Gallery: Leasing Hotspots Of The World

Europe’s largest leasing location is Ireland, with multiple companies located around Dublin. A report by Central Bank of Ireland found that 50% of the world’s leased commercial fleet is managed from the country. In total, it is estimated more than 30 leasing companies are operating in Ireland. These include AerCap, set to consolidate with GECAS in a $30 billion mega merger, and SMBC Capital. Avolon, which prioritizes investment in new and younger aircraft, comprised of direct OEM buys along with sale and leaseback transactions. Other notable players include Fly Leasing, Guinness Peat Aviation, Intrepid Aviation and Lease Corporation International.

Historically, Singapore has competed with Ireland in vying to be the world’s largest leasing destination, with both holding an estimated 85% of the industry. In Singapore, companies have traditionally been attracted by low tax rates set at a standard rate of 25%. The wider Asia-Pacific region was also a hotbed for aircraft leasing pre-COVID-19. Singapore is home to BOC Aviation, which says its fleet of nearly 400 aircraft have an average age of just four years. Most of the world’s other leasing giants all have major presences in Singapore.

Looking to compete with Singapore is Hong Kong, a global hub of finance. In 2017, Hong Kong laid the groundwork to take its slice of the market. It held an ambitious target of an 18% share of the leasing industry with creation of more than 15,000 jobs and a HK$430 billion contribution to the state. However, since then, doubt has been cast about the growth following widespread social and political unrest in the country. Home to several locations of lessors from China and the rest of the world, China Aircraft Lease (CALC) serves as Hong Kong’s domestic leasing company. As of March 2021, it has 128 aircraft on its books, with an order backlog of 227 aircraft, according to the CALC website.

Headquartered in Connecticut, U.S.-Irish GE Capital Aviation Services (GECAS) has the world’s largest fleet of aircraft for a leasing company, numbering more than 1,000. The U.S. is also home to several other large-scale lessors including San Francisco-based BBAM, Air Lease Corporation in Los Angeles and Willis Lease Finance Corporation headquartered in Florida.

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Dubai Aerospace Enterprise (DAE) is the Gulf state’s main leasing player with nearly 400 aircraft in its fleet and an asset portfolio estimated at more than $16 billion. DAE’s engineering division Joramco, located in Amman, Jordan, serves as its maintenance affiliate, carrying out repairs on aircraft such as the Airbus A320, Boeing 737 and ATR 72-600.

Nigel Howarth / Aviation Week

Several government-driven business and tax incentives have sought to position India as a player in the global leasing market. An estimated 70% of aircraft in the country are on lease. With potential lessors encouraged to set up by March 2024 in order to enjoy the financial incentives, the country could see a mix of domestic and international companies set up a presence there over the next few years.