Ishka insights: indispensable aviation data, analysis and opinion
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On Watch: Spirit may reject more A320neo leases as airline targets Chapter 11 emergence

As Spirit reviews its fleet in preparation for a potential Chapter 11 emergence, Ishka analyses which lessors are still exposed to the airline's A320neo fleet, as the LCC aims to reshape its fleet around older A320ceos. more

05/03/2026

in Lessors & Asset managers

ME crisis continues, Avolon, K2, Aircastle & Deucalion score in the secondary market, Genesis's new PE mandate, 10-year old Boeing WB values

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

05/03/2026

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

Lessors raise $2.4 billion in unsecured debt in February

Lessors raised $2.4 billion in unsecured debt in February, bringing the total to date for 2026 to $6.25 billion. more

03/03/2026

in Lessors & Asset managers , Capital Markets

Quick Take: Gulf airspaces shut amid Middle East conflict

Extensive airspace closures across the Middle East have followed the US/Israel military strikes on Iran, forcing widespread disruption to airlines operating in the region. more

02/03/2026

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

Transaction Update: DAE agrees to buy Macquarie, aircraft spared new US tariffs, ATSG exits A321 conversion JV, 10-year-old Airbus widebody values

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

27/02/2026

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

DAE beats rivals to acquire Macquarie

Leasing firm Dubai Aerospace Enterprise (DAE) Ltd (DAE) has announced a definitive agreement to acquire 100% of Macquarie AirFinance Limited (MAF) for an approximate enterprise value of $7 billion. more

26/02/2026

in Lessors & Asset managers

Spirit rejections see youngest A320neo teardowns to date

EirTrade Aviation, in partnership with Chicago-based aviation and rail lessor RESIDCO, has purchased two A320neos previously operated by Spirit Airlines, marking the youngest A320neo part-outs to date. more

24/02/2026

in Lessors & Asset managers , Airline trends & analysis

Sprite 2026-1 aircraft freighter lease ABS prices

Sprite 2026-1, the converted freighter aircraft lease ABS from World Star Aviation, has priced. more

20/02/2026

in Lessors & Asset managers , Capital Markets , OEMs, Cargo & Engines

Transaction Update: ACG acquires 24-strong Avolon portfolio, Vietnamese carriers buy big in Washington

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

20/02/2026

in Lessors & Asset managers , Airline trends & analysis , Capital Markets , OEMs, Cargo & Engines , Aviation Banks and Lenders

Ishka / AFG deals of the year submissions now open until 23 February

Ishka and Airfinance Global are now accepting submissions for their combined Deal of the Year Awards. The Deal of the Year Awards celebrate the best-closed aircraft financings of 2025. more

17/02/2026

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers , Airline trends & analysis

Transaction Update: BlueFive Capital launches new leasing platform, influx of ABS issuances continues

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

16/02/2026

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

World Star markets converted freighter aircraft lease ABS

World Star Aviation is in the market with a $495 million aircraft lease ABS, Sprite 2026-1. more

12/02/2026

in Lessors & Asset managers , Capital Markets , OEMs, Cargo & Engines

Marathon and Castlelake aircraft lease ABS deals price

Two aircraft lease ABS, from Marathon Asset Management and Castlelake, have priced after coming to the market this week. more

11/02/2026

in Lessors & Asset managers , Capital Markets

Castlelake markets $843 million aircraft lease ABS CLAS 2026-1

Castlelake is in the market with its first ABS of the year, an $843.279 million aircraft lease securitisation. more

09/02/2026

in Lessors & Asset managers , Capital Markets

Marathon markets $615.18 million MAST 2026-1 aircraft lease ABS

The dual-tranche issuance is the second from Marathon, after the privately placed MAST 2022-1. more

09/02/2026

in Lessors & Asset managers , Capital Markets

2025 lessor unsecured debt: total issuance down, but yields continue to fall

Lessors tracked by Ishka raised $20.18 billion on the unsecured bond markets in 2025, a total around 20% lower than in 2024. more

06/02/2026

in Lessors & Asset managers , Capital Markets

Transaction Update: Lessors hit cap markets, TrueNoord and ACG amend bank deals, five-year-old turboprop values

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

05/02/2026

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

Reminder: Ishka/ AFG deals of the year submissions open!

Ishka and Airfinance Global are now accepting submissions for their combined Deal of the Year Awards. The Deal of the Year Awards celebrate the best-closed aircraft financings of 2025. more

03/02/2026

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers , Airline trends & analysis

Dublin Takeaways: ‘No slow down for aircraft trading’, New Year = New Platforms

The Insights team highlight some of the current themes from the gathering of airlines and lessors in Dublin last week. more

30/01/2026

in Lessors & Asset managers , Investor Briefings

Trump picks new Fed chair, Falko closes $672 mn facility, five-year-old Boeing aircraft values

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

30/01/2026

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers , Airline trends & analysis , Capital Markets , OEMs, Cargo & Engines

High Ridge prices $603.2 million aircraft lease ABS with tight spreads

The debut aircraft lease ABS from High Ridge Aviation has priced. more

28/01/2026

in Lessors & Asset managers , Capital Markets

CVC acquires Marathon Asset Management, two new aviation lending platforms announced

This week has seen several significant announcements across both aircraft equity investments and direct lending platforms. more

27/01/2026

in Lessors & Asset managers , Aviation Banks and Lenders

Willis’ CFO Scott Flaherty talks private credit, engine leasing, and aircraft acquisitions

Ishka sits down with Scott Flaherty, Willis’ CFO, to find out more about the lessor's new asset management arm. more

26/01/2026

in Lessors & Asset managers , OEMs, Cargo & Engines

Quick Take: Castlelake reported as a potential buyer for Spirit Airlines

Spirit Airlines is in talks with Castlelake over a potential takeover, first reported by CNBC and later by Reuters, citing insiders. more

26/01/2026

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

Altavair promotes team as KKR ups stake, PwC Ireland and Avolon share 2026 outlooks

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

23/01/2026

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

TrueAero CEO Karl Drusch: “Over the next three years, our goal is to be a net acquirer of over 150 assets”

TrueAero CEO Karl Drusch tells Ishka the lessor aims to become a net acquirer of more than 150 assets over the next three years, outlining its aircraft and engine acquisition priorities and how continued widebody scarcity is reshaping lease economics. more

21/01/2026

in Lessors & Asset managers

‘Yes, no, maybe’: which lessors are looking to sell aircraft portfolios in 2026

Six lessors have confirmed to Ishka that they plan to sell aircraft portfolios in the first half of 2026. more

20/01/2026

in Lessors & Asset managers

High Ridge markets debut $603.2 million aircraft lease ABS

Phantom 2026-1, a $603.2 million aircraft lease securitisation, is a dual-tranche ABS and the second deal to hit the market in 2026. more

20/01/2026

in Lessors & Asset managers , Capital Markets

Perseus prices $680.11 million lease ABS

MAPS 2026-1, the new aircraft lease ABS from Perseus Asset Management has priced more

19/01/2026

in Lessors & Asset managers , Capital Markets

Perseus markets first aircraft lease ABS of the year

Perseus Asset Management (Perseus) is hitting the ABS market early with the first securitisation of the year – a $680.11 million lease ABS. more

15/01/2026

in Lessors & Asset managers , Capital Markets

Transaction Update: Allegiant agrees to buy Sun Country, airframers up production rates, 5-year old A320ceo values

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

15/01/2026

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

Aircraft Buyers List January 26: Which aircraft are lessors targeting?

This is the 23rd 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

14/01/2026

in Lessors & Asset managers

Transaction Update: AerCap's $1.75bn bond issue, Alaska Airlines goes big on Boeing

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

09/01/2026

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

Call for awards submissions

Ishka and Airfinance Global are now accepting submissions for their combined Deal of the Year Awards. The Deal of the Year Awards celebrate the best-closed aircraft financings of 2025. more

09/01/2026

in Lessors & Asset managers , Capital Markets , Aviation Banks and Lenders

Aviation ABS 2025 roundup – and what to expect in 2026

Just over $10 billion in aviation ABS paper was issued in 2025. more

07/01/2026

in Lessors & Asset managers , Capital Markets

Fund Watch: What new aviation equity funds closed in 2025?

Ishka takes a look back at the fund closes announced throughout last year. more

02/01/2026

in Lessors & Asset managers

Shareholders approve Air Lease acquisition, SMBC AC signs 20-strong United 737 MAX 9 SLB

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

18/12/2025

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

Will PIA’s privatisation finally happen? Venezuela & US tensions cool Caribbean demand

Ishka’s Airline Credit Profile team provide a detailed macro and operational breakdown, aimed at risk officers, for some of the key airlines in the headlines... more

17/12/2025

in Lessors & Asset managers , Airline trends & analysis , Aviation Banks and Lenders

Willis locks in pricing for WEST IX engine ABS

The latest aircraft engine ABS from Willis Lease Finance Corporation (WLFC), WEST IX, has priced with tightened spreads compared to the lessor’s previous issuance this year. more

15/12/2025

in Lessors & Asset managers , Capital Markets , OEMs, Cargo & Engines

Transactions Update: Azorra sells A330s, AerFin confirms five A320neo part-outs

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

04/12/2025

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

Briefing: The current cost of aircraft novations

Lessors hurry airlines to finish novations in time for end-of-year aircraft trading rush. more

04/12/2025

in Lessors & Asset managers , ESG & Regulation , Aviation Banks and Lenders

Cap Markets November: Lessors issue $2.25bn in bonds but volumes still lag 2024

Lessors tracked by Ishka raised $2.25 billion in unsecured debt in November, with bonds issued by AviLease, SMBC Aviation Capital, CDB Leasing, and ICBCIL. more

03/12/2025

in Lessors & Asset managers , Airline trends & analysis , Capital Markets

Castlelake talks widebody shortages, engine returns and its 'substantial' aircraft pipeline

Ishka speaks with Joe McConnell, Castlelake’s deputy co-chief investment officer about aircraft acquisitions plans for next year, how its alt lender subsidiary Merit AirFinance is performing and asks if the lessor has any plans for the engine market. more

26/11/2025

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

Older generation NB values hold firm – but cracks emerging

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

25/11/2025

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

How rising engine LLP prices are increasing MRO costs

Lessors state that revised LLP escalation rates have increased expected maintenance costs for several common narrowbody engine types. Ishka presents a quick review of current MRO costs. more

20/11/2025

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

Carlyle’s AASET 2025-3 prices

The latest aircraft lease ABS from Carlyle Aviation Partners (Carlyle) has priced, achieving yields of 5.301% on its $526.182 series A notes and 5.801% on its $76.254 million series B notes. more

17/11/2025

in Lessors & Asset managers , Capital Markets

Carlyle markets its third aircraft lease ABS of the year

Carlyle Aviation Partners (Carlyle) is back in the aircraft lease ABS market with its third transaction of the year, AASET 2025-3. more

13/11/2025

in Lessors & Asset managers , Capital Markets

ASG comments on WOLF fundraise, the ACMI market and SmartLynx Latvia’s restructuring

Responding to Ishka, Avia Solutions Group (ASG) addresses the sale and recent restructuring of its former subsidiary SmartLynx Latvia. The firm also commented on the ACMI market and answered questions about the firm’s new Dublin-based leasing platform Waypoint Operating Lease Finance (WOLF), currently in the market for a $500 million capital raise. more

12/11/2025

in Lessors & Asset managers , Other

Q3 Bank Survey: LTVs rise as banks compete on terms to win deals

Risk-adjusted margins on new aircraft loans and warehouse facilities dropped again slightly in the past three months, Ishka research shows, driven by tough competition between lenders looking to win financing mandates. more

06/11/2025

in Lessors & Asset managers , Aviation Banks and Lenders