Up, up and away in helicopters is modern way to go

FORGET quality bus corridors, the Luas, driving yourself or even a chauffeur as the quickest way of getting to work.

Top Irish businesspeople are more and more often turning to helicopters to get around in for work, as well as to pop into the Galway Races.

New figures from Bank of Ireland Finance reveal that of the 100 helicopters registered in Ireland this year so far, 77pc are privately-owned.

Business executives hoping to join such moneybags as Ben Dunne, Michael Smurfit and Larry Goodman with their own helicopter are now having to wait up to six months to join the club, such is the reported demand.

Helicopter prices range from Eur170,000 for a new R22 two-seater to a top of the pile Eur4m Augusta Power. On top of this, running costs of Eur70,000 and insurance of up to Eur15,000 on an average Eur300,000 helicopter need to be added.

Declan Galvin, head of sales, Bank of Ireland Finance, said: "One of the emerging transport markets in Ireland is the purchase of helicopters for personal and business use." Mr Galvin said most of Ireland's new privately-owned helicopters were being funded by asset finance, as it put less of a strain on a businesses' cashflow or working capital.
"Bank of Ireland Finance has seen significant growth in demand for helicopter finance over the last year. This is obviously attributable to a buoyant economy and more demand for time efficient means of transport."