Professional Services firm Grant Thornton Ireland has recorded significant growth in its aviation advisory practice across the past year as aircraft leasing and international interest in the Irish market continues to grow.
Grant Thornton recorded a 40% increase in revenue in the aviation advisory practice, from €4.3m to over €6m in 2023 driven by growth in its lease management, financial modelling and transaction services among others. The firm experienced significant growth within its aviation leasing service in the past year, almost doubling the number of aircraft units to which Grant Thornton provides lease services from 390 units to almost 800 units.
The firm’s aviation team has been at the fore of supporting businesses within the aviation sector as they navigate a maturing industry and ever-changing environment, whether that’s in helping lessors to optimise their platform to ensure their people are able to focus on value-add activity or assisting them with non-core activity while they scale their business.
Speaking of the remarkable growth of the practice, Tim O’Connell, Partner and Head of Aviation said,
"Dublin has continued to grow as a hub for aviation leasing in recent years, which was only boosted as the world reopened for air travel in the years following the pandemic shutdown.
Grant Thornton Ireland is working with 13 of the world’s largest lessors and we believe optimism is high within the market right now. We anticipate the aviation industry here is set for further growth as Ireland continues to distinguish itself as a global centre of excellence. We look forward to being at the fore of this as we support our clients across our advisory, tax and audit service."
Grant Thornton Ireland has experienced remarkable growth in recent years, recording revenue of approximately €300m in 2023. The firm’s growth reflects the diverse experience of its teams which have doubled to approximately 3,000 people since 2022.
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