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From the beginning with Genesis

THE wheel has come full circle on the double for the McMahon family and their involvement with Shannon aviation that stretches back to the pioneering days of the 1940s.When the takeover of a Shannon Free Zone-based venture went through last week, John McMahon had career involvement at both ends of the deal, which was valued at $1.75billion. A former high-level officer with Aer Lingus and Guinness Peat Aviation, Mr McMahon was the founding chief executive of Genesis Lease, which was taken over by Amsterdam-based AerCap. But AerCap was formerly known as debis AirFinance, based at Schiphol Airport in the Netherlands capital, and Mr McMahon was a member of the team that set up that very company. There he was senior vice-president in charge of commercial and business development before setting up Genesis Lease in an arrangement with GECAS, the General Electric subsidiary that took over Guinness Peat Aviation and its operations at Shannon in the early 1990s.Before the Amsterdam venture, …

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Tourism tax break fear from Limerick

East Clare tourism must not lose out to Limerick, Clare Fine Gael Deputy Pat Breen has warned in calling for “balanced and careful management” if the tax-break scheme for tourism developments on the lower Shannon is to be extended downriver to the city. “While not begrudging Limerick any openings for tourism development, the city does have substantial advantages over the East Clare area when it comes to attracting the type of investment and developments which qualify under the tax incentive scheme,” Deputy Breen said.

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