Ishka insights: indispensable aviation data, analysis and opinion
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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

Capital Markets Update: lessors raise $4.2 billion in September

Lessors tracked by Ishka raised $4.2 billion in unsecured capital markets debt in September. more

02/10/2024

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

Which 2023 airline start-ups are still flying in September?

Following Ishka’s annual report highlighting the airlines that began operations in 2023, Ishka cast an eye as to the current state of these airlines... more

27/09/2024

in Airline trends & analysis

Alaska – Hawaiian merger goes through, Boeing unveils “best and final” strike offer

Ishka provides updates on the recent merger between Alaska Airlines and Hawaiian Airlines and the latest offer from Boeing to striking workers.  more

24/09/2024

in Airline trends & analysis , OEMs, Cargo & Engines

Aeroflot to settle with aircraft lessors, Fed official signals rate cut

Ishka examines how Aeroflot's plan to agree insurance settlements could impact ongoing litigation from aircraft lessors. more

06/09/2024

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

Japanese carriers bolstered by international traffic growth

Japan’s two largest carriers JAL and ANA have reported strong financial performances in FY 2024, driven largely by the recovery of demand in the international segment. more

19/08/2024

in Airline trends & analysis

Transactions slow as post-pandemic boom begins to level out

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

12/08/2024

in Lessors & Asset managers , Airline trends & analysis

Phoenix prices debut lessor EETC, Embraer deliveries jump in Q2

Phoenix Aviation Capital (PAC) has priced a debut $242 million lessor EETC, PAC 2024-1. more

09/08/2024

in Lessors & Asset managers , Airline trends & analysis

S7 and Aeroflot pursue lessor settlements, Boeing to plead guilty in DOJ deal

Russian airlines are reportedly nearing new settlements with lessors over trapped aircraft, while Boeing is to plead guilty to criminal charges as part of a plea deal with the US DOJ. more

09/07/2024

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

On Watch: Go First’s ‘final’ extension, TAROM to leave Heathrow

Romanian flag carrier TAROM is set to leave Heathrow Airport in October after finding a buyer for its airport slots. In India, defunct LCC Go First has been permitted a final 60-day extension to complete the insolvency process, allowing additional time for investors to bid on the business. more

04/07/2024

in Airline trends & analysis

Middle East Review - LCC growth chipping away Emirates, Qatar Airways, and Saudia's market dominance

This week Ishka turns its attention to the Middle East, and reviews the recent performance of some of the LCC’s serving the aviation market in the region, including flydubai, flynas, Air Arabia, Jazeera Airways and Salamair. While demand remains elevated in the region, aggressive capacity deployment and new entrants in the market have put pressure on yields. That said, Emirates, Qatar Airways and Saudia continue to operate almost 40% of the region’s total capacity. more

28/06/2024

in Airline trends & analysis

On Watch: EASA upholds Pakistan International Airlines ban, Bonza fails to find a buyer

European regulators will uphold operational restrictions on Pakistan International Airlines until the implementation of "corrective measures" within the country's civil aviation authority. In Australia, Bonza appears to be heading towards liquidation following the firing of its employees and cancellation of all future services. more

13/06/2024

in Airline trends & analysis

Post-restructuring progress for Avianca, LATAM, and Aeroméxico - but regional challenges remain

Latin America’s major carriers – Avianca, LATAM, and Aeroméxico - have all made strong recoveries since emerging from Chapter 11 restructuring. more

15/05/2024

in Airline trends & analysis

On Watch: Bonza enters administration, SpiceJet faces a new insolvency challenge

Australian ULCC Bonza has suspended operations and entered administration following issues with cash flow and funding. In India, SpiceJet has had a fourth lessor open insolvency proceedings after the non-payment of $10 million in rental fees. more

10/05/2024

in Airline trends & analysis

Brazil Review - GOL looks to scale back ops amid financial difficulties, Azul reduces debt through restructuring

Following on from Central America, attention focuses on Brazil. Some of the core themes are similar to the outlook for Brazilian carriers – namely robust current passenger demand hedged by regional volatility and country concerns. Others however, are unique to Latin America’s second largest economy. more

02/05/2024

in Airline trends & analysis

Central America Review - continued recovery threatened by political risk and supply chain disruption

Like South America, Central America has seen robust traffic recovery through 2023, with both low-cost and full-service carriers benefitting from the surge in demand. However, upcoming elections, regional instability, and capacity shortfalls may prove a challenge for future growth plans. more

15/04/2024

in Airline trends & analysis

The list of 2023’s new airlines and start-ups

Supply chain constraints, high leasing fees, and limited access to new aircraft appear to be weighing on start-up carriers. Just 19 airlines launched operations in 2023, a significant drop compared to previous years. Notable newcomers to the market include Australia's Bonza, a relaunched Mexicana, and premium travel-focused BeOnd. more

12/04/2024

in Airline trends & analysis

On Watch: SAA privatisation collapses, Pacific Airlines suspends operations

South African Airways is currently seeking a new strategic partner following the termination of its planned semi-privatisation deal with Takatso after three years of discussions. According to the South African government, the carrier currently has enough funds to keep operations running for up to 18 months. more

10/04/2024

in Airline trends & analysis

Latin America Review - domestic travel demand fuels post-pandemic recovery

Passenger traffic across Latin American markets recovered strongly in 2023, driven largely by a full recovery in the domestic markets. Nevertheless, there were casualties along the way, including Viva Air and Ultra Air in Colombia and EQUAIR in Ecuador. more

07/04/2024

in Airline trends & analysis