Michael O'Hurley of Stratos with Rita Meehan and Ray O'Driscoll of Shannon Commercial Properties Picture: Arthur Ellis
A SPECIALIST aviation advisory firm is to establish a base in Shannon.
Leading aircraft investment specialist and advisory firm Stratos is to establish a base at the International Aviation Services Centre (IASC), run by the Shannon Group.
The move will see Stratos bring six employees to Rineanna House, a five-story office building in the Shannon Free Zone that is operated by Shannon Group’s property subsidiary, Shannon Commercial Properties.
The Shannon Group said the move was the latest sign of the attractiveness of the IASC as an international cluster for the industry. Stratos provides acquisition, re-marketing, advisory, capital raising services and portfolio servicing to airlines, lenders and investors in large commercial aircraft – a suite of high-end services new to IASC that will add to the wider stock companies located there.
Over the past three years, the Stratos team has financed, placed and sourced $2bn worth of aircraft, and raised or traded over $700m in commercial aircraft-backed debt.
On the equity side, Stratos has sold, dry leased, financed (SLB) and purchased 54 large commercial aircraft, including 11 which are managed by Stratos in-house lease management team with a value of over $1bn.
"This makes Stratos one of the most active independent remarketing and lease management agents in the large commercial jet market,” said Ray O’Driscoll, Managing Director of Shannon Commercial Properties.
"We are delighted that Stratos has chosen Shannon and the Mid-West for its Irish operations. The unique services Stratos provide will enhance and broaden the IASC clusters versatility, adding to its value proposition."
Stratos CEO Gary Fitzgerald said the firm "chose Shannon and the Mid-West because it is a dynamic environment from an aviation industry perspective, with a heritage that is second to none.
"They have built on that history and created a vibrant aviation cluster here. Being part of that represents a very considerable opportunity. This region also offers an excellent quality of life and that’s very important from an employee perspective. We would also like to thank all our clients, suppliers and staff for helping Stratos to achieve this exciting expansion," he added.