Data Sheet: Aviation capital markets wrap-up
Ishka's capital market wrap-up is a summary of recent activity in aviation debt issuance.
Lessors raised $5.38 billion via 14 unsecured bond issuances over the past two months (excluding CNY issuances), as issuance volume from leasing firms picks up from the low levels of 2022. May and June saw the return of more Western lessors to the bond market. Air Lease Corporation (ALC) had been the only Western leasing firm to issue debt in the past 18 months, but AerCap returned to the bond market in June while Griffin Global Asset Management completed its first issuance in June.
Airlines, meanwhile, issued $2.25 billion in unsecured and secured debt over the past two months (excluding CNY Issuances) including a $1.3-billion EETC from United Airlines. Japan Airlines and Korean Air Lines were active in the Japanese market, while business jet operator VistaJet and China Airlines issued debt in USD and TWD respectively.
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