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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

in Airline Profiles

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles

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

in Airline Profiles

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

in Lessors and Lease Rates , Airline Profiles

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles

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

in Airline Profiles , Capital Markets

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Investor Education

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Investor Education

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , 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

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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