Ishka Insights: indispensable analysis and opinion

Trusted, expert assessment of the latest industry trends from the respected Ishka team, including regional analysis, airlines, lessors and critical emerging issues.

Show:

How FX issues are impacting Japanese aircraft investors, Falko closes NAC trade

Aircraft asset managers confide that currency movements are starting to impact Japanese investor appetite and behaviour when it comes to aircraft investments. Separately Ishka examines UK lessor Falko Regional Aircraft recent acquisition of 24 regional jets. more

18/03/2024

Nordic Market Review – Norwegian, Icelandair and Finnair credit profiles improve in FY 2023

Like the rest of Europe, traffic recovery in the Nordic region was robust and helped the major carriers to return to profitability in FY 2023 except SAS which is operating under Chapter 11 restructuring and remained in the red. more

18/03/2024

SAVi Five: Brazil SAF targets head for approval, new WEF report, and more…

Brazil’s lower house has approved a legislative proposal to require from 2027 that domestic aircraft operators decrease well-to-wake CO2 emissions through the use of SAF. more

15/03/2024

On Watch: Russia airline update, Sri Lankan government incentivises bidders

Two years into Russia’s sanctions, Aeroflot Group [On Watch] is struggling to keep itself afloat as its limited international schedule and settlement payments begin to bite. more

15/03/2024

New-build aircraft values, American’s bumper order, airlines scale back MAX delivery expectations

This is the 119th ‘Extra’ supplement to Ishka’s Transaction Economics platform, delivering ‘the Ishka View’ on events that have a bearing on aircraft values and lease rates, and the market dynamics that matter in today’s aviation environment. more

13/03/2024

GARI 2.0: Under the hood of WFW’s aircraft repossession and deregistration risk tool

Ishka examines Watson Farley & Williams' relaunched, and expanded, Global Aviation Resource Index (GARI), an online tool which covers repossession and deregistration rights in over 100 jurisdictions. more

12/03/2024

Ishka announces 2023 Deal of the Year Award Winners

Ishka presents the full list of its 2023 Deal of the Year Award winners. more

11/03/2024

ISTAT Austin: Lessors CEOs debate peak aircraft shortage and M&A

Aircraft lessor CEOs speaking at the ISTAT Americas conference in Austin in early March discussed rising lease rates, aircraft shortage and potential M&A. more

08/03/2024

Lynx Air declares bankruptcy, JetBlue – Spirit merger falls through

Canadian ULCC Lynx Air has become the first airline casualty of 2024, filing for bankruptcy on 22nd February after just two years of operations. In the United States, JetBlue and Spirit Airlines have officially announced the termination of their merger agreement amid regulatory hurdles. more

07/03/2024

How can lessors help unlock emissions intensity reductions from the current fleet?

In this joint report, Rob Neale, Chief Product Officer at PACE, and Eduardo Mariz, Senior Analyst and Sustainability Lead at Ishka, examine airline sub-fleets with emission intensity disparities. more

06/03/2024

Remarketing Watch Data Sheet: March 2024

The number of aircraft actively remarketed on sites analysed by Ishka – 358 – is around 4% lower than in February 2024. more

05/03/2024

Pressures remain on Vietnamese operators despite 2023 revenue recoveries

Passenger traffic and revenues recovered well in Vietnam in 2023, edging closer to pre-pandemic levels. However, the credit profiles of the country’s three main carriers remained under pressure. more

05/03/2024

Capital Markets Update: Lessors issue $4.7 billion in January and February

Lessors raised $4.7 billion in unsecured issuances in January and February in a strong start to the year for leasing firm activity in the capital markets. more

01/03/2024

Q1 2024 Aircraft Trades: Lessors confirm more competition for older aircraft

Aircraft traders share that there has been more interest in older aircraft as lessors release more portfolios into the market. more

29/02/2024

15-year old aircraft values, Cargo market softens, Tibet Airlines orders 40 COMAC C919s

Welcome to the 119th ‘Extra’ supplement to Ishka’s Transaction Economics platform, delivering ‘the Ishka View’ on events that have a bearing on aircraft values and lease rates, and the market dynamics that matter in today’s aviation environment. more

28/02/2024

AerCap Q4 2023: OEM ramp-up won’t stop aircraft shortage

A return to pre-shock OEM production levels would only be the first step towards steadying a supply-demand imbalance that shows “no signs of ending anytime soon,” AerCap CEO Aengus Kelly told the lessor’s Q4 2023 earnings call. more

27/02/2024

Lessors share concerns over engine MRO wait times and rising costs

Lessors confided there is still a large degree of uncertainty over MRO waiting times, particularly for new-tech engine assets. Ishka examines recent MRO costs and turnaround times. more

26/02/2024

ALAFCO sells more aircraft to Macquarie, Rolls-Royce beats profit projections, stored aircraft levels persist

Kuwaiti Lessor ALAFCO is to sell an additional 23 aircraft from its portfolio to Macquarie AirFinance. more

23/02/2024

On Watch: SpiceJet denied payment extension, VietJet barred from interfering in repossession efforts

SpiceJet [On Watch] has been denied further extensions on its outstanding debt payments to Credit Suisse and ordered by India’s Supreme Court to pay $1.25 million before March 15. more

22/02/2024

OEM Update: Airbus sets 2024 delivery goals after dry January

Airbus will target around 800 commercial aircraft deliveries in 2024. more

21/02/2024

ALC Q4 2023: ‘We are a believer in the 737 MAX and the Boeing company,’ says CEO John Plueger

Air Lease Corporation (ALC) came out in support of Boeing in its earnings call last week and reported record revenues and profits for its fourth quarter and full-year results. more

20/02/2024

Southeast Asian airlines' traffic and revenues in recovery, currency movements and fuel prices offset some gains

Ishka continunes its coverage of the Southeast Asian aviation market, and this week reviews developments in the Malaysian, the Philippines and Indonesian markets. more

19/02/2024

SAVi Five: Aircastle second lessor to join UAV fund, Airbus' new programme details, and more…

United has announced that lessor Aircastle has become the latest leasing entity to join its United Airlines Ventures (UAV) Sustainable Flight Fund, following the steps of Aviation Capital Group earlier in the year. more

16/02/2024

Lessors raised just $1.3bn in funds last year due to ‘brutal’ fundraising environment

Aircraft leasing platforms raised just $1.3 billion through new publicly announced equity funds and joint ventures (JV) in 2023, according to Ishka research. more

15/02/2024

Engine Data Sheet: New-tech fleet status and engine remarketing snapshot - Feb 2024

Ishka's Engine Data Sheet pulls together trends and figures in the engine leasing space.  more

14/02/2024

Did you see it coming? Airline failures of 2023

Ishka summarises the airlines that met their end in 2023, predominantly due to insolvency as well as those who could no longer operate flights due to their required licensing being lost or withdrawn. more

13/02/2024

10-year-old aircraft values, Airbus delivers 30 aircraft in January, Aircastle settles with two Russian airlines

Welcome to the 118th ‘Extra’ supplement to Ishka’s Transaction Economics platform, delivering ‘the Ishka View’ on events that have a bearing on aircraft values and lease rates, and the market dynamics that matter in today’s aviation environment. more

12/02/2024

Boeing forgoes 2024 forecast as criticism continues, further challenges in China

Boeing gave no 2024 production or financial forecasts last week, in its first earnings call since the FAA imposed restrictions on the Boeing 737 MAX production ramp-up following the mid-flight plug door blowout of an Alaska Airlines MAX 9 in early January. more

09/02/2024

Asset managers Q4 2023 update

Ishka's asset managers datasheet provides a summary of recent news, activity, and metrics of aircraft asset managers in Q4 2023. more

08/02/2024

Remarketing Watch Data Sheet: High demand continues to limit current-tech narrowbody availability

This Data Sheet provides a snapshot of aircraft currently being remarketed on three of the main remarketing sites. more

07/02/2024

Sust Finance 2023 round-up: Deals grow with Air France-KLM well ahead of others

Sustainable finance deals in aviation involving airlines and lessors or with aircraft as a collateral grew once again in 2023, matching the approximate 60% annual growth rate of the preceding year. more

06/02/2024

Thai Airways and Thai AirAsia seize demand recovery as rival Nok Air lags behind

Ishka reviews the Thai market. Thai Airways recorded a profit across the first three quarters of 2023 while Thai AirAsia saw revenues exceed pre-pandemic levels in both the second and third quarters. Nok Air’s recovery in 2023 has lagged that of the Thai domestic market. more

05/02/2024

Dublin Takeaways: Traders share their optimism, Boeing’s woes, and could the aircraft ABS market return this year?

Ishka looks at some of the key talking points from aircraft investors on the aviation finance market last week in Dublin. more

02/02/2024

GOL files for Ch.11, Flair's unpaid taxes under scrutiny, SriLankan misses third bond payment

Brazilian airline GOL Linhas Aéreas Inteligentes (GOL) voluntarily filed for Chapter 11 in the US Bankruptcy Court at the end of January in the Southern District of New York. The airline enters Chapter 11 with a financing commitment for $950 million in new debtor-in-possession financing more

01/02/2024

5 year-old aircraft values, Akasa Air orders 150 B737 MAXs, Cargojet cancels B777 freighter expansion

Welcome to the 117th ‘Extra’ supplement to Ishka’s Transaction Economics platform, delivering ‘the Ishka View’ on events that have a bearing on aircraft values and lease rates, and the market dynamics that matter in today’s aviation environment. more

31/01/2024

Aircastle targets over $1bn in aircraft acquisitions for 2024, SMBC partners with CDPQ

Aircastle is planning to acquire in excess of $1 billion in aircraft assets during 2024, traders tell Ishka. According to Ishka’s aircraft buyer’s database, Aircastle will be targeting a combination of both new and mid-life narrowbodies. more

30/01/2024

SAVi Five: Spring Airlines first to debut transition loan in China, first AtJ SAF plant, and more…

Shanghai-headquartered low-cost Spring Airlines has become the first company in China to close a loan aligned with what is reported to be the country’s first transition finance taxonomy. more

29/01/2024

KV Aviation winds down, AerCap hit by cyber attack, HCOB closes first deal

KV Aviation winds down, AerCap hit by cyber attack, HCOB closes first deal more

26/01/2024

‘This won’t be back to business as usual for Boeing’ – FAA halts MAX production expansion over quality control

The Federal Aviation Administration (FAA) has informed Boeing it will not grant any expansion in production of the 737 MAX while it responds to the recent Alaska Airlines plug door blowout. more

25/01/2024

Turkish carriers: SunExpress's expansion plans, THY rebrands lowcost subsidiary

This week Ishka turns its attention to the Turkish aviation market. The country’s largest airlines, Turkish Airlines, Pegasus and SunExpress have leveraged the strong leisure demand and traffic that was present during the summer quarter, reporting among the strongest top and bottom-line results in the industry in Q3 2023. more

24/01/2024

Aircraft Buyers List January 24: Which aircraft are lessors targeting?

This is the 7th edition of Ishka’s aircraft buyers list, where Ishka summarises a list of potential and active buyers of leased aircraft on the secondary market. Ishka recorded seven new aircraft trades and added three new firms to the list since the last update on December 6th 2024. more

23/01/2024

Lessor order books: Avolon moves to head of the pack with 140-strong December narrowbody orders

Ishka provides updates on confirmed lessor order books with Airbus and Boeing as of 31st December. more

22/01/2024

SAVi Five: EU sets sights on ‘Fit for 90’ by 2040, airline EU Taxonomy eligibility in 2023, and more…

Stories covered in this update include reports that the European Commission is set to recommend next month a 90% net reduction of greenhouse gases by 2040, a target that could set in motion a new wave of legislative and regulatory changes. more

19/01/2024

Airlines look to insurance-backed financings, SWAP rates drop further

The latest Ishka’s loan sheet data sheet examines recent loans for commercial aircraft lessors and airlines, and the dynamics impacting aircraft lenders. more

18/01/2024

OEM Update: Airbus again outpaces Boeing in delivery ramp-ups as both hit 2023 targets

Airbus and Boeing each eclipsed their previous year delivery totals in 2023, reaching their delivery targets with a familiar backloaded December push. more

17/01/2024

Trading heats up for aircraft buyers

Ishka notes an increase in aircraft trading activity last year with 31 of the 34 leasing firms monitored by Ishka in its Aircraft Buyers Database managing to acquire at least one aircraft via the intra-lessor market in 2023. more

16/01/2024

New-build aircraft values, Genesis acquires six B737-800s, Year-end order frenzy

Welcome to the 116th ‘Extra’ supplement to Ishka’s Transaction Economics platform, delivering ‘the Ishka View’ on events that have a bearing on aircraft values and lease rates, and the market dynamics that matter in today’s aviation environment. more

16/01/2024

ESG Five: India preps ‘1% to 5%’ by 2027 SAF guidelines, Dutch aviation pleads for cooperation, and more…

Stories covered in this update include reports that the civil aviation ministry of India intends to “recommend” from 2027 that Indian airlines use “1%-5% SAF” starting that year. more

12/01/2024

On Watch: Somaliland to acquire a stake in Ethiopian Airlines, new MRO to service Go First fleet as lessor dispute continues

Ethiopia will grant an undisclosed stake in its state-owned carrier in exchange for access to Somaliland’s coastline, both for commercial and military purposes. more

11/01/2024

Ishka extends 2023 Ishka Deals of the Year Award submissions

After several requests for extensions, Ishka has pushed back the deadline for 2023 deal of the year submissions till the 26th of January. more

10/01/2024