Ishka Insights: indispensable analysis and opinion
Show:

SAF update: Europe not yielding to Ukraine-driven HEFA price hike

From sustainable aviation fuel (SAF) prices to mandate developments, Ishka provides a summary of some of the points covered in its latest SAF webinar with Argus Media. more

22/06/2022

in ESG & Regulation

Is aviation tempting regulatory fate with missed environmental pledges?

As the industry embarks in a concerted effort to decarbonise, a spotty record of missed environmental pledges hampers its credibility – could investors be unsettled by potential regulatory backlash? more

03/06/2022

in Regulatory and Accounting , Investor Education

Briefing: EU Taxonomy for aviation nears final stages amid mixed reactions

The legislative effort to incorporate aviation into the EU Taxonomy, Europe’s gold standard for sustainable investing, is nearing its final stages. Ishka explores some of the key points of contention. more

26/05/2022

in Regulatory and Accounting

KPMG forecasts 15 to 30-year SAF ‘heyday’ window

New propulsion technologies in development today could mean that SAF’s heyday is concentrated in a 15 to 30-year regulatory-driven window, new modelling by KPMG Ireland suggests. more

25/03/2022

in Regulatory and Accounting , Investor Education

Bank-led aviation carbon initiative Impact names board and president

Impact, a new aviation finance association dedicated to achieving Net Zero CO2 emissions by 2050, has announced its founding board and president as it formally launches this week. more

24/03/2022

in Regulatory and Accounting , Aircraft Finance Market

JP Lease sues FitzWalter over attempted JOL A350 sale

JP Lease continues to be locked in a legal battle with investment fund and start-up lessor FitzWalter Capital, over the planned sale of two Airbus A350s on lease to Vietnam Airlines via two separate JOLs arranged by JP Lease. more

22/02/2022

in Lessors and Lease Rates , Regulatory and Accounting

Aviation banks partner for new sustainable aviation initiative: Impact

A group of about 20 international aviation banks and institutions are in the process of establishing an independent association Impact (Initiative to Measure and Promote Aviation’s Carbon-free Transition e. V.) to promote sustainable aircraft financing. more

17/01/2022

in Regulatory and Accounting

COP26 leaves vague aviation targets and VIP flight shaming

The 2021 UN Climate Change Conference, also known as COP26, ended last week with climate pledges by nations for aviation falling short of assurances for other sectors. more

16/11/2021

in Regulatory and Accounting , Investor Education

UK lays out green finance roadmap, new SAF plans ahead of COP26

The UK has signalled that some upcoming green finance eligibility requirements will be based on the EU Taxonomy, bolstering the international significance of efforts to add aviation to the EU Taxonomy. more

25/10/2021

in Regulatory and Accounting , Aircraft Finance Market

ISTAT EMEA 2021: SAF spotlight grows, and appraisers debate if hydrogen aircraft could disrupt residuals

From hydrogen aircraft to SAF, Ishka examines aviation’s progress coming to terms with its role in the climate crisis following the ISTAT 2021 EMEA conference. more

08/10/2021

in Regulatory and Accounting

EU Taxonomy: AWG reacts to latest aviation green finance proposal

The Aviation Working Group (AWG), a not-for-profit entity comprised of major aviation stakeholders including lessors, has called for “significant changes” to proposed requirements for new aircraft green finance eligibility under the EU Taxonomy. more

24/09/2021

in Regulatory and Accounting

EU Taxonomy: Lessors dismayed by old-for-new aircraft scrapping proposal

Aircraft lessors have been left dismayed by a proposal which would condition green finance eligibility for new aircraft under the EU Taxonomy to the scrapping more polluting aircraft. more

22/09/2021

in Regulatory and Accounting

Briefing: The EU and US prep targets for sustainable aviation fuel (SAF)

The EU and US are making important inroads into legislation expected to encourage adoption of sustainable aviation fuel (SAF), fuel produced by non-fossil feedstocks which can be blended with conventional kerosene. more

06/07/2021

in Regulatory and Accounting , Investor Education

Hudson files lawsuit against Ares and Wilmington for conducting “sham” aircraft auction

EETC investors Hudson Structured Capital Management (Hudson) and CarVal Investors (CarVal) are suing Ares Management and Wilmington Trust, for an alleged “sham” auction of 10 Boeing 737-800 aircraft. more

14/06/2021

in Lessors and Lease Rates , Regulatory and Accounting

Will the new EU Taxonomy for green aviation address lessors’ concerns?

The draft of a much-awaited framework by the European Commission on sustainable investment for aviation is set to be shared in the next few months. The framework will be critical for informing 'green' aircraft investments. more

10/06/2021

in Regulatory and Accounting , Investor Education , Aircraft Finance Market

Ishka+ London conference: Expect to see more airline failures and restructurings

More airlines are likely to go bust or enter a formal court-led restructuring process in the next 12 months warned panellists speaking at the Ishka+ Investing in Aviation Finance: Europe conference as airlines continue to suffer depressed revenues due to the Covid-19 pandemic. more

07/05/2021

in Aircraft Asset Profiles , Regulatory and Accounting

Briefing: The future of green financing for aviation

Aviation consultant Michael Halaby and Ishka editor Dickon Harris examine how a lack of an applicable set of ESG standards for aviation is holding back the development of green financing for aviation. more

20/04/2021

in Regulatory and Accounting , Modelling and Forecasting , Aircraft Finance Market

How Malaysia Airlines used the UK scheme of arrangement to renegotiate its aircraft leases

In a guest Insight Freshfields partner Craig Montgomery, and associate Adam Jones, who advised Malaysia Airlines, discuss the airline’s use of a UK scheme of arrangement to renegotiate its aircraft leases. more

07/04/2021

in Regulatory and Accounting

Lessor aircraft impairments up nearly five-fold in 2020

Aircraft impairments recorded by 16 lessors analysed by Ishka totalled $2.7 billion in 2020, a 485% increase from the $461 million recorded by the same lessors in 2019. more

22/03/2021

in Lessors and Lease Rates , Regulatory and Accounting

Malta leverages regulatory changes to attract aircraft lessors

The Government of Malta has tabled in parliament an update to the country’s 2010 Aircraft Registration Act to make itself more appealing to lessors. more

08/10/2020

in Lessors and Lease Rates , Regulatory and Accounting , Investor Education

How do Aircraft ABS structures perform if cash flows are reduced due to Covid-19?

In a guest insight Kevin MacLeod, Vedder Price’s Head of the New York Capital Markets Group, examines some of the structural protections prevalent in recent aircraft ABS transactions. more

13/08/2020

in Capital Markets , Investor Education , Market Move

Aviation’s green dreams sidelined by Covid-19

Covid-19 has pushed the climate crisis out of the limelight. Airlines and governments worldwide have put the focus on short-term survival rather than long-term sustainability. more

08/06/2020

in Regulatory and Accounting

Covid-19 bailouts: State support for airlines approaches $100 billion

Ishka estimates that as of 23rd April governments around the world are preparing or have executed airline bailouts worth up to $99.4 billion. more

23/04/2020

in Airline Profiles , Regulatory and Accounting

Covid-19 bailouts: Airline demands vs government support (17th April)

This is the fifth updated summary of airline demands for state support and bailout offers by governments around the world. more

17/04/2020

in Airline Profiles , Regulatory and Accounting

CARES Act: US to hold 0.5% to 3% in airline stock warrants

Ten major US airlines have agreed to the partial repayment of payroll grants under the CARES Act after some initial resistance, paving the way for the disbursement of the initial $25 billion allocated to passenger carriers. more

16/04/2020

in Airline Profiles , Regulatory and Accounting

Covid-19 bailouts: Airline demands vs government support (9th April)

Ishka estimates that governments are preparing or executing up to $92 billion in financial assistance for airlines around the world. more

09/04/2020

in Airline Profiles , Regulatory and Accounting , Aircraft Finance Market

US airlines bailout: What does the fine print say?

A $58 billion bailout for US airlines was signed into law by President Donald Trump on 27th March as part of the CARES Act. Ishka examines the provisions for state aid to US air carriers. more

30/03/2020

in Airline Profiles , Regulatory and Accounting , Aircraft Finance Market

Covid-19: Airline demands vs government support

Ishka provides a summary of the demands by airlines for state assistance and the current levels of government support and bailouts on offer. more

19/03/2020

in Airline Profiles , Regulatory and Accounting , Aircraft Finance Market

EU to add aviation investments to green taxonomy

EU bodies are looking to add aviation to its upcoming green taxonomy, which regulates what debt and public equity investments can be marketed as sustainable to European investors. more

25/02/2020

in Regulatory and Accounting , Capital Markets , Aircraft Finance Market

737 MAX production halted: what are the effects?

Boeing announced late on 16th December that it will temporarily suspend production of the 737 MAX beginning in January. more

17/12/2019

in Aircraft Asset Profiles , Modelling and Forecasting , Aircraft Finance Market , Market Move

Shipping sulphur regulations push up jet fuel prices

The premium of jet fuel over crude oil has increased 31.3% since new limits for the sulphur content of marine fuels was announced. more

11/11/2019

in Regulatory and Accounting

Treaty lenders make cautious comeback after Japanese tax reforms

Treaty lenders are slowly returning to the Japanese market after tax reforms announced last year left overseas lenders unsure how competitive they could be against domestic banks when contending for JOLCO debt mandates. more

22/10/2019

in Regulatory and Accounting

COMAC wins in the Airbus-Boeing WTO dispute

Burgeoning aircraft manufacturers like COMAC are reaping the rewards of the Boeing-Airbus World Trade Organisation (WTO) dispute. more

07/10/2019

in Regulatory and Accounting , Aircraft Finance Market

Aviation struggles to control the climate crisis narrative

Public fallout from the climate crisis represents an “existential” threat to aviation, said panellists at this year’s ISTAT Berlin. more

03/10/2019

in Regulatory and Accounting , Aircraft Finance Market

Aircraft funds should be wary as courts rule against ‘tax treaty shopping’

In a guest Insight, PwC Ireland examines the increasing judicial scrutiny towards treaty-based tax planning and what it may mean for aircraft lessors and investors. more

09/08/2019

in Regulatory and Accounting , Aircraft Finance Market

Boeing Q2: No certainty on MAX return to service

Boeing has prepared multiple and divergent plans for the MAX's return to service, betraying the uncertainty that still surrounds the MAX crisis. more

25/07/2019

in Aircraft Asset Profiles , Regulatory and Accounting

In Germany, Spezialfonds timidly rise from KG market ashes

Ishka examines the German closed-end fund market: from the demise of retail KG funds to the slow emergence of Spezialfonds for institutional investors. more

23/07/2019

in Regulatory and Accounting , Aircraft Finance Market

“Flight shame” poses long-term risk to aviation

After a decade of growth, 2019 Q1 passenger numbers in Sweden are 4.2% lower than the same period in 2018. Is aviation finance waking up to the long term risk of climate-conscious passengers? more

17/07/2019

in Regulatory and Accounting , Aircraft Finance Market

Will an EU fuel tax push airlines towards new-tech aircraft?

With efforts to tax aviation fuel gaining traction across the EU, Ishka examines the impact that kerosene taxes could have on aircraft demand. more

04/07/2019

in Regulatory and Accounting , 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

ISTAT Asia: MAX likely grounded until end of 2019

Attendees and appraisers at ISTAT Asia did not think the MAX would be flying again in time for the summer season and asked how the grounding could impact MAX values and lease rates. more

14/05/2019

in Aircraft Asset Profiles , Aircraft Finance Market , Regulatory and Accounting

Climate change protesters turn to aviation

A small group of climate protesters targeted Heathrow Airport this weet. How seriously should aviation financiers take the threat of future demonstrations? more

23/04/2019

in Regulatory and Accounting , Investor Education

Ishka Investor Europe: Aviation investors reveal environmental concerns

Ishka summarises some of the key takeaways from the Ishka’s Investing in Aviation Finance Europe conference held last week in London. more

12/04/2019

in Regulatory and Accounting , Capital Markets , Aircraft Finance Market

AWG addresses GATS questions with draft documentation

AWG has published GATS draft documentation ahead of its planned Q1 2020 release. In it, the organisation takes pains to address some of the common question that the market has had over its project. more

03/04/2019

in Regulatory and Accounting , Technical Expertise , Aircraft Finance Market

Boeing struggles to push through MAX software fix

Boeing's MAX software fix has been delayed from days to weeks by the FAA, who are themselves losing the confidence of aviation authorities worldwide. more

02/04/2019

in Regulatory and Accounting , Aircraft Finance Market , Aircraft Asset Profiles

Who is impacted by the 2019 JOLCO tax reforms?

Ishka summarises sections of the 2019 Japanese tax reform relevant to the JOL/JOLCO market and its potential effects on market participants. more

26/02/2019

in Regulatory and Accounting , Aircraft Finance Market

Don't underestimate the impact of IFRS 16 on airline balance sheets

In January a new accounting standard, IFRS 16, which puts operating leases on an airline’s balance sheet came into effect. Colin Sach, an aviation corporate finance adviser asks how the new accounting standard could impact airline fleet management. more

22/02/2019

in Regulatory and Accounting , Modelling and Forecasting , Aircraft Finance Market

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

Aircastle’s results overshadowed by Avianca Brazil concerns

Aircastle’s mostly positive results for the full year 2018 were overshadowed by the ongoing concerns for the fate of the lessor’s aircraft operated by Avianca Brazil. more

19/02/2019

in Lessors and Lease Rates , Regulatory and Accounting , Aircraft Finance Market