Special focus on China’s ‘Big Three’, AirAsia suffers revenue hit while Pegasus’ capacity eclipses 2019 figures
This report is an excerpt from Ishka’s Airline Credit Profiles (ACP) subscription-based service. It delivers ‘The Ishka View’ on the near-term performance of airlines under today’s extraordinary market circumstances. more
20/09/2021
Avianca's share price plummets, PAL receives court approval
Avianca Holdings has received Bankruptcy Court approval to send its proposed plan of reorganisation to creditors for a vote, according to a court filing on 14th September. more
17/09/2021
PE funds and new lessors help drive recent aircraft trading
Lessors state that a wave of capital from new and existing investors is driving down margins, particularly for sale/leasebacks, but has also helped resuscitate the trading of leased aircraft. more
16/09/2021
Stratos contemplates second ABS and discusses 100+ aircraft target
Monaco-headquartered asset manager Stratos is seeking to increase its 41-aircraft portfolio to 60 aircraft by the end of 2021, and potentially over 100 aircraft after 18 months via the addition of narrowbodies and a handful of widebodies. more
15/09/2021
AeroCentury, a short-squeeze standout, exits Ch. 11 with Chinese investors
California-based regional aircraft lessor AeroCentury had its proposed Chapter 11 plan approved. In the meantime, Ishka notes the lessor has been attracting unusual interest from amateur investors. more
14/09/2021
10-year-old aircraft values, pickup in B777 P2F conversions and Ryanair-Boeing MAX 10 talks break down
This is a regular series from 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
13/09/2021
An uneven playing field: The reduced level of state support for regional aircraft operators
Regional aircraft are half as likely to be operated by airlines benefitting from state support compared to larger aircraft, an analysis based on Ishka’s state aid tally shows. more
10/09/2021
Turboprop lessor Elix launches asset management service
Ishka speaks with Elix Aviation COO John Moore about the firm’s expansions plans, as well as values and lease rate trends for turboprops. more
09/09/2021
Asia-Pacific’s travel boom, special focus: Qantas and Air New Zealand falling revenues
This report is an excerpt from Ishka’s Airline Credit Profiles (ACP) subscription-based service. It delivers ‘The Ishka View’ on the near-term performance of airlines under today’s extraordinary market circumstances. more
07/09/2021
Remarketing Watch: Small positive steps as stored aircraft fall by 11%
More aircraft are continuing to come out of storage as airlines react to a slow return in passenger demand, according to Ishka research. more
03/09/2021
Castlelake explores possible CLO as it expands financing book
US lessor Castlelake is exploring a potential collaterised loan obligation (CLO) based on aircraft loans which could make it the first entity to create a publicly-traded CLO for the asset class, as it expands its aircraft financing division. more
02/09/2021
Investors face a four-year wait for key freighter conversion slots
Freighter conversion slots are in such high demand that some investors could face up to a four-year wait for a conversion slot for some of the most popular conversion programmes for troubled assets such as the A330. more
02/09/2021
airBaltic secures $106 million aid while Pegasus, TAP and El Al request more support
This is the 47th updated summary of airline state aid during the Covid-19 crisis. Ishka estimates that as of 31st August 2021 governments have introduced $195.89 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. more
31/08/2021
15-year-old aircraft values, Delta orders 30 more A321neos, Embraer’s new turboprop
This is a regular series from 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
30/08/2021
Banks mull NAC aircraft repossessions, airlines continue fleet restructurings
Several banks with secured debt to Nordic Aviation Capital are rumoured to be considering whether to repossess aircraft from the troubled regional aircraft lessor. more
26/08/2021
in Lessors and Lease Rates , Airline Profiles , Aircraft Finance Market
Remarketing Watch data sheets: More aircraft are coming out of storage
This is a new series of reports. Download data sheets with an overview of aircraft currently available on three of the most active aircraft remarketing sites. more
25/08/2021
Airline state aid data sheets: State support vs pre-pandemic revenues
This is a new series of reports. Download data sheets with an overview of airline state aid since March 2020 including a ranking of the most generous packages based on pre-pandemic revenues. more
24/08/2021
Latin American and Asian carriers struggle as Europe leads world recovery
This report is an excerpt from Ishka’s Airline Credit Profiles (ACP) subscription-based service. It delivers ‘The Ishka View’ on the near-term performance of airlines under today’s extraordinary market circumstances. more
23/08/2021
Remarketing Watch: Lessors impose interest rates on lease extensions and PBH deals
Airlines are continuing to extend power-by-the-hour (PBH) terms or lease deferrals as they wait for a recovery in passenger traffic, which many carriers hope will occur by summer 2022. more
20/08/2021
Asset managers staff up, lessors sign mid-life aircraft deals
This is the second edition of Ishka’s aircraft asset managers report, which tracks recent updates, market moves, and fleet changes of aircraft asset managers in the industry. more
20/08/2021
Unsecured debt data sheets: Quarter-to-date lessor and airline bond issuances
This is a new series of reports. Download data sheets with summaries of Q3 2021 issuances to date by aircraft lessors and airlines. more
19/08/2021
5-year-old aircraft values, CALC sells A320s to Puyin Leasing, GOL agrees MAX funding
This is a regular series from 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
18/08/2021
Lessor CEOs: Airline rent deferral requests slow-down, 'no business case yet' for eVTOL aircraft
Ishka reviews some of the key market concerns raised by AerCap, Aircastle, Air Lease Corporation (ALC) and ALAFCO in their Q2 2021 earnings calls, including deferral requests, OEM delays, aviation’s environmental impact and the future market outlook. more
16/08/2021
LATAM restructures orderbook, HNA Group’s plan deadline extended
LATAM Airlines announced on 10th August that it has reached agreements with Boeing and Airbus regarding its future fleet commitments. more
13/08/2021
SpiceJet and Go First get first Indian aid as Thai airlines urge support
This is the 46th updated summary of airline state aid during the Covid-19 crisis. Ishka estimates that as of 12th August 2021 governments have introduced $195.32 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. more
12/08/2021
US LCCs see results bolstered by PSP as Chinese capacity continues to fall
US LCCs have posted a strong quarter of earnings, reaping the rewards of a strong vaccination campaign and US Treasury support. more
11/08/2021
ALC Q2 2021: Lessor to 'scale back' aircraft sales due to OEM delays
Air Lease Corporation will be cutting back on aircraft sales for the remainder of 2021, and possibly into 2022, as OEM delays get in the way of its portfolio growth objectives. more
09/08/2021
Prices climb for 2013 vintage 737-800NGs vs A320ceos
Limited availability for 2013 vintage B737-800NGs has seen purchase prices and lease rates for the aircraft type overtake 2013 vintage A320ceos, according to Ishka’s latest pricing benchmark. more
06/08/2021
Second and third-tier carriers eye sale/leasebacks for smaller jets
Ishka provides an update on the sale/leaseback market. more
05/08/2021
A year after Ch. 11, Latin America’s big three see modest 10% fleet cut – for now
When accounting for recently announced aircraft sales, remarketed aircraft, or sale mandates, the current combined fleet stands around 540 aircraft (-10%) – a relatively humble change for Latin America’s 'big three'. more
04/08/2021
AerCap sees 9.6% hike in Q2 net income as GECAS merger gets EU approval
AerCap has recorded a steady rise in revenues and net income this quarter, as European regulators approved a planned merger with rival lessor GECAS set to close in Q4. more
03/08/2021
10-year-old aircraft values, Boeing’s first profit in two years and Sukhoi receives order boost
This is a regular series from 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
02/08/2021
Avianca secures $1.6bn financing, LATAM continues fleet restructuring
Avianca Holdings has secured a $1.6 billion financing package from both new and existing lenders. The airline filed a motion on 22nd July with the Bankruptcy Court seeking approval of an amendment to its existing debtor-in-possession (DIP) documents. more
30/07/2021
Condor, Air Nostrum get new aid as EU affirms approval for sued packages
This is the 45th updated summary of airline state aid during the Covid-19 crisis. Ishka estimates that as of 29th July 2021 governments have introduced $195.30 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. more
29/07/2021
Castlelake prices mid-life aircraft ABS refi
US fund manager and leasing firm Castlelake priced a $450 million aircraft ABS refinancing last week: Castlelake Aircraft Structured Trust 2017-1R (CLAS 2017-1R). more
27/07/2021
USA & Mexico's domestic resurgence, easyJet passenger numbers up, Jet2 revenues drop 89%
This report is an excerpt from Ishka’s Airline Credit Profiles (ACP) subscription-based service. It delivers ‘The Ishka View’ on the near-term performance of airlines under today’s extraordinary market circumstances. more
26/07/2021
Remarketing Watch: Airlines negotiating six months minimum of PBH
New leases and lease amendments for passenger aircraft are featuring a minimum of six to nine months of power-by-the-hour (PBH) pricing, third-party aircraft remarketers tell Ishka. more
23/07/2021
A320neo prices stable while 737 MAX 8 values climb slightly
The Ishka Aircraft Pricing Benchmark aims at collecting (anonymously) the market’s view every two months. more
21/07/2021
Airlines react to EU’s new ambitious green deal measures
Fit for 55 is the world’s most ambitious legislation proposal to reduce aviation emissions and could permeate aircraft fleet choices for years to come. Ishka examines its main proposals and industry reaction. more
20/07/2021
15-year-old aircraft values, more lessor activity and reduced 787 production rates
This is a regular series from 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
19/07/2021
TAP aid in EU sights as new Alitalia gets go-ahead
This is the 44th updated summary of airline state aid during the Covid-19 crisis. Ishka estimates that as of 1st July 2021 governments have introduced $195.28 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. more
16/07/2021
Avianca moves JOLCO leases to PBH, Malaysia puts six A380s for sale
Avianca Holdings filed a court request on 6th July to reject leases for two JOLCO-financed A320s (MSN 7928 and 7887) and enter new leases for the aircraft on "better economic terms." more
15/07/2021
Trading update: Bocomm reviews off-shore portfolio bids, Castlelake sells Delta 737s
Lessors and aircraft investors are waiting to hear if they have been successfully mandated, or shortlisted, on several portfolios of leased aircraft for sale. more
14/07/2021
Ishka’s guide to popular freighter conversion programmes
The freighter conversion market has seen a huge uptick in demand due to the Covid pandemic. Passenger airlines have been forced to downsize fleets, increasing passenger aircraft availability, and affordability, for freighter conversion. more
12/07/2021
Trading update: Avolon signs LOIs for 12 aircraft, GECAS returns with revised portfolio
Lessors state that there has been a resurgence in the secondary aircraft trading market in the last three months as more leasing platforms and asset managers bid to buy leased aircraft. more
09/07/2021
Indian airlines seek to raise additional debt as revenues plummet by nearly 60%
This report is an excerpt from Ishka’s Airline Credit Profiles (ACP) subscription-based service. It delivers ‘The Ishka View’ on the near-term performance of airlines under today’s extraordinary market circumstances. more
09/07/2021
Sale/leaseback market heats up as more Asian lessors chase deals
Ishka reviews the last 18-months of pandemic sale/leasebacks. more
08/07/2021
Lessor bonds: $7bn in Q2 as Chinese issuances increase
Aircraft lessors tracked by Ishka issued nearly $7 billion in capital markets debt during the second quarter, a 24% decline from an exceptionally busy first quarter. more
07/07/2021
Airline bonds Q2 2021: Wider group of airlines access unsecured market
A benign capital market has attracted a wider universe of unsecured airline issuers in the last three months, according to Ishka research. Airlines around the world issued $19.94 billion in unsecured debt. more
05/07/2021
Five-year-old aircraft values, A340 reactivation and United’s mass order
This is a regular series from 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
02/07/2021
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