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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Outbreak: The airlines most at risk of coronavirus

Airlines are readying themselves for the potential impacts of a new SARS-like virus spreading from China. Ishka reviews those with highest Chinese exposure. more

28/01/2020

in Airline Profiles

Missing MAXs drive super sellers’ market

Grounded 737 MAXs are likely to drive fewer portfolio sales of leased aircraft this year, predict aviation financiers, as aircraft lessors look set to hold onto more of their leased aircraft assets in order to maintain revenue. more

27/01/2020

in Aircraft Finance Market

777-300ER lease rates hold on the back of 777X delay

Lease rates for midlife 777-300ERs have experienced a very slight decrease according to lessors and remarketers speaking with Ishka, contrary to expectations. more

24/01/2020

in Aircraft Asset Profiles

Lufthansa makes a 2020 return to the JOLCO market

After closing JOLCOs for 19 aircraft last year, Lufthansa, a favoured airline credit among Japanese aircraft equity investors, is currently out in the market with its first JOLCO RFP in 2020. more

23/01/2020

in Airline Profiles , Aircraft Finance Market

Ishka reviews 2019’s start-up airlines

This Insight rounds up the newest arrivals to the aviation industry, specifically those airlines that either commenced operations or were founded in 2019. more

22/01/2020

in Aircraft Asset Profiles , Aircraft Finance Market

What does the future hold for Philippine Airlines?

In this Airline Credit Profile, Ishka reviews Philippine Airlines, the country’s flag carrier which has come under increasing pressure from Cebu Pacific, a local fast-growing low-cost carrier. more

21/01/2020

in Airline Profiles

On watch: Sriwijaya Air reeling from fleet groundings and state debts

Indonesian private carrier Sriwijaya Air is on a mission to bring around half of its fleet back into service after a dispute with former commercial partner Garuda Indonesia in the last quarter crippled its operations. more

20/01/2020

in Airline Profiles , Aircraft Finance Market

The dearly departed: the lost airlines of 2019

In this Insight Ishka summarises the airlines which have closed down during 2019. more

17/01/2020

in Aircraft Finance Market

Fund watch: Aura Group launches series of aircraft leasing funds

Aura Group has closed the first two rounds of fundraising for its debut fund, while Castellan Asset Management seeks investors and Sirius Aviation Capital bags a $100 million investment. more

16/01/2020

in Capital Markets

Avation up for sale

Avation announced last week it could potentially sell the company after it was approached by an “interested party”. more

15/01/2020

in Lessors and Lease Rates

Ishka invites Deals of the Year Award submissions

Ishka is now accepting submissions for its Deal of the Year Awards. The Ishka Deal of the Year Awards celebrate the best closed aircraft financings of 2019. The awards will be handed out at Ishka’s Dublin conference on the 17th and 18th June 2020. more

14/01/2020

in Capital Markets , Aircraft Finance Market

Is Flybe on the brink?

UK media reports that regional airline Flybe is working to acquire emergency funding. more

13/01/2020

in Airline Profiles

Airline bankruptcies compress A330 lease rates even further

An already saturated leasing market for mid-life Airbus A330s has taken a turn for the worse with the addition of 11 A330s from bankrupt airlines. more

10/01/2020

in Aircraft Asset Profiles , Aircraft Finance Market

Recent arrivals: New lessors since 2018

Magnetic MRO is the latest firm to have announced a new leasing platform, Magnetic Leasing. Ishka reviews all of the new lessors established since 2018. more

09/01/2020

in Lessors and Lease Rates

The future of aircraft ABS anchor e-note investors

Ishka examines how tradeable e notes and anchor investors have helped leasing platforms achieve a record year for commercial aircraft ABS deals. more

08/01/2020

in Capital Markets

Airline bonds Q4 2019: $8.7bn raised to end $31.1bn year

Airlines around the world took advantage of low-interest rates to raise $8.7 billion through 48 unsecured bond issuances in Q4 2019. more

07/01/2020

in Airline Profiles , Aircraft Finance Market

Aircraft leasing funds raise billions of fresh equity in 2019

Investors have placed at least $5.6 billion of equity into new aircraft leasing funds in 2019, according to Ishka research. more

06/01/2020

in Capital Markets

Thomas Cook bankruptcy: 65% of leased aircraft redeployed

Two-thirds of Thomas Cook’s UK and Balearics fleets have been re-marketed to new lessees or transferred to the surviving sister German and Scandinavian units. more

03/01/2020

in Aircraft Asset Profiles , Airline Profiles , Home

Aviation investors' concerns for 2020

Ishka presents some of the hot topics we think will be debated by aviation institutional investors during 2020. more

02/01/2020

in Lessors and Lease Rates , Aircraft Finance Market

How the 737 MAX grounding has helped rationalise capacity

The following is an excerpt from Ishka’s VISTA 2020: our new forecast for the year ahead. more

29/12/2019

in Aircraft Asset Profiles , Modelling and Forecasting

Future deliveries update: Asia-Pacific

Ishka provides a guide to aircraft scheduled for delivery to airlines in Asia-Pacific over the next 24 months. more

20/12/2019

in Modelling and Forecasting , Aircraft Finance Market

Airlines on watch: HKA aircraft impounded, Sriwijaya limps on

Ishka reviews recent updates on a range of airlines currently “On Watch” according to Ishka’s Airline Credit Profiles (ACP). more

19/12/2019

in Airline Profiles , Aircraft Finance Market

Lessor bonds 2019: Chinese lessors issue more USD notes

Aircraft leasing companies issued 23.1% new bonds by volume in the first eleven months of 2019 compared with the year before. more

18/12/2019

in Lessors and Lease Rates

737 MAX production halted: what are the effects?

Boeing announced late on 16th December that it will temporarily suspend production of the 737 MAX beginning in January. more

17/12/2019

in Aircraft Asset Profiles , Modelling and Forecasting , Aircraft Finance Market , Market Move

Leased aircraft returns shrink another 50bps in 2019

Unlevered equity returns on leased aircraft have fallen by around another 50 basis points across asset types over the past year, according to a survey of asset managers conducted by Ishka. more

16/12/2019

in Capital Markets

ALAFCO sues Hong Kong Airlines as carrier saves licence

Hong Kong Airlines lives to fly another day after securing emergency funding, but is facing a $34.26 million lawsuit from lessor ALAFCO, along with a parent group with mounting debt. more

12/12/2019

in Airline Profiles

Future deliveries update: North America and Latin America

Ishka provides a guide to aircraft scheduled for delivery to airlines in North America and Latin America over the next 24 months. more

11/12/2019

in Modelling and Forecasting

Airborne Capital prices debut ABS Tailwind 2019-1

Airborne Capital has priced a $637 million ABS, Tailwind 2019-1 (Tailwind) which will be used to acquire a portfolio of 17 aircraft. Airborne is the servicer for the deal. more

10/12/2019

in Capital Markets , Aircraft Finance Market

Future deliveries update: Europe, Africa and Middle East

Ishka provides a guide to aircraft scheduled for delivery to airlines in Europe, Africa and the Middle East over the next 24 months.  more

06/12/2019

in Aircraft Asset Profiles , Airline Profiles

Aircraft ABS: GECAS prices STARR 2019-2

GECAS has priced a $446.337 million ABS, STARR 2019-2 (START III) which will be used to acquire a portfolio of 20 narrowbody aircraft. The portfolio has an average age of 8.4 years and a weighted average remaining lease term of approximately 5.5 years. more

05/12/2019

in Capital Markets , Aircraft Finance Market

Hong Kong Airlines given days to save licence

Hong Kong Airlines has days to secure financing or face losing its operating licence, while a quarter of the troubled carrier’s fleet remains parked or stored, including nine leased aircraft. more

03/12/2019

in Airline Profiles

German investors’ slow entry into aviation

Many German institutional investors are still hesitant about expanding into aviation equity investments, confirmed aviation asset managers at Ishka’s Investing in Aviation Finance Germany conference held in Munich last week. more

02/12/2019

in Investor Education , Aircraft Finance Market

Airlines snapping up aircraft bargains left by HNA

New aircraft not taken up by HNA Group subsidiaries are being leased and purchased at discount prices. more

29/11/2019

in Aircraft Asset Profiles , Lessors and Lease Rates , Airline Profiles

Airbus and Boeing fall short on delivery targets

Boeing has clearly had a terrible year thanks to the MAX grounding, but Airbus also faces its own challenges to meet delivery targets. more

27/11/2019

in Aircraft Asset Profiles

JetSMART well-positioned to leverage low-cost travel growth in Latin America

Ishka reviews JetSMART, a relatively new and upcoming ULCC vying for the immense potential in Latin America’s aviation market. more

26/11/2019

in Airline Profiles

ALC on track to double fleet by 2023

ALC’s 2018 plan to double its fleet by 2023 is progressing full steam ahead as the lessor maintains 2018's pattern for aircraft sales. more

25/11/2019

in Lessors and Lease Rates

Lessor CEOs: Chinese leasing slowdown

Lessor CEOs discuss slowdown from Chinese leasing platforms; 2019’s spate of airline bankruptcies; and weakening demand for the largest widebodies in their Q3 earnings calls. more

22/11/2019

in Lessors and Lease Rates

Lessor CEOs: Boeing ‘helps’ with MAX rentals

The climate crisis’s growing shadow over aviation dominated lessor earnings calls in Q3, as did the fallout from the MAX grounding. more

21/11/2019

in Lessors and Lease Rates

AerCap Q3 2019 results dampened by OEM delays

AerCap reported a strong quarterly profit in Q3 2019, but saw fleet and revenue growth dampened by delivery delays of new aircraft. more

20/11/2019

in Lessors and Lease Rates , Aircraft Finance Market

Marubeni and Mizuho team to acquire Aircastle

Ending months of rumours, Aircastle looks set to be acquired by a Japanese consortium. Ishka examines the merger proposal for the US aircraft lessor. more

19/11/2019

in Aircraft Finance Market

FLY accelerates deleveraging campaign in Q3 2019

Fly is beating its own deleveraging forecast for 2019 after taking on debt to fund its 2018 AirAsia portfolio acquisition. more

18/11/2019

in Lessors and Lease Rates

Used Embraer E190/E195 E1 lease rates to come under pressure

With major E-Jet E1 operators set to phase out the type, many lessors worry lease rates could come under pressure as early as next year. more

15/11/2019

in Aircraft Asset Profiles , Lessors and Lease Rates

TrueNoord’s Tieleman: Asset diversification, new types in ‘our wish list’

TrueNoord CEO Anne-Bart Tieleman speaks to Ishka on the regional aircraft lessor's reincarnation into a bigger entity and its strategy for fleet growth. more

13/11/2019

in Lessors and Lease Rates , Aircraft Finance Market

Shared patterns: An analysis of 737s grounded over pickle forks

Ishka identifies 37 Boeing 737 NGs affected by ‘pickle fork’ cracks as over 1,000 aircraft reach the FAA’s inspection threshold. more

12/11/2019

in Aircraft Asset Profiles , Airline Profiles , Technical Expertise

Shipping sulphur regulations push up jet fuel prices

The premium of jet fuel over crude oil has increased 31.3% since new limits for the sulphur content of marine fuels was announced. more

11/11/2019

in Regulatory and Accounting

Q3 update: European MAX airlines bearish on aircraft’s return

Ishka examines the Q3 announcements of several airlines affected by the MAX grounding and their increasingly pessimistic re-entry outlooks. more

08/11/2019

in Aircraft Asset Profiles , Airline Profiles

BBAM dispenses with anchor investor for HORIZON III ABS

US aircraft lessor BBAM has priced a $440-million ABS, Horizon III (HORZN 2019-2), which will be used to acquire a portfolio of 18 aircraft. more

07/11/2019

in Lessors and Lease Rates , Aircraft Finance Market

Making sense of IndiGo’s 730 aircraft order

Indian low-cost carrier (LCC) IndiGo increased its total Airbus A320neo family orders to a whopping 730 aircraft to date with an additional order for 300 jets. more

06/11/2019

in Airline Profiles , Aircraft Finance Market

ALC drops GAPS/CAPS for TBOLT III

Californian aircraft lessor Air Lease Corporation (ALC) has priced a $437-million ABS, TBOLT 2019-1, which will be used to acquire 19 aircraft. more

05/11/2019

in Capital Markets , Aircraft Finance Market

Boeing CEO survives committee grilling

Spectacle presided over substance as Boeing's CEO faced down US senators and representatives. more

04/11/2019

in Aircraft Asset Profiles

Investing in Aviation Finance & Infrastructure: Europe

Ishka is thrilled to launch this event, covering infrastructure opportunities whilst maintaining a core focus on commercial aviation investment, this will be the only event of its kind in Europe.

Ishka Insight reports

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