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
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
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
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
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
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
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
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
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
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
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
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
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
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
Second and third-tier carriers eye sale/leasebacks for smaller jets
Ishka provides an update on the sale/leaseback market. more
05/08/2021
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
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
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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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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