Ishka Insights: indispensable analysis and opinion
Show:

Stratos contemplates second ABS and discusses 100+ aircraft target

Monaco-headquartered asset manager Stratos is seeking to increase its 41-aircraft portfolio to 60 aircraft by the end of 2021, and potentially over 100 aircraft after 18 months via the addition of narrowbodies and a handful of widebodies. more

15/09/2021

in Lessors and Lease Rates , Aircraft Finance Market

AeroCentury, a short-squeeze standout, exits Ch. 11 with Chinese investors

California-based regional aircraft lessor AeroCentury had its proposed Chapter 11 plan approved. In the meantime, Ishka notes the lessor has been attracting unusual interest from amateur investors. more

14/09/2021

in Lessors and Lease Rates , Aircraft Finance Market

Turboprop lessor Elix launches asset management service

Ishka speaks with Elix Aviation COO John Moore about the firm’s expansions plans, as well as values and lease rate trends for turboprops. more

09/09/2021

in Lessors and Lease Rates , Aircraft Finance Market

ATR prices face challenging recovery as market supply increases

ATR prices are being depressed by an increasing supply of aircraft coming into the market from distressed airlines, according to Ishka’s Pricing Benchmark team. more

08/09/2021

in Aircraft Asset Profiles , Lessors and Lease Rates

Philippine Airlines to reject 21 aircraft and set no-minimum PBH after Ch. 11 filing

Philippine Airlines aims to cut 21 aircraft from its fleet and put all remaining operating leases under no-minimum PBH terms after filing a pre-arranged Chapter 11 bankruptcy protection process. more

06/09/2021

in Lessors and Lease Rates , Airline Profiles

Remarketing Watch: Small positive steps as stored aircraft fall by 11%

More aircraft are continuing to come out of storage as airlines react to a slow return in passenger demand, according to Ishka research. more

03/09/2021

in Lessors and Lease Rates , Aircraft Finance Market

Mid-teenage narrowbodies see falling demand

Mid-teenage narrowbodies are continuing to see muted demand by new operators, with the market blaming competitive pricing on younger vintages for a decline in interest for 16-year-old classics. more

27/08/2021

in Aircraft Asset Profiles , Lessors and Lease Rates

Banks mull NAC aircraft repossessions, airlines continue fleet restructurings

Several banks with secured debt to Nordic Aviation Capital are rumoured to be considering whether to repossess aircraft from the troubled regional aircraft lessor. more

26/08/2021

in Lessors and Lease Rates , Airline Profiles , Aircraft Finance Market

Remarketing Watch data sheets: More aircraft are coming out of storage

This is a new series of reports. Download data sheets with an overview of aircraft currently available on three of the most active aircraft remarketing sites. more

25/08/2021

in Lessors and Lease Rates , Aircraft Finance Market

Remarketing Watch: Lessors impose interest rates on lease extensions and PBH deals

Airlines are continuing to extend power-by-the-hour (PBH) terms or lease deferrals as they wait for a recovery in passenger traffic, which many carriers hope will occur by summer 2022. more

20/08/2021

in Lessors and Lease Rates , Aircraft Finance Market

Asset managers staff up, lessors sign mid-life aircraft deals

This is the second edition of Ishka’s aircraft asset managers report, which tracks recent updates, market moves, and fleet changes of aircraft asset managers in the industry. more

20/08/2021

in Lessors and Lease Rates , Aircraft Finance Market

Engine lessors post Q2 losses but continue to buy discounted engines

Two publicly-listed engine lessors, Willis Lease Finance (Willis) and Fortress Transport and Infrastructure Investors (Fortress), have recorded losses results during the year’s second quarter as the aviation industry continues to be rocked by the Covid-19 crisis. more

18/08/2021

in Lessors and Lease Rates

Lessor CEOs: Airline rent deferral requests slow-down, 'no business case yet' for eVTOL aircraft

Ishka reviews some of the key market concerns raised by AerCap, Aircastle, Air Lease Corporation (ALC) and ALAFCO in their Q2 2021 earnings calls, including deferral requests, OEM delays, aviation’s environmental impact and the future market outlook. more

16/08/2021

in Lessors and Lease Rates , Aircraft Finance Market

ALC Q2 2021: Lessor to 'scale back' aircraft sales due to OEM delays

Air Lease Corporation will be cutting back on aircraft sales for the remainder of 2021, and possibly into 2022, as OEM delays get in the way of its portfolio growth objectives. more

09/08/2021

in Lessors and Lease Rates , Aircraft Finance Market

Prices climb for 2013 vintage 737-800NGs vs A320ceos

Limited availability for 2013 vintage B737-800NGs has seen purchase prices and lease rates for the aircraft type overtake 2013 vintage A320ceos, according to Ishka’s latest pricing benchmark. more

06/08/2021

in Lessors and Lease Rates , Aircraft Finance Market

AerCap sees 9.6% hike in Q2 net income as GECAS merger gets EU approval

AerCap has recorded a steady rise in revenues and net income this quarter, as European regulators approved a planned merger with rival lessor GECAS set to close in Q4. more

03/08/2021

in Lessors and Lease Rates , Aircraft Finance Market

Asset managers chase freighter conversion deals

This is the first edition of Ishka’s aircraft asset managers report, which tracks recent updates, market moves, and fleet changes of the active aircraft asset managers in the industry. more

28/07/2021

in Aircraft Asset Profiles , Lessors and Lease Rates

Remarketing Watch: Airlines negotiating six months minimum of PBH

New leases and lease amendments for passenger aircraft are featuring a minimum of six to nine months of power-by-the-hour (PBH) pricing, third-party aircraft remarketers tell Ishka. more

23/07/2021

in Lessors and Lease Rates , Aircraft Finance Market

A320neo prices stable while 737 MAX 8 values climb slightly

The Ishka Aircraft Pricing Benchmark aims at collecting (anonymously) the market’s view every two months. more

21/07/2021

in Lessors and Lease Rates , Aircraft Finance Market

Trading update: Bocomm reviews off-shore portfolio bids, Castlelake sells Delta 737s

Lessors and aircraft investors are waiting to hear if they have been successfully mandated, or shortlisted, on several portfolios of leased aircraft for sale. more

14/07/2021

in Lessors and Lease Rates , Aircraft Finance Market

Trading update: Avolon signs LOIs for 12 aircraft, GECAS returns with revised portfolio

Lessors state that there has been a resurgence in the secondary aircraft trading market in the last three months as more leasing platforms and asset managers bid to buy leased aircraft. more

09/07/2021

in Lessors and Lease Rates , Aircraft Finance Market

Sale/leaseback market heats up as more Asian lessors chase deals

Ishka reviews the last 18-months of pandemic sale/leasebacks. more

08/07/2021

in Lessors and Lease Rates , Aircraft Finance Market

Lessor bonds: $7bn in Q2 as Chinese issuances increase

Aircraft lessors tracked by Ishka issued nearly $7 billion in capital markets debt during the second quarter, a 24% decline from an exceptionally busy first quarter. more

07/07/2021

in Lessors and Lease Rates , Aircraft Finance Market

New-build A320 and MAX values show first signs of recovery

Young, new technology narrowbody aircraft have seen slight improvements in market value sentiment since the first quarter of the year. more

30/06/2021

in Aircraft Asset Profiles , Lessors and Lease Rates , Aircraft Finance Market

New aircraft ABS deals achieve record pricing as market ‘bounces back’

Four aircraft ABS deals, including one engine deal, have priced in the last four weeks, with deals achieving either record-low or comparable yields to pre-pandemic issuances, despite the stress facing the airline sector due to the Covid-19 crisis. more

28/06/2021

in Lessors and Lease Rates , Aircraft Finance Market

10-year-old aircraft values, Thrust 2021-1 ABS prices, OEMs explore new technologies

This is a regular series from Ishka’s ‘Transaction Economics’ service. It delivers ‘the Ishka View’ on events that have a bearing on the near-term performance of aircraft values, lease rates, and the market dynamics that matter under today’s market environment. more

22/06/2021

in Lessors and Lease Rates , Airline Profiles , Aircraft Finance Market

Ishka Dublin Festival: End of the crisis ‘in sight’ but airlines to suffer losses till 2023

Commercial air travel is forecasted to recover to 88% of 2019 levels by 2022 and 109% by 2023, according to Brian Pearce, chief economist for aviation trade body IATA. Pearce, speaking at the Ishka+ Dublin virtual Festival said “the end of the crisis is in sight” but warned many airlines are still at risk of significant cash burn for the rest of 2021. more

21/06/2021

in Lessors and Lease Rates , Aircraft Finance Market

Remarketing Watch: Airlines say ‘PBH conversation or no conversation’ for new leases

Despite improvements in short-haul leisure travel demand in the last four months, many airlines are negotiating power-by-the-hour (PBH) terms for both new and existing leases, according to panellists speaking at Ishka’s Dublin festival. more

18/06/2021

in Lessors and Lease Rates , Aircraft Finance Market

Hudson files lawsuit against Ares and Wilmington for conducting “sham” aircraft auction

EETC investors Hudson Structured Capital Management (Hudson) and CarVal Investors (CarVal) are suing Ares Management and Wilmington Trust, for an alleged “sham” auction of 10 Boeing 737-800 aircraft. more

14/06/2021

in Lessors and Lease Rates , Regulatory and Accounting

Older aircraft close in on values “floor,” but younger jet prices could fall further

After suffering a period of value realignment since the onset of the pandemic several 20-year-old aircraft types now appear to be reaching a value “floor” where further discounts are unlikely. more

09/06/2021

in Aircraft Asset Profiles , Lessors and Lease Rates , Aircraft Finance Market

SKY achieves record yield on aircraft ABS

Aircraft lessor SKY Leasing (SKY) has closed its $663 million ABS SLAM 2021-1 which achieved a record low yield for an aircraft ABS. more

07/06/2021

in Lessors and Lease Rates , Capital Markets

15-year-old aircraft values, OEMs ramp up production and United's supersonic aircraft order

This is a regular series from Ishka’s ‘Transaction Economics’ service. It delivers ‘the Ishka View’ on events that have a bearing on the near-term performance of aircraft values, lease rates, and the market dynamics that matter under today’s market environment. more

04/06/2021

in Lessors and Lease Rates , Airline Profiles , Aircraft Finance Market

A350 prices firm but older A330 values continue to drop

The Ishka Aircraft Pricing Benchmark aims at collecting (anonymously) the market’s view every two months. Ishka asks market makers, including buyers, sellers and financiers (including lessors, airlines, investors, aviation banks, asset managers, part-out companies, and advisors) their views on the market’s pricing and lease rates. more

02/06/2021

in Lessors and Lease Rates , Aircraft Finance Market

Five-year-old aircraft values, cargo appetite and SLB pressures

This is a regular series from Ishka’s ‘Transaction Economics’ service. It delivers ‘the Ishka View’ on events that have a bearing on the near-term performance of aircraft values, lease rates, and the market dynamics that matter under today’s market environment. more

24/05/2021

in Lessors and Lease Rates , Airline Profiles , Aircraft Finance Market

Remarketing Watch: Lessors confide in a “dark pool” of available aircraft

Third-party aircraft remarketers note an increasing optimism among lessors hoping to place aircraft by April 2022, in time for a return in demand in summer 2022 but also noted the widespread use of power-by-the-hour lease arrangements for many aircraft types. more

21/05/2021

in Lessors and Lease Rates , Aircraft Finance Market

SLB lease rate factors fall to 0.6 (and below) as airlines short-list lessors

Ishka reviews the lease rate factors and pricing for current lessor bids on a number of new Boeing 737 MAX and Airbus A320neo sale/leaseback RFPs for several airlines, including Turkish Airlines, Wizz Air, Flydubai, and Spirit. more

19/05/2021

in Lessors and Lease Rates , Aircraft Finance Market

Lessor CEOs: Rent deferrals down but widebody market remains “challenged”

Ishka reviews some of the key market concerns raised by AerCap, Aircastle and Air Lease Corporation (ALC) in their Q1 2021 earnings calls, including widebody market fortunes, airline restructurings, lessee rent deferrals, the sale/leaseback (SLB) market, and the AerCap-GECAS merger. more

17/05/2021

in Lessors and Lease Rates , Aircraft Finance Market

Fly Leasing Q1 2021: Fly impairments prompt a Q1 loss

Fly Leasing reported a net loss of $3.4 million in Q1 2021 due in part to $22.55 million in aircraft impairments. more

14/05/2021

in Lessors and Lease Rates , Aircraft Finance Market

ALC Q1 2021: Airline restructurings bring ALC profits to six-year low

Air Lease Corporation (ALC) reported a net income of $84 million in Q1 2021, 24% down from the previous quarter and a six-year low, as revenues were hit by the doubling of its cash-basis fleet. more

12/05/2021

in Lessors and Lease Rates , Aircraft Finance Market

A look at 10-year-old aircraft values, lessor optimism and more SLBs

This is a regular series from Ishka’s ‘Transaction Economics’ service. It delivers ‘the Ishka View’ on events that have a bearing on the near-term performance of aircraft values, lease rates, and the market dynamics that matter under today’s market environment. more

10/05/2021

in Aircraft Asset Profiles , Lessors and Lease Rates , Aircraft Finance Market

US majors see uptick in summer bookings after a tough Q1

This report is an excerpt from Ishka’s Airline Credit Profiles (ACP) subscription-based service. It delivers ‘The Ishka View’ on the near-term performance of airlines under today’s extraordinary market circumstances. more

06/05/2021

in Lessors and Lease Rates , Aircraft Finance Market

Ishka+: Aviation finance terms ‘tighten’ but airlines still face worryingly frail recovery

Even under “revenge spending” scenarios debt-laden airlines will still face lengthy return to 2019 ‘normal’. more

05/05/2021

in Lessors and Lease Rates , Aircraft Finance Market

AerCap Q1 2021: Profit recovers in an eventful quarter

AerCap recorded a net profit of $228 million in Q1 2021, lifting the lessor’s profit margin back to the double digits after a loss-making 2020 and amid an eventful quarter. more

04/05/2021

in Lessors and Lease Rates , Aircraft Finance Market

B737-800 prices and lease rates pushed down by the MAX

Lease rates for older single-aisle aircraft (eight-year and 16-year-old vintages) have continued to drop since January 2020 – according to Ishka Pricing Benchmark research. more

30/04/2021

in Aircraft Asset Profiles , Lessors and Lease Rates

​​​​​​​Seraph, GECAS and SMBC named ‘most advantageous’ bidders in PIA tender

Pakistan International Airlines (PIA) has named Seraph, GECAS, and SMBC Aviation Capital ‘most advantageous’ bidders in a competitive tender for eight dry-leased narrowbodies. more

29/04/2021

in Lessors and Lease Rates , Airline Profiles

Lessor bonds: $9.1bn in Q1, Chinese lessors issue $2.1bn in April

Aircraft lessors tracked by Ishka rounded off the first quarter of 2021 with $9.19 billion in bond issuances, a two-fold jump from the previous quarter. more

27/04/2021

in Lessors and Lease Rates , Capital Markets

Fund watch: Dunas signs TAP finance Lease, Oaktree funds Azorra expansion, Vanterra anchors Flight Lease Fund

Dunas Aviation Fund signs a finance lease for Portuguese airline TAP for a newly-delivered A321neoLR. more

26/04/2021

in Lessors and Lease Rates , Aircraft Finance Market

A look at 15-year old aircraft, OEM deliveries pick up, lessors report 2020 losses, Aergo buys ATRs

This is a series of supplements to Ishka’s ‘Transaction Economics’ service. It delivers ‘the Ishka View’ on events that have a bearing on the near-term performance of aircraft values, lease rates, and the market dynamics that matter, under today’s market environment… more

23/04/2021

in Lessors and Lease Rates , Aircraft Finance Market

Chinese majors post significant losses, Indian airlines remove capacity

This report is an excerpt from Ishka’s Airline Credit Profiles (ACP) subscription-based service. It delivers ‘The Ishka View’ on the near-term performance of airlines under today’s extraordinary market circumstances. Drawing on the unique set of ACP’s data points, this report examines which airlines remain stronger credits in the weeks ahead, which airlines are on watch and which are seriously exposed to the ongoing impact of COVID-19. more

21/04/2021

in Lessors and Lease Rates , Aircraft Finance Market

Transaction Economics

Transaction Economics – Aircraft Values and Trading Data

Get real pricing and deals data and dynamic, independent aircraft values from Ishka’s trusted team

Ishka Advisory – Airline Restructuring

We have provided high-level support in business restructuring as well as deep dive analysis on airlines since 1990.

Ishka Insights

Get beyond the headlines with data-driven analysis and the respected Ishka View with Ishka’s daily Insights service

socialise