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Loan Datasheet: Aircraft financing picks up, but swap costs remain high

The latest Ishka’s loan sheet data sheet examines recent loans for commercial aircraft lessors and airlines, and the dynamics impacting aircraft lenders. more

17/05/2024

in Aviation Banks and Lenders

Stan Chart inks GIFT City aircraft loan, Global Jets prices BJETS 2024-1

Ishka examines a GIFT City financing for Indian carrier Vistara, and looks at the pricing for Global Jet Capital's seventh ABS, BJETS 2024-1. more

26/04/2024

in Capital Markets , Aviation Banks and Lenders

US airlines look to lessors for finance leases

More airlines, including top US carriers, are looking to lessors for finance leases as they seek to put key assets on their balance sheet, confide leasing sources. more

23/04/2024

in Aviation Banks and Lenders

Loan Datasheet: JOLCO resurgence despite a weak Yen, airlines and lessors turn to sustainable financing

The latest Ishka’s loan sheet data sheet examines recent loans for commercial aircraft lessors and airlines, and the dynamics impacting aircraft lenders. more

03/04/2024

in Aviation Banks and Lenders

Sust Finance 2023 round-up: Deals grow with Air France-KLM well ahead of others

Sustainable finance deals in aviation involving airlines and lessors or with aircraft as a collateral grew once again in 2023, matching the approximate 60% annual growth rate of the preceding year. more

06/02/2024

in ESG & Regulation , Capital Markets , Aviation Banks and Lenders

Airlines look to insurance-backed financings, SWAP rates drop further

The latest Ishka’s loan sheet data sheet examines recent loans for commercial aircraft lessors and airlines, and the dynamics impacting aircraft lenders. more

18/01/2024

in Aviation Banks and Lenders

Ishka extends 2023 Ishka Deals of the Year Award submissions

After several requests for extensions, Ishka has pushed back the deadline for 2023 deal of the year submissions till the 26th of January. more

10/01/2024

in Aircraft values, Lease Rates & Returns , Other , Aviation Banks and Lenders

Loan Datasheet: Lessors raise sust-loans, margins dip, swaps tighten

The latest Ishka’s loan sheet data sheet examines recent loans for commercial aircraft lessors and airlines, and the dynamics impacting aircraft lenders. more

20/12/2023

in Aviation Banks and Lenders

Ashland seeks to be a serial issuer as it prices debut ABS

Aviation alternative lender Ashland Place Finance (Ashland) has priced a debut $324.3 million aircraft loan ABS, Ashland 2023-1 which was oversubscribed. more

12/12/2023

in Capital Markets , Aviation Banks and Lenders

Ashland Place markets debut aircraft loan ABS

Aviation alternative lender Ashland Place Finance (Ashland) is currently in the market with a debut $324.3 million aircraft loan ABS, Ashland 2023-1. more

11/12/2023

in Aircraft values, Lease Rates & Returns , Aviation Banks and Lenders

Ishka 2023 Deals of the Year Award submissions now open!

Ishka is now accepting submissions for its Deal of the Year Awards. The Ishka Deal of the Year Awards celebrate the best-closed aircraft financings of 2023. more

08/12/2023

in Aircraft values, Lease Rates & Returns , Capital Markets , Aviation Banks and Lenders

Sust Finance in aviation: Taking stock of incentives, aircraft, banks, and attitudes

Ishka examines the typical incentive or penalty in aviation sustainable finance transactions, favoured aircraft types, and most active banks. more

12/09/2023

in ESG & Regulation , Aviation Banks and Lenders

Standard Chartered sells aircraft leasing arm and loan book to AviLease and Apollo

Riyadh-based aircraft lessor AviLease is set to buy the leasing arm of Standard Chartered in a $3.6 billion deal. more

29/08/2023

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers , Aviation Banks and Lenders

Cargo softening prompts Western Global Airlines to file for Chap 11

US cargo carrier Western Global Airlines (Western Global) filed for Chapter 11 bankruptcy last week – a casualty of the softening cargo market, and the impact of the sudden 2022 Chinese Covid lockdown on export volumes. more

15/08/2023

in OEMs, Cargo & Engines , Aviation Banks and Lenders

Loan Datasheet: Lessors look to banks to bolster liquidity

The latest Ishka’s loan sheet data sheet examines recent loans for commercial aircraft lessors and airlines, and the dynamics impacting aircraft lenders. more

10/08/2023

in Aviation Banks and Lenders

M&A: Voyager files for Chapter 11 after agreeing Azorra sale

Aircraft lessor Voyager Aviation Holdings (VAH) filed for voluntary Chapter 11 bankruptcy last week after signing a $743.5 million sale agreement for the bulk of its assets to rival leasing firm Azorra Aviation Holdings (Azorra). more

31/07/2023

in Lessors & Asset managers , Aviation Banks and Lenders

Sust Finance: New deals by EasyJet, Jet2 and JAL, Heathrow adopts flight emissions KPIs

Six new sustainable finance transactions involving airlines or aircraft – including one lessor – have been added to Ishka’s list since the last update in May, including four newly announced in June and July. more

27/07/2023

in ESG & Regulation , Aviation Banks and Lenders

Briefing: 14 banks have now set 2030 aviation emissions intensity targets – Ishka research

New Ishka research reveals that at least 14 global lenders have published 2030 emissions intensity reduction targets for aviation lending, and a further 12 are expected to announce aviation targets soon. more

14/07/2023

in ESG & Regulation , Aviation Banks and Lenders

Alt lenders survey: spreads creep up over 400bps

A new survey conducted by Ishka examines risk-adjusted spreads on bilateral secured aircraft loans agreed by aviation alternative lenders in the last six months. more

03/07/2023

in Lessors & Asset managers , Aviation Banks and Lenders

Sustainable Finance: Allegiant and HK Express join in as issuances pick up

At least seven sustainable finance transactions involving aircraft and airlines have been announced so far in 2023. Recent issuers include Japan Airlines, HK Express, Allegiant, KLM, and Air France. more

24/05/2023

in ESG & Regulation , Aviation Banks and Lenders

Lenders survey: Banks pass on higher funding costs to lessors

Financiers say risk-adjusted margins for secured debt for aircraft lessors have risen since the start of the year as banks increasingly pass on funding costs to aviation borrowers. more

11/05/2023

in Aviation Banks and Lenders

Ishka announces 2022 Deal of the Year Award Winners

Ishka presents the full list of its 2022 Deal of the Year Award winners. Ishka will be celebrating with the winners at 5.30pm at an informal drink reception at the sixth annual Ishka Aviation Finance Festival on the 23rd of May in Dublin at the Conrad Hotel. more

26/04/2023

in Lessors & Asset managers , Aviation Banks and Lenders

Aviation financiers shrug off Credit Suisse concerns

The second of a new regular data sheet series examining recent loans for commercial aircraft lessors and airlines, and the dynamics impacting aircraft lenders. more

18/04/2023

in Aviation Banks and Lenders

Trading: Stratos acquires Magi as lessors expect Q2 aircraft trading surge

Aircraft asset manager Stratos announced on 6th March it has acquired London-headquartered rival leasing platform Magi. Meanwhile, financiers and lawyers prepare for a busy April and May as delayed aircraft trades look set to close. more

06/03/2023

in Lessors & Asset managers , Aviation Banks and Lenders

The logic behind Castlelake’s new aviation reinsurance arm

Ishka speaks with Armin Rothauser, partner for asset-backed direct lending at Castlelake, about the pressures facing lenders and why the asset manager has launched Itasca Re to reinsure aircraft non-payment insurance (ANPI) for secured aircraft loans. more

15/02/2023

in Aviation Banks and Lenders

Aviation loans data sheet: Lenders offer lessors warehouses

This is a new regular data sheet series examining recent loans for commercial aircraft lessors and airlines, and the dynamics impacting aircraft lenders. more

09/02/2023

in Aviation Banks and Lenders

Q4 2022 lenders survey: Bank margins rise by a further 25bps-50bps

Aviation financiers confirm that risk-adjusted margins for non-recourse aircraft loans have risen by 25bp-50bps over base rates during the last four months of 2022, while rising interest rates are also placing pressure on advance rates (LTVs). more

19/01/2023

in Aviation Banks and Lenders

January sales: Standard Chartered to sell leasing platform, lessors prep aircraft portfolios

Next week will be a busy one in Dublin for the aircraft leasing industry as lessors get a first look at leased aircraft portfolios and at least one leasing platform currently for sale. more

12/01/2023

in Aircraft values, Lease Rates & Returns , Aviation Banks and Lenders

High Ridge CEO: 2023 could be a big year for lessor M&A

2023 could be an active year for M&A in the aircraft leasing space, according to the CEO of start-up lessor High Ridge Aviation, Greg Conlon, who also tells Ishka that High Ridge is actively looking at a couple of potential transactions. more

10/01/2023

in Lessors & Asset managers , Aviation Banks and Lenders

Briefing: Lessons from JP Lease’s A350 JOL Ch. 11 restructuring

A year on, Ishka examines the legal takeaways from a heavily contested Chapter 11 bankruptcy restructuring used to prevent an attempted auction of leased Airbus A350s by a distressed debt investor at the expense of JOL investors and junior debt holders more

03/01/2023

in Investor Briefings , Other , Aviation Banks and Lenders

Alt lenders on pause as insurance funds grapple with rapid rate rise

Ishka understands that several alternative aviation lenders (alt lenders) have ceased offering new loans for the rest of 2022 as their primary source of capital, insurance funds, have been forced to pause new aircraft investments to manage the impact of rapid interest rate rises on their existing investments. more

06/12/2022

in Aviation Banks and Lenders

Ishka NY 2022: Private placements pick up for airlines and lessors

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

in Capital Markets , Aviation Banks and Lenders

Banks asked to extend warehouses due to absent aircraft ABS market

Aircraft lessors are being offered competitive terms for new aircraft warehouse facilities by several key aviation investment banks, confide financiers, despite the fact that the aircraft ABS market has been effectively shut for new issuers since the Russian invasion of Ukraine. more

16/09/2022

in Aviation Banks and Lenders

Ishka Tokyo: Japanese regional banks held back by pandemic fears

Japanese aviation deal arrangers are hopeful that the country’s upcoming international reopening will help local lenders regain confidence in the industry, stated delegates at Ishka’s Investing in Aviation Finance: Japan conference held in Tokyo last week. more

13/09/2022

in Aviation Banks and Lenders

Lessors and airlines face funding pressure as banks raise margins

Risk-adjusted margins rise for new secured aircraft loans as banks pass on rising funding costs to lessors and airlines. more

09/09/2022

in Aviation Banks and Lenders

How aviation alt lenders have carved out a non-recourse niche

Alternative lenders (alt lenders) have benefitted from the shake-up in aircraft financing caused by the pandemic, and are continuing to win finance mandates, according to Ishka research. more

01/09/2022

in Aircraft values, Lease Rates & Returns , Aviation Banks and Lenders

The slide in unlevered sale/leaseback returns

Unlevered returns for new-technology aircraft sale/leasebacks have suffered a significant drop from Q1 2021 to Q1 2022, according to Ishka research, after briefly spiking during the pandemic. more

14/07/2022

in Aircraft values, Lease Rates & Returns , Lessors & Asset managers , Aviation Banks and Lenders

How Air France and Volaris are prioritising new sustainable aircraft financings

Air France will make sustainable finance a “strong preference” in future aircraft financing RFP processes following the closure of three sustainability-linked transactions earlier this year, Ishka can reveal. more

01/07/2022

in ESG & Regulation , Aviation Banks and Lenders

How Air France and Volaris are prioritising new sustainable aircraft financings

Air France will make sustainable finance a “strong preference” in future aircraft financing RFP processes following the closure of three sustainability-linked transactions earlier this year, Ishka can reveal. more

01/07/2022

in ESG & Regulation , Aviation Banks and Lenders , Sustainable Finance

Datasheet: Scramble for slots despite mounting conversion costs

Ishka summarises recent developments in the cargo space, including P2F conversion news, waiting times and costs, freighter transactions, and cargo market updates. more

23/06/2022

in Aircraft Asset Profiles , Aircraft Finance Market

Asset managers update: Dr. Peters launches Backbone, Carlyle issues ABS

Asset managers have been active so far in Q2 2022 with several announced aircraft transactions, asset financing agreements, and staff hires. more

14/06/2022

in Aircraft Finance Market

Swap costs and missing ABS market slow aircraft trading

Rising interest rate swap costs and an ongoing freeze in the aircraft ABS market are slowing the trading of leased aircraft, say lessors. more

10/06/2022

in Lessors and Lease Rates , Aircraft Finance Market

Thai AirAsia X enters restructuring, Garuda secures third extension

Southeast Asian carriers are once again in the spotlight after Thai AirAsia X filed for bankruptcy protection on 17th May 2022 and Garuda Indonesia secured an extension to its restructuring proceedings for a third time. more

09/06/2022

in Airline Profiles , Aircraft Finance Market

Airlines confirm another $980m in pandemic-related state aid

This is the 56th updated summary of airline state aid during the Covid-19 crisis. Ishka estimates that as of 7th June 2022 governments have introduced $210.87 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. more

07/06/2022

in Aircraft Finance Market

10-year-old aircraft values, wet leasing picks up, Norwegian recommits to MAXs

This is the 76th in a series of supplements to Ishka’s ‘Transaction Economics’ service. It delivers ‘the Ishka View’ on events that have a bearing on the near-term performance of aircraft values, lease rates, and the market dynamics that matter, under today’s market environment. more

06/06/2022

in Lessors and Lease Rates , Aircraft Finance Market

Rate hikes place pressure on new aircraft ABS junior notes

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

in Capital Markets , Aircraft Finance Market