The foundation of the aviation leasing industry can be traced back to the establishment of Guinness Peat Aviation (GPA) in Shannon in 1975 by Tony Ryan. Fuelled by a low tax regime and an intricate web of double tax agreements, the industry has flourished, and Ireland has become the global leader in aviation finance. The total assets of the world’s top 22 aviation leasing firms come to $253 billion, according to data compiled by Airfinance for its 2021 report. Of that, some $163 billion is controlled by companies operating out of Ireland. Of the 22 companies listed by Airfinance, some…

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