Ishka examines the typical incentive or penalty in aviation sustainable finance transactions, favoured aircraft types, and most active banks. more
12/09/2023
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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Risk-adjusted margins rise for new secured aircraft loans as banks pass on rising funding costs to lessors and airlines. more
09/09/2022
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
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
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
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
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
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
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
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
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
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
Ishka understands that three airlines have successfully agreed short sale/leasebacks (SLBs) with a lease length of eight years for new deliveries of new-tech narrowbodies and a turboprop compared to the typical lease term of ten-to-12 years. more
31/05/2022
in Lessors and Lease Rates , Aircraft Finance Market
Investors face increased costs and longer waiting times for passenger to freighter (P2F) conversions due to the global supply chain crisis with material prices soaring as much as 10% in some cases, sources tell Ishka. more
27/05/2022
in Aircraft Asset Profiles , Aircraft Finance Market
Lessors have recognised $5.62 billion in impairments related to leased aircraft, and some engines, that remain in Russia, according to Ishka research based on figures from eight lessors and one asset manager. more
25/05/2022
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
This is the 75th 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
23/05/2022
Aircraft lessors are concerned that insurers and reinsurers may decline to offer contingency coverage for countries deemed politically risky, including China, following billions of dollars in lodged claims by lessors for aircraft trapped in Russia. more
20/05/2022
in Lessors and Lease Rates , Aircraft Finance Market
AerCap swung to a net loss of $2 billion in the first quarter after registering $2.7 billion in costs relating to the Ukraine Conflict, dampening an otherwise strong quarter propelled by a “positive demand environment.” more
19/05/2022
This is the 55th updated summary of airline state aid during the Covid-19 crisis. Ishka estimates that as of 18th May 2022 governments have introduced $209.89 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. more
18/05/2022
Aircraft lessor SMBC Aviation Capital announced it plans to acquire Dublin-based rival Goshawk Aviation which, if regulatory approval is obtained, will make it the second-largest aircraft lessor by number of aircraft. more
17/05/2022
Ishka Insights subscribers can now download past data sheets and associated datasets from one convenient place: the Insights Data Library. more
13/05/2022
Air Lease Corporation (ALC) reported a $469 million loss for the quarter after it wrote off $802 million in relation to its owned and managed fleet located in Russia. more
10/05/2022
This is the 74th 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
09/05/2022
The second edition of the Ishka View Extra: ESG and Sustainable Aviation examines developments during March, April, and early May. more
05/05/2022
Net aircraft orders for the two largest OEMs have begun to recover for the first time since the onset of the pandemic as passenger demand improves and travel restrictions ease. more
04/05/2022
Lessors and asset managers have gone from zero to over 1,225 e-VTOL commitments in under 12 months, marking the incursion of aircraft leasing into a new domain - but their decarbonisation role may be limited. more
29/04/2022
Lessors are bracing themselves for legal battle over insurance claims for aircraft trapped in Russia, with some having already submitted claims, explain several sources to Ishka. more
28/04/2022
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