Avianca emerges from Chapter 11, LATAM submits restructuring plan
Colombian airline group Avianca Holdings announced on 1st December it has successfully emerged from its Chapter 11 bankruptcy process, a month after a US court approved its reorganisation plan. more
07/12/2021
EU state aid framework extended to mid-2022, KLM and BA get support
This is the 50th updated summary of airline state aid during the Covid-19 crisis. Ishka estimates that as of 25th November 2021 governments have introduced $204 billion in assistance measures for air carriers globally. more
25/11/2021
Unsecured debt data sheets: Q4 QTD lessor and airline bond issuances
Lessors have issued nearly $3.5 billion in unsecured debt in the first six weeks of the fourth quarter in addition to AerCap’s record $21 billion issuances. Airline issuances QTD are $5.36 billion. more
24/11/2021
in Lessors and Lease Rates , Airline Profiles , Aircraft Finance Market
Garuda edges closer to restructuring, AirAsia X reaches creditor agreement
Garuda Indonesia has submitted a restructuring proposal scheme to lessors and creditors, according to a company filing at the Indonesian Stock Exchange. more
19/11/2021
European airlines post improved Q3 results ahead of Covid spikes
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
17/11/2021
Azul eyes LATAM takeover, Nok Air reaches creditor agreement
Brazilian airline Azul is interested in acquiring the LATAM Airlines Group and is ready to make an offer if LATAM’s creditors fail to agree on a restructuring plan. more
10/11/2021
US airlines’ Q3 revenue closes in on pre-pandemic levels
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
01/11/2021
NAC preps second restructuring, Avianca’s Kriete closes in on Sky Airline merger
In this week’s Restructuring Watch report, Ishka provides updates on airlines from Ishka’s Restructuring list and one lessor – Nordic Aviation Capital (NAC). As of this update, Ishka notes 11 airlines have ceased operations and 20 are undergoing formal court-led restructuring processes initiated since the onset of the Covid-19 pandemic. more
29/10/2021
Confirmed state aid surpasses $200 billion with eight additions
The tally of confirmed bailouts grew by $2.24 billion since the last tally update on 30th September 2021, taking Ishka's confirmed total to $201.02 billion. more
28/10/2021
Delta Air Lines records Q3 profit but warns of rising fuel prices
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
20/10/2021
Airline Bonds Q3 2021: Chinese airlines dominate slow summer of issuances
The volume of unsecured bond issuances by airlines declined by a third consecutive quarter in Q3 2021 to $12.04 billion with Chinese airlines responsible for three in every four issuances. more
12/10/2021
15-year-old aircraft values, industry commits to net-zero carbon emissions by 2050 and airlines opt for larger narrowbodies
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
11/10/2021
White paper: Lessons from airline defaults after 2020
Ed Hansom and JJ O’Toole from Sirius Aviation Capital provide an update to their Airline Default Study white paper to include defaults during 2019 and 2020. more
05/10/2021
Airline bookings rise as US border reopens, EU and US capacity falls
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
04/10/2021
PAL details 17 aircraft rejections, Air Mauritius lessors back 65% debt cut
In this week’s Restructuring Watch report, Ishka provides updates on airlines from Ishka’s Restructuring list. As of this update, Ishka notes 11 airlines have ceased operations and 20 are undergoing formal court-led restructuring processes initiated since the onset of the Covid-19 pandemic. more
01/10/2021
EU confirms $1.59 billion for relaunched Alitalia (ITA), PIA gets bailout
This is the 48th updated summary of airline state aid during the Covid-19 crisis. Ishka estimates that as of 30th September 2021 governments have introduced $198.78 billion in assistance measures for air carriers. more
30/09/2021
5-year-old aircraft values, US borders reopening and Boeing’s market outlook
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
27/09/2021
Special focus on China’s ‘Big Three’, AirAsia suffers revenue hit while Pegasus’ capacity eclipses 2019 figures
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
20/09/2021
Avianca's share price plummets, PAL receives court approval
Avianca Holdings has received Bankruptcy Court approval to send its proposed plan of reorganisation to creditors for a vote, according to a court filing on 14th September. more
17/09/2021
Asia-Pacific’s travel boom, special focus: Qantas and Air New Zealand falling revenues
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
07/09/2021
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
airBaltic secures $106 million aid while Pegasus, TAP and El Al request more support
This is the 47th updated summary of airline state aid during the Covid-19 crisis. Ishka estimates that as of 31st August 2021 governments have introduced $195.89 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. more
31/08/2021
15-year-old aircraft values, Delta orders 30 more A321neos, Embraer’s new turboprop
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
30/08/2021
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
Airline state aid data sheets: State support vs pre-pandemic revenues
This is a new series of reports. Download data sheets with an overview of airline state aid since March 2020 including a ranking of the most generous packages based on pre-pandemic revenues. more
24/08/2021
Latin American and Asian carriers struggle as Europe leads world recovery
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
23/08/2021
5-year-old aircraft values, CALC sells A320s to Puyin Leasing, GOL agrees MAX funding
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
18/08/2021
LATAM restructures orderbook, HNA Group’s plan deadline extended
LATAM Airlines announced on 10th August that it has reached agreements with Boeing and Airbus regarding its future fleet commitments. more
13/08/2021
SpiceJet and Go First get first Indian aid as Thai airlines urge support
This is the 46th updated summary of airline state aid during the Covid-19 crisis. Ishka estimates that as of 12th August 2021 governments have introduced $195.32 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. more
12/08/2021
US LCCs see results bolstered by PSP as Chinese capacity continues to fall
US LCCs have posted a strong quarter of earnings, reaping the rewards of a strong vaccination campaign and US Treasury support. more
11/08/2021
A year after Ch. 11, Latin America’s big three see modest 10% fleet cut – for now
When accounting for recently announced aircraft sales, remarketed aircraft, or sale mandates, the current combined fleet stands around 540 aircraft (-10%) – a relatively humble change for Latin America’s 'big three'. more
04/08/2021
10-year-old aircraft values, Boeing’s first profit in two years and Sukhoi receives order boost
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
02/08/2021
Avianca secures $1.6bn financing, LATAM continues fleet restructuring
Avianca Holdings has secured a $1.6 billion financing package from both new and existing lenders. The airline filed a motion on 22nd July with the Bankruptcy Court seeking approval of an amendment to its existing debtor-in-possession (DIP) documents. more
30/07/2021
Condor, Air Nostrum get new aid as EU affirms approval for sued packages
This is the 45th updated summary of airline state aid during the Covid-19 crisis. Ishka estimates that as of 29th July 2021 governments have introduced $195.30 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. more
29/07/2021
USA & Mexico's domestic resurgence, easyJet passenger numbers up, Jet2 revenues drop 89%
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
26/07/2021
Airline Credit Profile: What is at stake in Air Europa's pending IAG takeover?
The European Commission has recently opened an in-depth investigation into the proposed IAG – Air Europa merger, adding uncertainty to IAG’s latest consolidation bid. more
22/07/2021
15-year-old aircraft values, more lessor activity and reduced 787 production rates
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
19/07/2021
TAP aid in EU sights as new Alitalia gets go-ahead
This is the 44th updated summary of airline state aid during the Covid-19 crisis. Ishka estimates that as of 1st July 2021 governments have introduced $195.28 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. more
16/07/2021
Avianca moves JOLCO leases to PBH, Malaysia puts six A380s for sale
Avianca Holdings filed a court request on 6th July to reject leases for two JOLCO-financed A320s (MSN 7928 and 7887) and enter new leases for the aircraft on "better economic terms." more
15/07/2021
Indian airlines seek to raise additional debt as revenues plummet by nearly 60%
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
09/07/2021
Airline bonds Q2 2021: Wider group of airlines access unsecured market
A benign capital market has attracted a wider universe of unsecured airline issuers in the last three months, according to Ishka research. Airlines around the world issued $19.94 billion in unsecured debt. more
05/07/2021
Five-year-old aircraft values, A340 reactivation and United’s mass 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
02/07/2021
Singapore Airlines gets $2.54 billion from sovereign fund, US carriers face public backlash
Ishka estimates that as of 1st July 2021 governments have introduced $196.90 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. more
01/07/2021
SMBC sues Garuda for $35.9 million, Thai Airways receives restructuring approval
SMBC Aviation Capital is claiming $35.9 million in unpaid aircraft rentals and unrestored deposits excluding interest as well as $9.4 million in guarantee payments in a lawsuit against Garuda Indonesia filed at the London Commercial Court. more
25/06/2021
in Airline Profiles , Aircraft Finance Market
.svg.png)
Ishka’s guide to US PSP and why a PSP4 remains unlikely
Ishka examines US Treasury data on Payroll Support Programme (PSP) and CARES Act Loans to US airlines. A complete dataset is available for download. more
24/06/2021
Garuda seeks to return 101 aircraft to lessors as it mulls debt restructuring options
Garuda’s CEO Irfan Setiaputra has told a parliamentary hearing the airline is contemplating a debt freeze and even the possibility of creating a new airline. more
23/06/2021
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
Emirates gets new $1.1 billion injection, Ryanair scores third court win
Ishka estimates that as of 17th June 2021 governments have introduced $193.77 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. more
17/06/2021
Asian airlines get restructuring go-ahead amidst fresh lockdowns
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
11/06/2021
Clock is ticking for NAC, Avianca agrees A320 LOIs with GECAS
Nordic Aviation Capital’s (NAC) moratorium on debt payment ends at the end of next month, as the lessor edges closer to potentially entering a restructuring. more
11/06/2021
Ishka+ 2021
Feb 1 - Dec 31, 2021
Aviation’s unique streaming and global networking service. Ishka+ delivers an extensive range of proprietary, virtual content in the form of summits, briefings, workshops, videos, podcasts and more, with a meticulously r...More info
Successfully navigating the aviation cycle
Trusted information for calculated decisions
Bespoke Ishka consultancy services
more
