ICBC Leasing shortlists buyers for 40 aircraft portfolio
Chinese leasing firm ICBC Leasing conducts one of the largest aircraft portfolio sales of recent history. more
22/04/2019
Aircraft ABS: Castlelake prices CLAS 2019-1
US fund manager and leasing firm Castlelake has priced its sixth structured ABS financing, Castlelake Aircraft Structured Trust 2019-1 (CLAS 2019-1). more
17/04/2019
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
Ishka Investor Europe: MAX and neo equity returns continue to compress
Aircraft investors and lessors gathered at Ishka’s Aviation Finance Europe conference last week confirmed that returns on new technology leased aircraft, such as the Boeing 737 MAX and Airbus A320neo, have tightned forcing many investors seeking higher returns towards older aircraft. more
15/04/2019
in Aircraft Asset Profiles , Aircraft Finance Market , Lessors and Lease Rates
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
FAA deems MAXs “airworthy” as the rest of the world bans flights
Lessor chiefs decline to speculate on the causes of the crash. more
12/03/2019
in Lessors and Lease Rates , Aircraft Finance Market , Regulatory and Accounting
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
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
Will JOLCO tax reforms impose higher costs for overseas lenders?
JOL/JOLCO lessors, offshore lenders and equity investors alike could be hit by upcoming Japanese tax reforms. more
11/02/2019
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
Cape Town in India: Bill gathers dust as implementation falters
Hopes that India could soon introduce the Cape Town Convention into its domestic legislation have been dashed, with progress unlikely until at least mid-2019. more
05/02/2019
Lessors in suspense as Avianca Brazil nears deadline
Lessors involved in Ocean Linhas Aereas S/A (Avianca Brazil) are sitting out a controversial stay on repossessions in disquiet as a February 1 deadline nears for the crippled Latin American carrier. more
28/01/2019
in Aircraft Asset Profiles , Regulatory and Accounting
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Could aviation finance attract ESG investors?
Ishka examines whether aviation finance, a notoriously carbon-intensive industry, could meet ESG (environmental, social, governance) criteria and attract ethical investors. more
29/11/2018
in Regulatory and Accounting , Capital Markets , Investor Education , Home
What to do with an insolvent airline?
Should insolvent airlines be permitted to continue operating their aircraft temporarily? more
15/11/2018
How long will China remain 'closed for business' for Boeing?
Chinese airlines have been conspicuous in their avoidance of direct aircraft orders with Boeing as the trade war heats up between China and the US. more
09/10/2018
in Regulatory and Accounting , Aircraft Finance Market
Q1 2018 Traffic Update: Year-on-year load factors pick up
As part of a regular series looking at the trends in air traffic and capacity, in this week’s Insight, Ishka reviews the traffic and capacity changes during the first quarter of 2018. more
23/05/2018
Slots still risky for financiers as collateral despite Monarch victory
Monarch’s creditors recently won the right to trade the defunct carrier’s airport slots after an appeal but White & Case, in a guest report, argues that slots still represent uncertain collateral for financiers. more
08/05/2018
IFRS rules likely to cause currency volatility for airlines
One consequence of incoming accounting changes, IFRS 16 and IFRS 9 will be increased currency costs for airlines with predominately non-US dollar revenues. more
16/01/2018
Hong Kong’s latest bid for aircraft leasing ‘dominance’
Proposed changes to how Hong Kong-listed lessors report aircraft transactions are part of an effort to reduce their operating costs and improve the attractiveness of listing in the city. more
27/11/2017
in Lessors and Lease Rates , Ishka insights , Regulatory and Accounting , Premium , Aircraft Finance Market
US airlines save billions under Trump tax changes
A proposed cap on corporate tax deductions for net interest expense is unlikely to have any effect on US airlines, but a 15% reduction in the top rate will be a boon for carriers. more
24/11/2017
in Airline Profiles , Ishka insights , Regulatory and Accounting , Premium , Aircraft Finance Market
Big three US carriers aren’t paying any corporation tax
The big three US carriers have been able to offset recent record profits thanks to years of previous losses. more
15/11/2017
in Airline Profiles , News , Ishka insights , Regulatory and Accounting , Premium
Untested: non U.S. EETCs in bankruptcy
Ishka takes a closer look at the creditor protections for Norwegian’s EETC. more
06/11/2017
in Ishka insights , Regulatory and Accounting , Modelling and Forecasting , Aircraft Finance Market
Airlines neglect EU compensation rules at their peril
Carriers have fought EU compensation legislation bitterly since its introduction in 2005 more
30/10/2017
in News , Ishka insights , Regulatory and Accounting , Premium , Technical Expertise
What impact will the end of QE have on aircraft rents?
As the Fed begins to end quantitative easing Ishka examines how aircraft rents will begin to be impacted. more
29/09/2017
in Lessors and Lease Rates , Ishka insights , Regulatory and Accounting
Airlines charge lessors more for novations
As the world’s fleet increases, airlines are forced to spend time doing novations as lessors trade their aircraft. Ishka examines some of the challenges lessors and airlines face with novations. more
04/09/2017
in Lessor finances , Ishka insights , Regulatory and Accounting , Technical Expertise
Will Brexit force the UK to drop out of the European open skies deal?
In a special guest insight piece, RDC Aviation Economics’ Tim Coombs, looks at the impact of Brexit on airlines and airports. more
21/08/2017
H1 2017 traffic growth and load factors up but Middle East sees decline
As part of its regular series on air passenger traffic, Ishka studies the evolution of traffic and capacity during the first six months of 2017. more
18/08/2017
Repossession risk report: Nigeria and Turkey
Anecdotal evidence suggests that aircraft repossessions are on the rise. Ishka looks at two of the more difficult jurisdictions to retrieve an aircraft from: Nigeria and Turkey. more
03/07/2017
in Lessors and Lease Rates , Ishka insights , Regulatory and Accounting , Technical Expertise
How will changes to Ireland’s double tax treaties impact new lessors?
Ishka reviews what changes to Ireland’s double tax treaties as part of the OECD BEPS regulations could mean for aircraft lessors. more
22/06/2017
in Ishka insights , Regulatory and Accounting , Aircraft Finance Market
More firms seek to set up aviation debt funds
At least three non-bank institutions including an insurance firm are actively looking to create their own private aviation debt fund, according to Ishka research. more
21/02/2017
in Ishka insights , Regulatory and Accounting , Investor Education , Aircraft Finance Market
Can the low-cost long-haul model be profitable?
Low-cost airlines revolutionised the aviation industry in the last ten years, driving prices down and forcing incumbents to compete. Now carriers like Norwegian and Air Asia X have applied the same low-cost model to long-haul flights. The challenge now is to deliver sustainable profitability. more
26/01/2017
in Airline Profiles , Regulatory and Accounting , Investor Education , Aircraft Finance Market
Mexican senate increases foreign ownership cap
The move toward increasing foreign investment in its aviation sector took another step forward as the Mexican senate voted to increase the cap on airline foreign ownership from the previous 25%, to 49%. It must now be approved by the Mexican Chamber of Deputies. The move paves the way for a possible increase in Delta’s stake of AeroMexico to 49% and Avianca’s stake in Aeromar to 49%. more
09/01/2017
Azerbaijan moves to further liberlise air market
Azerbaijani government authorities marked the further liberalisation of the aviation sector as well as privatisation as two priorities in the current version of its strategic plan for the country. AZAL fleet renewal plans were targeted with plans to open negotiations planned with Embraer, Airbus and Boeing. In addition, it wants to develop an LCC as part of a plan to boost tourism with Buta Airways set to launch in the autumn with Embraer aircraft. more
09/01/2017
New Chinese restrictions raise hopes for regional jet manufacturers
After China imposed new restrictions on new entrant airlines, regional jet makers are looking for an increase in orders from Chinese airlines. Still they face competition from COMAC as well as questions about the size of western regional airliners. China wants to increase capacity in secondary markets now that capacity in big cities has been satisfied and access has been restricted to the major markets. Airlines are now required to put to use 25 smaller regional jets before they can qualify for larger equipment, which could prompt a demand for 250 new RJs potentially from Bombardier, Embraer, Sukhoi and Mitsubishi in addition to COMAC’s ARJ 21. more
20/12/2016
Azerbaijan to increase LCCs in effort to reduce ticket prices and promote tourism
In an effort to promote tourism and reduce ticket prices, civil aviation authorities in Azerbaijan said is increasing the number of low-cost carriers. The airlines could be created under Flag Carrier AZAL or as a separate company. It is also cutting airport costs. more
20/12/2016
Norwegian plans domestic service in Argentina
Norwegian Air Shuttle is planning to launch a new Argentinian airline in 2017 to serve the domestic market, creating the market’s first LCC. more
20/12/2016
Brazil files formal WTO challenge on Bombardier subsidies
In response to increased government funding of Bombardier, Brazil plans to file a formal complaint with the World Trade Organization over the $2.5 billion in state aid. Brazilian jet maker Embraer says the subsidies have distorted the market. more
20/12/2016
Closing the tax loop: BEPS and aviation
A project launched by the G20 and the OECD to improve international tax laws and prevent aggressive tax planning is set to impact aviation firms. Ishka examines how the Base Erosion and Profit Shifting (BEPS) project will affect airlines and lessors. more
14/12/2016
in Lessors and Lease Rates , Ishka insights , Regulatory and Accounting , Investor Education
Two opportunities to reopen US Ex-Im
Plans to make US Ex-Im fully operational again were dealt a blow this week when Congress rejected an amendment to a short-term spending bill that would allow the bank to function without a full board. Ishka examines two possible opportunities to reopen the bank. The first involves a new Senate banking committee chairman, while the second involves the next US budget. more
11/12/2016
in Ishka insights , Regulatory and Accounting , Aircraft Finance Market
Brazil to release new aviation regulations next week
In an effort to streamline the airline regulatory regime, Brazilian civil aviation authority said it is set to release new regs on December 13 designed to provide relief from the costly and weighty regulations now in place. Brazil, which observers hope will bring regulations more in line with ICAO standards, is now the most expensive and difficult country for airlines, especially with a 50% premium paid on fuel alone. more
09/12/2016
ARJ21-700 receives first certification outside China
Civil aviation authorities in the Republic of Congo granted COMAC’s ARJ21-700 a type certificate, the first such regulatory approval outside of China. The government of Congo placed a firm order for three aircraft in 2014. A delivery date has not been set. There are 413 orders from 19 customers for the ARJ21. more
09/12/2016
Lucky Air plans new LCC in China
Yunan Lucky Air acknowledged it is working with two state-owned agencies on a joint venture to launch a low-cost carrier known as Chengdu Shenniao Airlines. The Hainan Airlines subsidiary would have a 35% stake in the new company. more
08/12/2016
Avianca to launch Argentinean subsidiary
After acquiring 12 ATR72-600s and six options for a planned subsidiary in Argentina, Avianca said it filed for the right to operate domestic and international service under its new Avian Líneas Aéreas subsidiary. more
08/12/2016
in Airline Profiles , Regulatory and Accounting , Investor Education
US DOJ approves Alaska-Virgin merger
The US Department of Justice approved the $2.6 billion merger of Alaska and Virgin America airlines, clearing the way for integration. However, the department required Alaska to reduce its code-sharing agreement with American on 20 or more of the 250 routes in a move to preserve competition. more
07/12/2016
Canada grants foreign ownership exemption to Jet Metal and Jetlines
In a departure from current 25% cap on foreign ownership, Jet Metal and Jetlines were granted an exemption by Canadian civil aviation authorities, allowing them to have a 49% share of foreign voting interests. The term of the order is through 2021. more
07/12/2016
Law firms end legal confusion over US ABS rules
Originators of Aircraft ABS deals are not subject to the Dodd-Frank’s 5% risk retention rules, according to a panel of aviation lawyers in a new white paper. Ishka examines their argument and assesses what this means for future ABS issuances. more
06/12/2016
‘Basel IV’ to hit aviation hard but ECAs get off lightly
Proposed amendments to the final elements of the Basel III capital rules – unofficially dubbed “Basel IV” now include an exception for ECA financing. However the new rules are set to penalise traditional secured aviation bank financing and encourage more risky unsecured financing for aviation credits. The new tougher capital requirements could prompt some banks to leave the sector completely. more
05/12/2016
in Regulatory and Accounting , Capital Markets , Aircraft Finance Market
Cyprus Airways to fly again
With the delivery of its first aircraft, an Airbus A319, on Thursday, Cyprus Airways is paving the way to take to the skies again. Its predecessor was shut down in January 2015 after the European Commission ruled it was getting illegal state aid. Based in Larnaca, it will operate A319s throughout the Mediterranean region. more
02/12/2016
Airbus scores neo orders from Aircalin
In an effort to boost tourism to New Caledonia, AirCalin placed a Memorandum of Understanding for two Airbus A330-900neos as well as two A320neos. The move is part of a fleet replacement program at the airline, which is the first to order the wide body in the South Pacific. Delivery is expected after 2018. The aircraft will also be used to expand its Japan and Chinese networks. more
30/11/2016
in Airlines , Manufacturers
Airbus becomes single company on 1 January
Airbus laid out plans for it’s restructuring, which includes merging Airbus Group (formerly EADS) with Airbus Commercial Aircraft. The move requires a reduction in staff of about 1,200 employees and a headquarters move from Paris and Munich to its main manufacturing base in Toulouse. more
30/11/2016
The Aviation Finance Festival
Jun 26 - Jun 27, 2019
InterContinental Dublin, Ireland
Ishka’s exhilarating festival is the premier annual gathering of senior aviation finance professionals offering discussion and insight into the future of the industry.More info
The Aviation Investival New York
Oct 16 - Oct 17, 2019
The Stewart Hotel, United States
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