Ishka insights: indispensable aviation data, analysis and opinion
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Loan Datasheet: Avolon raises $1.2 bn, SMBC upsizes facility to $3.7 bn, JetBlue agrees $500 mn debt framework with Sky Lease

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

01/05/2026

in Aviation Banks and Lenders

Borrowers tap cap markets, Arcus to buy a stake in TrueNoord, new-build Boeing WB values

Ishka's Transaction Update is a report series that examines key trends, recent deal flow, and major announcements in aviation and aircraft leasing. more

01/05/2026

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

April Aviation Debt Pricing Comp: Cap markets react to Iran conflict

An overview of the most recent trends in lessor and lender financing costs across both capital markets, commercial bank debt and private aviation alt lenders. more

29/04/2026

in Capital Markets , Aviation Banks and Lenders

Jet Fuel Crisis: Airlines request rent deferrals from lessors

Lessors speaking with Ishka confirm that more airlines are asking for rent deferrals due to high jet fuel prices and the disruption to jet fuel supply caused by the war in Iran. more

24/04/2026

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

Spirit bailout talks advance, JetBlue dismisses bankruptcy risk, new-build Airbus 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

24/04/2026

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

Q1 Bank Survey: Margins stable but aviation banks brace for higher funding costs

Lenders share that the Iranian conflict will likely force bank margins higher to accommodate both risks facing airlines and increased funding costs. more

14/04/2026

in Lessors & Asset managers , Aviation Banks and Lenders

Aircraft buyers: ITE and Blackstone pick DAE for jumbo leasing sidecar

ITE and Blackstone Credit & Insurance (BXCI) have announced a new aircraft leasing sidecar with Dubai Aerospace Enterprise (DAE). more

09/04/2026

in Capital Markets , Aviation Banks and Lenders

Doric’s MD discusses aircraft sales as firm exits aviation

Doric is preparing to sell the remaining aircraft in its portfolio as part of a gradual exit from aviation asset management. Ishka speaks with Sibylle Paehler, Doric’s Managing Director and co-founder. more

01/04/2026

in Lessors & Asset managers , Other , Aviation Banks and Lenders

ACMI provider Avion Express looks to hand back aircraft to lessors

Lithuanian ACMI provider Avion Express is understood to be in talks with lessors about returning more than 20 Airbus A320ceos or roughly half its fleet, according to multiple leasing sources more

30/03/2026

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

Ishka London: ‘Lost month’ of aircraft ABS deals as Iran conflict slows issuances

Sources warn that the war in the Middle East is having a potential chilling effect on aviation ABS issuances, with issuers mulling whether to delay deals. more

25/03/2026

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

Ishka London: Deals still going ahead but if Iran conflict continues ‘everything changes’

Traders and banks say deals are continuing as normal but several have warned that if the conflict continues then it would begin to disrupt the aviation finance market. more

24/03/2026

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

Q1 2026: Leasing debt costs continue to drop

The costs of debt options available to lessors broadly continued to fall from 2025 Q4 to 2026 Q1, according to Ishka research. more

18/03/2026

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

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

Briefing: How IndiGo unlocked Japanese tax equity for Indian aviation

Following IndiGo's landmark JOLCO transaction, the first of its kind for an Indian airline, Ishka delves into the legal and structural changes in India which made the deal possible. more

10/03/2026

in Airline trends & analysis , 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

Bank survey: Lessors push banks to refinance 2023 and 2024 deals

Banks say some lessors are asking some lenders to refinance relatively recent aircraft portfolio financings or revolving facilities with cheaper terms. more

27/02/2026

in Aviation Banks and Lenders

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

Loan Datasheet: SMBC announces $2bn syndicated facility, two new engine financings close, PAL secures PDP funding

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

17/02/2026

in Aviation Banks and Lenders

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

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

CVC acquires Marathon Asset Management, two new aviation lending platforms announced

This week has seen several significant announcements across both aircraft equity investments and direct lending platforms. more

27/01/2026

in Lessors & Asset managers , Aviation Banks and Lenders

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

Engine survey Q4 2025: CFM56-5B prices firm, have CFM56-7B prices started to ‘peak’?

The Ishka engine survey explores spot market pricing, and leases, for popular narrowbody engine types based on responses by active engine lessors and investors. The latest survey was conducted between October and December 2025. more

05/01/2026

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

Will PIA’s privatisation finally happen? Venezuela & US tensions cool Caribbean demand

Ishka’s Airline Credit Profile team provide a detailed macro and operational breakdown, aimed at risk officers, for some of the key airlines in the headlines... more

17/12/2025

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

A look at Allegiant’s 2026 financing and fleet plans

Allegiant Air (Allegiant) has 34 remaining Boeing 737 MAX deliveries from a 50-strong order announced in January 2022, along with 80 options. Ishka speaks with Asad Shaikh, Vice President of Fleet & Corporate Finance at Allegiant about the airline’s immediate fleet and financing plans. more

10/12/2025

in Airline trends & analysis , Aviation Banks and Lenders

Briefing: The current cost of aircraft novations

Lessors hurry airlines to finish novations in time for end-of-year aircraft trading rush. more

04/12/2025

in Lessors & Asset managers , ESG & Regulation , Aviation Banks and Lenders

SAVi Five: COP30 aviation takeaways, CDB Aviation reports emissions decoupling, and more…

The 2025 UN Climate Change Conference (COP30) ended in Brazil on 21st November with a final agreement delivered on 22nd November after all-night negotiations. more

01/12/2025

in ESG & Regulation , Other , Aviation Banks and Lenders

SMBC Aviation catches Thanksgiving bond window, AerFin funds A320neo part out

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

27/11/2025

in Aviation Banks and Lenders

Q3 Bank Survey: LTVs rise as banks compete on terms to win deals

Risk-adjusted margins on new aircraft loans and warehouse facilities dropped again slightly in the past three months, Ishka research shows, driven by tough competition between lenders looking to win financing mandates. more

06/11/2025

in Lessors & Asset managers , Aviation Banks and Lenders

Loan Datasheet: HCOB exits aviation with $450m sale, Clover renews facility, Air India completes first GIFT City loan

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

30/10/2025

in Aviation Banks and Lenders

Q3 survey: Aviation alt lenders sharpen margins following Ashland ABS pricing

Aviation alt lenders have dropped margins further in the last two months, according to Ishka research, with multiple surveyed respondents citing the successful pricing of Ashland Price’s $414.4 million second aircraft loan ABS as a key benchmark. more

23/10/2025

in Aviation Banks and Lenders

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

Update: A quick look at Castlelake's new lending arm – Merit AirFinance

Ishka updates a report looking at the services offered by Castlelake's new lending arm – Merit AirFinance more

19/09/2025

in Aviation Banks and Lenders

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

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

Fewer deliveries push AFIC, Balthazar, and Itasca insurance premiums lower

Ishka research indicates that premiums for non-payment insurance (NPI) on new aircraft financings have lowered substantially over the past 12 months as insurance products compete to win mandates on a relatively small pool of available financings. more

27/08/2025

in Aviation Banks and Lenders

Challenge Airlines on its leasing needs, a look at Castlelake’s new lending arm

Ishka catches up with Challenge Group’s CFO, Daniel Ganem, and chief investment officer Michael Koish about their financing and leasing needs, and how market values are shaping up for 767s, and older 747s and 777s. more

19/08/2025

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

Loan Datasheet: ORIX closes three loans, Hanwha secures syndicated facility, EasyJet enters $1.7bn RCF

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

15/08/2025

in Aviation Banks and Lenders

Briefing: Why shipping JOLCO investors are coming back to aircraft deals

Japanese investors are returning to aviation JOLCOs after environmental legislative changes, first introduced in 2023, have curbed the attractiveness of ship financings for some Japanese tax investors. more

01/08/2025

in Airline trends & analysis , Aviation Banks and Lenders

Will Indian carriers soon be able to access the JOLCO market?

JOLCO arrangers, aviation financiers and lawyers debate whether the implementation of the CTC in India could lead to a first Indian JOLCO. more

21/07/2025

in Lessors & Asset managers , Aviation Banks and Lenders

Average aviation alt lender spreads drop below 300bp for the first time

Aviation alternative lender margins tightened further in Q2 2025 according to Ishka research, with the average spread of regular deal flow now at 295bps over SOFR – marking the first time that margins have dropped below 300bps since Ishka began its quarterly survey in 2023. more

16/07/2025

in Lessors & Asset managers , Aviation Banks and Lenders

Q2 Bank survey: Can margins get much lower?

Risk-adjusted margins on new aircraft loans and warehouse facilities have tightened further in the last three months, according to Ishka research, as lenders state the limited number of new aircraft deliveries is creating intense competition. more

10/07/2025

in Other , Aviation Banks and Lenders

Loan Datasheet: AviLease secures $1.5bn facility, AA tops up loyalty programme financing, Avolon taps banks for $1.1bn RCF

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

23/06/2025

in Aviation Banks and Lenders

Why European regulations are pushing aviation banks towards riskier deals

A group of French Aviation banks are in talks, through various channels, with the European Banking Authority (EBA) to delay or potentially modify part of the incoming Basel 3.1 banking regulations over concerns they are pushing banks to chase riskier deals, and could potentially deter some institutions away from the sector. more

16/05/2025

in Airline trends & analysis , Aviation Banks and Lenders

Ishka announces 2024 Deal of the Year Award Winners

Ishka has announced the full list of winners for its deal of the year awards. The awards will be celebrated across three upcoming Ishka conferences in Dublin, New York and Singapore. more

09/05/2025

in Capital Markets , Aviation Banks and Lenders

AviLease and Avolon close new facilities

Saudi lessor AviLease has closed a $1.5 billion three-year unsecured revolving credit facility, while Avolon has announced the completion of a five-year $1.1 billion senior unsecured facility. more

30/04/2025

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

Spotlight: US Treasury bonds, Q1 bank and alt lenders pricing

US Treasury bond yields have seen a large amount of volatility in recent weeks. more

28/04/2025

in Capital Markets , Aviation Banks and Lenders

Loan Datasheet: Vietnamese airlines secure over $850 million in finance

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

22/04/2025

in Aviation Banks and Lenders

Alt lenders margins continue to tighten in Q1, HCOB exits aviation finance

Financiers confirm that risk-adjusted margins for alt lenders have continued to fall in the first quarter of 2025. In other news, Germany’s Hamburg Commercial Bank (HCOB) is exiting aviation finance, less than 18 months after launching the business, following an internal strategic review. more

15/04/2025

in Aviation Banks and Lenders