Jobs boost forecast for aviation industry

Almost 500 jobs are expected to be created over the next three years in the aircraft leasing industry in Ireland, the Irish Aviation Authority has predicted.

The positions are expected to be high-end and aimed at professionals with legal, financial, engineering or aviation backgrounds.

The authority said 1,000 people are employed in the leasing industry and it expects growth of around 45% with a forecast upturn in the aviation sector.

Philip Hughes, IAA technology and training director, said: "It's a good industry to help to build on and we think that we should be promoting Ireland as a centre of excellence in aviation generally and this in turn would help to promote industry, such as the leasing industry."

Mr Hughes said Ireland was a good location for aircraft leasing companies in part because of the favourable tax and legal regime.

"The aviation industry is now coming out of a very steep downturn and starting to improve. You now have a lot of new aircraft coming online," Mr Hughes said.

"So a lot of airlines will be phasing out a lot of their older aircraft which are less fuel efficient and therefore will be seeking to have those aircraft replaced.

"Ireland is ideally placed in order to try and take advantage of that upturn."

The authority said the leasing industry is worth €300m in taxes to the state, with more than 30 companies estimated to be operating in the country.

Some 3,400 aircraft are leased from companies in Ireland.

The IAA has been working closely with the industry, third level institutions and Enterprise Ireland to help promote Ireland abroad and attract jobs in the aviation sector.