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.

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ESG data sheet: Aviation sustainable finance 2022 deal tally set to surpass 2021

The tally of sustainable finance transactions involving airlines or aircraft in 2022 could soon surpass the total number of deals in 2021 more

17/08/2022

in ESG & Regulation

Lessor CEOs: Engine shortages ‘good for us’ as aircraft demand climbs

Ishka reviews some of the key market concerns raised by AerCap, Air Lease Corporation (ALC), Aircastle, Chorus Aviation, and Fortress Transportation and Infrastructure Investors (FTAI Aviation) in their recent earnings calls. more

16/08/2022

in Lessors & Asset managers

15-year-old aircraft values, B787 deliveries resume, Avolon agrees 20 A330neo deal

This is the 81st in a series of supplements to Ishka’s ‘Transaction Economics’ platform, delivering ‘the Ishka View’ on events that have a bearing on aircraft values, lease rates, and the market dynamics that matter, in today’s market environment. more

15/08/2022

in Aircraft values, Lease Rates & Returns

AerCap Q2 2022: OEM delays driving up lease rentals

AerCap is seeing an increased demand for lease extensions and higher lease rates as OEM delays constrain the supply of new aircraft, the lessor said during its Q2 2022 earnings call. more

12/08/2022

in Lessors & Asset managers

Air Transat secures final loan, Hainan Airlines seeks emergency support

Ishka estimates that as of 11th August 2022 governments have introduced $212.11 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. Unconfirmed reports and allocations deemed likely suggest the tally could increase to $223.11 billion. more

11/08/2022

in Airline trends & analysis

Briefing: Beyond the EU, what other sustainable taxonomies do (or could) include aviation?

Ishka investigates the inclusion of aviation in sustainable finance taxonomies to find out where, outside the EU, aviation assets could eventually achieve taxonomy alignment. more

10/08/2022

in ESG & Regulation

Lessors move to deregister SpiceJet Aircraft, ALC confident on SAS narrowbodies

India’s Directorate General of Civil Aviation (DGCA) has been asked by two separate leasing firms to deregister four Boeing 737-800s operated by SpiceJet. more

09/08/2022

in Airline trends & analysis

Flight cancellations disrupt European LCCs’ recovery

Ishka reviews the effect of flight disruptions on the credit profiles of Ryanair, easyJet, Wizz Air, and Jet2. more

08/08/2022

in Airline trends & analysis

ALC Q2 2022: ‘Higher pace’ of lease extensions due to interest rate rise

Air Lease Corporation (ALC) is seeing a “higher pace” of lease extensions “well in advance” of lease expirations for both narrowbody and widebody aircraft due to rising interest rates. more

05/08/2022

in Lessors & Asset managers

A350s values stabilise, A330s see freighter feedstock demand

Ishka’s Aircraft Pricing Benchmark (APB) team review lease rates and values for A350s and 8 year and 16 year old A330s. more

04/08/2022

in Aircraft values, Lease Rates & Returns

Farnborough Freighter Focus: OEMs push in-house conversions

July’s Farnborough Airshow brought with it several developments in the freighter space, as the cargo market continues to attract new aircraft deals. more

03/08/2022

in OEMs, Cargo & Engines

ESG Extra Farnborough Special: UK net zero plan, propulsion advances, e-VTOL hype

This six-page ESG Extra special captures the 2022 Farnborough Airshow sustainability highlights. more

02/08/2022

in ESG & Regulation

5-year-old aircraft values, Air India closes in on 200 aircraft order, Airborne launches new fund

This is the 80th in a series of supplements to Ishka’s ‘Transaction Economics’ platform, delivering ‘the Ishka View’ on events that have a bearing on aircraft values, lease rates, and the market dynamics that matter, in today’s market environment. more

01/08/2022

in Aircraft values, Lease Rates & Returns

Asset managers Q2 2022 update

Ishka's asset managers datasheet provides a summary of recent news, activity and metrics of aircraft asset managers in Q2 2022. more

29/07/2022

in Lessors & Asset managers

Remarketing Watch: Stored aircraft numbers settle following peak season demand

The number of aircraft in storage has begun to level out after a steady decline from the heights of the Covid-19 pandemic, according to Ishka research. more

28/07/2022

in Aircraft values, Lease Rates & Returns

Higher debt costs cause havoc for secondary aircraft market trades

The Fed raised rates by a further 0.75 percentage points yesterday. Leasing sources say aircraft buyers are walking away from secondary market acquisitions negotiated months in advance as rising financing costs overturn return assumptions. more

27/07/2022

in Lessors & Asset managers

Ishka’s take on Farnborough 2022, from order misses to next-gen turboprops

This is Ishka’s take on last week’s headline announcements and some of their finer details, from a step change in the turboprop space to the Boeing vs Airbus order battle. more

26/07/2022

in OEMs, Cargo & Engines

Major US carriers post Q2 profits

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 more

26/07/2022

in Airline trends & analysis

SAS strike ends, Thai Airways submits revised restructuring plan to court

SAS and SAS Scandinavia pilots’ unions have agreed on new 5.5-year collective bargaining agreements, which will see SAS resume flights “as soon as possible.” more

22/07/2022

in Airline trends & analysis

New leasing platforms established since 2020

Ishka notes that 10 new leasing platforms have been established since 2020, including eight during the pandemic, and four in the past two months. more

21/07/2022

in Lessors & Asset managers

Pricing sentiment widens for A320neo and 737 MAX values

Market sentiment around the pricing of leased-encumbered A320neos and 737 MAX 8 have appeared to drop slightly from Q4 2021 to Q1 2022. more

20/07/2022

in Aircraft values, Lease Rates & Returns

Lessor Bonds Q2 2022: Chinese issuers alone in another subdued quarter

Aircraft lessors tracked by Ishka issued a mere $1.45 billion in unsecured capital markets debt during the second quarter of the year, less than half of the $3.2 billion issued during Q1 2022. more

19/07/2022

in Lessors & Asset managers , Capital Markets

10-year-old aircraft values, Jet2 confirms A321neo order, Air T reveals leasing subsidiary

This is the 79th in a series of supplements to Ishka’s ‘Transaction Economics’ service which delivers ‘the Ishka View’ on events that have a bearing on aircraft values, lease rates, and the market dynamics that matter, under today’s market environment. more

18/07/2022

in Aircraft values, Lease Rates & Returns

Airline bonds Q2 2022: Record-low issuances amid summer travel chaos

Airline unsecured bond issuances slowed down further during the second quarter of the year to $4.87 billion, of which only $751 million was issued outside of China. more

15/07/2022

in Airline trends & analysis , Capital Markets

The slide in unlevered sale/leaseback returns

Unlevered returns for new-technology aircraft sale/leasebacks have suffered a significant drop from Q1 2021 to Q1 2022, according to Ishka research, after briefly spiking during the pandemic. more

14/07/2022

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers , Aviation Banks and Lenders

OEM Update: Airbus maintains lead over Boeing ahead of Farnborough Airshow

Ishka provides updates on Airbus and Boeing orders for June and takes a look at the lessor order backlog. more

13/07/2022

in OEMs, Cargo & Engines

Freight business softens Covid blow for Asia Pacific carriers

Ishka reviews some of the key combination carriers in Asia Pacific, where in parts passenger traffic has been virtually non-existent most of 2021. more

12/07/2022

in Airline trends & analysis

ESG Extra: Airports become climate battlegrounds, Amsterdam to cut flights

This is the third in a series of supplements to Ishka delivering ‘The Ishka View’ on aviation ESG and other Sustainability developments. more

11/07/2022

in ESG & Regulation

SVPGlobal acquires all of Deucalion, asset manager targets aircraft from restructurings

Asset manager Strategic Value Partners, LLC and its affiliates (SVPGlobal), have announced that funds managed by SVPGlobal have acquired full ownership of London- headquartered aircraft asset manager Deucalion Aviation Limited (Deucalion) from EnTrust Global (EnTrust). more

09/07/2022

in Lessors & Asset managers

Briefing: How rising rates and swap costs are impacting aircraft sellers

Rising rates and swap costs may mean more aircraft sellers will need to lower prices for some of their lease-encumbered aircraft. more

07/07/2022

in Aircraft values, Lease Rates & Returns , Investor Briefings

Pilot strike pushes SAS to file for Chapter 11 bankruptcy

Scandinavian Airlines (SAS) has filed for Chapter 11 bankruptcy in the United States, citing multiple factors including the impact of Covid-19. more

06/07/2022

in Airline trends & analysis

EC approves SATA’s restructuring aid, Chinese airlines allocated support

Ishka estimates that as of 5th July 2022 governments have introduced $211.89 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. Unconfirmed reports and allocations deemed likely suggest the tally could increase to $220.66 billion. more

05/07/2022

in Airline trends & analysis

15-year-old aircraft values, PIF launches AviLease, Chinese airlines commit to large A320 family orders

This is the 78th in a series of supplements to Ishka’s ‘Transaction Economics’ service which delivers ‘the Ishka View’ on events that have a bearing on aircraft values, lease rates, and the market dynamics that matter, under today’s market environment. more

04/07/2022

in Aircraft values, Lease Rates & Returns , Airline trends & analysis

How Air France and Volaris are prioritising new sustainable aircraft financings

Air France will make sustainable finance a “strong preference” in future aircraft financing RFP processes following the closure of three sustainability-linked transactions earlier this year, Ishka can reveal. more

01/07/2022

in ESG & Regulation , Aviation Banks and Lenders

Sale/leaseback Q2 2022 data sheet

Ishka's data sheet provides a summary of recent sale/leaseback (SLB) transactions, request for proposals (RFP), key figures and active bidders. more

30/06/2022

in Aircraft values, Lease Rates & Returns

Emirates and Qatar Airways see improving fortunes

Ishka takes a look at airline recovery in the Middle East, where Emirates and Qatar have seen improvements in their financial positions. more

29/06/2022

in Airline trends & analysis

LATAM and Garuda have plans approved, Comair collapses

LATAM has its Chapter 11 plan approved, while Garuda obtains confirmation of its PKPU process. more

28/06/2022

in Airline trends & analysis

Elix Aviation becomes Abelo, targets turboprop growth under new leadership

Ishka speaks to Abelo CEO Stephen Gorman on what Elix Aviation’s merger with veteran management team ADARE Aviation Capital means for Elix’s platform and its investment priorities. more

27/06/2022

in Lessors & Asset managers

Summer sale/leaseback tenders test lease rate factors

Bidders in ongoing aircraft sale/leaseback (SLB) airline tenders are starting to see an uptick in lease rate factors on the back of higher interest rates, sources tell Ishka. more

24/06/2022

in Aircraft values, Lease Rates & Returns

Datasheet: Scramble for slots despite mounting conversion costs

Ishka summarises recent developments in the cargo space, including P2F conversion news, waiting times and costs, freighter transactions, and cargo market updates. more

23/06/2022

in Aircraft Asset Profiles , Aircraft Finance Market

SAF update: Europe not yielding to Ukraine-driven HEFA price hike

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

22/06/2022

in ESG & Regulation

Remarketing Watch: Availability down prior to summer, with 737 NG still ahead

Market appetite for used Boeing 737 NGs remains high as low new-tech narrowbody production and delivery delays for the newer 737 MAX sustain NG desirability. more

21/06/2022

in Aircraft values, Lease Rates & Returns

5-year-old aircraft values, Air India negotiates Airbus order, NAC completes restructuring

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

20/06/2022

in Lessors & Asset managers , OEMs, Cargo & Engines

ESG data sheet: SAF offtakes vs airline 2030 commitments

Ishka examines airlines with both sustainable aviation fuel (SAF) offtake agreements and 2030 SAF use targets. more

17/06/2022

in Airline trends & analysis , Investor Briefings

OEM orders: Airbus out delivers Boeing, 787 and A321XLR delays, and the lessor order backlog

Ishka takes a look at some of the issues impacting the two main OEMs and provides updates on the manufacturers’ lessor order backlog. more

16/06/2022

in OEMs, Cargo & Engines

Carlyle tests frozen aircraft ABS market as it prices AASET 2022-1

Aircraft lessor Carlyle Aviation Management Limited (Carlyle) has priced a $522.5 million aircraft ABS – the first aircraft ABS to price this year more

15/06/2022

in Lessors and Lease Rates , Capital Markets

Asset managers update: Dr. Peters launches Backbone, Carlyle issues ABS

Asset managers have been active so far in Q2 2022 with several announced aircraft transactions, asset financing agreements, and staff hires. more

14/06/2022

in Aircraft Finance Market

Slow start to recovery in Southeast Asia

As Southeast Asian markets begin to recover, Ishka takes a closer look at two operators in the region – Thai Airways and AirAsia Group, both of which are in the process of substantially restructuring their businesses. more

13/06/2022

in Airline Profiles

Swap costs and missing ABS market slow aircraft trading

Rising interest rate swap costs and an ongoing freeze in the aircraft ABS market are slowing the trading of leased aircraft, say lessors. more

10/06/2022

in Lessors and Lease Rates , Aircraft Finance Market

Thai AirAsia X enters restructuring, Garuda secures third extension

Southeast Asian carriers are once again in the spotlight after Thai AirAsia X filed for bankruptcy protection on 17th May 2022 and Garuda Indonesia secured an extension to its restructuring proceedings for a third time. more

09/06/2022

in Airline Profiles , Aircraft Finance Market