Ishka insights: indispensable aviation data, analysis and opinion
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Merit AirFinance prices debut loan ABS

The new aviation loan ABS from Merit AirFinance has priced, according to Bloomberg data and sources familiar with the deal. more

12/03/2026

in Capital Markets , Aviation Banks and Lenders

Gulf crisis: Lessors share concerns on ABS disruption and unhedged airlines

Most lessors speaking to Ishka in San Diego say they are still ‘risk on’ for Middle East carriers. more

09/03/2026

in Lessors & Asset managers , Airline trends & analysis , Capital Markets , Aviation Banks and Lenders

ME crisis continues, Avolon, K2, Aircastle & Deucalion score in the secondary market, Genesis's new PE mandate, 10-year old Boeing WB values

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

06/03/2026

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

Lessors raise $2.4 billion in unsecured debt in February

Lessors raised $2.4 billion in unsecured debt in February, bringing the total to date for 2026 to $6.25 billion. more

03/03/2026

in Lessors & Asset managers , Capital Markets

Transaction Update: DAE agrees to buy Macquarie, aircraft spared new US tariffs, ATSG exits A321 conversion JV, 10-year-old Airbus widebody values

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

27/02/2026

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

Sprite 2026-1 aircraft freighter lease ABS prices

Sprite 2026-1, the converted freighter aircraft lease ABS from World Star Aviation, has priced. more

20/02/2026

in Lessors & Asset managers , Capital Markets , OEMs, Cargo & Engines

Transaction Update: ACG acquires 24-strong Avolon portfolio, Vietnamese carriers buy big in Washington

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

20/02/2026

in Lessors & Asset managers , Airline trends & analysis , Capital Markets , OEMs, Cargo & Engines , Aviation Banks and Lenders

Transaction Update: BlueFive Capital launches new leasing platform, influx of ABS issuances continues

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

16/02/2026

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

World Star markets converted freighter aircraft lease ABS

World Star Aviation is in the market with a $495 million aircraft lease ABS, Sprite 2026-1. more

12/02/2026

in Lessors & Asset managers , Capital Markets , OEMs, Cargo & Engines

Marathon and Castlelake aircraft lease ABS deals price

Two aircraft lease ABS, from Marathon Asset Management and Castlelake, have priced after coming to the market this week. more

11/02/2026

in Lessors & Asset managers , Capital Markets

Castlelake markets $843 million aircraft lease ABS CLAS 2026-1

Castlelake is in the market with its first ABS of the year, an $843.279 million aircraft lease securitisation. more

09/02/2026

in Lessors & Asset managers , Capital Markets

Marathon markets $615.18 million MAST 2026-1 aircraft lease ABS

The dual-tranche issuance is the second from Marathon, after the privately placed MAST 2022-1. more

09/02/2026

in Lessors & Asset managers , Capital Markets

2025 lessor unsecured debt: total issuance down, but yields continue to fall

Lessors tracked by Ishka raised $20.18 billion on the unsecured bond markets in 2025, a total around 20% lower than in 2024. more

06/02/2026

in Lessors & Asset managers , Capital Markets

PK AirFinance loan ABS prices, smashes floor on spreads

PK AirFinance loan ABS prices, smashes floor on spreads more

05/02/2026

in Capital Markets , Aviation Banks and Lenders

Transaction Update: Lessors hit cap markets, TrueNoord and ACG amend bank deals, five-year-old turboprop values

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

05/02/2026

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

PK AirFinance markets first aviation loan ABS of 2026

PK AirFinance is in the market with its latest aviation loan ABS, PKAIR 2026-1. more

02/02/2026

in Capital Markets , Aviation Banks and Lenders

Trump picks new Fed chair, Falko closes $672 mn facility, five-year-old Boeing aircraft values

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

30/01/2026

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers , Airline trends & analysis , Capital Markets , OEMs, Cargo & Engines

High Ridge prices $603.2 million aircraft lease ABS with tight spreads

The debut aircraft lease ABS from High Ridge Aviation has priced. more

28/01/2026

in Lessors & Asset managers , Capital Markets

Altavair promotes team as KKR ups stake, PwC Ireland and Avolon share 2026 outlooks

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

23/01/2026

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

High Ridge markets debut $603.2 million aircraft lease ABS

Phantom 2026-1, a $603.2 million aircraft lease securitisation, is a dual-tranche ABS and the second deal to hit the market in 2026. more

20/01/2026

in Lessors & Asset managers , Capital Markets

Perseus prices $680.11 million lease ABS

MAPS 2026-1, the new aircraft lease ABS from Perseus Asset Management has priced more

19/01/2026

in Lessors & Asset managers , Capital Markets

Perseus markets first aircraft lease ABS of the year

Perseus Asset Management (Perseus) is hitting the ABS market early with the first securitisation of the year – a $680.11 million lease ABS. more

15/01/2026

in Lessors & Asset managers , Capital Markets

Call for awards submissions

Ishka and Airfinance Global are now accepting submissions for their combined Deal of the Year Awards. The Deal of the Year Awards celebrate the best-closed aircraft financings of 2025. more

09/01/2026

in Lessors & Asset managers , Capital Markets , Aviation Banks and Lenders

Aviation ABS 2025 roundup – and what to expect in 2026

Just over $10 billion in aviation ABS paper was issued in 2025. more

07/01/2026

in Lessors & Asset managers , Capital Markets

Willis locks in pricing for WEST IX engine ABS

The latest aircraft engine ABS from Willis Lease Finance Corporation (WLFC), WEST IX, has priced with tightened spreads compared to the lessor’s previous issuance this year. more

15/12/2025

in Lessors & Asset managers , Capital Markets , OEMs, Cargo & Engines

Willis markets WEST IX engine ABS

Willis Lease Finance Corporation (Willis) is in the market with a $392.9 million engine ABS. more

12/12/2025

in Capital Markets , OEMs, Cargo & Engines

Cap Markets November: Lessors issue $2.25bn in bonds but volumes still lag 2024

Lessors tracked by Ishka raised $2.25 billion in unsecured debt in November, with bonds issued by AviLease, SMBC Aviation Capital, CDB Leasing, and ICBCIL. more

03/12/2025

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

US Fed minutes hint at division over December rates cut

Those at the meeting expressed “strongly differing views” as to the appropriate steps to be taken on monetary policy next month. more

20/11/2025

in Capital Markets , Other

Carlyle’s AASET 2025-3 prices

The latest aircraft lease ABS from Carlyle Aviation Partners (Carlyle) has priced, achieving yields of 5.301% on its $526.182 series A notes and 5.801% on its $76.254 million series B notes. more

17/11/2025

in Lessors & Asset managers , Capital Markets

Carlyle markets its third aircraft lease ABS of the year

Carlyle Aviation Partners (Carlyle) is back in the aircraft lease ABS market with its third transaction of the year, AASET 2025-3. more

13/11/2025

in Lessors & Asset managers , Capital Markets

Cap Markets October: American's $1.1bn EETC, Southwest’s $1.5bn bond, lessors issue $1.85bn of unsecured notes

October was a bumper month for airlines in the Capital Markets with American Airlines marketing a $1.1 billion EETC and Southwest Airlines pricing $1.5 billion in unsecured bonds.  more

04/11/2025

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

Griffin’s $1.245 billion debut aircraft ABS prices

Griffin Global Asset Management (Griffin)’s $1.245 billion aircraft lease ABS, GGAM 2025-1, has priced. more

20/10/2025

in Lessors & Asset managers , Capital Markets

‘Walk before you run’ – are investors ready for a full aircraft ABS cap stack?

One of the big questions from attendees at the Ishka Aviation Investival: North America in New York was the level of investor appetite for subordinated ABS tranches - including the elusive aircraft ABS E note. more

17/10/2025

in Lessors & Asset managers , Capital Markets

Castlelake’s CLAS 2025-3 ABS prices

CLAS 2025-3, the latest aircraft lease ABS transaction from Castlelake – and its third of the year – has priced. more

10/10/2025

in Lessors & Asset managers , Capital Markets

Griffin markets debut ABS master trust with $1.245 billion issuance

Griffin Global Asset Management (Griffin) is marketing its debut aircraft lease ABS, GGAM 2025-1. more

10/10/2025

in Lessors & Asset managers , Capital Markets

Lessors’ unsecured debt costs could be set to jump for 2026 refinancings

Around $21 billion in US dollar-denominated unsecured lessor bonds is due to mature next year, with a weighted average issuance yield of 3.18%. more

08/10/2025

in Lessors & Asset managers , Capital Markets

Cap Markets: Lessors raise $2.6 billion in unsecured debt in September, AerCap kicks off October with $1.2 billion note issue

After a muted August for unsecured lessor bond issuance, several key players have returned to the market. more

30/09/2025

in Lessors & Asset managers , Capital Markets

Ashland Place breaks aviation records as it prices second ABS

Ashland Place’s new $414.4 million loan ABS has priced, achieving a record-low spread on its senior tranche. more

30/09/2025

in Capital Markets , Aviation Banks and Lenders

Ashland Place markets second aviation loan ABS

Alternative lender Ashland Place is back in the ABS market with its second issuance, APL Finance 2025-1 – a $414.4 million four-tranche aviation loan securitisation. more

26/09/2025

in Capital Markets , Aviation Banks and Lenders

Navigator 2025-1 ABS prices favourably

Navigator 2025-1, the third and latest aircraft lease ABS issuance from the Navigator platform, has priced. more

18/09/2025

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers , Capital Markets

PK AirFinance’s PKAIR 2025-2 ABS prices

PK AirFinance’s latest aviation loan ABS, PKAIR 2025-2, has priced. more

10/09/2025

in Capital Markets , Aviation Banks and Lenders

DAE markets $610 million Navigator 2025-1 aircraft lease ABS

The dual tranche issuance is the third from the Navigator JV between DAE and PIMCO, following last year’s Navigator 2024-1 and 2021’s Navigator 2021-1. more

10/09/2025

in Lessors & Asset managers , Capital Markets

PK AirFinance markets $827 million loan ABS

Apollo-backed alt lender PK AirFinance is in the market with its second aviation loan ABS of the year, PKAIR 2025-2. more

05/09/2025

in Capital Markets , Aviation Banks and Lenders

Cap Markets: CALC and ICBCIL only lessor debt issuers in August

A typically muted August saw just two lessor unsecured bond issuances for a total of $208 million raised for what was the lowest monthly total to date this year. more

26/08/2025

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

When will we see more C and E note issuance for aircraft lease ABS?

There has been a noticeable absence of subordinated debt issuance in recent aircraft lease ABS transactions. more

22/08/2025

in Lessors & Asset managers , Capital Markets

Lessor unsecured debt issuance bounces back to $2.7 billion in July

Leasing unsecured debt issuance rose to its highest level in four months in July after a muted second quarter. more

07/08/2025

in Lessors & Asset managers , Capital Markets

Pricing: Castlelake’s $614.8 million ABS CLAS 2025-2 

Castlelake’s latest aircraft lease ABS, CLAS 2025-1, has priced, achieving a yield of 5.528% on its class A notes and a yield of 6.387% on its class B notes. more

21/07/2025

in Lessors & Asset managers , Capital Markets

Castlelake markets $614.8 million aircraft lease ABS

US fund manager and leasing firm Castlelake is back in the market with its second aircraft lease ABS of the year, CLAS 2025-2. more

16/07/2025

in Lessors & Asset managers , Capital Markets

Azorra and Avolon kick off H2 unsecured debt issuance 

Two lessors have come to market with unsecured issuances in the first few weeks of July, issuing a total of $1.2 billion. more

10/07/2025

in Lessors & Asset managers , Capital Markets