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Shared patterns: An analysis of 737s grounded over pickle forks

Ishka identifies 37 Boeing 737 NGs affected by ‘pickle fork’ cracks as over 1,000 aircraft reach the FAA’s inspection threshold. more

12/11/2019

in Aircraft Asset Profiles , Airline Profiles , Technical Expertise

Q3 update: European MAX airlines bearish on aircraft’s return

Ishka examines the Q3 announcements of several airlines affected by the MAX grounding and their increasingly pessimistic re-entry outlooks. more

08/11/2019

in Aircraft Asset Profiles , Airline Profiles

Making sense of IndiGo’s 730 aircraft order

Indian low-cost carrier (LCC) IndiGo increased its total Airbus A320neo family orders to a whopping 730 aircraft to date with an additional order for 300 jets. more

06/11/2019

in Airline Profiles , Aircraft Finance Market

Airlines on watch: Norwegian agrees Chinese JV, Thomas Cook’s subsidiary finds buyers

Ishka reviews recent updates on a range of airlines currently “On Watch” according to Ishka’s Airline Credit Profiles (ACP). more

31/10/2019

in Airline Profiles , Aircraft Finance Market

Wizz Air on JOLs, JOLCOs and sale-leasebacks

Ishka speaks with Wizz Air chief supply chain officer Andras Sebok on the low-cost’s fleet growth targets, aircraft financing preferences and its recent JOLCO predilection. more

29/10/2019

in Airline Profiles , Aircraft Finance Market

Repo update: Lessors look to remarket ex-Thomas Cook aircraft

A month after Thomas Cook’s bankruptcy Ishka examines how lessors have managed to remarket aircraft from four recent airline bankruptcies: Adria Airways, Aigle Azur, Thomas Cook and XL Airways. more

23/10/2019

in Lessors and Lease Rates , Airline Profiles

What are Interjet’s biggest challenges?

Ishka studies Interjet in this airline credit profile to understand its biggest challenges. more

17/10/2019

in Airline Profiles

Airline bonds Q3 2019: $7.1bn raised amid shrinking maturities

Airlines around the world raised $7.1 billion through 47 unsecured bond issuances in Q3 2019. more

04/10/2019

in Airline Profiles , Capital Markets , Home

Repo frenzy: Four airlines down, six on watch

Four airlines ceased operations in the past two weeks tentatively leaving 74 leased aircraft without an operator. more

01/10/2019

in Aircraft Asset Profiles , Lessors and Lease Rates , Airline Profiles , Home

ISTAT: Lessors wary of further airline bankruptcies

Ishka summarises some takeaways from the ISTAT EMEA conference. more

30/09/2019

in Airline Profiles

Lessors move to repossess bankrupt Thomas Cook aircraft

178-year-old Thomas Cook has collapsed, leaving lessors to repossess its 55 leased A320s, A321s and A330s. more

23/09/2019

in Airline Profiles

Aigle Azur files for bankruptcy after failed leadership coup

French airline Aigle Azur filed for bankruptcy on 2nd September and entered judicial receivership following months of difficulties. more

02/09/2019

in Lessors and Lease Rates , Airline Profiles

A380 retirement horizon: What’s coming?

More airlines have announced broad projected retirement dates for the A380. more

29/08/2019

in Aircraft Asset Profiles , Airline Profiles

Macro headwinds to challenge weaker carriers

Ishka examines some of the recent macro trends that might affect the airline industry and some airlines most exposed to these trends. more

27/08/2019

in Airline Profiles

An airline CEO’s perspective: How to survive the lessor’s pitch

Capt. Suren Ratwatte, the former CEO of SriLankan Airlines, offers advice for negotiating the lease of a new aircraft. more

21/08/2019

in Lessors and Lease Rates , Airline Profiles , Investor Education

Lessor takes aircraft from HNA-tied Aigle Azur

French carrier Aigle Azur raised eyebrows last week after confirming one lessor “took back” an A320 under “deceptive means.” more

13/08/2019

in Lessors and Lease Rates , Airline Profiles

Q2 update: Top MAX airlines reveal grounding impact

Ishka examines the Q2 announcements of nine airlines affected by the MAX grounding. more

08/08/2019

in Aircraft Asset Profiles , Airline Profiles

Investor Guide: Ancillary revenues and airline credit risk

In this investor guide, Ishka looks at the growing commercial footprint of ancillary revenues and their relevance to airline credit risk. more

22/07/2019

in Airline Profiles , Investor Education

Ryanair-owned Lauda feasts on sub-$200k leased A320s

Ryanair’s Austrian subsidiary Lauda has than doubled its fleet in 2019 with the addition of 18 mid-life A320s averaging sub-$200,000 lease rates. more

16/07/2019

in Aircraft Asset Profiles , Airline Profiles

Airlines with MAXs seek cancellations, compensation from Boeing

As the MAX grounding enters its fourth month, affected airlines are growing impatient with Boeing over the OEM’s muted response to their calls for remedy.. more

11/07/2019

in Airline Profiles , Aircraft Finance Market

Garuda joins list of struggling state carriers

Ishka examines three of the weakest state carriers: Garuda Indonesia, Kenya Airways and South African Airways which together lost a combined $719 million in 2017 alone. more

08/07/2019

in Airline Profiles , Aircraft Finance Market

Lessors remarket 36% of Jet Airways’ leased aircraft

Lessors with exposure to Jet Airways have managed to remarket 36% of their aircraft, according to Ishka research. more

02/07/2019

in Aircraft Asset Profiles , Airline Profiles

How will Bamboo Airways break into Vietnam’s duopoly?

Ishka studies Bamboo Airways in this airline credit profile to understand how it plans to differentiate against its competitors and whether it has the potential to leverage Vietnam’s booming aviation sector. more

24/06/2019

in Airline Profiles

Repossession update: WOW, Avianca Brazil and Flybmi

Ishka tracks the repossession process of three bankrupt carriers in 2019: WOW air, Avianca Brazil and Flybmi, and reviews some other recent bankrupt airline fleets. more

17/06/2019

in Aircraft Asset Profiles , Lessors and Lease Rates , Airline Profiles

South African Airways loses another CEO amid “unsustainable” debt

Another SAA CEO bites the dust, complaining that the airline is receiving no governmental support for its "unsustainable" level of debt. more

14/06/2019

in Airline Profiles

MAX grounding Q1 costs for top operators just tip of the iceberg

The Q1 results of top MAX operators covered less than three weeks of the grounding. Ishka believes Q2 results will reveal greater costs. more

07/06/2019

in Airline Profiles , Modelling and Forecasting

Update: €0.33/litre European jet fuel tax on the cards after EU elections

All of the political groups likely to form the European Parliament's next majority back a commercial jet fuel tax. Update: Tax would have meant 82.44% increase of 2018 - 19 fuel costs. more

31/05/2019

in Airline Profiles , Regulatory and Accounting

Lessors succeed in remarketing most of bankrupt Germania’s A319s

Three months after the German leisure carrier filed for bankruptcy lessors have remarketed of half of Germania’s fleet. more

23/05/2019

in Aircraft Asset Profiles , Airline Profiles

Aviation financiers becoming wary of rising airline risk

As fuel costs rise and airline bankruptcies have piled up in 2019, aviation financiers debate whether banks have become sensitive to airline credit risk in the past year. more

20/05/2019

in Airline Profiles , Capital Markets , Aircraft Finance Market

Aegean leverages Greece’s tourism boom

Ishka studies how Aegean has achieved continuous growth despite the fact that Greece’s GDP has shrunk by 25% since 2008. more

07/05/2019

in Airline Profiles

HNA woes prompt Hainan Airlines' loss

In the latest in the HNA saga, the firm's group of airlines have reported dismal 2018 results as the parent continues to look for assets to sell off. more

06/05/2019

in Airline Profiles , Aircraft Finance Market

Norwegian puts the brakes on leasing arm growth

Low-cost carrier Norwegian Air Shuttle has scaled back growth of its captive lessor, Arctic Aviation Assets (AAA), by delaying aircraft deliveries for the next two years. more

30/04/2019

in Aircraft Asset Profiles , Airline Profiles

Jet Airways: Lessor repossessions gain speed as airline winds down operations

Ishka analyses the latest developments in Jet Airways’ fleet and the hurdles lessors could face. more

16/04/2019

in Lessors and Lease Rates , Airline Profiles

Lessors still wait for repossessions as Azul and Avianca Brazil talks collapse

Lessors are still seeking to repossess aircraft from struggling Latin American carrier Avianca Brazil, as its creditors actively explore auctioning off the airline’s assets. more

10/04/2019

in Lessors and Lease Rates , Airline Profiles

How are airlines coping with the MAX grounding?

Ishka examines the level of optimism hinted by other airline schedules, the impact of the immediate MAX order backlog on operators, and how large and small airlines exposed to the type are reacting. more

05/04/2019

in Airline Profiles , Modelling and Forecasting , Aircraft Finance Market

WOW Air collapse: How are lessors impacted?

Icelandic carrier WOW Air ceased operating on 28th March after talks failed on a lifeline investment from Indigo Partners. Ishka assesses the impact on lessors. more

28/03/2019

in Lessors and Lease Rates , Airline Profiles

Azul boss wants “fast” Avianca Brazil deal as lessors seek to reclaim aircraft

Azul’s acquisition of Avianca Brazil’s aircraft leases and airport slots needs to be closed “fast” in the next 60 days if the struggling Avianca spin-off wants “business". more

22/03/2019

in Lessors and Lease Rates , Airline Profiles

Jet Airways faces repossession crisis

Jet Airways has reached a critical juncture in the negotiations for its survival with potential rescuers Etihad and the State Bank of India (SBI) locking horns as aircraft are grounded. more

20/03/2019

in Lessors and Lease Rates , Airline Profiles

Boeing likely to offer airlines compensation for MAX groundings

Norwegian says it is "obvious" Boeing will pick up the bill for the cost of the MAX groundings, but how likely is it that airlines will receive compensation from the OEM? more

19/03/2019

in Airline Profiles , Aircraft Finance Market , Aircraft Asset Profiles

Could Azul’s proposed takeover help Avianca Brazil’s lessors?

Lessors appealing a court-mandated stay on repossessions on leased aircraft with Avianca Brazil are looking at a non-binding asset takeover deal by LCC Azul with interest. more

14/03/2019

in Lessors and Lease Rates , Airline Profiles

Ethiopian MAX crash overshadows ISTAT conference

Chinese and Indonesian aviation authorities have grounded 737 MAX aircraft after the second crash in five months of a new MAX during take-off. more

11/03/2019

in Airline Profiles , Aircraft Finance Market

MUFG to acquire DVB’s aviation funds and finance arm

Japanese group MUFG is to acquire German DZ Bank’s aviation finance division as part of the dismantling of DVB Bank, DZ’s troubled transport finance business. Ishka analyses DVB AAM's managed fleet and the Deucalion aviation funds. more

08/03/2019

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

Which lessors are most exposed to Norwegian?

More than half of Norwegian’s 162 aircraft fleet (51%) is currently leased from third party lessors. Ishka analyses the exposure of aircraft lessors to the long-haul low-cost carrier. more

06/03/2019

in Aircraft Asset Profiles , Airline Profiles

Norwegian’s next move

Norwegian Air Shuttle (Norwegian) has been a pioneer in making the idea of long-haul low-cost a reality. However, as Ishka has previously stated, the airline’s current business model is unsustainable. more

04/03/2019

in Aircraft Asset Profiles , Airline Profiles

UPDATE: Jet Airways grounds 25 leased aircraft, others leave fleet

Struggling Indian carrier Jet Airways has confirmed it has grounded at least 25 leased aircraft in February and March due to non-payment to lessors. The troubled carrier has effectively shrunk its operational fleet by around 35% since the start of the year. more

01/03/2019

in Lessors and Lease Rates , Airline Profiles

Lessors win Avianca Brazil legal victory but wait to repossess aircraft

Aircraft lessors exposed to ailing carrier Avianca Brazil are expected to remain on stand-by until next month despite new court developments technically paving the way for aircraft repossessions. more

20/02/2019

in Lessors and Lease Rates , Airline Profiles , Regulatory and Accounting

Debt-laden holiday firm Thomas Cook eyes sale of airline group

Following a share slump and rising debt last year Thomas Cook has announced a potential sale of its four subsidiary airlines. Ishka examines Thomas Cook’s leased fleet and lessor exposure. more

15/02/2019

in Lessors and Lease Rates , Airline Profiles

Jet Airways’ difficulties signal tough year for Indian airlines

Indian airlines had a tough year in 2018. A mixture of capacity growth, rising costs and fierce competition has put pressure on yields and margins. more

13/02/2019

in Airline Profiles , Modelling and Forecasting

Germania bankruptcy: What’s next for lessors?

A new conundrum emerged in the aircraft leasing market last week: Germania. The Berlin-based leisure airline filed for bankruptcy on February 4 after 32 years in operation. more

08/02/2019

in Aircraft Asset Profiles , Lessors and Lease Rates , Airline Profiles

Lawyering up: Lessors appeal Avianca Brazil's latest extension

Aircraft lessors exposed to Avianca Brazil have appealed a controversial 73-day extension to a stay on aircraft repossessions granted by a court in Sao Paulo on February 1. more

06/02/2019

in Aircraft Asset Profiles , Lessors and Lease Rates , Airline Profiles , Regulatory and Accounting

Investing in Aviation Finance Germany

26th November 2019
Ishka's 3rd German conference is moving to Munich for 2019 to connect the international community with German institutional Investors

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