Ishka insights: indispensable aviation data, analysis and opinion
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Castlelake markets $819.75 million CLAS 2025-1 ABS

US fund manager and leasing firm Castlelake, L.P. is in the market with an $819.75 million aircraft lease ABS, Castlelake Aircraft Structured Trust 2025-1. more

05/02/2025

in Lessors & Asset managers , Capital Markets

Airlines issue a flurry of SLBs and finance RFPs

Airlines are starting the year with a bang as several have issued financing RFPs for new aircraft deliveries. Ishka notes that many airlines are asking for finance leases as well as sale/leasebacks. Ishka is still in the process of collecting pricing data, but based on initial conversations there appears to be some upward pressure on lease rate factors. more

04/02/2025

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

Aircraft trading: More money but more execution risk for aircraft sellers?

Aircraft sellers welcome the influx of capital in the secondary market but complain about higher execution risk with some buyers walking away from deals. more

02/02/2025

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

DAE and Genesis seal aircraft deals, Boeing's $11.83 billion net loss

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

28/01/2025

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

Carlyle markets $518.3 million AASET 2025-1 ABS

Carlyle Aviation Partners is back in the market with the first commercial aircraft ABS of 2025, the $518.3 million AASET 2025-1. more

27/01/2025

in Lessors & Asset managers , Capital Markets

FTAI Aviation sees stock drop after short seller accusations

FTAI Aviation stock has begun to recover slightly after a dramatic drop last week, which followed allegations of misleading financial reporting by an online research firm. more

23/01/2025

in Lessors & Asset managers

‘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

in Lessors & Asset managers

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

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

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

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

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

in Lessors & Asset managers , Capital Markets

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

in Lessors & Asset managers

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

in Lessors & Asset managers

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

in Lessors & Asset managers , Aviation Banks and Lenders

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

in Lessors & Asset managers

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

in Lessors & Asset managers , Airline trends & analysis

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

in Lessors & Asset managers

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

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

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

in Lessors & Asset managers , Aviation Banks and Lenders

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

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

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

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

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

in Lessors & Asset managers , Other

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

in Lessors & Asset managers

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

in Lessors & Asset managers , Capital Markets

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

in Lessors & Asset managers , Other

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

in Lessors & Asset managers , Other

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

in Lessors & Asset managers , Capital Markets

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

in Lessors & Asset managers

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

in Lessors & Asset managers , OEMs, Cargo & Engines

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

in Lessors & Asset managers

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

in Lessors & Asset managers

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

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

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

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

Lessors release October aircraft portfolios to trade

Ishka reviews the latest crop of aircraft portfolios hitting the market. more

01/11/2024

in Lessors & Asset managers

SAF One’s ‘design one, build many’ – lessor Novus explains its innovative SAF strategy

Ishka sits down with Mounir Kuzbari, Novus’ Co-CEO and SAF One co-founder, to shed light on their innovative strategy. more

30/10/2024

in Lessors & Asset managers , ESG & Regulation

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

This is the 2nd 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. Since the last update on 28th August, Ishka recorded two engine trades among tracked firms and added two new buyers to the list: Arena Aviation Capital and Total Engine Asset Management (TEAM). more

28/10/2024

in Lessors & Asset managers

GA Telesis to buy 23 aircraft from Spirit, Aircastle to sell 22 older NBs

Trading update: GA Telesis has signed a definitive purchase agreement to acquire 23 used Airbus A320ceo and A321ceo aircraft from Spirit Airlines while Ishka examines Aircastle's latest portfolio to come to market. more

25/10/2024

in Lessors & Asset managers , Aviation Banks and Lenders

Are current-tech aircraft lease rates actually sustainable?

Conversations around lease rate sustainability from last week's Ishka Aviation Investival: North America. more

23/10/2024

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

ABS C-notes and retirement bow-wave debate - takeaways from Ishka New York

Two key panel session takeaways from Ishka Aviation Investival: North America, which took place in New York on Tuesday 15th October 2024. more

22/10/2024

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

Asset managers Q3 2024 update

Ishka's asset managers datasheet provides a summary of recent news, activity, and metrics of aircraft asset managers in Q3 2024. more

17/10/2024

in Lessors & Asset managers

PK AirFinance CEO ‘we want to be a serial aircraft loan ABS issuer’

Aviation alt lender Apollo PK AirFinance CEO, Gary Rothschild and President Eelco van de Stadt, talks to Ishka about the process of getting the ratings agencies familiar with the aircraft loan ABS vs lease product, why aircraft e-notes will likely need to evolve, and what the plans are for Perseus Aviation, Apollo’s leasing arm. more

16/10/2024

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

Narrowbody SLB purchase prices ‘settle’ in Q3 2024

Lessors surveyed by Ishka expect new sale/leaseback purchase prices to settle within a relatively constrained band for new campaigns. more

09/10/2024

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

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

This is the 15th 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 10th September 2024, Ishka recorded six new aircraft trades and added Doric as a buyer. more

08/10/2024

in Lessors & Asset managers

Capital Markets Update: lessors raise $4.2 billion in September

Lessors tracked by Ishka raised $4.2 billion in unsecured capital markets debt in September. more

02/10/2024

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

New loans for Castlelake and Abelo, Airlines upgauge orders

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

25/09/2024

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

Current-tech aircraft values: Hitting the top of the market?

Current-tech aircraft values have "peaked and plateaued" argue asset managers, something which has been confirmed by Ishka appraisal team, as airlines react to slower revenues. more

20/09/2024

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

Lessor order books: CDB Aviation orders 130 Airbus and Boeing narrowbodies

Lessor CDB Aviation has announced two large orders for narrowbody aircraft with Airbus and Boeing in a move set to more than triple its total confirmed order book with the two OEMs. more

19/09/2024

in Lessors & Asset managers , OEMs, Cargo & Engines

US Fed rate cut likely to boost aircraft trading

The US Federal Reserve announced yesterday it is lowering the target range for the federal funds rate by half a percentage point to 4.75% to 5%- its first cut in interest rates in four years. more

19/09/2024

in Lessors & Asset managers , Aviation Banks and Lenders