Air Lease Corporation was the lone lessor debt issuer in the first six weeks of Q1 2023 with a $700 million bond. more
02/03/2023
Only four unsecured issuances took place in the first six weeks of 2023, totalling $2.26 billion. Around half of the issuances came from Air France-KLM, with EUR 1 billion ($1.081 billion) issued in two tranches of sustainability linked notes. more
21/02/2023
Unsecured debt issuances by airlines jumped to $16.155 billion in Q4 2022, exceeding every other quarter in the year and gaining nearly 36% on Q4 2021. more
06/01/2023
Aircraft lessors tracked by Ishka issued $2.097 billion in unsecured capital markets debt in the fourth quarter of the year, topping the total amount issued in the previous two quarters combined. more
05/01/2023
Two November deals bring the tally of aircraft and airline sustainable finance transactions in 2022 to nine, one more than in 2021. more
20/12/2022
Airborne Capital and Marathon Asset Management have priced a $303-million aircraft ABS, MAST 2022-1, through a private placement which is set to close early next week. more
08/12/2022
Unsecured bond issuance volume by aircraft lessors has picked up so far in Q4 after ALC's $700 million bond. more
29/11/2022
Unsecured bond issuances by airlines rose dramatically in the first half of Q4 2022, already exceeding the combined total of Q2 and Q3 2023. more
25/11/2022
Aviation credits have been quiet in the public debt markets but airlines and lessors have been actively issuing bespoke private aircraft securitisations using 4(a)(2) structures, US investors tell Ishka. more
01/11/2022
Alternative lender explores a potential aircraft loan securitisation next year, in the meantime, capital markets remain volatile. more
12/10/2022
Aircraft lessors tracked by Ishka only issued $602 million in unsecured capital markets debt during the third quarter of the year, less than half of the $1.45 billion issued during Q2 2022. more
11/10/2022
Unsecured bond issuances by airlines slowed for the second consecutive quarter in Q3 2022, as issuances both inside and outside of China dropped further from what were already record-low levels since 2019. more
06/10/2022
A panel of aircraft lessor CEOs at the ISTAT EMEA conference last week predicted that it may take three to four years for the aircraft ABS market to fully return to the record issuance volumes seen in the last five years. more
29/09/2022
in Aircraft values, Lease Rates & Returns , Lessors & Asset managers , Capital Markets
Airline and lessor unsecured bond issuances continued to drop in the first six weeks of Q3 2022, with only $592 million raised by airlines and $174 million by aircraft leasing entities. more
25/08/2022
Dozens of aircraft ABS notes are trading at a discount, raising questions over the current value of some of the junior notes associated with aircraft ABS. more
18/08/2022
Aircraft lessors tracked by Ishka issued a mere $1.45 billion in unsecured capital markets debt during the second quarter of the year, less than half of the $3.2 billion issued during Q1 2022. more
19/07/2022
Airline unsecured bond issuances slowed down further during the second quarter of the year to $4.87 billion, of which only $751 million was issued outside of China. more
15/07/2022
Aircraft lessor Carlyle Aviation Management Limited (Carlyle) has priced a $522.5 million aircraft ABS – the first aircraft ABS to price this year more
15/06/2022
Rising interest rates and a series of successive shocks to the aviation sector including the pandemic and the Ukraine conflict has reduced potential buyer appetite for new subordinate aircraft ABS notes, warn capital market sources. more
01/06/2022
Issuer retreat, with the slowest start to a quarter for lessor bond issuances and airline unsecured volumes half of those in the first six weeks of Q1 2022. more
24/05/2022
Aircraft lessors tracked by Ishka issued a modest $3.2 billion in unsecured capital markets debt during Q1 2022, a steep decline from Q4 2021. more
27/04/2022
Airline unsecured bond issuances outside of China slowed down during the first quarter of the year in the wake of rising inflation, monetary tightening, and the fallout of Russia’s invasion of Ukraine. more
22/04/2022
Ishka reviews what impact inflationary pressures may have on aircraft investors and its relationship with four Ps: Planes, Pilots, Petrol, and basis Points. more
08/02/2022
Airline unsecured debt rose to a new high in 2021 with $63.53 billion in issued bonds, a near-15% increase from last year’s $55.3 billion and more than doubling the $31.31 billion issued in 2019. more
14/01/2022
Aircraft lessors tracked by Ishka issued $25.17 billion in unsecured capital markets debt during the fourth quarter of the year rounding off $52.53 billion raised across 2021 more
06/01/2022
After a remarkable resurgence in the aircraft ABS market this year Ishka offers several predictions for new aircraft ABS issuances in 2022. more
08/12/2021
Five separate aircraft ABS transactions totalling approximately $3.4 billion have priced in the last seven days – signalling a notable revival of the aircraft ABS market and marking the busiest week to date for the asset class. more
10/11/2021
PE firm Avenue Capital Group (Avenue) has sponsored a $255 million ABS transaction, Stellar 2021-1, which will be used to acquire 21 aircraft. Deucalion Aviation Limited is the servicer for the ABS. more
02/11/2021
Ishka reviews some of the key talking points from the virtual Ishka+ North America conference held last week. more
26/10/2021
Dublin-based lessor AerCap on 21st October announced the issuance of a record-breaking $21 billion in unsecured debt, the largest in the history of aircraft leasing. more
22/10/2021
Aircraft lessors tracked by Ishka issued $8.35 billion in capital markets debt during the third quarter including $7.5 billion in USD issuances, a 21% rebound over second quarter USD issuances helped by tightening spreads. more
13/10/2021
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
New rated lessor brings US asset manager Castlelake closer to being able to raise unsecured debt from the capital markets. more
04/10/2021
in Lessors and Lease Rates , Capital Markets
Lessors state that a wave of capital from new and existing investors is driving down margins, particularly for sale/leasebacks, but has also helped resuscitate the trading of leased aircraft. more
16/09/2021
in Capital Markets , Aircraft Finance Market
US lessor Castlelake is exploring a potential collaterised loan obligation (CLO) based on aircraft loans which could make it the first entity to create a publicly-traded CLO for the asset class, as it expands its aircraft financing division. more
02/09/2021
This is a new series of reports. Download data sheets with summaries of Q3 2021 issuances to date by aircraft lessors and airlines. more
19/08/2021
US fund manager and leasing firm Castlelake priced a $450 million aircraft ABS refinancing last week: Castlelake Aircraft Structured Trust 2017-1R (CLAS 2017-1R). more
27/07/2021
White Oak Commercial Aviation has been in the market for several weeks with a $485 million aircraft engine securitisation, Thrust 2021-1, with a unique collateral of 100% widebody engines. more
15/06/2021
Aircraft lessor SKY Leasing (SKY) has closed its $663 million ABS SLAM 2021-1 which achieved a record low yield for an aircraft ABS. more
07/06/2021
in Lessors and Lease Rates , Capital Markets
Aircraft lessors tracked by Ishka rounded off the first quarter of 2021 with $9.19 billion in bond issuances, a two-fold jump from the previous quarter. more
27/04/2021
Airline unsecured Euro issuances topped €4.85 billion ($5.82 billion) in the first quarter, surpassing the entire volume of unsecured issuances during 2020 of €3.56 billion ($4.23 billion) by 53%. more
12/04/2021
Aviation Capital Group’s (ACG) new CEO Tom Baker believes a wave of recent lessor M&A activity will “create opportunities” for other leasing firms and describes how the market might be ready for a hybrid aircraft ABS involving both aircraft leases and loans. more
25/03/2021
Air Lease Corporation (ALC) has recouped 40% of the total rent deferred throughout the pandemic according to its latest results. The Californian lessor agreed a total of $240.4 million in deferred rent to its lessees last year more
02/03/2021
in Lessors and Lease Rates , Capital Markets , Aircraft Finance Market
Singapore-headquartered lessor Avation agreed a five-year bond extension with bondholders in February furthering a trend of lessors forced to reach distressed debt agreements with creditors in the wake of the Covid-19 pandemic. more
23/02/2021
in Lessors and Lease Rates , Capital Markets , Aircraft Finance Market
Aircraft lessors tracked by Ishka raise $7.83 billion in USD issuances during a three-week period from mid-January to early February, taking advantage of a benign market for IG-rated issuers to attain some of the lowest coupons in recent history. more
18/02/2021
The Covid-19 crisis drove a 78% surge in unsecured capital markets debt by airlines around the world in 2020, with 212 issuances amounting to $55.3 billion, up from $31.1 billion in 2019. more
29/01/2021
in Airline Profiles , Capital Markets , Aircraft Finance Market
US fund manager and leasing firm Castlelake has priced the first commercial aircraft ABS in the 10 months since the global onset of the Covid-19 pandemic – achieving one of the lowest yields to date for an aircraft ABS and beating pricing on its last two transactions issued in 2018 and 2019. more
20/01/2021
In today’s Airline Credit Profile, Ishka reviews how Singapore Airlines Group is managing the COVID 19 crisis. more
14/01/2021
Airlines have raised $97.2 billion in publicly disclosed commercial debt during the Covid-19 crisis, including $10.2 billion signed since October, according to Ishka research. more
11/12/2020
in Airline Profiles , Capital Markets