Trusted, expert assessment of the latest industry trends from the respected Ishka team, including regional analysis, airlines, lessors and critical emerging issues.
European lessors warn up to 80% of lessees demanding rent holidays
Many European lessors are seeing up to 80% of their airline clients ask for rental holidays, according to leasing sources, as scores of carriers seek to preserve cash. more
03/04/2020
in Lessors and Lease Rates , Aviation financings , Aircraft Finance Market
Covid-19: Airline demands vs government support (2nd April)
Ishka estimates that governments are preparing or executing up to $77.9 billion in bailouts for airlines around the world. more
02/04/2020
Buyers cite EOD clauses to walk away from aircraft deals
Buyers are walking away from nearly completed sales of leased aircraft, explain lessors, as the fall-out of the Covid-19 crisis is causing several deals involving millions of dollars of leased aircraft and engines to fall apart. more
01/04/2020
Viral Capital: Airlines access $2 billion of additional debt a day
Airlines have raised or drawn down another $13.6 billion of debt in the past week – equal to nearly $2 billion of fresh debt a day, a figure that only includes publicly disclosed facilities. more
31/03/2020
US airlines bailout: What does the fine print say?
A $58 billion bailout for US airlines was signed into law by President Donald Trump on 27th March as part of the CARES Act. Ishka examines the provisions for state aid to US air carriers. more
30/03/2020
in Airline Profiles , Regulatory and Accounting , Aircraft Finance Market
Covid-19: Spreads widen on non-Chinese lessor bonds
An analysis of around 270 actively trading lessor bonds shows that spreads are widening for many of the notes issued by the US publicly listed lessors. more
27/03/2020
Covid-19: Airline demands vs government support (26th March)
Ishka updates and expands last week’s summary of airline demands for state support and bailout offers by governments around the world. more
26/03/2020
in Airline Profiles , Modelling and Forecasting , Aircraft Finance Market
Aviation banks retreat to top airlines and say margins have doubled
Aviation banks are still open for business, say financiers, but terms have changed and financing institutions are only supporting existing clients, and key airlines. more
25/03/2020
Viral Capital: Airlines, lessors draw down billions of debt in days
Airlines and lessors have rushed to the debt markets seeking liquidity as the coronavirus pandemic continues to wreak havoc on their revenue streams. more
24/03/2020
in Lessors and Lease Rates , Airline Profiles , Aircraft Finance Market
Covid-19: China domestic recovery only green shoot in Asia-Pacific
Is Covid-19 recovery in China, South Korea and Singapore translating into an air traffic revival? Not quite - only China’s domestic market for now. more
23/03/2020
Lessor portfolio trades in limbo as Covid-19 crisis hits
Lessors indicate that the vast bulk of new aircraft lease placements with airlines have been stopped as carriers ground their fleets to minimise capacity as the Covid-19 pandemic unravels. more
20/03/2020
Covid-19: Airline demands vs government support
Ishka provides a summary of the demands by airlines for state assistance and the current levels of government support and bailouts on offer. more
19/03/2020
in Airline Profiles , Regulatory and Accounting , Aircraft Finance Market
Covid-19: Will African, Middle Eastern airlines survive on state-backing?
Many of the top airlines in both Africa and the Middle East have some form of state backing – a distinct advantage as commercial passenger aviation grinds to a halt across the globe. more
19/03/2020
Covid-19: Brazil extends airline aid as Latin America closes borders
Brazilian airlines are set to receive government aid as countries in Latin America rush to close their borders. more
18/03/2020
Coronavirus likely to “test” ABS servicers
Multiple airline requests for rent deferrals and the stress placed on the airline industry globally as air traffic volumes drops could place a strain on aircraft ABS servicers. more
17/03/2020
GECAS CEO: Coronavirus could cause more lessor acquisitions
Greg Conlon sits down with Ishka to talk about his transition into the CEO role, Alec Burger’s new role as chairman, coronavirus and ABS. more
16/03/2020
A year without the MAX
Ishka reviews how lessors and Boeing's stock have been reacting to the continued MAX grounding. more
13/03/2020
European airlines including Norwegian to be hit hard by US travel ban
A US-imposed 30-day travel ban on passenger flights from European Schengen countries is due to worsen the prospects for around 30 European and North American carriers. more
12/03/2020
Q4 review: Aircastle sees improvement ahead of acquisition
Aircastle finished 2019 with a solid recovery from the impactful demise of two of its biggest lessees in preparation for its merger with affiliates of Marubeni and Mizuho Leasing. more
11/03/2020
Trading gains: Public lessor aircraft sales since 2016
Ishka reviews the trading gains of the public lessors since 2016. more
10/03/2020
ISTAT Austin: Are lessors too relaxed about coronavirus?
Ishka offers key takeaways from the ISTAT Americas 2020 conference in Austin. more
09/03/2020
ISTAT Lessor CEOs: Covid rent deferrals “does not mean blank cheques”
The CEOs of five of the world’s largest aircraft lessors say they are ready to help airline customers weather the Covid-19 travel slump, but not unreservedly. more
06/03/2020
Flybe finally folds
Regional airline Flybe went into administration on 5th March, with lessors already moving to repossess their aircraft and leaving questions around the airline’s valuable Heathrow slots. more
05/03/2020
Fly caps off 2019 selling spree with record results
Fly Leasing posted record financial results in Q4 2019, primarily driven by gains on aircraft sales as the lessor works to reduce its fleet size. more
04/03/2020
White paper: Lessons from historical airline defaults
In a guest white paper, Ed Hansom and JJ O’Toole from Sirius Aviation Capital note the lack of data when examining airline defaults and provide a methodology to create an estimate for historical airline default rates. Their research validates many of the portfolio strategies adopted by lessors to mitigate airline risk. more
03/03/2020
Kenya Airways: Minimal rebound from restructuring
In this Airline Credit Profile, Ishka reviews Kenya Airways, the country’s flag carrier which continues to struggle despite its 2017 financial restructuring. more
02/03/2020
Lessor CEOs: Navigating the coronavirus crisis
Ishka reviews some of the key market concerns raised by the public aircraft lessors – AerCap, Aircastle, Air Lease Corporation and Fly Leasing – in their latest earning calls, including the rising impact of the coronavirus on their lessees. more
28/02/2020
Coronavirus: South Korean airlines take further financial hit
Airlines in South Korea with already debilitated financials are seeing their situation deteriorate due to the coronavirus outbreak. Ishka examines developments at Eastar Jet and Asiana. more
27/02/2020
A320neo lease rates: Airlines reach new ‘high highs and low lows’
Airlines are benefitting from extremely attractive low lease rate factors for new A320neos as both lessors with direct orders from the manufacturers and lessors participating in the sale-leaseback market compete to win deals. more
26/02/2020
EU to add aviation investments to green taxonomy
EU bodies are looking to add aviation to its upcoming green taxonomy, which regulates what debt and public equity investments can be marketed as sustainable to European investors. more
25/02/2020
in Regulatory and Accounting , Capital Markets , Aircraft Finance Market
AerCap ends 2019 with surge in sales
AerCap finished Q4 2019 with a surge in aircraft sales, helping it improve key portfolio metrics and boost dividends. more
24/02/2020
ALC books bumper Q4 trading gains
ALC is celebrating its tenth anniversary with a strong close to 2019. The lessor made good on promises to concentrate trading gains in H2 2019 and is offering sale-leasebacks with Chinese carriers wrestling with the impacts of Covid-19. more
21/02/2020
CDB Aviation transitions its CEO
In an in-depth interview, newly-promoted CDB Aviation CEO Pat Hannigan tells Ishka how the aircraft lessor is on the hunt for both more talent and investment opportunities in 2020. more
20/02/2020
Bailout rumours as coronavirus halves North East Asia capacity
Ishka examines the changing landscape for air travel in North East Asia amid the Covid-19 health emergency. more
19/02/2020
Coronavirus to put pressure on HNA Group airlines' rents
HNA Group airlines have cut delays on lease payments. Financiers are, however, concerned that the coronavirus – which has severely reduced traffic in and out of China – will put pressure on the group’s airlines’ cash flows. more
18/02/2020
Forecast: 1,001 missing 737 MAXs by year end 2022
Ishka’s head of advisory, Eddy Pieniazek and Dickon Harris explain how the grounding of the 737 MAX grounding, has disrupted aircraft delivery forecasts and aircraft lessors’ plans. more
14/02/2020
in Aircraft Asset Profiles , Modelling and Forecasting , Aircraft Finance Market
M&A: How Japan fell in love with aircraft leasing
Japanese firms have been courting aircraft leasing platforms with increasing fervour in recent years, investing at least $14.4 billion since 2018, according to Ishka calculations. more
13/02/2020
Will Qatar Airways help Air Italy’s lessors with their aircraft?
Italian carrier Air Italy ceased operations this week, leaving 12 leased aircraft without an operator. more
12/02/2020
Coronavirus prompts Chinese airlines to seek rental holidays
Chinese airlines are asking lessors for rental holidays to overcome crippled cashflows due to the coronavirus outbreak. more
11/02/2020
Widebody weakness: Is demand for big aircraft declining?
Ishka looks at capacity trends in the mid-haul and long-haul segments for the past 10 years to see whether widebodies are losing routes to smaller aircraft. more
07/02/2020
Current gen engine rents hold steady thanks to MAX grounding
Lease rates for CFM56-5B4, -7B26 and V2527-A5 engines have held firm on the back of constrained narrowbody lift. more
06/02/2020
ATR makes the case for green aircraft financing
ATR is the first commercial aircraft OEM to have delivered an aircraft funded by a green loan. more
04/02/2020
How does coronavirus compare to SARS?
Ishka examines how today’s coronavirus compares to the 2003 SARS outbreak. more
04/02/2020
Carlyle prices first ABS of 2020:AASET 2020-1
Carlyle Aviation (Carlyle) has priced the first aircraft ABS of the year, AASET 2020-1. more
02/02/2020
Impatient capital: Frustrated funds search for leased aircraft
In a follow up report on the state of the current aircraft leasing market, Ishka examines how aircraft funds are looking at opportunities in the aircraft leasing space. more
31/01/2020
Boeing takes $18.6bn MAX beating
The OEM now expects the 737 MAX grounding to cost it $18.6 billion as it looks to offer financial support to airlines and suppliers and eventually begin a possible multi-year catch up to pre-grounding production rates. more
30/01/2020
Lessors trade South African Airways exposure
Lessors with exposure to South African Airways breathed a small sigh of relief after the struggling flag carrier received 3.5 billion rand ($244 million) in emergency funding this week. more
29/01/2020
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
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
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
Investing in Aviation Finance: Japan
Sep 3, 2020
Tokyo, Japan
Reconnect with the market when Ishka returns to Tokyo this September.More info
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