Ishka : Ishka Provides Trusted, Expert Assessment And Opinion On The Latest Industry Trends And Emerging Issues In The Global Aviation Finance Market.

Ishka NY Investival: Investors debate aircraft leasing risks and returns

An influx of capital penetrates the market for mid-life and older aircraft. more

12/11/2018

Start-up Zephyrus markets debut aircraft ABS

Ishka examines Zephyrus Aviation Capital Limited's debut $336.6 million securitization, Zephyrus Capital Aviation Partners 2018-1 Ltd (Z-CAP 2018 -1). more

01/10/2018

GECAS is first aircraft ABS issuer to use equity asset manager

Och-Ziff will manage the equity portion on GECAS’ START 2018-1 more

19/06/2018

in Lessors and Lease Rates , Capital Markets , Investor Education , Aircraft Finance Market

GECAS launches START 2018-1 ABS, Castlelake prices fifth ABS

Castlelake has priced its fifth aircraft ABS while GECAS is in the market with its eleventh aircraft securitisation. more

08/06/2018

FX issues dampen Korean investor demand

Cost of currency swaps is making senior debt uneconomic for Korean investors. more

31/05/2018

Is new equity here to stay?

Ishka reports from ISTAT’s Asia event in Singapore. more

11/05/2018

in Capital Markets , Investor Education , Aircraft Finance Market

Aviation Schuldschein: NAC repeats issue, no new entrants

Nordic Aviation Capital returns to the Schuldschein market with a $105 million issuance. more

19/04/2018

Lack of transparency holds back aircraft ABS secondary market

A lack of hard information is keeping secondary investors away from a booming market. more

09/04/2018

UAE banks react to fewer Emirates and Etihad deliveries

Ishka reviews UAE aviation finance banks. more

04/04/2018

AFIC moves closer to the capital markets

Ishka researches how Marsh's private insurance product is evolving to support Jolco financings and bond issuances. more

29/03/2018

BA returns with hybrid EETC

British Airways returns with competitively priced EETC. more

27/03/2018

Update: Avolon prices Sapphire Aviation Finance I

Aircraft lessor Avolon has priced it second ABS. more

22/03/2018

Avolon returns to the ABS market with Sapphire 1

Aircraft lessor Avolon is in the market with a $768.4 million asset-backed securitisation backed by a portfolio of 41 mid-life aircraft. more

13/03/2018

Air Canada issues rare non USD EETC

Ishka examines the first Canadian dollar denominated EETC privately issued by Air Canada. more

06/03/2018

ABS Case Study: How was Emerald affected by last year’s airline bankruptcies?

Ishka looks at how Avolon’s Emerald Aviation Finance weathered two airline bankruptcies last year. more

27/02/2018

in Lessors and Lease Rates , Ishka insights , Capital Markets , Aircraft Finance Market

Wings Capital Partners boosts equity base

Ishka speaks with Steve Hannahs, Wings Capital’s CEO and founder, on the lessor’s equity rise and possible return to the ABS market. more

22/02/2018

in Lessors and Lease Rates , Ishka insights , Capital Markets

Update: Issuers contemplate more aircraft ABS refinancings

Ishka investigates how issuers are exploring potential aircraft ABS refinancings, and not always for better coupons. more

19/02/2018

Aircraft ABS E-note sales look to pick up in 2018

Ishka reviews how equity investors are becoming increasingly engaged with aircraft securitisations. more

13/02/2018

What could burst the aviation finance bubble?

Financiers and lessors expect capital flows to continue to be drawn to aviation finance for 2018. more

26/01/2018

in Ishka insights , Capital Markets , Investor Education , Aircraft Finance Market

HNA and Bohai troubles cast a shadow over Avolon

Investors are closely watching what might happen to the various subsidiaries and holdings under HNA Group’s complicated and highly opaque ownership structure, including aircraft lessor Avolon, as the firm faces continued fund-raising challenges. more

05/01/2018

in Lessors and Lease Rates , Ishka insights , Capital Markets

Aviation Schuldschein gathers momentum

Aviation Schuldschein issuances begin to pick up in 2017, but still only account for a tiny fraction of the wider Schuldschein market. more

20/11/2017

in News , Ishka insights , Capital Markets , Premium , Investor Education , Aircraft Finance Market

A growing pipeline of ABS - Ishka New York Conference

More lessors are seeking to issue aircraft asset backed securitisations (ABS), according to delegates at Ishka’s Investing in Aviation Finance Conference held last week in New York. more

24/10/2017

ABS optimism undented by spate of airline bankruptcies

Following the bankruptcies of Alitalia, Air Berlin, and Monarch Airlines, Ishka examines which ABS transactions are the most exposed. more

10/10/2017

in Ishka insights , Capital Markets , Aircraft Finance Market

Are ABS deals inflating asset prices?

Ishka reports on the Investor panel at this week’s ISTAT EMEA event held in Edinburgh. more

28/09/2017

Engine-backed securitisations: a new old frontier?

Ishka examines the recent history of engine-backed securitisations. more

14/07/2017

Spreading its Wings: Wings Capital Partners expands to Dublin

Ishka speaks with Wings Capital Partners founder, Stephen Hannahs, as the US lessor welcomes a new equity partner and boost its asset portfolio. more

02/07/2017

in Lessors and Lease Rates , Ishka insights , Capital Markets

Alitalia – a test case for the modern ABS

Ishka studies the key features of the top three ABS exposed to Alitalia to understand their structural protections for investor protection. more

16/06/2017

in Aviation financings , Ishka insights , Capital Markets

Steady as she goes: Capital markets update 2017 year-to-date

Ishka reviews recent trends within the capital markets for both lessors and airlines. more

19/05/2017

Lessors go unsecured

The major public lessors have reorganised their debt structure with unsecured notes now making up the bulk of their financing. more

10/05/2017

in Lessors and Lease Rates , Lessor finances , Ishka insights , Capital Markets

Will Schuldschein take off for aviation?

Following a series of aviation-related Schuldschein issuances in the past two years, Ishka’s two-part series examines how the German Schuldschein has emerged as the darling of the European private placement market. more

01/05/2017

Investor’s guide: What is Schuldschein?

Following a series of aviation-related Schuldschein issuances in the past two years, Ishka’s two-part series examines how the German Schuldschein has emerged as the darling of the European private placement market. more

26/04/2017

in Ishka insights , Capital Markets , Aircraft Finance Market

European investors warm to aviation

Key takeaways from Ishka’s London April Aviation Investor Conference. more

09/04/2017

in Ishka insights , Capital Markets , Investor Education

2016 capital markets review: Investors embrace lessor deals

Ishka examines the various aviation finance capital market trends of 2016. more

14/02/2017

in Ishka insights , Capital Markets , Investor Education

Reminder: Ishka Deals of the Year Awards submissions deadline

A reminder that the deadline for submissions for Ishka's Deals of the Years Awards is only a few weeks away. The Ishka Deal of the Year Awards celebrate the best closed aircraft financings of 2016. more

15/01/2017

in Ishka insights , Capital Markets , Aircraft Finance Market

Vietnam Airlines completes privatisation

The value of Vietnam Airlines increased 40% to $2.1 billion, paving the way for government divestment of 86% of the airline group. Shares rose 40% with its second public offering in as many months. ANA Holdings holds 8.8%, which Vietnam Airlines holds 70% in Jestar together with Qantas and 49% of Cambodia Angkor Air. more

09/01/2017

Southern Airlines Group Finance gets capital infusion

A $72 million cash infusion will go into Southern Airlines Group Finance Company as part of an agreement between China Southern Airlines and China Southern Air Holding Company (CSAHC) increasing the capital of the finance company to $144 million (CNY1 billion). The deal awaits government approval. China Southern will increase its stake in the financial unit from 21% to 25%, while the group holding 66%. more

09/01/2017

in Lessors and Lease Rates , Capital Markets , Aircraft Finance Market

Qatar takes 10% stake in LATAM Airlines

Qatar Airways subsidiary Qatar Airways Investments (UK) completed the acquisition of 10% of LATAM Airlines as 2016 ended at $10 per share. more

09/01/2017

GoAir nixes IPO plans for now

India’s GoAir postponed its initial public offering saying it has to reach critical mass before making the move. It had planned a $150 million (INR10.22 billion) IPO as part of a plan for its parent company to reduce its stake in the company by 23%. more

09/01/2017

Alitalia gains new financial infusion

A new short-term financing, part of restructuring the loss-making Italian airline, was approved by creditors including UniCredit and Intesa Sanpaolo. The next step is to cut a deal with key stakeholders to develop a financing package that will determine whether or not the carrier survives. more

23/12/2016

China Southern interested in Air Kyrgyzstan stake

China Southern sent a letter of interest in acquiring a 49% stake in Air Kurgyzstan, according to Kyrgyzstan civil aviation authorities, which earlier called for such proposals for the ailing national carrier. more

23/12/2016

United Continental fleet reconsideration could hurt Boeing

The shift in United’s capital expenditures including the indefinite deferral of 61 Boeing 737s as well as other possible changes to the airline’s order book may end up hurting Boeing depending on the size of the ultimate cutback. United has about 200 Boeing aircraft on order the vast majority for the 737 MAX but it is also one of the largest customers for the Dreamliner. The airline has been converting some of its 787 orders to 777-300ERs providing a boost to that program. More concerning is statements that everything is on the table in the fleet reconsideration plans which could signal a shift to Airbus or an increase in the acquisition of used equipment. more

23/12/2016

in Aircraft Asset Profiles , Capital Markets , Aircraft Finance Market

$170mn IPO scheduled for VietJetAir

VietJetAir expects to raise $170 million through an initial public offering, now 95% owned by Nguyen Thi Phuong Thao. The company’s shares will be listed on the Ho Chi Minh City Stock Exchange in February when its valuation is expected to rise to $1.2 billion. The IPO is said to be over subscribed by 200%. more

22/12/2016

Bombardier completes note redemption

Bombardier Inc. redeemed all of its 5.50% Senior Notes due 2018. more

22/12/2016

Lufthansa acquires Brussels Airlines

Lufthansa will take over Brussels Airlines, crippled by the terrorist attacks earlier this year, further boosting Lufthansa’s budget division which has almost single-handedly consolidated the European low-fare market. The German carrier acquired 45% of Brussels Airlines in 2009, with an option to acquire the rest as part of an effort to expand Eurowings and better compete against Ryanair and easyJet. more

20/12/2016

SB Leasing Ireland leases 10 aircraft to Aeroflot

Aircastle and easyJet completed a purchase and leaseback program for 10 Airbus A319-100 aircraft, manufactured in 2005 and 2006, featuring easyJet's distinctive dual over-wing door exit configuration, which enables higher density seating. more

20/12/2016

AirAsia bails out Indonesia AirAsia

In response to a crackdown by civil aviation authorities in Indonesia on airlines without sufficient equity to run operations, The AirAsia Group moved to recapitalize Indonesia AirAsia by purchasing $225.6 million in perpetual capital securities in PT Indonesia AirAsia (IAA), in which it owns a 49% stake. more

20/12/2016

AVA Airways funded by Capital Partners

In its fourth attempt to launch operations, AVA Airways, which proposed to provide service throughout the Caribbean with four Airbus A319-100s, signed a partnership agreement with Capital Partners, a US equity firm, in a deal valued at $65 million. It is going for Dominican Republic certification. more

20/12/2016