• Airline Credit Profiles
• Transaction Economics (aircraft values, lease rates and transactions)
• ESG and Sustainable Aviation
30/01/2023
NEW YEAR EXPECTATIONS HIGH… – A New Year brings with it new developments. One important development announced last week has been the NASA led initiative for Boeing to work on the development and test-flying of a "full-scale Transonic Truss-Braced Wing (TTBW) demonstrator aircraft".
20/01/2023
In this week’s Ishka View Extra, we review the performance of South Korean airlines in 2022. With passenger traffic gradually building recovery momentum, the air cargo market, which was a saving grace for Korean Air and Asiana, seems to have come under pressure...
16/01/2023
NEW YEAR, OLD FRIENDS, NEW FACES – The A380 and B737 MAX are making return appearances this year, with Emirates already scaling up their A380 operational fleet to over 80 aircraft, while China Southern has finally performed passenger flights with the B737 MAX again...
06/01/2023
Wishing a very Happy New Year to all readers! As we end 2022 and begin 2023, the biggest developments are being driven by China. After three years of severely restricted travel regulations, most of the COVID-related travel restrictions in the country...
January 2023
The sixth edition of the Ishka View Extra: ESG and Sustainable Aviation examines developments during November and December 2022. The ESG Extra delivers the Ishka View on developments including regulation, sustainable finance, and SAF...
19/12/2022
FAREWELL TO ONE, HELLO TO ANOTHER – as reported later in this issue, the last B747 to be built has been rolled out of the Boeing factory, a B747-8F freighter, which is expected to deliver early in 2023, marking the end of a successful and ground breaking aircraft programme...
08/12/2022
In this week’s Ishka View Extra, we turn our attention to the major European LCCs - Ryanair, Wizz Air, easyJet and Jet2, and review their performance during the September 2022 quarter. Like their full-service peers, all have reported a solid quarter, despite disruptions...
05/12/2022
END OF YEAR TRADES – a number of portfolio movements are occurring between established players before 2022 comes to an end, with Aergo acquiring Seraph and its portfolio, DAE completing the acquisition of a SKY fund and its portfolio and Macquarie AirFinance...
28/11/2022
In this week’s Ishka View Extra, we review the Chinese Big 3 airline performance this year and how the ongoing losses have impacted their balance sheets and their prospects in the near term. Unlike most other jurisdictions, China continues to adopt a relatively strict approach...
21/11/2022
NEW AIRCRAFT PRODUCTION TRAILS AIR TRAFFIC RECOVERY… While some airlines are bringing mothballed aircraft back into service, and others are retrofitting whole fleets to extend their lives and to keep their cabins relevant for today’s markets, another group of airlines...
14/11/2022
This week we review the performance of the three major European airline groups, Lufthansa Group, Air France-KLM and IAG. All reported healthy profits in Q3 2022 thanks to strong demand. Higher airfares offset higher operating expenses including high fuel prices, as well as...
07/11/2022
AIR CARGO MARKET – SOFTENING?… Air cargo volumes declined 5% year on year (y/o/y) in September and 8% y/o/y in October, making it eight consecutive months of decline, based on weekly market data as reported by Air Cargo News...
November 2022
The fifth edition of the Ishka View Extra: ESG and Sustainable Aviation examines developments during September and October 2022. The ESG Extra delivers the Ishka View on developments including regulation, sustainable finance, and SAF.
28/10/2022
We continue with our coverage on airlines from Southeast Asia in this week’s Ishka View Extra. In the previous issue, we highlighted how the operating environment for airlines in Thailand, Malaysia, and Vietnam has rebounded positively in 2022 as COVID-related travel restrictions...
24/10/2022
MOMENTUM CONTINUES WITH CARGO AIRCRAFT FLEET GROWTH…The section that writes itself in the TE Extra – Situation report continues to be the ‘Cargo Corner’. Airlines and lessors are continuing to ramp up and position themselves for cargo operations...
17/10/2022
In this week’s Airline Situation Report, we provide an update on certain airlines from Southeast Asia. The operating environment for airlines in Southeast Asia has rebounded positively in 2022 with most countries now free of any travel restrictions for fully vaccinated tourists...
03/10/2022
AND THEN THERE WERE THREE?... After years of Airbus and Boeing competing mainly with each other in the mainstream narrowbody space, COMAC is a step nearer to joining in the game, having achieved CAAC type certification for its narrowbody C919...
26/09/2022
This week we review the FY22 performance of select airlines from Australia and New Zealand. With the two countries maintaining strict border controls for most of the pandemic, international travel to and from the region has been severely curtailed since the COVID-19 pandemic...
19/09/2022
IS THE THREAT OF A GLOBAL RECESSION IMPACTING CARGO DEMAND?... A global recession will eventually dampen passenger demand and have an impact on travel. The cargo market tends to feel it first however, in its metrics, and we are seeing the implications of this...
12/09/2022
KEY TAKEAWAYS… In this week’s airline situation report, we review the H1 2022 performance of select Latin American airlines. Overall, it was a mixed picture - most airlines reported strong topline figures but relatively weak results at operating and net levels, mainly owing to...
05/09/2022
RUSSIA RESHAPING THE GLOBAL FLEET… There has been a hard-hitting observation from Aeroflot, who are committing to a fleet renewal programme using domestically produced aircraft, that Boeing and Airbus aircraft “are unlikely to ever be delivered to Russia again”...
September 2022
This September 2022 issue covers developments during July and August 2022, except for announcements during the 2022 Farnborough Airshow. For those announcements, see the Farnborough Airshow special edition of this series published in early August 2022...
29/08/2022
In this week’s ACP Extra, we examine the recent quarter performance of the US ultra-low-cost carriers - Spirit, Frontier, Allegiant and Sun Country. All four airlines, like the other US carriers, were profitable at an EBITDAR level during the second quarter of 2022, but Allegiant and...
22/08/2022
AIRCRAFT AVAILABILITY TIGHTENING AS TRAFFIC LEVELS GROW… The summer season continues to deliver positive signs, with traffic bouncing back from the worst effects of the pandemic, and with airlines being in a better place regarding revenues and cashflow...
15/08/2022
Following on from our review of the three largest US full-service carriers - Delta, American and United - in July, this week we review the Q2 2022 performance of the country’s other mainline carriers, Alaska Airlines and Hawaiian, along with LCCs Southwest and JetBlue...
08/08/2022
B787 DELIVERIES RESUME... The US FAA has now approved the resumption of deliveries of the B787. After the long production pause, deliveries will help some airlines address their capacity shortage issues. Boeing seems to be making progress, the Farnborough show...
04/08/2022
This is a special edition in Ishka’s ESG Extra supplement series dedicated to 2022 Farnborough Airshow sustainability announcements. It delivers ‘The Ishka View’ on aviation` Environmental, Social, Governance (ESG) and other Sustainability developments...
01/08/2022
Recent months have seen increasing flight disruptions across Europe driven by labour shortages across many parts of the industry, including airline cabin crew, security, and ground handling staff at airports. Airlines and airports, having reduced headcount heavily...
25/07/2022
FARNBOROUGH: THE HEAT IS ON… and not just in weather terms. Farnborough delivered a welcome update on developments in the aviation sector. The traditional Airbus v Boeing order battle was relatively muted, we also saw first-hand some of the potential eVTOL and...
18/07/2022
The three major full-service carriers in the US, Delta, United and American, have all generated profits in the second quarter of 2022 despite ongoing operational challenges emanating from labour shortages, airport disruptions and inflation...
11/07/2022
BACK TO THE FUTURE... It’s the Farnborough Air Show, week commencing July 18th, and the first chance in a long while for many of us in the industry to get acquainted again with the latest developments and technologies that will make the travel experience safer, greener...
04/07/2022
This week we review some of the key combination carriers in Asia Pacific. Passenger traffic has been virtually non-existent in many parts of Asia Pacific for most of 2021, however the combination carriers with their large and well-established cargo units have been able to successfully...
27/06/2022
CHINA MAKES ITS MOVE…the country’s major airlines have committee to nearly 300 more A320neo family aircraft in a move that indicates that Chinese markets are preparing for an improvement in the operating environment...
20/06/2022
This week we turn our attention to the Middle East and review two of the region’s largest carriers, Emirates and Qatar Airways, both of whom have seen a meaningful and positive turnaround in their financial positions. We also review Royal Jordanian and its recovery so far and...
13/06/2022
AIRCRAFT INNOVATION IN THE SPOTLIGHT – As we approach the first physical Farnborough Air Show for four years, attention is switching to the metal - the OEMs and their products, and not just to new variants of existing models but to new, innovative and forward looking...
06/06/2022
In continuation of the theme of the previous Situation Report on the Southeast Asian market, this week we take a closer look at Thai Airways and AirAsia Group, both in the process of substantially restructuring their businesses. The extent of disruption in the region...
30/05/2022
WET LEASE MARKET PROVING VERY HOT THIS SUMMER – demand for air traffic has picked up for most holiday destinations this summer as travellers await their escapes. However, many airlines seem to be facing aircraft and staff shortage problems...
23/05/2022
Following on from the previous Airlines Situation Report which covered the Chinese aviation market, this week we turn our attention to the Southeast Asian region. This region’s airlines have been among the worst affected by the pandemic, with limited air travel recovery...
20/05/2022
The reports by the Transport Committee, the Department for Business, Energy and Industrial Strategy (BEIS)- backed ATI, and the positive conclusion of the UK SAF mandate consultation foreshadow an active remainder of the year for UK legislation tackling the decarbonisation of aviation...
9/5/2022
This week we turn our attention to airlines in China and Hong Kong. Unlike other regions, airline operations in Asia Pacific and China were more disrupted in 2021 (especially in the second half) than in 2020 and as result losses remained sizeable in 2021...
25/4/2022
Following on from the previous edition of our Airline Situation Report, this week we review the performance of the main airlines serving the southern part of the Latin American region, including the major aviation markets in Brazil and Chile....
03/07/2022
The decision by the Dutch government will have a big impact on operations to, and from, Amsterdam Schiphol Airport, one of Europe’s largest international hubs. According to IATA, the airport has already handled 280,000 movements in 2022, putting it on track to...
