Ishka insights: indispensable aviation data, analysis and opinion
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On Watch: Canada Jetlines suspends operations, Delhi High Court upholds order for SpiceJet to return engines

Leisure carrier Canada Jetlines has called it quits less than two years into launching services amid mounting financial challenges, while in India, SpiceJet faces another legal challenge after defaulting on lease payments for three engines. more

13/09/2024

in Lessors & Asset managers , Capital Markets

Avolon strikes deal to buy 118 aircraft portfolio from Castlelake

Avolon has agreed to buy a $5 billion, 118-aircraft portfolio held by Castlelake Aviation Limited (CA), an entity created by aircraft asset manager Castlelake. more

13/09/2024

in Lessors & Asset managers

DAE and SKY join Autumn rush of aircraft ABS

Two aircraft lessors, Dubai Aerospace Enterprise (DAE) and Sky Leasing (Sky) are currently in the market with separate aircraft ABS as the public aircraft ABS market shows signs that it might finally be returning in earnest. more

12/09/2024

in Lessors & Asset managers , Capital Markets

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

This is the 14th 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 13th August 2024, Ishka recorded nine new aircraft trades. more

10/09/2024

in Lessors & Asset managers

Doric sells A380s to Emirates, Air Baltic tops up A220 order, Aussie start-up Koala Airlines in Max talks

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

09/09/2024

in Lessors & Asset managers , Other

Aeroflot to settle with aircraft lessors, Fed official signals rate cut

Ishka examines how Aeroflot's plan to agree insurance settlements could impact ongoing litigation from aircraft lessors. more

06/09/2024

in Lessors & Asset managers , Airline trends & analysis , Other

BBAM launches Horizon 2024-1 ABS

Aircraft asset manager BBAM is in the market with a $556 million aircraft, ABS Horizon 2024-1. The new single note deal will be used to acquire a portfolio of 17 new-tech narrowbody aircraft assets. more

04/09/2024

in Lessors & Asset managers , Capital Markets

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

In a new report series, Ishka summarises a list of some of the most active commercial engine buyers in the secondary market. more

28/08/2024

in Lessors & Asset managers , OEMs, Cargo & Engines

Market snapshot: Trading levels, interest rates, and unsecured debt issuances

Ishka's market snapshot data sheet brings together key trends and figures in the aviation finance space. more

22/08/2024

in Lessors & Asset managers , Capital Markets

Lessor order books: ACG and Macquarie Boeing orders hit the books, 33 leasing deliveries in July

Lessors received 33 aircraft from their Airbus and Boeing orderbooks in July, around 28% of total deliveries from the two OEMs. more

21/08/2024

in Lessors & Asset managers , OEMs, Cargo & Engines

Lessor M&A: Will a sellers’ market help platform sales?

Ishka reports on a number of separate M&A campaigns among aircraft lessors. But will the current investor demand for aircraft assets translate into a more benign environment for leasing M&A? more

14/08/2024

in Lessors & Asset managers

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

This is the 13th 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 July 2024, Ishka recorded ten new aircraft trades. more

13/08/2024

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers

Transactions slow as post-pandemic boom begins to level out

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

12/08/2024

in Lessors & Asset managers , Airline trends & analysis

Phoenix prices debut lessor EETC, Embraer deliveries jump in Q2

Phoenix Aviation Capital (PAC) has priced a debut $242 million lessor EETC, PAC 2024-1. more

09/08/2024

in Lessors & Asset managers , Airline trends & analysis

ALC Q2 2024: Boeing strike could slow deliveries, over-ordered airlines will ‘need lessor help’

OEM delays saw Air Lease Corporation (ALC)’s second quarter aircraft deliveries come in at around $600 million below expectations, CEO John Plueger told the lessor’s earnings call on 1st August. more

07/08/2024

in Lessors & Asset managers , OEMs, Cargo & Engines

On Watch: IAG scraps Air Europa Deal, Rex Airlines enters administration

International Airlines Group (IAG) has withdrawn from its agreement with Globalia to acquire Spanish LCC Air Europa (On Watch) following mounting pressure from the European Commission. more

06/08/2024

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers

AerCap Q2 2024: Why engines are driving mid-life demand, lessor buys 36 of Spirit's A320neo family order

Shortages of new aircraft and a desire to avoid expensive engine overhauls on older assets are driving demand for leased aircraft despite apparent softness in some markets, says AerCap CEO Aengus Kelly. more

05/08/2024

in Lessors & Asset managers

Crestone taps $1bn capital potential, eyes wider range of assets

New Crestone CEO Kevin Milligan tells Ishka that the asset manager has invested the bulk of its $458 million initial fund, but states that the firm has access to $1 billion in equity – for the right deals. more

02/08/2024

in Lessors & Asset managers

SLB: IndiGo’s teaser, TAP’s RFP, TUI shortlists lessors

Several airlines have issued financing RFPs in the last few weeks as carriers try to catch the attention of financiers and lessors before the holiday season starts in earnest for the aviation finance industry. more

30/07/2024

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers

A weak Yen forces JOLCO and JOL returns to creep up

Unlevered returns for aircraft JOL and JOLCOs appear to have increased as a weak yen has forced Japanese investors to charge more for equity when funding aircraft investments. more

29/07/2024

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers

Trading Update: Buyers gravitate to older assets

Mid-life and end-of-life narrowbody aircraft were the most traded type on the secondary market over the past twelve months, with Boeing's 737 NG comprising nearly a quarter of all acquisitions. more

26/07/2024

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers

Trading: Lessors mandate aircraft portfolios

Aircraft trading activity is still continuing into July and August, according to sources who confirm that lessors are in the process of mandating buyers for a number of portfolios that came to market in Q2 2024. more

24/07/2024

in Lessors & Asset managers

Aviation ABS Trading: A benign environment for new issuers?

117 aviation ABS tranches tracked by Ishka traded in the last 90 days, accounting for 464 individual trades. more

19/07/2024

in Lessors & Asset managers , Capital Markets

Asset managers Q2 2024 update

Ishka's asset managers datasheet provides a summary of recent news, activity, and metrics of aircraft asset managers in Q2 2024. more

18/07/2024

in Lessors & Asset managers

AIP Capital raises debt as it eyes 737 MAX expansion

AIP Capital is in the process of raising fresh debt, after changing shareholders, as it looks to finance its managed order of incoming 737 MAXs and purchase aircraft on the secondary market. Ishka speaks with AIP Capital's management team. more

17/07/2024

in Lessors & Asset managers , Capital Markets

S7 and Aeroflot pursue lessor settlements, Boeing to plead guilty in DOJ deal

Russian airlines are reportedly nearing new settlements with lessors over trapped aircraft, while Boeing is to plead guilty to criminal charges as part of a plea deal with the US DOJ. more

09/07/2024

in Lessors & Asset managers , Airline trends & analysis , OEMs, Cargo & Engines

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

This is the 12th 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 7th June 2024, Ishka recorded six new aircraft trades. more

08/07/2024

in Lessors & Asset managers

Lessor order books: Nordic Aviation Capital orders A321neos, slashes A220 order

Nordic Aviation Capital became the first lessor to place an order with either Airbus or Boeing so far in 2024, ordering seven Airbus A321neos in May. more

21/06/2024

in Lessors & Asset managers , OEMs, Cargo & Engines

Kahala rebrands as K2 as it looks to ‘scale', Griffin ups revolver

Aircraft lessor Kahala Aviation Group has rebranded as K2 Aviation and tells Ishka it is looking at mid to end-of-life commercial aircraft portfolios as its equity wants to “scale" its aircraft investments. Ishka speaks with the firm’s new managing partner Karl Ryan on what K2 is now targeting. more

12/06/2024

in Lessors & Asset managers , Other

Trading update: ‘Sellers’ market’ persists despite ‘hundreds’ of available aircraft

Lessor speaking at sidelines, and on stage, at the Ishka Aviation Finance Festival in Dublin last month confirmed that “pent-up demand” from lessors unable to acquire aircraft during the pandemic was translating into a premium for lessors seeking to sell aircraft today. more

11/06/2024

in Lessors & Asset managers , Aviation Banks and Lenders

Capital Markets Update: $1.677 billion issued by lessors in May

Lessors tracked by Ishka issued $1.677 billion in unsecured debt in May. more

10/06/2024

in Lessors & Asset managers , Capital Markets

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

This is the 11th 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 1st May 2024, Ishka recorded ten new aircraft trades. more

07/06/2024

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers

MAX production cap to stay in place, FTAI Aviation buys MRO and splits from Fortress

The FAA is unlikely to remove the production expansion cap on the Boeing 737 MAX within the next few months, according to FAA Administrator Michael Whitaker. more

31/05/2024

in Lessors & Asset managers , OEMs, Cargo & Engines

Lessor order books: Will Farnborough Airshow break leasing order drought?

Ishka provides updates on confirmed lessor order books with Airbus and Boeing as of 30th April. more

30/05/2024

in Lessors & Asset managers , OEMs, Cargo & Engines

Asset managers Q1 2024 update

Ishka's asset managers datasheet provides a summary of recent news, activity, and metrics of aircraft asset managers in Q1 2024. more

21/05/2024

in Lessors & Asset managers

Aircraft ABS market ‘open’ but lessors question likely LTVs

Lessors speaking at Ishka’s Dublin Financing Festival last week argued that the ABS market was is now “open” for aviation issuers, with at least two aircraft ABS deals rumoured to be looking to issue before the summer more

20/05/2024

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers

AerCap orders 150 LEAP engines, reports further jumps in A321neo and 787 lease rates

AerCap has seen increases in lease rates of 20% for Airbus A321neos and 10% on Boeing 787-9s either side of the pandemic, according to CCO Peter Anderson. more

16/05/2024

in Lessors & Asset managers , OEMs, Cargo & Engines

Examining lessor portfolios through the lens of Impact’s decoupling milestones

In this joint report, Rob Neale, Chief Product Officer at PACE, and Eduardo Mariz, Senior Analyst and Sustainability Lead at Ishka, examine major lessor portfolios using Impact’s* decarbonisation milestone methodology. more

14/05/2024

in Lessors & Asset managers , ESG & Regulation

ALC Q1 2024: Aircraft shortages keep new technology lease rates high

Lease rates for some new technology Airbus aircraft have grown by up to 15% since 2022, according to ALC CFO Gregory Willis; but in the short term ALC's quarterly results are down, partly driven by an increase in composite financing costs. more

08/05/2024

in Lessors & Asset managers

AerCap Q1 2024: OEM delivery uncertainty ‘most difficult issue we face,’ says Kelly

A lack of certainty around the timing of new aircraft deliveries is the key challenge faced by AerCap today, CEO Aengus Kelly told the lessor’s Q1 2024 earnings call on 1st May. more

07/05/2024

in Lessors & Asset managers

Capital Markets Update: $3 billion raised by lessors in April

Just over $3 billion was issued in April by lessors tracked by Ishka, bringing the total issued so far in 2024 to $9.12 billion. more

03/05/2024

in Lessors & Asset managers , Capital Markets

New lessor: Jeff Lewis leads Korean lessor Hanwha Aviation

South Korean conglomerate Hanwha has officially launched Hanwha Aviation, an aircraft and engine leasing platform based in Singapore. more

03/05/2024

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers

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

This is the 10th 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 19th March 2024, Ishka recorded five aircraft trades and has added a new category to indicate buyers’ interest in aircraft 10 years and older. more

01/05/2024

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers

Asset managers survey: Expected returns tighten for mid-life widebodies

Asset managers surveyed by Ishka state expected unlevered returns have tightened for both mid-life and new-tech aircraft since Ishka’s last survey, conducted in October 2023. more

30/04/2024

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers

Aircraft lessors go to Dublin court over Russian contingent insurance claims

Aircraft lessors are gearing up for a key court hearing with their insurers in Dublin this June, under claims based on their contingent insurance policies for aircraft trapped in Russia. more

24/04/2024

in Lessors & Asset managers , Other

Quick Take: SKY Leasing in the market to sell Sky Fund V, OEMs pay out following narrowbody disruption

Aircraft asset manager SKY Leasing is understood to be in the market to sell its leasing portfolio, Sky Fund V. In the OEM sector, Boeing and RTX have begun arranging compensation packages with airlines affected by airworthiness directives and delivery delays. more

19/04/2024

in Lessors & Asset managers , OEMs, Cargo & Engines

Lessor order books: no new leasing orders in March

Lessors received 28 aircraft from the two major OEMs in March. more

18/04/2024

in Lessors & Asset managers , OEMs, Cargo & Engines