Spreads for actively traded USD airline bonds remain wide compared to both the overall US corporate index (LUACOAS) and lessor bonds. more
The aviation JOLCO market will take one to two years to return to 2019 levels, say Japanese financiers, as airlines worry that that as an avenue for aircraft financing it is effectively “closed” in 2020. more
Long-haul low-cost carriers Norwegian and AirAsia X have in the past two weeks announced plans to trim their widebody fleets to cope with the Covid-19 crisis. more
Wizz Air CEO Jozsef Varadi has reaffirmed the airline’s expansion plans as many of its competitors are “contracting in a big way and creating a market vacuum behind them” due to the effects of Covid-19, creating an opportunity for the low-cost airline. more
In an interview with Ishka, CALC CEO Mike Poon credits China’s upturn, a narrowbody focus, and a disciplined approach to leasing as keys to its enviable H1 2020 performance. more
AirAsia Japan will close its doors on 5th December, the first Japanese carrier to crumble due to coronavirus and under strain from its parent company, AirAsia Group. more
The confirmed state aid tally grew by nearly $5 billion since the last update, with the vast majority attributable to state investments in China Eastern Airlines. more
Spreads remain high on pre-crisis levels on all but A-rated aircraft leasing bond issuances, an Ishka analysis of 251 actively trading lessor issuances has found. more
Several carriers have asked lessors in the last few weeks to take power-by-the-hour leasing agreements (PBH) as a means to reduce costs in preparation for a tough winter for passenger traffic. more
Aircraft lessors flooded back to the bond market in Q3 2020. After tepid issuances in Q2, Q3 total new issuances were the highest of the last seven quarters – and over double the previous quarter. more
The Government of Malta has tabled in parliament an update to the country’s 2010 Aircraft Registration Act to make itself more appealing to lessors. more
In this week’s On Watch report, Ishka provides updates on airlines from Ishka’s On Watch list, this time focusing on Indonesian carriers Lion Air Group and Garuda Indonesia. more
The pursuit of liquidity by North American carriers drove many to the capital markets again in Q3 2020 with $13.5 billion issued – 63% out of the global $21.4 billion in issuances. more
Banks may be increasingly selective as to which deals they agree to underwrite but airlines still managed to raise $33 billion of publicly disclosed commercial bank debt between June and September 2020. more
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