: 2017-01
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Persistent link: https://EconPapers.repec.org/RePEc:cbi:qtbart:y:2017:m:01:p:58-69

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