Hotels, restaurants, pubs and other businesses will share a €9 million boost to the economy this week from two gatherings of aircraft finance professionals, according to accountants PwC.
Dublin will host the Airfinance Journal and Airline Economics yearly conferences once again this week, drawing delegates from the rest of Ireland, Europe, Asia and North and South America.
Industry figures such as Stephen Kavanagh, former head of Aer Lingus, and Aengus Kelly, chief executive of Dublin-based aircraft leasing giant Aercap, will address either or both gatherings.
Research by accountants PwC calculates that both meetings combined are worth $10 million (€8.8 million) to the local economy, including the cost of organising the conferences in the capital and the money that delegates spend.
Yvonne Thompson, PwC aviation finance leader, explained that the Republic was a key centre for aircraft leasing, which supports 5,000 jobs while contributing €580 million to the national economy.
“Highlighting the latest trends, these conferences are critical for the future shaping of the industry, also providing key networking opportunities,” Ms Thompson said.
“Today’s analysis reaffirms the continued contribution to Ireland’s economy of these conferences.”
This is the highlight in the industry's calendar, where airlines will discuss and negotiate their future fleet requirements
David Swan, chairman of industry group Aircraft Leasing Ireland, said that the gatherings were further evidence of the Republic's status as one of the sector's global locations.
“This is the highlight in the industry’s calendar, where airlines will discuss and negotiate their future fleet requirements with the world’s top aircraft leasing and finance companies,” added Mr Swan, who is chief operations officer of Dublin-based SMBC Aviation Capital.
SMBC's chief executive, Peter Barrett, will participate in Airfinance Dublin 2019 at the National Conference Centre on Wednesday and Thursday.
Mr Kavanagh and Dómhnall Slattery, chief executive of aircraft lessor Avolon, will also address that gathering, organised by the trade publication Airfinance Journal.
Mr Kelly will take part in both that conference and Airline Economics, which takes place on Monday and Tuesday at the Shelbourne Hotel in central Dublin.
Others speaking at Airline Economics include Chris Monroe, senior vice president, of US-based low-cost behemoth, Southwest Airlines, and Gerry Laderman, chief financial officer, United Continental Airlines.