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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

in Lessors and Lease Rates , Aircraft Finance Market

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

in Lessors and Lease Rates , Aircraft Finance Market

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

in Investor Education , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Lessors and Lease Rates , Aircraft Finance Market

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

in Aircraft Asset Profiles , Aircraft Finance Market

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

in Lessors and Lease Rates , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Lessors and Lease Rates , Aircraft Finance Market

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

in Lessors and Lease Rates , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

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

in Airline Profiles , Aircraft Finance Market

Singapore Airlines gets $2.54 billion from sovereign fund, US carriers face public backlash

Ishka estimates that as of 1st July 2021 governments have introduced $196.90 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. more

01/07/2021

in Airline Profiles , Aircraft Finance Market

New-build A320 and MAX values show first signs of recovery

Young, new technology narrowbody aircraft have seen slight improvements in market value sentiment since the first quarter of the year. more

30/06/2021

in Aircraft Asset Profiles , Lessors and Lease Rates , Aircraft Finance Market

New aircraft ABS deals achieve record pricing as market ‘bounces back’

Four aircraft ABS deals, including one engine deal, have priced in the last four weeks, with deals achieving either record-low or comparable yields to pre-pandemic issuances, despite the stress facing the airline sector due to the Covid-19 crisis. more

28/06/2021

in Lessors and Lease Rates , Aircraft Finance Market

SMBC sues Garuda for $35.9 million, Thai Airways receives restructuring approval

SMBC Aviation Capital is claiming $35.9 million in unpaid aircraft rentals and unrestored deposits excluding interest as well as $9.4 million in guarantee payments in a lawsuit against Garuda Indonesia filed at the London Commercial Court. more

25/06/2021

in Airline Profiles , Aircraft Finance Market

Ishka’s guide to US PSP and why a PSP4 remains unlikely

Ishka examines US Treasury data on Payroll Support Programme (PSP) and CARES Act Loans to US airlines. A complete dataset is available for download. more

24/06/2021

in Airline Profiles , Aircraft Finance Market

Garuda seeks to return 101 aircraft to lessors as it mulls debt restructuring options

Garuda’s CEO Irfan Setiaputra has told a parliamentary hearing the airline is contemplating a debt freeze and even the possibility of creating a new airline. more

23/06/2021

in Airline Profiles , Aircraft Finance Market

10-year-old aircraft values, Thrust 2021-1 ABS prices, OEMs explore new technologies

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

22/06/2021

in Lessors and Lease Rates , Airline Profiles , Aircraft Finance Market

Ishka Dublin Festival: End of the crisis ‘in sight’ but airlines to suffer losses till 2023

Commercial air travel is forecasted to recover to 88% of 2019 levels by 2022 and 109% by 2023, according to Brian Pearce, chief economist for aviation trade body IATA. Pearce, speaking at the Ishka+ Dublin virtual Festival said “the end of the crisis is in sight” but warned many airlines are still at risk of significant cash burn for the rest of 2021. more

21/06/2021

in Lessors and Lease Rates , Aircraft Finance Market

Remarketing Watch: Airlines say ‘PBH conversation or no conversation’ for new leases

Despite improvements in short-haul leisure travel demand in the last four months, many airlines are negotiating power-by-the-hour (PBH) terms for both new and existing leases, according to panellists speaking at Ishka’s Dublin festival. more

18/06/2021

in Lessors and Lease Rates , Aircraft Finance Market

Emirates gets new $1.1 billion injection, Ryanair scores third court win

Ishka estimates that as of 17th June 2021 governments have introduced $193.77 billion in assistance measures for air carriers globally, including sectoral package and airline-specific bailouts. more

17/06/2021

in Airline Profiles , Aircraft Finance Market

ALC markets Blackbird Capital II aircraft ABS

Air Lease Corporation (ALC) is in the market with a $745 million aircraft ABS – Blackbird Capital II. more

16/06/2021

in Aircraft Finance Market

White Oak’s Thrust 2021-1 tests ABS market appetite for widebody engines

White Oak Commercial Aviation has been in the market for several weeks with a $485 million aircraft engine securitisation, Thrust 2021-1, with a unique collateral of 100% widebody engines. more

15/06/2021

in Capital Markets , Aircraft Finance Market

Asian airlines get restructuring go-ahead amidst fresh lockdowns

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

11/06/2021

in Airline Profiles , Aircraft Finance Market

Clock is ticking for NAC, Avianca agrees A320 LOIs with GECAS

Nordic Aviation Capital’s (NAC) moratorium on debt payment ends at the end of next month, as the lessor edges closer to potentially entering a restructuring. more

11/06/2021

in Airline Profiles , Aircraft Finance Market

Will the new EU Taxonomy for green aviation address lessors’ concerns?

The draft of a much-awaited framework by the European Commission on sustainable investment for aviation is set to be shared in the next few months. The framework will be critical for informing 'green' aircraft investments. more

10/06/2021

in Regulatory and Accounting , Investor Education , Aircraft Finance Market

Older aircraft close in on values “floor,” but younger jet prices could fall further

After suffering a period of value realignment since the onset of the pandemic several 20-year-old aircraft types now appear to be reaching a value “floor” where further discounts are unlikely. more

09/06/2021

in Aircraft Asset Profiles , Lessors and Lease Rates , Aircraft Finance Market

Are used A330s winning the hearts (and wallets) of airline startups?

A330 investors are fighting back. Last month, 15 firms launched a joint PR campaign to “raise awareness of the unique abilities" of the type in the hope of winning over existing and potential new operators. more

08/06/2021

in Aircraft Asset Profiles , Aircraft Finance Market

15-year-old aircraft values, OEMs ramp up production and United's supersonic aircraft 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

04/06/2021

in Lessors and Lease Rates , Airline Profiles , Aircraft Finance Market

SAS gets government credit, Germany considers keeping 20% stake in Lufthansa

State support for airlines appears to have plateaued in recent weeks, with relatively few new packages announced since the end of March. more

03/06/2021

in Airline Profiles , Aircraft Finance Market

A350 prices firm but older A330 values continue to drop

The Ishka Aircraft Pricing Benchmark aims at collecting (anonymously) the market’s view every two months. Ishka asks market makers, including buyers, sellers and financiers (including lessors, airlines, investors, aviation banks, asset managers, part-out companies, and advisors) their views on the market’s pricing and lease rates. more

02/06/2021

in Lessors and Lease Rates , Aircraft Finance Market

China’s ‘Big Three’ report large net losses despite rise in passenger traffic

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

31/05/2021

in Airline Profiles , Aircraft Finance Market

Restructured Norwegian boasts lean balance sheet, Hainan lawsuit discontinued

Norwegian Air Shuttle announced on 26th May it has exited the Irish examinership process that the airline entered on 18th November 2020. more

28/05/2021

in Airline Profiles , Aircraft Finance Market

Boeing 737 MAX inventory lightens amid spring clearance orders

Airlines and lessors have committed (or recommitted) to buying 258 737 MAX aircraft so far in 2021 possibly including, as Ishka understands, some remarketed white-tail from Boeing’s inventory of 400+ undelivered MAXs. more

27/05/2021

in Aircraft Asset Profiles , Aircraft Finance Market

Erste Bank exits aviation, alt lenders look to fill financing vacuum

Austrian headquartered Erste Group Bank (Erste Bank) has confirmed to Ishka that it is no longer offering aviation financing deals, signalling an exit from the sector. more

26/05/2021

in Aircraft Finance Market

Investor survey: Investors share return targets for new aircraft deals

Nearly 70% of investors questioned by Ishka plan to increase their capital allocation to aviation as an asset class over the next 12 months despite the disruption caused by the covid-19 crisis to the sector. more

25/05/2021

in Aircraft Finance Market

Five-year-old aircraft values, cargo appetite and SLB pressures

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

24/05/2021

in Lessors and Lease Rates , Airline Profiles , Aircraft Finance Market

Remarketing Watch: Lessors confide in a “dark pool” of available aircraft

Third-party aircraft remarketers note an increasing optimism among lessors hoping to place aircraft by April 2022, in time for a return in demand in summer 2022 but also noted the widespread use of power-by-the-hour lease arrangements for many aircraft types. more

21/05/2021

in Lessors and Lease Rates , Aircraft Finance Market

European airlines: Cargo revenues increase but passenger level woes continue

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

21/05/2021

in Airline Profiles , Aircraft Finance Market

Ryanair gets first court wins against state aid, tally grows by $280 million

Ishka estimates that as of 20th May 2021 governments have introduced $192.27 billion in assistance measures for air carriers globally. more

20/05/2021

in Airline Profiles , Aircraft Finance Market

SLB lease rate factors fall to 0.6 (and below) as airlines short-list lessors

Ishka reviews the lease rate factors and pricing for current lessor bids on a number of new Boeing 737 MAX and Airbus A320neo sale/leaseback RFPs for several airlines, including Turkish Airlines, Wizz Air, Flydubai, and Spirit. more

19/05/2021

in Lessors and Lease Rates , Aircraft Finance Market

Briefing: 777-300ER investors ponder tough re-marketing and part-out options

Investors are testing a number of options for used Boeing 777-300ERs as remarketers warn that demand for the large passenger aircraft remains “extremely low” to “non-existent”. more

18/05/2021

in Aircraft Asset Profiles , Aircraft Finance Market

Lessor CEOs: Rent deferrals down but widebody market remains “challenged”

Ishka reviews some of the key market concerns raised by AerCap, Aircastle and Air Lease Corporation (ALC) in their Q1 2021 earnings calls, including widebody market fortunes, airline restructurings, lessee rent deferrals, the sale/leaseback (SLB) market, and the AerCap-GECAS merger. more

17/05/2021

in Lessors and Lease Rates , Aircraft Finance Market

Fly Leasing Q1 2021: Fly impairments prompt a Q1 loss

Fly Leasing reported a net loss of $3.4 million in Q1 2021 due in part to $22.55 million in aircraft impairments. more

14/05/2021

in Lessors and Lease Rates , Aircraft Finance Market

SAA and Sundair exit bankruptcy, Interjet and PAL slide closer

South African Airways is the latest airline to exit bankruptcy as it announces it has exited business rescue proceedings after 17 months. more

13/05/2021

in Airline Profiles , Aircraft Finance Market

ALC Q1 2021: Airline restructurings bring ALC profits to six-year low

Air Lease Corporation (ALC) reported a net income of $84 million in Q1 2021, 24% down from the previous quarter and a six-year low, as revenues were hit by the doubling of its cash-basis fleet. more

12/05/2021

in Lessors and Lease Rates , Aircraft Finance Market

Why mid-teen returns are 'unrealistic' for new aircraft equity investors

Ishka presents some key takeaways from the Ishka+ original session: Forecasting with a murky crystal ball. Find out why AerCap & GECAS was probably a one-off, when the industry expects more aircraft impairments, and why there are likely to be more ad-hoc aircraft auctions… All the content is still available on-demand. more

11/05/2021

in Modelling and Forecasting , Aircraft Finance Market

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