Ishka insights: indispensable aviation data, analysis and opinion
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Cap Markets: CALC and ICBCIL only lessor debt issuers in August

A typically muted August saw just two lessor unsecured bond issuances for a total of $208 million raised for what was the lowest monthly total to date this year. more

26/08/2025

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

Airlines told to issue earlier RFPs if they want JOLCOs, SMBC closes GAEL II fund

Ishka hears that some Japanese arrangers are asking for airlines to issue some RFPs up to a year in advance of delivery amid increased competition and deliveries. more

21/08/2025

in Airline trends & analysis

Challenge Airlines on its leasing needs, a look at Castlelake’s new lending arm

Ishka catches up with Challenge Group’s CFO, Daniel Ganem, and chief investment officer Michael Koish about their financing and leasing needs, and how market values are shaping up for 767s, and older 747s and 777s. more

19/08/2025

in Aircraft values, Lease Rates & Returns , Airline trends & analysis , Aviation Banks and Lenders

Transaction update: Tariff concerns push countries towards Boeing orders, new debt financing facilities launched

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

18/08/2025

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

The 20 airlines which make up 60% of the total value of Airbus and Boeing's disclosed order book

Airbus and Boeing aircraft on order by disclosed, non-leasing customers worldwide sit at around $929.7 billion by Ishka current market values as of the midpoint of 2025 more

13/08/2025

in Airline trends & analysis , OEMs, Cargo & Engines

Sky Airlines put ‘On Watch’ ahead of repayment deadline, VietJet runs out of legal runway

This edition of On Watch provides updates on Sky Airlines, VietJet, Garuda Indonesia, Turkish Airlines and Air Europa. more

11/08/2025

in Airline trends & analysis

Briefing: Why shipping JOLCO investors are coming back to aircraft deals

Japanese investors are returning to aviation JOLCOs after environmental legislative changes, first introduced in 2023, have curbed the attractiveness of ship financings for some Japanese tax investors. more

01/08/2025

in Airline trends & analysis , Aviation Banks and Lenders

Tariff Tracker: Relief for Embraer as aircraft exempted from new 50% Brazil duties

A new executive order, signed by President Trump, exempts aircraft, aircraft parts and their components from the new 50% tariffs being introduced on most Brazilian goods. more

31/07/2025

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

Over half of Embraer backlog destined for US customers

A substantial number of Embraer orders are for US customers - and therefore at risk from increased US tariffs on Brazil. more

30/07/2025

in Airline trends & analysis , OEMs, Cargo & Engines

Boeing orders form part of new US tariff deals

Recent tariff deals made by the US administration have seemingly been a boost for Boeing. more

28/07/2025

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

OEM backlogs: India and US make up a third of non-leasing orders

Ishka takes a look at the Airbus and Boeing backlog as of 30th June 2025. more

15/07/2025

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

Lessors Q2 trading update, Rolls seeks UK support for UltraFan, Scandinavian Airlines's Embraer order

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

10/07/2025

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

Briefing: US tariffs what we know so far

The United States has extended its tariff deadline until August as Ishka examines what has unfolded across the 90-day pause. more

08/07/2025

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

On Watch: Garuda Indonesia lands $405m boost as T’way ownership changes hands

This edition of On Watch provides updates on Garuda Indonesia, Malysia Airlines, T’way Air, VietJet Air and GOL Linhas Aéreas. more

03/07/2025

in Airline trends & analysis

Jet fuel prices climb down after Israel-Iran ceasefire

Oil and jet fuel prices have climbed down from a peak following the de-escalation of the Israel-Iran conflict in the Middle East. more

27/06/2025

in Airline trends & analysis

London High Court rules in favour of lessors in $4.5bn aviation insurance dispute

A London High Court judge has ruled in favour of lessors, finding that losses from Russia’s invasion fall under war risk, not all risks, policies. more

12/06/2025

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

Could AerCap be poised to benefit from potential Spirit Airlines Airbus cancellations?

Spirit Airlines has said it may seek to “postpone or cancel delivery” of certain aircraft currently scheduled for delivery as a result of the impact of tariffs on aircraft and parts costs. more

10/06/2025

in Lessors & Asset managers , Airline trends & analysis

JOLCO investors score win in English court

A judge in the English High Court has ruled in favour of Japanese investors in a dispute with VietJet over four Airbus A320s. more

30/05/2025

in Aircraft values, Lease Rates & Returns , Airline trends & analysis

Quick Take: Azul files for Chapter 11, aviation groups push for tariff clarity and a US appeals court reinstates tariffs

Azul files for Chapter 11 bankruptcy protection as aviation industry groups urge recommitment to zero-tariff rules. Elsewhere, a US federal appeals court has reinstated President Trump’s tariff plans. more

29/05/2025

in Airline trends & analysis , OEMs, Cargo & Engines

Why European regulations are pushing aviation banks towards riskier deals

A group of French Aviation banks are in talks, through various channels, with the European Banking Authority (EBA) to delay or potentially modify part of the incoming Basel 3.1 banking regulations over concerns they are pushing banks to chase riskier deals, and could potentially deter some institutions away from the sector. more

16/05/2025

in Airline trends & analysis , Aviation Banks and Lenders

Tariff tracker: Air India targets 737 MAX aircraft rejected by China

Air India is negotiating with Boeing to acquire ten 737 MAX aircraft initially scheduled for Chinese airlines. more

25/04/2025

in Airline trends & analysis , OEMs, Cargo & Engines

On Watch: US carriers adjust forecasts, Spirit CEO departs, airBaltic restructuring fears

This edition of On Watch provides updates on Spirit Airlines, Air Mauritius, airBaltic and IAG Group. more

16/04/2025

in Airline trends & analysis

Mexican carriers delay aircraft deals in response to tariff uncertainty

Two Mexican airlines appear to be reacting to the uncertainty unleashed by the numerous tariffs introduced by the Trump administration by ‘pausing’ or delaying the introduction of additional capacity. more

11/04/2025

in Airline trends & analysis , ESG & Regulation

Delta outlines tariff impact, Trump pauses higher tariffs for most countries

Delta becomes the first major airline to acknowledge tariff impacts on its fleet plans. Meanwhile, the EU has paused its planned retaliatory tariffs as Trump raises duties on China to 125%, intensifying trade tensions. more

10/04/2025

in Airline trends & analysis , OEMs, Cargo & Engines

Korean Air confirms order for 40 widebodies, BOC Aviation strikes major deals with Boeing and Airbus

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

09/04/2025

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

Airlines go early with RFPs to target Japanese investors

Airlines and lessors are initiating earlier RFP processes amid intensifying competition among lessors for SLB mandates and between lenders (and some lessors) for financing mandates. more

31/03/2025

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

Age is just a number: Why older A320ceo leases rates are converging

Ishka looks to see why age is becoming less important when airlines are sourcing narrowbody capacity. more

28/03/2025

in Lessors & Asset managers , Airline trends & analysis

AerCap CEO spells out tariff cost, more lessors look to part out A320neos

AerCap’s CEO, Aengus Kelly, explained that under a ‘worst-case’ scenario new tariffs could increase the cost of a Boeing 787 by an additional $40 million. more

14/03/2025

in Airline trends & analysis , OEMs, Cargo & Engines

Lessors team to buy A330 portfolio, JSA orders 50 Airbus narrowbodies

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

11/03/2025

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

Lessors warn US tariffs could impact aircraft prices

A panel of aircraft lessor CEOs at ISTAT Americas this week discussed how the inflationary impact of new US tariffs could ultimately increase the cost of new aircraft. more

05/03/2025

in Lessors & Asset managers , Airline trends & analysis

Who were the new airlines of 2024?

This report examines 13 airlines that commenced operations in 2024. more

28/02/2025

in Airline trends & analysis

On Watch: Spirit rejects new Frontier bid as Portuguese government moves to sell 49% of TAP

This edition of On Watch covers recent updates on the following airlines: Spirit Airlines, GOL, Azul, JetBlue, TAP Air Portugal and Air Europa. more

24/02/2025

in Airline trends & analysis

Southwest and BBAM close major sale/leaseback for 36 B737-800s, JSA strikes deal with Cebu Pacific

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

17/02/2025

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

Air Senegal’s leasing dispute and TunisAir’s uncertain future

Two struggling African flag carriers are struggling to survive amid mounting levels of debt. As Air Senegal deals with a lease controversy that has grounded four of its planes, TunisAir is proceeding with its restructuring plan in the face of leadership changes and funding dilemmas. more

13/02/2025

in Lessors & Asset managers , Airline trends & analysis

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

On Watch: Jeju Air parent pulls bond, Spirit extends equity offering deadline

This edition of On Watch covers recent updates on the following airlines: Jeju Air, FlySafair, Spirit, Rex, Kenya Airways, Riyadh Air, Wizz Air and Koala Airlines. more

20/01/2025

in Airline trends & analysis

Curtains drawn: The airline failures of 2024

In this Insight we take our annual look of those airlines that called time during 2024. more

20/01/2025

in Airline trends & analysis , Other

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

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

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

Air India discloses Airbus orders, Boeing resumes 737 MAX production

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

17/12/2024

in Airline trends & analysis , OEMs, Cargo & Engines

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

Doric completes A380 sale, LATAM Airlines debuts first sustainability-linked loan

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

04/12/2024

in Airline trends & analysis , Aviation Banks and Lenders

Spirit enters Chapter 11

Spirit Airlines announced it has entered Chapter 11 bankruptcy proceedings, after months of speculation that the struggling airline would pursue a restructuring. more

18/11/2024

in Airline trends & analysis

Volatility for Australia & New Zealand’s Airlines

In this month’s ACP Extra, Ishka turns its attention to the Australian and New Zealand aviation markets more

12/11/2024

in Airline trends & analysis

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

Boeing’s $10bn credit line, Wafra to buy Aquila, BA’s parts crisis and Azorra raises secured debt

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

21/10/2024

in Airline trends & analysis , Aviation Banks and Lenders

Why Spirit is looking at a potential Chapter 11 scenario

Rumours of Spirit Airlines pursuing a Chapter 11 restructuring have been swirling. more

14/10/2024

in Airline trends & analysis

Spirit’s Chapter 11 rumours, SpiceJet settles with lessors, United to lease 20 A321neos

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

07/10/2024

in Airline trends & analysis , Aviation Banks and Lenders