Shannon’s Aviation Cluster welcomes new company

Shannon’s Aviation Cluster welcomes new company


The attractiveness of Shannon Group’s International Aviation Services Centre (IASC) as an international cluster for the industry has been reflected by the decision of leading aircraft investment specialist and advisory firm Stratos to establish a base there.

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 and one, it states, will add to the wider stock of the cluster.

The company is to bring six employees to its new base in Rineanna House, a five-story office building in the Shannon Free Zone that is operated by Shannon Group’s property subsidiary, Shannon Commercial Properties.

Over the past 3 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.

Michael O’Hurley, Lease Manager Stratos, Rita Meehan and Ray O’Driscoll of Shannon Commercial Properties – Photo: Arthur Ellis.

“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.”

Gary Fitzgerald CEO said: “Stratos 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.”

Chief Reporter Pat Flynn has worked as a journalist for almost 30 years. His career began during the late 1980s when, like many aspiring radio presenters of the time, he worked for local pirate radio stations in Clare and Limerick. Pat joined Clare FM in 1990 where he worked as researcher initially and later presented several different programmes including the station's flagship current affairs programme. He was also the station's News Editor and Deputy Controller of Programmes. Despite leaving in 2003 to pursue a career as a freelance journalist, he continues to work with the station to this day. As well as being the Clare Herald’s Chief Reporter Pat is also freelance journalist and broadcaster, contributing to Ireland’s national newspapers and is a regular contributor to national broadcasters.