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:

‘We never set out to be the biggest lessor in our space' – Falko CCO Mark Hughes

Falko’s Chief Commercial Officer Mark Hughes talks to Ishka about the firm’s new owners, its strategy, and how it became a leader in the small aircraft space. more

21/01/2025

Ishka extends its Deal of the Year Awards submission deadline

After several requests, Ishka is extending the deadline for Deal of the Year Awards submissions to 21st of February 2025. The awards will be handed out at the Ishka Aviation Finance Festival in Dublin on the 20th of May. more

21/01/2025

Curtains drawn: The airline failures of 2024

In this Insight we take our annual look of those airlines that called time during 2024. more

20/01/2025

Boeing's troubles see total new aircraft deliveries drop for 2024

Total new aircraft deliveries from Airbus and Boeing in 2024 dropped to below 2022 levels. more

17/01/2025

Dublin takeaways: The hunt for metal and returns

An unseasonally warm Dublin saw hundreds from the aviation finance industry gather early this week. Ishka summarises some of the common talking points. more

16/01/2025

Sust Fin round-up: Lessors match airlines in 2024 as total deals dip

Sustainable finance deals involving airlines, lessors, or aircraft as collateral experienced an annual decline last year, the first since 2018, Ishka SAVi data finds. more

15/01/2025

Remarketing Watch Data Sheet: January 2025

The number of aircraft being remarketed on sites analysed by Ishka is around 20% lower than a year ago in January 2024. more

14/01/2025

Transaction Update: SLBs, acquisitions, and orders kick off the year

Ishka's Transaction Update is a report series looking at essential trends, recent deal flow, and key announcements within aviation and aircraft leasing... more

13/01/2025

Lessors tap bond markets for $24 billion in 2024

AerCap was again the big bond issuer of the year in 2024, with $4.65 billion raised on the unsecured bond market. more

10/01/2025

Q4 bank survey: Banks pass on cheaper funding costs to top-tier borrowers

Bank financing costs for top-tier airlines and lessors contracted in the last three months of 2024, while warehouse costs have also tightened, according to research conducted by Ishka. more

09/01/2025

The lessors looking to sell aircraft in 2025/ BBAM agrees 36 aircraft SLB

Ishka can reveal at least six aircraft lessors plan to sell a portfolio of aircraft during the first half of 2025. This insight emerged from December’s aircraft buyers survey, where Ishka asked lessors about their sales plans for the coming period. more

08/01/2025

Does the proposed sale of NAC to DAE signal more lessor consolidation?

On Tuesday, Dubai Aerospace Enterprise (DAE) announced it had signed a definitive agreement to acquire 100% of rival leasing firm, Nordic Aviation Capital (NAC). Prior to its restructuring NAC was the world’s largest regional aircraft lessor but the firm has since been transitioning to narrowbodies. more

07/01/2025

AerFin CEO: 2025 could be another ‘pinch point’ for aircraft retirements

Simon Goodson, CEO of USM trader AerFin, talks to Ishka about the parts shortage and its wider market ramifications. more

06/01/2025

Reminder: Ishka deals of the year submissions open!

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 2024. more

03/01/2025

More alt lenders deals dip below 300bps ‘magical’ barrier

Risk-adjusted margins for aviation alternative lenders contracted in the last three months of 2024 by rough 26 basis points on average versus Q3 2024, according to surveys of aviation financiers conducted by Ishka. more

02/01/2025

Aircraft Buyers List December 24: Which aircraft are lessors targeting?

This is the 17th edition of Ishka’s aircraft buyers list, where Ishka summarises a list of potential and active buyers of leased aircraft on the secondary market. more

31/12/2024

Quick Takes: Things you might have missed

Ishka takes a quick look at some things you might have missed over the last two weeks. more

30/12/2024

All the best for 2025 from the Ishka team!

Ishka is taking a short break over the Christmas and New Year holiday period. We want to thank all our readers for their continued help and engagement with Ishka Insights. Your normal Insights service will resume in January. more

23/12/2024

Engine Buyers List December 24: Which engines are lessors targeting?

This is the 3rd edition of Ishka’s Engine Buyers List, where Ishka summarises a list of some of the most active commercial engine buyers in the secondary market. more

20/12/2024

Spirit - GA Telesis A320 sale approved, Spirit's Chap 11 plan gets court approval, Pegasus Airlines' bumper 737-10 order

The court overseeing Spirit Airlines’ Chapter 11 bankruptcy has approved the sale of the remaining 18 aircraft of the 23-strong A320 family transaction with GA Telesis. more

19/12/2024

JOLCO returns rise further on back of weak yen

JOLCO levered returns have increased in the last four months, according to Ishka research, as Japanese investors are charging airlines more to fund USD assets thanks to continuing currency volatility between the US dollar and the Japanese yen. more

18/12/2024

Air India discloses Airbus orders, Boeing resumes 737 MAX production

Ishka's Transaction Update is a report series looking at essential trends, recent deal flow, and key announcements within aviation and aircraft leasing... more

17/12/2024

BNDES partners with Itasca to finance Azorra E2s, ALC's term loan, GOL files Chap 11 plan

Azorra has signed a R$1.1 billion ($182 million) financing agreement with Brazilian export credit agency BNDES to finance eight Embraer E2 jets to Azorra. more

16/12/2024

Asset managers survey H2 2024: Mid-life aircraft returns strengthen

Asset managers surveyed by Ishka state expected unlevered returns have notably dropped for new- tech narrowbodies and strengthened for both current-tech and new-tech widebodies since Ishka’s last survey, conducted in April 2024. more

13/12/2024

TrueNoord ‘actively looking’ at aircraft orders in 2025

Anne-Bart Tieleman, founder and CEO of TrueNoord, tells Ishka that the regional jet lessor will be “actively looking” at an aircraft order from “one or even two” OEMs in 2025. more

11/12/2024

Arena CEO: Potential 2025 ‘equity gap’ could boost aircraft returns

Arena Aviation Capital CEO Patrick den Elzen talks to Ishka about the aircraft investor landscape, Arena’s busy year for purchases, and a potential equity gap on the horizon in 2025. more

10/12/2024

Capital Markets Update: November issuance scarce, RRPF upsizes secured notes offering

November was an exceptionally muted month for lessor unsecured debt issuance, with CMB Financial Leasing the sole issuer. more

09/12/2024

Ishka 2024 Deals of the Year Award submissions now open!

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 2024. more

06/12/2024

Loan Datasheet: Swap rates stabilise after October volatility, aircraft financing slows

The latest Ishka loan datasheet examines recent loans for commercial aircraft lessors and airlines, and the dynamics impacting aircraft lenders. more

05/12/2024

Doric completes A380 sale, LATAM Airlines debuts first sustainability-linked loan

Ishka's Transaction Update is a report series looking at essential trends, recent deal flow, and key announcements within aviation and aircraft leasing... more

04/12/2024

GA Telesis Chief: ‘We are not flipping the Spirit aircraft’

Marc Cho and Abdol Moabery speak with Ishka about what the Spirit trade means for GA Telesis’ long-term leasing ambitions, and why there is a ceiling on engine LLP escalation. more

03/12/2024

Lessors look to Embraer SLBs, Spanish infra fund books first aviation deal

More aircraft lessors are competing for Embraer aircraft in the sale/leaseback market, according to numerous industry sources. The trend shows that Embraer’s E1 and E2 assets appear to be broadening their appeal beyond a fairly small group of regional jet lessors.Ishka reports on a new Spanish infra fund entering into aviation more

02/12/2024

Current technology narrowbody prices stabilise - Aircraft Pricing Benchmark Q3 2024

Ishka’s Pricing Benchmark looks at lease rates and prices for eight and 16-year-old A320ceos and 737NGs. more

29/11/2024

Aviation ABS trading levels: November 2024

105 aviation ABS tranches tracked by Ishka traded in the last 90 days, accounting for 444 individual trades. more

28/11/2024

Aircraft Buyers List November 24: Which aircraft are lessors targeting?

This is the 16th edition of Ishka’s aircraft buyers list, where Ishka summarises a list of potential and active buyers of leased aircraft on the secondary market. Since the last update on 8th October 2024, Ishka recorded 25 aircraft trades among tracked buyers and added GA Telesis as a buyer. more

27/11/2024

Remarketing Watch Data Sheet: November 2024

The number of aircraft being actively remarketed on sites tracked by Ishka continues to dwindle, and now sits at 307. more

26/11/2024

volofin to return to ABS market in 2025/ WNG shortlists bids

Aviation alt lender volofin anticipates tapping the aircraft loan ABS again in 2025 while aircraft and engine lessor WNG is in the process of evaluating second-round bids for a portfolio of mid-life aircraft and engines. more

25/11/2024

Lessor order books – leasing deliveries constrained in October and September.

Lessors received 16 aircraft from their order books with Airbus and Boeing in October. more

21/11/2024

Airborne Capital and Daiwa Securities Group launch JOL-focused Japanese JV

Leasing and asset manager Airborne Capital has entered into a “transformative partnership” with Daiwa Securities Group, a major Japanese investment bank and securities firm. more

21/11/2024

Update: volofin prices debut aircraft loan ABS - vFin 2024-1

Alternative aircraft lender volofin Capital Management Ltd (volofin) prices debut $507.2 million aircraft loan ABS: vFin 2024-1. more

20/11/2024

Q3 Trading Update: older aircraft and regional jets exchange hands

Pre-2009 aircraft and Embraer regional jets were among the most traded types during Q3, as new tech delivery delays continue. more

19/11/2024

Spirit enters Chapter 11

Spirit Airlines announced it has entered Chapter 11 bankruptcy proceedings, after months of speculation that the struggling airline would pursue a restructuring. more

18/11/2024

New aircraft deliveries – October and September 2024: Boeing strike hits delivery numbers, Airbus sets backloaded 2024 challenge

The impact of Boeing’s recently resolved workers’ strike seems to have materially impacted the manufacturer’s delivery numbers in October, with just nine 737 MAX deliveries during the month. more

15/11/2024

Q3 engine survey: First signs that engine lease rates may be cooling?

Narrowbody engine prices largely stabilised for most types in Q3, but lease rates for several narrowbody engine types have appeared to have fallen slightly since the start of the year, according to Ishka’s latest engine buyers survey. more

14/11/2024

ALC Q3 2024 – airlines expected to increasingly turn to SLB financing

Air Lease Corporation (ALC) expects sustained high market appetite for sale-leasebacks from airlines with large order books as they take delivery of new aircraft, management told the ALC’s Q3 earnings call on 7th November. more

13/11/2024

Volatility for Australia & New Zealand’s Airlines

In this month’s ACP Extra, Ishka turns its attention to the Australian and New Zealand aviation markets more

12/11/2024

Aircraft values: Mid-life narrowbody values plateau in Q3

Mid-life aircraft values stabilised in Q3 despite continued delays of new aircraft deliveries, with rising operational costs and increased lease premiums forcing airlines to revaluate their current capacity. more

11/11/2024

Are JOL/ JOLCO investors warming to Chinese and Indian carriers?

Japanese aviation equity investors show signs that they might be slowly warming to doing deals with Indian airlines. more

07/11/2024

Aviation Alt lenders pricing: spreads continue to compress

Aviation alt lenders tell Ishka that average spreads have continued to compress over the last three quarters of 2024. more

06/11/2024

The idea that lease rates are untenable for airlines is ‘rubbish’ – AerCap Q3 2024 earnings call

AerCap CEO Aengus Kelly dismissed the idea that lease rates are becoming too high for airlines during the lessor’s recent Q3 earnings call. more

05/11/2024