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:

SMBC to buy Goshawk for $6.7bn but rejects Russian-leased aircraft

Aircraft lessor SMBC Aviation Capital announced it plans to acquire Dublin-based rival Goshawk Aviation which, if regulatory approval is obtained, will make it the second-largest aircraft lessor by number of aircraft. more

17/05/2022

in Lessors and Lease Rates , Aircraft Finance Market

Chinese airlines lag behind in covid recovery

Airline operations in Asia Pacific and China were particularly impacted in 2021, which resulted in sizable losses in the region. more

16/05/2022

in Airline Profiles

Introducing the Insights Data Library with one-stop data sheets and datasets

Ishka Insights subscribers can now download past data sheets and associated datasets from one convenient place: the Insights Data Library. more

13/05/2022

in Investor Education , Aircraft Finance Market

LATAM nears restructuring finish line, Aeromexico and Hainan Airlines post Q1 losses

LATAM has successfully negotiated with several of its dissenting creditors, bringing its closer to obtaining court approval of its restructuring. more

12/05/2022

in Airline Profiles

Lease rates for 16-year-old A320ceos down, 737 NGs helped by P2F

Lease rates for 16-year-old Airbus A320ceos continued to see a decline during Q1 2022 amid high availability for the type, according to contributors to Ishka’s Aircraft Pricing Benchmark report. more

11/05/2022

in Aircraft Asset Profiles , Lessors and Lease Rates

ALC Q1 2022: Air Lease writes off $802 million Russian fleet

Air Lease Corporation (ALC) reported a $469 million loss for the quarter after it wrote off $802 million in relation to its owned and managed fleet located in Russia. more

10/05/2022

in Lessors and Lease Rates , Aircraft Finance Market

5-year-old aircraft values, Qantas ramps up orders, lessors make Russian aircraft claims

This is the 74th in a series of supplements to Ishka’s ‘Transaction Economics’ service. It delivers ‘the Ishka View’ on events that have a bearing on the near-term performance of aircraft values, lease rates, and the market dynamics that matter, under today’s market environment. more

09/05/2022

in Lessors and Lease Rates , Aircraft Finance Market

MAX return weakens 737NG premium over A320ceo

Ishka’s Pricing Benchmark investigates lease rates and prices for eight-year-old A320ceos and 737NGs. more

06/05/2022

in Aircraft Asset Profiles , Lessors and Lease Rates

ESG Extra: UK makes strides in aviation decarbonisation plans

The second edition of the Ishka View Extra: ESG and Sustainable Aviation examines developments during March, April, and early May. more

05/05/2022

in Investor Education , Aircraft Finance Market

Lessor orders favour Airbus, Boeing boosted by legacy airlines

Net aircraft orders for the two largest OEMs have begun to recover for the first time since the onset of the pandemic as passenger demand improves and travel restrictions ease. more

04/05/2022

in Lessors and Lease Rates , Aircraft Finance Market

Latin American airlines’ north-south recovery divide

This week Ishka reviews the performance of the main airlines serving the southern part of the Latin American region, including the major aviation markets in Brazil and Chile. more

03/05/2022

in Airline Profiles

ESG data sheet: Lessors now committed to over 1,225 e-VTOLs

Lessors and asset managers have gone from zero to over 1,225 e-VTOL commitments in under 12 months, marking the incursion of aircraft leasing into a new domain - but their decarbonisation role may be limited. more

29/04/2022

in Lessors and Lease Rates , Aircraft Finance Market

Lessors prep for legal battle over Russian insurance claims

Lessors are bracing themselves for legal battle over insurance claims for aircraft trapped in Russia, with some having already submitted claims, explain several sources to Ishka. more

28/04/2022

in Aircraft Finance Market

Lessor Bonds Q1 2022: Issuers retreat with USD bonds lowest since 2019

Aircraft lessors tracked by Ishka issued a modest $3.2 billion in unsecured capital markets debt during Q1 2022, a steep decline from Q4 2021. more

27/04/2022

in Lessors and Lease Rates , Capital Markets

NAC finally gets restructuring plan approval

Regional aircraft lessor Nordic Aviation Capital (NAC) is set to emerge from Chapter 11 proceedings in the United States by the end of May after a bankruptcy court approved its restructuring plan on 19th April. more

26/04/2022

in Lessors and Lease Rates

10-year-old aircraft values, EASA ends ‘preighters’, Russia accelerates aircraft production

This is the 73rd in a series of supplements to Ishka’s ‘Transaction Economics’ service. It delivers ‘the Ishka View’ on events that have a bearing on the near-term performance of aircraft values, lease rates, and the market dynamics that matter, under today’s market environment. more

25/04/2022

in Lessors and Lease Rates , Aircraft Finance Market

Airline bonds Q1 2022: Unsecured issuances slow outside of China to only $1.8bn

Airline unsecured bond issuances outside of China slowed down during the first quarter of the year in the wake of rising inflation, monetary tightening, and the fallout of Russia’s invasion of Ukraine. more

22/04/2022

in Airline Profiles , Capital Markets

Lessors pin hopes on recovery of twin-aisle values and lease rates

Older widebodies (WB) are trading at significantly depressed prices, according to contributors to Ishka’s Aircraft Pricing Benchmark, but lessors believe values will recover. Ishka's Pricing Benchmark team examines aircraft values and leases rates for new A350s and eight-year-old and 16-year old A330-300s. more

21/04/2022

in Aircraft Asset Profiles

Asset managers Q1 2022 update

Ishka's asset managers datasheet provides a summary of recent news, activity and metrics of aircraft asset managers in Q1 2022. This datasheet is the third of Ishka’s new asset managers quarterly coverage. more

20/04/2022

in Lessors and Lease Rates

Mexican LCCs boosted by strong US traffic

This report is the seventy-fifth in a series of supplements to Ishka’s Airline Credit Profiles (ACP) subscription-based service. It delivers ‘The Ishka View’ on the near-term performance of airlines under today’s extraordinary market circumstances. more

19/04/2022

in Airline Profiles

AerCap leads fall in 2021 aircraft impairments compared to 2020

Aircraft impairments recorded by 11 lessors analysed by Ishka totalled $738 million in the 2021 financial reporting period, around half of the $1.5 billion recorded by the same lessors in 2020. more

14/04/2022

in Aircraft Finance Market

Ishka's guide to the EU Taxonomy proposal for aircraft leasing

In this third edition of Ishka’s ESG data sheet, Ishka examines the latest EU Taxonomy technical screening criteria (TSC) proposal for air transport including aircraft leasing, airlines, and manufacturers. more

13/04/2022

in Investor Education

Financing survey: Aviation banks confirm rising funding costs

Several European aviation bankers confirm to Ishka that their funding costs increased in the first quarter of 2022 in the wake of rising interest rates and general market volatility in the capital markets following the Russian invasion of Ukraine. more

12/04/2022

in Aircraft Finance Market

15-year-old aircraft values, AerCap’s $3.5bn insurance claim, OEMs face production rate decisions

This is a series of supplements to Ishka’s ‘Transaction Economics’ service. It delivers ‘the Ishka View’ on events that have a bearing on the near-term performance of aircraft values, lease rates, and the market dynamics that matter, under today’s market environment. more

11/04/2022

in Lessors and Lease Rates , Aircraft Finance Market

Aeromexico emerges from Chapter 11, LATAM sets its sights on 2022 exit

Aeromexico emerged from Chapter 11 bankruptcy process on 17th March 2022, after 20 months of financial restructuring. Elsewhere, LATAM continues to be at odds with some of its unsecured creditors. more

08/04/2022

in Airline Profiles , Aircraft Finance Market

Airlines get $434m in pandemic-related state aid over past six weeks

This is the 54th updated summary of airline state aid during the Covid-19 crisis. Ishka estimates that as of 7th April 2022 governments have introduced $208.95 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. more

07/04/2022

in Aircraft Finance Market

Ishka ESG: Investors ring warning bells for aviation, SAF takes centre stage

Ishka summarises some of the key takeaways from its first ESG-dedicated conference held last week in London, as well as ESG concerns by investors and lenders during the prior investor-focused event. more

06/04/2022

in Investor Education , Aircraft Finance Market

Ukraine crisis prompts lessors to reassess ‘emerging market’ risk

Lessors and asset managers confide that the Russian-Ukrainian war has prompted internal credit committees to “reassess all emerging market risk”, contrary to efforts by some large leasing entities to downplay the effects of the Russian invasion. more

05/04/2022

in Aircraft Finance Market

Rising fuel costs put pressure on ticket prices

This report is an excerpt from Ishka’s Airline Credit Profiles (ACP) subscription-based service. It delivers ‘The Ishka View’ on the near-term performance of airlines under today’s extraordinary market circumstances. more

04/04/2022

in Airline Profiles

AerCap sees ‘timing mismatch’ between $3.5bn Russia claim and looming impairment

AerCap is expecting a “timing mismatch” between an impairment on assets that remain in Russia (and possibly some removed from Russia) and recoveries from related insurance claims worth $3.5 billion. more

01/04/2022

in Lessors and Lease Rates , Aircraft Finance Market

An investor’s guide to aircraft impairments: IFRS vs. US GAAP

In a guest report, Niamh Tobin, a director at EY, explains when aircraft lessors may need to report aircraft impairments under IFRS and US GAAP. more

31/03/2022

in Investor Education

Why the non-CO2 effects of aviation are now under the EU microscope

High-level EU aviation stakeholders at a conference in Brussels this week shared that growing attention is being paid to the non-CO2 effects of aviation, which until now have taken a backseat in environmental policies for the sector. more

30/03/2022

in Investor Education , Aircraft Finance Market

SAF update: Ukraine crisis causes price spike, maintaining jet fuel spread

From sustainable aviation fuel (SAF) prices to capacity developments, Ishka provides a summary of some of the points covered in its latest SAF webinar with Argus Media. more

29/03/2022

in Investor Education , Aircraft Finance Market

Remarketing Watch: Trapped Russian aircraft costs ‘could take years’ to resolve

Aircraft remarketers talking to Ishka state that the costs associated with leased aircraft trapped in Russia due to Western sanctions following the Russian invasion of Ukraine could take years to resolve. more

29/03/2022

in Lessors and Lease Rates , Aircraft Finance Market

5-year-old aircraft values, Russian re-registrations, lessors look to recover aircraft

This is the 71st in a series of supplements to Ishka’s ‘Transaction Economics’ service. It delivers ‘the Ishka View’ on events that have a bearing on the near-term performance of aircraft values, lease rates, and the market dynamics that matter, under today’s market environment. more

28/03/2022

in Aircraft Asset Profiles , Aircraft Finance Market

KPMG forecasts 15 to 30-year SAF ‘heyday’ window

New propulsion technologies in development today could mean that SAF’s heyday is concentrated in a 15 to 30-year regulatory-driven window, new modelling by KPMG Ireland suggests. more

25/03/2022

in Regulatory and Accounting , Investor Education

Bank-led aviation carbon initiative Impact names board and president

Impact, a new aviation finance association dedicated to achieving Net Zero CO2 emissions by 2050, has announced its founding board and president as it formally launches this week. more

24/03/2022

in Regulatory and Accounting , Aircraft Finance Market

Ukraine crisis freezes aircraft ABS market

The continuing Russian invasion of Ukraine has caused the aircraft ABS market to freeze as investors and ABS sponsors digest how the crisis will impact the aircraft leasing sector. more

23/03/2022

in Aircraft Finance Market

On Watch: The airlines at the centre of the Russia-Ukraine crisis

The Russia-Ukraine conflict is shaping up to be one of the biggest shocks to the airline industry since the start of the pandemic, and it puts question marks over the short and medium-term continuity of airlines in countries that are party to the conflict. Ishka identifies the airlines likely to be most severely impacted. more

22/03/2022

in Airline Profiles

US LCCs continue to recover, Russia moves to register foreign aircraft

This report is an excerpt from Ishka’s Airline Credit Profiles (ACP) subscription-based service. It delivers ‘The Ishka View’ on the near-term performance of airlines under today’s extraordinary market circumstances. more

21/03/2022

in Airline Profiles

Aviation insurance and the fallout from sanctions on Russia

Ishka examines aviation insurance policies and reflects on the potential outcomes for aircraft lessors exposed to Russian airlines following the Ukraine invasion. more

18/03/2022

in Aircraft Finance Market

ESG Extra: Hydrogen goes full steam in February

This is the first in a series of special supplements delivering ‘The Ishka View’ on aviation ‘Environmental, Social, Governance’ (ESG) and other sustainability developments. more

17/03/2022

in Investor Education , Aircraft Finance Market

Wheels on the ground: The stored aircraft facing up to reality

The Covid-19 pandemic forced the grounding of thousands of aircraft, in many cases to never be operated again. Two years on from the beginning of global Covid-19 travel restrictions, Ishka takes a look at the currently parked fleet and assesses what proportion of these aircraft will return to revenue service. more

16/03/2022

in Modelling and Forecasting

ESG data sheet: Green and sustainable finance for airlines and aircraft

In this second edition of Ishka’s ESG data sheet, we expand our coverage to include all publicly-announced airline or aircraft-related green and sustainability-linked financings to date. more

15/03/2022

in Investor Education , Aircraft Finance Market

ISTAT Americas 2022: Russia-Ukraine conflict, SLBs, interest rates and ESG

Ishka looks at some of the key discussion topics from the ISTAT Americas 2022 conference last week, including the Russia-Ukraine conflict, a competitive sale/leaseback market, rising interest rates and ESG. more

14/03/2022

in Lessors and Lease Rates , Aircraft Finance Market

10-year-old aircraft values, Russian airlines have Bermudan CoAs suspended

This is a series of supplements to Ishka’s ‘Transaction Economics’ service. It delivers ‘the Ishka View’ on events that have a bearing on the near-term performance of aircraft values and lease rates. more

14/03/2022

in Airline Profiles , Aircraft Finance Market

Sale/leaseback Q4 2021 & Q1 2022 QTD data sheet

Ishka’s data sheet provides a new quarterly summary of recent sale/leaseback transactions and key metrics. more

11/03/2022

in Lessors and Lease Rates

Thai back in the black after asset disposal, LATAM provides fleet update

Ishka provides updates on airlines from Ishka’s Restructuring list including Thai Airways' return to profitability in 2021, and fleet updates for Thai and LATAM. more

10/03/2022

in Airline Profiles , Aircraft Finance Market

ISTAT CEO panel: Russia-Ukraine will not diminish potential narrowbody shortage

A panel of CEOs representing some of the world’s largest aircraft lessors tackled some of the industry’s most pressing topics at the ISTAT Americas conference in San Diego. more

09/03/2022

in Lessors and Lease Rates , Aircraft Finance Market

Lessor CEOs: Russia repercussions, interest rate anticipation, freighter curiosity

Ishka reviews some of the key market concerns raised by Aircastle, Air Lease Corporation (ALC), ALAFCO, and Avation in their recent earnings calls. more

08/03/2022

in Lessors and Lease Rates , Aircraft Finance Market