May 30, 2016

Ireland is on a high with aviation success

Posted in Sunday Business Post · 68 comments ·
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Silicon Docks might be getting the headlines, but our huge and growing success in the air travel sector is even more remarkable.

Not that long ago, it was an article of faith that living on the periphery of Europe was a huge economic disadvantage. The official line from Ireland was that living so far from the core of Europe was a serious drawback. It seemed like a pretty ironclad argument at the time, particularly as there was (and, ridiculously, still is) a tendency to suggest that Ireland’s future was one of closer and closer integration with the EU.

Today that seems fanciful, both from a political point of view (as our closest neighbour Britain votes on whether to leave the EU) and also from an economic, social and cultural standpoint. Economically, it seems fanciful given the fact that our major trading partner is actually the US, not any country in the EU. Socially and culturally, as the refugee flows from the south become greater and more problematic, being the furthest point away from the EU’s chaotic south might also be regarded as a blessing.

However, there is another reason to be thankful for our geography: air travel.

Did you know that the Irish are the most frequent flyers of Europe?

Total seat capacity in and out of Ireland is 30 million annually. This means that Irish people – or tourists coming here – take on average more than six flights a year in and out of the country. The EU average is 1.5 flights. You could argue that it’s because we’re an island, but when you look across the water at Britain, we see that the Brits only use on average three and a half seats per year on planes.

We travel a lot and we do it by air. This air travel figure is also a reflection of the fact that tourist numbers are up, but it underscores that Irish business, with a tiny home market, is hyper-globalised.

But it’s not just ourselves who are using Dublin Airport. Last week, I gave a speech at the Caribbean Development Bank in Jamaica and I flew via Charlotte in North Carolina. I had no idea that you could fly Dublin to North Carolina, or that the flights would be jammed, but they were.

Lots of Americans appeared to be using Dublin as a hub, having travelled around Europe. This is a new departure – and in the airport business, being a hub is crucial. If Dublin can become such a hub, the expansion of Dublin Airport should be impressive.

Quite apart from Americans using Ireland as a hub for shorter haul flights to other parts of Europe, as the world has become more globalised, air travel has flourished to the US from all over the world. Recently, travel between the US and India, the Gulf and parts of East Africa is on the rise. Lots of routes need a hub, for example, between Ethiopia and LA, and Dublin could easily fit the requirements for many such routes.

But the Irish airline story isn’t just a matter of hubs and geography; did you know that more than half of the world’s aircraft leasing companies are based here?

As in all businesses, people matter, and the people behind much of this global expansion in airline leasing are Irish. Arguably, the aircraft leasing business model started here, or at least was refined here.

Many years ago, Tony Ryan was asked by Aer Lingus to find a temporary home for two Boeing 747s, and he realised that leasing planes was potentially much more profitable than flying punters around. Many who cut their teeth with Ryan are still major players in the business. Colm Barrington – ex-chairman of Aer Lingus, now running his own business – and many others still involved in the sector started there. Michael O’Leary and even Denis O’Brien worked for Tony Ryan.

Today, Ireland has massive expertise in this sector, from sales to legal, financial and technical. After all, the leasing companies need engineers to kick the tyres when the airlines hand the planes back. So this is a huge global business – and the biggest leasing company in the world, Aercap, is based here, in St Stephen’s Green, and run by another businessman who learned from Tony Ryan, Aengus Kelly.

So while there is lots of talk in the media about high-tech and Silicon Docks, the deal-making and expertise in the airline leasing business is an area where Ireland is punching way above its weight. And this business is growing.

Twenty years ago, passengers were most likely to fly on an airline from Europe or North America. Over the next 20 years (according to Boeing), 62 per cent of air traffic will be from outside North America and Europe. Today, there are nearly 21,000 jet planes commercially operated in the world. The largest fleets are in the US, China, Russia, Britain and Germany. Over the next 20 years, the world’s fleet will grow at an average rate of 3.6 per cent annually. This means that more than 36,700 new planes will be built.

Of these new planes, 13,000 have already been sold and are awaiting delivery. Isn’t that extraordinary? The countries with the largest backlog are the US, China, Indonesia, Russia and India.

Back home, the two domestic-based airlines are doing very well. Ryanair is a phenomenon. It’s the biggest airline in Europe and growing quickest. Its results the other day attest to it being simply the best at what it does.

Meanwhile, Aer Lingus is the fastest-growing carrier on the North Atlantic corridor since 2010, and intense competition between these carriers means Irish consumers enjoy the lowest airfares in Europe.

This week, the global airline industry meets in Dublin for the first time since 1962. It’s apt that the most important gathering of airline leaders is happening in Dublin. There will be over 800 international delegates and 200 from the international media.

Sometimes we don’t celebrate business in this country enough. But in terms of world-beating, just look up: we’ve something to cheer about.


  1. Deco

    A lot of the success was due to Tony Ryan spotting an opportunity, and following through with it. Personally, I think Ireland should stay quiet about our success in this sector, in a low interest rate, monetary easing type environment. It would not be difficult for a competitor location to be built from hedge fund money, Middle eastern sovereign wealth fund money, or even a combination of both.

    Also, Tony Ryan was clean. He was never called before a lega tribunal to explain how money moved from a businessman’s account to a government minister’s account, in 8 seperate moves. He was never asked to explain why he held tax residency in places like Malta, Monaco, or even The Netherlands, whilst posturing as a better Irishman than the rest of us, and also whilst lecturing the rest of us what should be done with our tax money.

    By Irish standards, this has massive societal implications. Societal value that simply cannot be replicated by “green jersey” stunts that seem to be commonplace by crooks in Irish life.

    The level of hypocrisy that exists in Ireland, concerning “putting on the green jersey” leaves me gobsmacked. When a banker who bankrupts a country, meets a businessman who practically owns prominent Irish mainstream politicians, and the event ONLY gets covered in an UK left wing newspaper, then I realise very quickly, that all sorts of chiccanery is possible.

    We need to be clear that there is a difference between clear success and dirty success. And it is immoral, to be backing dirty success, under the catch all that predominates in the Dublin establishment, as “putting on the Green jersey”.

    If in doubt, as to where this ends up, just check the results of such long standing liar quangos like the ESRI (remember what Richard Tol declared ebfore leaving), the Financial Regulator (the Irish banks are solve), the Finance Ministry (we auditted the Irish banks and they are in great shape), and the CBoI (and suddenly out of nowhere we have a debt problem – never seen it coming).

    Lying is the predominant activity in the entire establishment. To keep up your confidence folks. To get your engaging in risky activity, whilst hiding any information from you that might make you measure risk more accurately. We live in a new era. An era where the premium on risk is manipulated, and where the visibility of risk is diminished – for the sake of propping it all up.

    In such a scenario, it is very easy for others to get in on the game. We are not Switzerland. We obey. We do not function as a sovereign. And, the way things are going, it will be a long time again before we get to do this.

    • Colm MacDonncha

      Nailed it Deco. I was composing a comment along similar lines until I read yours.
      Thank you,Colm

    • McCawber

      Agree with a lot of what you say
      To Summarise.
      Lies, damn lies and Government MisInformation.
      The GM is mainly to benefit the civil service.
      Everything is rosey with the finances so pay rise thank you.
      The banks are the same excessive interest rates (I won’t elaborate ) and neither the government nor the CB want to interfere.
      They want the market to do it.
      Lads (gov and cb) the market isn’t doing it.
      You’re the regulators, go do your job and regulate.
      EG set a cap on interest rates that’s no greater than three % above the ECB rate or 1% above the cheapest EU country rate whichever is the lower or use the average excluding the lowest two and the highest two.
      Have rules and new entrants will come into the market.
      Laisse faire is uncertainty and markets don’t like that.
      External banks look at Irish rates and think that’s not going to last (well it wouldn’t anywhere else ) but they don’t have any guidelines.

    • Truthist

      Of course we not sovereign;
      We not allowed to issue own Gold & Silver currency from our Treasury ;
      And this state of affairs even when we had own Irish Pound & Irish Punt.
      Instead, effectively we must get it through Central Bank of Ireland ( CB of Ire ) from the Rothschild’s.
      And, with interest payable to them too.
      And even worse of a scam ;
      They only have to delegate it to be printed.
      This scam is Sud’s supremicist laugh at u Deco.
      He surely knows personally of ur on the Ball destain of him & his agenda by now.
      After all, blogs such as this would constantly have GCHQ Cheltenham Warehouse Hasbara operatives posing as eccentric Irish descendants yonder, & other observers too.
      Suds being the Roth’s Kingpin over Land of Ire.

  2. Sideshow Bob

    Bibs curse!

  3. Deco

    When I was a younsgter, on vacation, in rural Kildare, years ago, I came across a remarkable saying.

    “you can bring a donkey to Dermot Weld, but he will not win the grand national for you”.

    Despite his greatness, there were some things that even Tony Ryan simply could not do. A moral man, by the standards of Irish business, he could not instill decency, where there was already an aversion for it from the begining, even when instructing others.

    But, nevermind, none of are supposed to see this – you are supposed to be focussing on circus events. Like in Ancient Rome. Just think of the green jersey, and forget the funnybusiness that occurred along the way.

    Hemmingway comes to mind. Give it a few weeks, and you will see what I mean.

    • yadayada

      The euros, the olympics or both? What’s happening after?

      • Deco

        The public debate about Ireland’s competitiveness in the Olympics is more honest.

        Though, the last time we won a gold medal, a government minister made a complete ass of himself in an attempt to bolster the profitability of the dominant brewing oligopoly of the island. As if the HSE is not already in enough trouble.

        Well, even McIlroy is thinking of staying away, and nobody seems to care. It is like as if he has a right to do as he pleases. Which he does. He does have a right to do as he pleases. Respect for individual sovereignty. However, no such tolerance exists in football. The Irish soccer fan has a massive entitlement complex, born from pointless escapades in the name of empty patriotism.

        That leaves the other event. Based on previous media coverage, it will be another episode of celebration of limitless e-jetry. Watch the national IQ get turned down 10% for a few weeks.

    • 30somethingHiBrit

      There’s more than meets the eye with Aer Lingus. People assume it was acquired by British Airways. It wasn’t. The acquirer, IAG owns BA, Iberia and Vueling and operates them as seperate brands but with back office efficiencies.

      IAG’s atrategy is to develop Dublin as a hub for the north Atlantic run and feed it from UK regional and mainland European airports. Heathrow is full and has very few flights from the rest of the UK.

      Dublin has some slot constraints and T2 will need expanding along with a second runway, but both are very doable. Dublin is able to capture a lot of UK and mainlad EU originating long haul traffic.

      This will not only boost the aviaition industry in Ireland, but it will mean that Dublin as a city will have ever improving connections to the US.

      This hasn’t sunk in with the Irish poltiical class yet. If you look at the sessions the Oireachtas had, it mainly consisted of TDs fromn the west demanding flights from say Knock to New York. They would be more likely to get direct double daily flights from Galway to Pyongyan.

  4. Deco

    David – there is more common sense in your first three paragraphs, than what could be found after prolonged searching in a month’s content of The “Irish” Times. And The “Irish” Times are Einsteins compared to RTE.

    Tony Ryan went after business. The clowns in RTE seem to think that the business model for Ireland is being in with the provider of money for nothing.

    Tony Ryan (yes, he may have made some errors) is an inspiration to people to make it happen, for themselves, and not to be waiting for grants from the EU to make a living. Or indeed waiting for the state to provide “resources” (i.e. the scelping from hard working recirculated by a quango that is often led by a board of directors who happen to be pals of politicians).

    Do we want our country run like Tony Ryan would run it, or in the manner with which the board of FAS operates ?

    The answer is obvioous. We cannot afford to have it run under the ideology of socialism with Drumcondra-esque characteristics.

  5. Sideshow Bob

    So much for global warming or climate change? Us poor little Irish have no responsibility in this, I presume? It is the Chinese the Yanks the Russians, the Arabs and poor farmers burning their local rainforests that are to blame in most people´s heads, would I imagine.

    How about the myth of Ireland as a “green economy´´? Has that been given up on? Who cares about the future generations?

    I presume the existence of this CO2 generating industry won´t be mentioned in any future greenwashing by the Government but when it comes to global environmental issues poorer countries the likes of Brazil or the DRC will be pressured to preserve all their rainforests ( the lungs of the planet ) and not use their resources to benefit their population, in the wider interests of humanity.

    What happens if a global carbon credit system ever got implemented and God help us includes flights?

    On the whole though Isn´t it great to be making money and not having to pay for any environmental damage! That can´t come back to haunt future generations in any way I am sure!

    And on that topic how much money is actually being made by Ireland here?
    How much tax do these guys pay? Are all profits double-dutched and immediately offshored ? Do they pay more tax as a percentage than Google, for example? How many real jobs are created here? I mean outside of well remunerated jobs in the accountancy, financing and legal professions? How does regular Joe and Josephine Soap benefit from giving our collective name to these winners? How many use Irish Companies to supply them and how large of a percentage of their turnover would actually end up somewhere in the real “Irish´´ economy? I imagine the answer is f*** all, but someone can enlighten me if the situation is otherwise.

    How leveraged are these companies? Didn´t GPA crash and burn badly when the (1st) Gulf War started? Ryanair once need a bailout once, too. Is Ireland Inc liable if they fail in any way? Remember the case of Defpa Bank, Ireland Inc had a HUGE near miss there, so a question I would have is would any liability accruing from a bust scenario? ( Also see Deco above Re: Risk calculation )

    Final point; the approximate 6 flights from Dublin ( return ) with sample destinations of London, Malaga, and New York racks up 2.2 tonnes of CO2 or about the same as running an average small family car for 5 days a week, 30 miles per day, for 50 weeks a year. Ireland is a car bound low density nation which is already dependent on fuel imports ( we export our own natural gas and oil to make profits for Norwegians ) and we we are lucky that this CO2 output isn´t counted as part of our national figures because we would probably be very high up on the list of polluters per capita, GLOBALLY, of the environment. Certainly I think we would be at the top among developed countries. Does anybody feel any shame or embarrassment at this?

    If we don´t like the answers to the any of above then it is time to ignore reality and focus on the pride in wearing that “Green Jersey´´, as mentioned earlier here ( and quite astutely) by Deco.

    I see another official round of green jersey wearing begins in 10 days time or so.

    And wasn´t it great that green wearing Connaught won the pro-12 last weekend. Everybody already knows their song too. It is the same as the song we use for some other teams; teams in maroon ( Galway ) , two red teams (Munster and Liverpool) , two green teams (Ireland soccer and Ireland rugby).

    Actually we seem to have limited imaginations as supporters. I wonder if that stems from a limited ability to think for ourselves? Two sides of the same coin?

    Answers on a postcard to….?

    • Truthist

      Many worthy questions.

      Re ; CO2
      I am very very skeptical as to the enviro damage theory.
      But, I consider it as another control of ortunity on “the useless eaters”.

      • McCawber

        You’ve surely heard of the CO2 Market where emissions are traded.
        It doesn’t work but why would that matter.

        • All carbon taxes are passed on to the consumer. Several Canadian provinces have a carbon tax. Sounds nice and green but does nothing for the environment.

          All the reading I have done over the last 50 years or more tells me the climate is in constant flux. What with 40 year, 400 year and mellenia cycles all associated with moon and sun and orbits and oscillations etc.

          I can not be convinced we , that is us, have any affect on climate at all. Pollution, yes, climate no.

          How about we clean up toxicity, hormones, herbicides and plastics from the environment? Then I am with you.

          • Sideshow Bob

            Road Tax in Ireland is directly related to the (estimated) basic emission rate of your vehicle.Newer cleaner more efficient vehicles cost the least in tax.

            Like anything it depends on how the tax is “designed´´ (perhaps allocated would be a better word).

      • Truthist

        Typo ;
        Another opportunity to control “the useless eaters”

    • Deco

      Bob, Ireland is a hive of activity, but the money comes and then goes out. The amount that actually settles in the pockets of the people is very little.

      Basically, the economy is structured that the state, and poswerful vested interests manage to clobber nearly all of it from the people.

      The young people are not stupid. That is why you still have people from the poorest part of Ireland (the North West region) all in Alberta and BC working and saving like crazy. Because if they were in Dublin, they would be working like crazy but not saving much of it. In spite of what the ESRI says, and clowns like Kenny, it does not pay.

      Some of them might never come home. And why should they ? the system is now set up in such a manner that the local authorities will get ready to scelp them when they build a house. The banks will scelp them. The state will scelp them. And if they ever go looking for the dole, then they really get it in the pit of the stomach like a cement block.

      Alright, now put on the green jersey, and forget about who Ireland Inc, and Big Brother in Brussels sucks working people dry.

      • Truthist

        “…but the money comes & the money goes out”

        And DMW’s loves this Liquidity aul barney.

        Prime example of Hugo Salinas Price’s revealed flaw of Pseudo-Economics to be trying to replicate Physics ( a “quantifying” only Science ).

        Did anyone else read the absolutely priceless short article by HSP ( above ) given in last blog ?
        The style too difficult for u ?
        Pathetic excuses for avoiding dealing with the pertinent Facts.

      • Sideshow Bob

        Hi Deco,

        I have no doubt little money arrives in regular Irish pockets but I would like to see the figure calculated and expressed in terms of the infinitesimal percentage that it surely is.

        Then that information could be preferably transposed to big white letters on an even bigger green flag to be flown in front of the offices of each of these huge global companies.

        Just to be clear about things!

      • Truthist

        If they try to start an honest business they will also get fleeced by ISIS ( Institutional State of Irish State ).
        And they & their workers are always prone to lifetime harassment by the Garda-Landlord Peelers.
        Wonder how unfortunate star Mech. Eng. graduating student Derek Fair brother is now after the Garda-Landlord Pellers beating him to a pulp such that he got brain damage ;
        And, the GLP’s effectively exonerated ;
        Yes indeed, the Irish State is not a country safe to do biz in or be an employee or develop new tech in.
        It is just a green cloth to play Blackjack on.
        And some are easily impressed with the Liquidity performed on that bit of green.
        Oh yes, “the rub of the green” & “the luck of the Irish”.

    • Deco

      Concerning the CO2 thing – why aren’t the environmentalists, and the climate change lobby, asking serious questions about Dublin’s Los Angeles level of residential housing supply density ?

      The Greens seem to have nothing to say about the fact that Dublin is a “vertically challenged” city.

      There was a film a few years back, called “get shorty”. Maybe Dublin deserves to be called “shorty” given it’s extremely low profile.

      That lack of stature, in physical terms is about to cause serious problems with regard to Ireland’s competitiveness. But even competitiveness is not the number 1 objective that it was 15 years ago, with all those that know better than the great unwashed.

      The number one objective now is to make the bank balance sheets solvent, and recreate insane valuations. Steve Keen’s commentary in the clip on Kilkennomics gets to the essence of it. The Irish are back again talking about how rich they are buying and selling houses to each other. This does not make any sense.

      The solution according to Ruth Coppinger is the put Dell in public ownership, and perhaps Starbucks as well. Yes, the Trots in Ireland really are that bonkers.

      Actually, policy makers need to stop folling around, thinking that Las Vegas on the Liffey, as a business model, is good enough. It is nonsense. It is a precursor to deep problems. The left in Ireland want a semi-D for those that are on social housing, so as to have parity of esteem with doctors, etc.. However the workers that pump the economy with activity, are being squeezed further and further away.

      Well….how is that for a carbon footprint.

      The residential housing policy that predominates in Dublin, is the biggest source of incremental Climate Change emissions. But nobody will dare ask the questions about this.

      Even more alarming, the problem is cauisng immense hardship on the working people who are trying to keep the country afloat and who are increasingly reaching burnout.

      Burnout happens, when you have people working long hours, and hold nothing to show for it afterwards.

      • Truthist

        Ruth Coppinger is a majoring campaigner for murder of the unborn child.
        Gulags will be harnessed again by the Trots for to genocide the born who are caught trying to be Christians.
        Solitznten’s 400 Years Together & &also Gulag Archipillego are required reading now because be the Stalinist-Marxist Leninists ( so-called Right-Wing parties or the Trots ( so-called Left-Wing parties in Land of Ire ), the Gulags is coming for u even in a subtle form.

        • Truthist

          major = majoring

          200 Years Together ( See below for free Transcript from Canada site ; But I no time to peruse site ) = 400 Years Together

          http://www.radicalpress.com/?p=8334

        • Truthist

          Sorry for many typos in above;
          My hardware & software especially ltd. now.

        • McCawber

          You seem to have an issue with abortion but you haven’t spelt out your position or perhaps your reasons.
          Totally not a fan of Ruth just to be clear.
          However it’s my firm belief that most women will not willingly undertake an abortion without good reason.
          We need to legislate for those good reasons.

          • Truthist

            Against the murder of the unborn under any circumstances.
            In fact, Right to Life should be the prime & immediate article for the new constitution for All Ireland
            And the immediately logical follow through article should be The Right to Live for the Born
            These 2 are superior to the Freemason Right s to pursue Happiness mularky of USA Constitution.
            I stated much the same to Grzegorz recently ;
            And, he concurs completely.

            I appreciate ur honesty McCawber – even though ur position differs to mine —- nonetheless.
            Not from u the sinister & criminally illegal, according to the Irish Constitution, campaigning for abortion that GCHQ Cheltenham Warehouse Hasbara Operative type response.
            And, as discernable I am fan of much of ur angle on things.

            Now using very basic smartphone ;
            So, elaboration too difficult.

          • McCawber

            So you’d prefer to see a woman murdered (your choice of word) instead. Because sometimes that’s the choice no matter what spin is put on it.
            God doesn’t exist so we are on our own and iit’s time to step up to the plate.

          • Truthist

            Hippocrates ( the father of medicine & truly a noble man ) & all the main religions of the main populations – Christianity. Islam, & Buddhism & Hinduism absolutely prohibits abortion ;
            Classed as the ultimate murder.
            It is never the choice of murdering or so-called sacrificing the mother for to save the baby.
            This is attested by the top- most doctors in the world.

            God exists.
            Only a Fool thinks otherwise.
            And being a Fool does not necessarily entail being sub-IQ ;
            U being proof of this subtlety of Fool.
            But, u are not a clever Fool ;
            That type of folk knows not to doubt there is God.
            It appears there are many types of fool.
            I would be one such
            were I to argue with a Fool ;
            And that I have unfortunately done so many times.
            I — on the fly thinking aloud in my typing to u — would call that type of Fool “unwise Fool”.
            I now deep in my bones know better ;
            So, it would be not foolish to consider me now Wise Fool.

          • McCawber

            You’re entrenched, so am I.
            Phyrrus would appreciate our relative positions.

      • Sideshow Bob

        Hi Deco,

        I took a longer look at this issue of density viz-a-viz “the Environmentalists´´, i.e. mainly Green Party (though I prefer to think of them as the Super-Smug Party ). So, I took a look at their relevant policies because I don´t remember them ever making a thing about density publicly.I found that density as an issue dosen´t particularly arise in their policy document on `Housing and Homelessness´ from December 2015. There are vague mentions here and there (3 in total), with no specifics.

        I think the answer to this lies in the origin of the Green Party which is a sort of purely middle class Dublin based Labour Party with greenwashed PR profile and no unions, and more importantly no great unwashed masses, to hold them back. Originally many of them were involved with the resistance to destructive development in Dublin at places like at Woodquay or Sunlight Chambers many years ago. So fundamentally, they like Georgian Dublin and don´t like modern architecture. This is the nub of it. Quaint formerly run down neighbourhoods ( Francis Street, Meath Street, Pimblico, Stoneybatter etc) are their true habitat and all they really want is a few bike lanes to get around it all more easily, meet for coffee, pretend they live in Amsterdam while living in re-modeled ascendency house that they have “saved´´. They generally pretend to be a reinvented modern version of semi-bohemian aristocratic Dubliners ( Joycean even, but without the drink) preaching mildly to the rest of us from their self-righteous bicycle seats.

        They also say like proper planning as implemented in ideal places like Sweden or Holland and they vaguely mention increasing density without specifics. It seems to me that they have no real clue as to how to handle the basic economics ( I mean by the that the choices ) inherent in an urban environment and their flip flopping on density would show that statement to be true.

        Altering density would demand destruction and rebuilding, probably expropriating buildings and lands and taking very hard political choices, which should be something that determined politicians of truely beneficial movement should be willing to take. It would also require true innovation and insight and a controlled radical vision but particular to Ireland´s own internal conditions to really engage in any denser rebuilding of the city. Possibly the most difficult aspect of all of this is that it would require true debateand consensus and political and financial support over, say, a ten year period to achieve serious results. And things will likely go wrong. Take the example of the big dig in Boston, a solely infrastructural project.. http://www.boston.com/cars/news-and-reviews/2015/01/05/can-talk-rationally-about-the-big-dig-yet/0BPodDnlbNtsTEPFFc4i1O/story.html

        The Greens however want soft choices. They know they are opportunistic chancers on a big green self-righteous bandwagon. I mean where were they for the Bank Guarantee? ( Nobody told us! The decision was already taken. Then we carried on in government and supporting FF because there was no way we were giving up those pensions! ) They are sort of a well-off group of people who can afford to make seemingly worthwhile pronouncements ( actually a mish-mash of cherry picked ideas from other countries which can´t be applied to Ireland ) and feel smug about themselves all the while. Any financial element in their policies is untested but has has a veneer of propriety but again all you have to do is point to their record in Government where they sold out the country. And then there is the smug self-righteousness in the delivery of their “ideas´´.

        They don´t deal with harsh reality.They are a subset of one part of Ireland (educated middle class establishment but not FF & FG supporters) and are jostling for room in that righteous space with the remnants of Labour and the Soc-Dems. I would best describe them as being like the IFC / IFI brigade you know the ones who enjoy contact with the working classes as long as it only through the medium of films.

        And now, I am going back to happily not paying attention to them…

  6. Mike Lucey

    Air travel is continuously becoming more fuel efficient.

    ‘For U.S. airlines, domestic flights now average 0.54 aircraft-mile per gallon of jet fuel (0.23 kilometer per liter), an increase of more than 40 percent since 2000. There’s also been progress for the heavier jets on international flights: a 17 percent improvement to 0.27 mpg (0.12 km/l.)’

    ‘Reshaping Flight for Fuel Efficiency: Five Technologies on the Runway’
    http://news.nationalgeographic.com/news/energy/2013/04/130423-reshaping-flight-for-fuel-efficiency/

    With the likes of Microsoft HoloLens the question arrises, is there really a need for being physically present at business meeting on the other side of the World?

    ‘Microsoft HoloLens is the first fully untethered, holographic computer, enabling you to interact with high?definition holograms in your world.’
    https://www.microsoft.com/microsoft-hololens/en-us

  7. Sideshow Bob

    “Total seat capacity in and out of Ireland is 30 million annually. This means that Irish people – or tourists coming here – take on average more than six flights a year in and out of the country.´´

    There are a number of groups that you missed D McW in painting these broad strokes.

    There seems to be a class of Irish people, better off Irish people in the media, who almost ignore migrants here as a group, when discussing national issues. Abortion was one important issue that springs to mind. When it comes to national commentary it is like they don´t exist as people, except to serve coffee and clean up and disappear back to where ever they go to at night.

    So, the I would define these groups as follows;

    1) The first would be international and particularly non EEA students of English who use Dublin as a base for study and for traveling/visiting Europe e.g. Paris, Rome, Barcelona, etc. EEA students would probably come and go from their home countries more.

    2) The second would be EEA migrants working here in solid jobs or just here more temporarily to avoid unemployment at home or to learn English. Cheap travel facilitates these people hugely to come and go and maintain contact with the family and friends where ever home is. Also they like to travel to places other than home if they have the money.

    3) The third are tourists essentially but contain people who are possibly eyeing a move here, and consists of people visiting the above two established groups. Not having to spend on hotels and having an in-country guide is an attractive incentive to many relations and friends of people in the first two groups mentioned above to visit Ireland.

  8. How would an invasion of English people telling Ireland to exit the EU go over?

    Ireland:

    PM Kenny says border controls possible in event of Brexit: The Guardian reported that Irish Prime Minister Enda Kenny, has raised the prospect of border controls being re-imposed between Northern Ireland and the Republic as he directly appealed to hundreds of thousands of Irish people living in Britain to vote to remain in the EU. The article cited Kenny warning that Brexit would “adversely” affect Ireland’s ability to trade with Britain and could result in the establishment of custom and border controls between the two countries. The Guardian noted that Kenny’s intervention came as 30 Irish opinion formers, business leaders and media figures working in Britain wrote a letter to urge Irish living in the UK to back the remain side, citing concerns including the peace process.

    • Deco

      How exactly Kenny thinks he still has credibility after the various fiascos, is beyond me.

      Close chum of former Rehad director Frank Flannery, today outlined how a vote in the referendum would have monetary effects.

      Or how about….the Prime Minister whose wife’s counsin was shortlisted for 5 quango jobs, and shoved into one those roles, (even though he was clueless in the area) talks about how Brexit might impact employment ?

      EK is the village chancer in charge of running a country.

    • Truthist

      I being an Irish Nationalist & Israeli Nationalist & _Palestinian Nationalist & Scottish Nationalist & Welsh Nationalist & .. English Nationalist will never forgive these 30 pseudo Irish citizend for their treachery

  9. Irish aviation has a worldwide impact as you say David with the aircraft leasing industry a huge player globally, Irish ATC controlling an enormous amount of transatlantic traffic daily and Irish pilots exploiting current expansion in the industry as far afield as China and the Gulf.

    Synergies in other industries are also being forged with great interest from healthcare in particular in aviation’s Error Management approach. Human error is increasingly being accepted as a huge contributor to both morbidity and mortality in healthcare. Prof Marty Makary, a general surgeon and Professor of Health Policy in the renowned Johns Hopkins Hospital in Maryland only last month published a paper in the BMJ estimating deaths due to human error in US healthcare at 250,000 annually (whilst also acknowledging this to be an underestimate-actual numbers are generally estimated at around 400,000 per year). This makes human error the third biggest killer behind cancer and heart disease. He is calling for human error to be recorded as a contributing factor on death certificates as many mishaps are going unrecorded and therefore not affording the opportunity of learning from them and preventing re-occurrence. We have no figures in Ireland measuring adverse events due to human error, but if we extrapolate from US figures (which are consistent with studies elsewhere including by the WHO), Ireland is sustaining 100 deaths and 300-400 serious incidents weekly due to error unrelated to the actual disease process.

    Aviation is acknowledged as one of the industry leaders in managing human error, born from bitter experience in the 1970’s including the Tenerife disaster in 1977 which eventually led to a new human factors approach in aviation based largely around our Crew Resource Management (CRM) training and a Just Culture where error is expected and reporting of incidents encouraged in a non-jeopardy environment (within certain parameters-it’s not a free for al!…). We now have companies, including my own, Frameworkhealth Ltd, taking this concept into the healthcare arena. Research in the USA suggests error trapping rates of 40-80%. Given that the State Claims Agency pays out over €100million annually in compensation alone, the potential savings in both financial and human terms are colossal.

    I am leveraging my knowledge as an airline captain with Aer Lingus with my previous career as a trainee cardio-thoracic surgeon in Belfast’s RVH and Dublin’s Mater Hospital to try to incorporate our error management framework approach (hence the company name) into healthcare. We focus on both the multiple system flaws which can be engineered out and also the philosophy of expecting error and therefore having tactics to manage it rather than stigmatising the individuals who are left holding the parcel when the music stops.

    This approach is slowly gaining traction and I feel will be yet another string to aviation’s bow with Ireland now having the opportunity to become world leaders in transforming healthcare training as we did in the field of aircraft leasing and low-cost travel.

    Watch this space!!

    • Sideshow Bob

      I hate the word “synergies´´. It is such a vague load of

      So at least two suicidal pilots managed to take 420 people to their graves with them last year. Another idiot and his co-pilot willing flew over a warzone where attack aircraft and SAM complexes were operational leading to the deaths of another 300. Has the aviation industry made any progress in admitting why such deranged or non-thinking people managed to get airborne in the first place? Or does it wheel out garbage about creating “synergies´´ and meaningless stats about “error capture´´?

      One thing I find comical about statistics about death is the sincere tone in which they are delivered you know X many thousand people will die of Z this year, as Z is the no.1 killer of people and then there is pressure put on to stump up for some research into preventing Z(based on fear of dying mainly). What is comical for me is that it seems to be implied that research will save you from contracting Z and if you just stump up for research Z or that there won´t be any more no.1 killer diseases about after Z is eliminated. We will be immortal! Or in reality infirm geriatrics for a longer period than present, and unquestionably, that is a good thing for both us personally and for society at large.

      • Sideshow Bob

        Ha, ha.

        I got “bleeped´´ electronically. I will paraphrase my excluded four letter word as;

        *I hate the word “synergies´´. It is such a vague load of…..self-aggrandizing intellectual rubbish.

        The “bleeped´´ word began with a w. Thesaurus required next time, I think!

  10. survivalist

    The wages are down
    And they’re staying down.
    The record profits are up;
    And they’re rising.

    Homeless families? Uncounted,
    Selling houses? By thousands.
    Profit absentee landlords?
    Here the State puts her weight.

    Child poverty is rampant,
    And distress has turned lethal.
    But services are cut back
    As the funding’s,
    “Unfeasible”.

    But odious ‘debt’? , “Why yes!”
    And State subsidised,
    For ALL business must prosper,
    To bring in our wealth.
    No matter the crumbs are all that’s divided,
    What’s good for the masters,
    Should see you content.

    In the long centuries gone;
    Through Ireland’s history and progress,
    Her people’s oppression was spared no expense,
    But against ingenious devices and brute force oppression,
    The wretched poor peasants,
    Withdrew all consent.

    So what of New Ireland,
    Where it’s held as a right,
    The downtrodden condition,
    Is economics done right?
    The lessons well learned
    But now all forgotten,
    Expect nothing but lies
    From the top to the bottom.

    So look for no ease,
    Forget chance of a change,
    Irelands freedoms now found,
    Behind Capital’s due rent.

  11. michaelcoughlan

    Any chance Ryanair is in fact a value extraction business model professor?;

    http://www.managerism.org/topics/value-creation/thinkpiece-no-11

    • Truthist

      Thank u Michael

      It’s a gem.

      And not alone will I be bookmarking it. I’ll be printing it for scrutiny.

    • Good essay there Michael.

      “Distortions that arise from excessive extraction of wealth must be eliminated. Value creation is and must remain the principle purpose of economic activity in a regulated market economy.”

      Although the points debated are valid there is the continued prevalence of ignoring the Banking system or should I say the money system. Our money system is the ultimate in the defined “extraction economy ” so rightfully deplored.

      Why our economists and economic writers continue to ignore this fact is beyond my comprehension. It is as if all are mesmerized into inaction on this basic of all matters.

      Besides being extractive by its very nature it enhances the ability of all the downstream activities that also extract value from the economy.

      It is no accident that this activity accelerated in the 1970′s to the situation today where the only people to benefit from the economy are those closest to the source of the money production.

      There is a fallacy propagated that it is necessary to expand the money supply in order to expand the economy. The expansion of the money supply is largely the prerogative of the bankers. They benefit the most from this government legislated activity.

      Until economists and the community in general understand the source of the economic malaise there can be no improvement. It is the expansion of the money supply that is the basic start of the extraction model. In 1971 the final restriction, to the unlimited production of money, was removed. It was called going off the gold standard but in reality the gold standard was long gone and this was simply cutting the last remaining string.

      As all other currencies were defined in US dollar terms, and the US dollar could now be created to infinity, it meant that all the world currencies now had no restriction on production.

      This unlimited production is the ultimate in inflation which is another way of saying currency destruction. We now live in an age of currency destruction, or currency devaluations, or competitive currency devaluations. This is a race to the bottom. The ultimate measurement of value of a currency is how much currency it takes to buy any object, good or service. Currently this is disguised, as the amount of goods received are in larger packages containing less and less product, or less time received for the cost of services.

      Unless one uses a standard measuring stick it is hard to ascertain what is happening. In monetary matters the traditional measuring stick was gold.

      It is instructive to see how different currencies measure up against this standard. In general, the weaker the currency the more currency it takes to buy a unit of gold. Or the higher the price in that currency.

      This is the reason central bankers hoard gold. It is the only asset that can offset their accumulating liabilities, or balance their books. At the same time central bankers hate gold as it exposes the loss in value of their currency they issue. Their policy is to denigrate gold even while increasing their holdings.

      As all currencies are issued as a loan, the total amount of currency is actually a debt. This debt charges interest. This is the greatest part of the extractive economy so decried in the above link but whose existence is unmentioned.

      Until a country enacts sovereign legislation to change the money system there can be no improvement. Simply put, a national currency can be issued by treasury at no cost. There will be no national debt and no interest charged. Plus, banning the legal,fraudulent, fractional reserve banking system will prevent bankers from creating money from nothing on which they charge interest. This requires both a physical change and moral change in outlook.

      Ultimately money should belong to no national entity entirely but become a public commodity. It used to be so and should return there.
      The people should have the freedom to decide on which money they use in transactions and thereby introduce competition in which is the best money to use. The last thing to eliminate are the legal tender laws in order to allow this to happen.

      This would set the moral tone to allow the resumption of the value creation economy so desired in our heart of hearts by us all. The change is up to you the people.

      • “The U.S. financial and economic system is a Ponzi scheme of unprecedented size. The media will have you believe that China is the problem. But it’s not. The real problem is the powder keg of fraud and corruption that underlies the United States. The lit fuses protrude from every nook and cranny of the system. It’s impossible to know which fuse will hit the powder and when. But there’s no doubt that it will come from a source that no one anticipates – not even “them.”

        http://investmentresearchdynamics.com/the-u-s-economy-is-collapsing-and-the-sp-500-is-flat/

      • michaelcoughlan

        “Our money system is the ultimate in the defined “extraction economy ” so rightfully deplored.” +1.

        Yes Tony our host can’t even see a value extraction business model operating in an airline never mind a central bank.

        Where it plays out is in the stats though. The irish birthrate is in decline for 5 straight years (even though the population is increasing as a result of the influx of dirt cheap eastern european labour), the largest ever emigration out of Ireland since the foundation of the state was 2015, 2014, 2013, we are about to set a new record for people on trolleys in hospitals, rents in dublin are going through the roof as the housing building industry is dead in the water,

        I figure the purchasing power of the average wage today is 50% of what it was in 1982. A Ford cortina in 1982 cost about 5000 punts when the average wage was about 250 per week. A ford mondeo today is about 28000 euro with the average industrial wage about 26 to 280000 euro in other words a mid sized family saloon in 1982 cost half a years salary at the average industrial wage level whereas today it’s about a years salary of the average industrial wage for a similar level car.

        The sheeple are suffering from Stockholm syndrome I feel; https://en.wikipedia.org/wiki/Stockholm_syndrome

        I dont give a fiddlers anymore Tony. I am going to plough my own furrow Literally and metaphorically.

        Michael.

    • Sideshow Bob

      + 1

      Yes good one Michael, thanks greatly for sharing.

      One to bookmark. Describes large parts of the Irish domestic economy. Could be applied to the bloated civil service and almost all politicians too (AAA and a few others excluded).

  12. Truthist

    Inside track info ;

    Only 4 super “long-haul” airlines will exist between Europe & Russia & Middle-East & Asia :

    Europe ; “Turkish Airlines”
    Much enhanced by continual slush fund from Germany & EU facilitate by tribal cousins & prevaricating Merkel & (Donmeh) Erdogen

    Russia ; Probably “Aeroflot”
    By the way, Russian aircraft are admired for their well designed fuselages.

    Mid-East ; 1 of the well known Mid-East airlines

    Asia (East Asia & Orient & South East Asia ) ; Air Asia (Report ably much more customer friendly budget short haul airline than Ryan Air, & having own kiosks on shopping malls etc.

    Ryan Air will serve the above long-haulers in as many routes as possible.
    Ryan Air will carefully avoid being long-hauler itself ;
    Because doing otherwise will destroy it.
    Air France-KLM & Brit Airways will collapse.

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