Aircraft leasing:Japanese company Mitsubishi is to establish an aircraft leasing base in Dublin, already one of the biggest hubs in the world for this activity.
MUL Aviation Capital is a subsidiary of Mitsubishi UFJ Lease Finance Company, which leases aircraft to a range of operators. It will create about half a dozen high-end jobs here initially. Its airline clients include AirBerlin, China Southern, Norwegian, Qantas, Southwest Airlines, and Turkish Airlines.
The new Dublin subsidiary will focus primarily on acquiring and leasing narrow-body aircraft.
Minister for Transport Leo Varadkar has welcomed the investment. He said he was “exploring” ways to make Ireland an “even more attractive location” for aviation financing.
Nine of the top 10 aircraft leasing companies have bases in Ireland. More than 3,000 aircraft, valued at €83 billion, are leased out of Dublin, and the sector contributes about €300 million in corporation tax to the exchequer each year.
The sector supports about 2,000 jobs in Ireland, with more than half earning more than €100,000 a year.
