Ireland’s aircraft leasing industry sees record income despite rising costs

The Law Society of Ireland highlighted that employment within the sector has grown since before the pandemic, with a workforce now totaling 3,005 people—7% more than in 2019. Of these employees, about 62% are men and nearly 38% are women.

Combined salaries for workers reached €620 million ($726.7 million) in 2024, almost a 20% increase compared to five years ago, resulting in an average salary above €206,000 per employee. While women earn less on average (€137,000) than men (€249,000), their pay has risen at a faster rate (25.8%) compared to male counterparts (8.5%).

Over the past decade, Irish firms have generated €205 billion from operational aircraft leasing activities, making Ireland the world’s second-largest market by leasing income with a global share of 7.6%. Only China surpasses Ireland with a market share of 9%, while the United States and India trail at shares of 6.9% and 6%, respectively.

Asset values held by Irish-based lessors have also increased significantly over ten years—from €176 billion in 2014 to €268 billion in 2024—a rise of more than half over that period.

Depreciation and interest costs were notable challenges for these companies last year; both categories exceeded €7 billion each.

"Ireland has carved out a useful niche for itself by becoming a heavyweight when it comes to aircraft leasing," according to reporting from Business Post.