Irish Registered Aircraft for non Irish Airlines?
Join Date: Oct 2004
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And apparently Irish registrations are cheaper than British ones, hence MOL having EI on STN based planes!! Also EUjet they have EI, but both are original Irish airlines too.
Join Date: Sep 2004
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EI-
It is not entirely to do with the fact that the domicile of many lessors is in Ireland, it is due more to problems of enforcing security in certain jurisdictions. In Italy for example, there is a very long a protracted procedure for reposessing aircraft in the event of airline default. The same is true in Russia and some other Eastern European jurisdictions. Some countries do not have mortgage registers, and if the do, enforcement can sometimes be problematic and expensive. Others levy taxes on registration of ownership or security.
The Irish register has become a flag of convenience for many lessors. It permits lessors and financiers to move aircraft relatively quickly if necessary, avoiding the problems of protracted downtimes whilst local courts make up their minds. Local courts often favour the local airline and not the lessor.
The Irish register has become a flag of convenience for many lessors. It permits lessors and financiers to move aircraft relatively quickly if necessary, avoiding the problems of protracted downtimes whilst local courts make up their minds. Local courts often favour the local airline and not the lessor.
Join Date: May 2004
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David,
Perhaps the Irish register is cheaper,not questioning that at all. However Ryanair is not an "originally" Irish airline, it is as far as I am aware a 100% Irish airline, with all A/C on the Irish register and it's headquarters at Dublin airport.
With relation to EUJet, there headquarters are at DebisAirFinance house at Shannon Airport, however I am aware of the Manston Airport involvement, not the details, so I would not presume to make an assumption on that on.
Can anyone else share any definitive details?
Rgds
P206
Perhaps the Irish register is cheaper,not questioning that at all. However Ryanair is not an "originally" Irish airline, it is as far as I am aware a 100% Irish airline, with all A/C on the Irish register and it's headquarters at Dublin airport.
With relation to EUJet, there headquarters are at DebisAirFinance house at Shannon Airport, however I am aware of the Manston Airport involvement, not the details, so I would not presume to make an assumption on that on.
Can anyone else share any definitive details?
Rgds
P206
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The Irish authorities do require some connection to Ireland to permit registration athough it is less stringent than most other countries. It is common for special purpose companies to be set up and registered in Ireland to own aircraft. The fact that many lessors locate in Ireland is because of the tax advantages of the ISFC in Dublin and the Shannon trade area. These advantages are I understand coming to an end. In addition Ireland benefits from very favourable double taxation treaties with many countries.
Certainly EUJet and Ryanair would pass all the required connectivity tests for registration. The lessor community is very large in Ireland and includes GECAS,Orix, RBS. Some airlines have set up Irish subsidiaries for specific aircraft financings including Iberia.
Although initially subsidised by the Irish tax payer, their policy has attracted jobs and investment.
Certainly EUJet and Ryanair would pass all the required connectivity tests for registration. The lessor community is very large in Ireland and includes GECAS,Orix, RBS. Some airlines have set up Irish subsidiaries for specific aircraft financings including Iberia.
Although initially subsidised by the Irish tax payer, their policy has attracted jobs and investment.
