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Friday, April 25, 2008

Ireland’s Helicopter Purchases are Dissipating

Due in part to the current economic turmoil, reports of Ireland’s muted sales is appearing. The number of helicopters registered in Ireland swelled by 16 percent last year to 162, according to new figures from the Irish Aviation Authority (IAA). Industry sources say the actual number of Irish-owned helicopters could be about the 250 mark, as many of the aircraft are registered in the U.K. or the U.S. Ireland's fleet of private helicopters includes everything from starter models costing €100,000 ($157,000) to executive versions with price tags above the €10m ($16,000,000) mark. The helicopter boom has been inextricably linked to the property market, with eight of the 10 largest privately owned helicopters linked to construction companies and many smaller developers snapping up entry-level models to oversee their fledgling empires. As the property market falters, anecdotal evidence suggests the flying boom may be beginning to fall. For related news
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