Ishka Insights: indispensable analysis and opinion

Trusted, expert assessment of the latest industry trends from the respected Ishka team, including regional analysis, airlines, lessors and critical emerging issues.

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1H 2017 review: Pratt delays expected to impact listed lessors

Ishka examines how delays to Pratt & Whitney’s new geared turbofan (GTF) engine could impact the listed lessors. more

19/09/2017

in Lessors and Lease Rates , Ishka insights

Kenya Airways seeks 5-year waiver on $1.9 billion Afrexim loan

Ishka examines Kenya Airways’ breach of terms on its $1.9 billion syndicated loan arranged by the African Export-Import Bank to fund 20 aircraft and its effort to obtain a payment holiday and lease reductions. more

18/09/2017

in Airline Profiles , Ishka insights

“Not an EXIM replacement”- Bob Morin explains AFIC

Bob Morin, AFIC’s Transaction and Business Development leader, explains how AFIC differs from ECAs and how it could help airlines and aviation financiers. more

15/09/2017

in Ishka insights , Aircraft Finance Market

Update: Alitalia will not restructure leases until after sale

An update to our previous Insight. Alitalia will not restructure any leases until it knows who the new owner will be. more

14/09/2017

in Airline Profiles , Ishka insights , Aircraft Finance Market

Airbus’ continuing export credit paralysis

Airbus’ airline customers have not been able to access export credit agency cover for more than a year while the OEM continues to be investigated over its historic use of middle men. more

11/09/2017

in Ishka insights , Aircraft Finance Market

Q2 lessor review: FLY continues its hunt for assets

FLY Leasing appears to be a frustrated buyer as its Q2 2017 net income drops from a year ago while the firm seeks to acquire the right assets. more

08/09/2017

in Lessors and Lease Rates , Ishka insights

Lessors adopt ‘wait and see’ approach to Alitalia

Lessors who have aircraft placed with Alitalia, the Italian flag-carrier currently in administration, are waiting to see what will happen to the airline before making any commercial decisions. more

06/09/2017

in Airline Profiles , Ishka insights , Aircraft Finance Market

Q2 lessor review: Impairments bedevil Aircastle

In a review of Aircastle’s Q2 2017 results, Ishka’s considers impairments stated in the quarter and the lessor’s stated strategic reliance on opportunistic transactions for future growth. more

05/09/2017

in Lessors and Lease Rates , Ishka insights

Airlines charge lessors more for novations

As the world’s fleet increases, airlines are forced to spend time doing novations as lessors trade their aircraft. Ishka examines some of the challenges lessors and airlines face with novations. more

04/09/2017

in Lessor finances , Ishka insights , Regulatory and Accounting , Technical Expertise

Update: the scramble for airberlin’s assets

Ishka reviews the fallout from airberlin’s insolvency as competitor airlines bid for assets. more

31/08/2017

in Airline Profiles , Ishka insights , Aircraft Finance Market

Q2 lessor review: ALC comments on newcomers

Ishka analyses Air Lease Corporation Q2 2017 performance and concerted effort to address market concerns over leasing newcomers. more

30/08/2017

in Lessors and Lease Rates , Ishka insights

Is Norwegian’s low-cost long-haul model sustainable?

Ishka compares Norwegian Air Shuttle with a regional rival low-cost carrier, Wizz Air, to understand just how expensive Norwegian’s long-haul ambitions are proving to be. more

29/08/2017

in Airline Profiles , Ishka insights

Investors up equity portions in new JOLCOs

Japanese Operating Leases with Call Options, or JOLCOs, are seeing increased demand from investors and airlines. more

25/08/2017

in Ishka insights , Aircraft Finance Market

Could aviation finance adopt blockchain?

Ishka examines whether OEMs could be tempted to use blockchain for the transfer of aircraft titles. more

23/08/2017

in Ishka insights , Aircraft Finance Market

Will Brexit force the UK to drop out of the European open skies deal?

In a special guest insight piece, RDC Aviation Economics’ Tim Coombs, looks at the impact of Brexit on airlines and airports. more

21/08/2017

in Airline Profiles , Regulatory and Accounting

H1 2017 traffic growth and load factors up but Middle East sees decline

As part of its regular series on air passenger traffic, Ishka studies the evolution of traffic and capacity during the first six months of 2017. more

18/08/2017

in Ishka insights , Regulatory and Accounting

Lessors ponder fall out from airberlin’s collapse

Ishka reviews how the German carrier’s recent insolvency could impact Airbus aircraft lease rates. more

17/08/2017

in Lessors and Lease Rates , Airline Profiles

Going below 0.6 lease rate factors

Lessors complain that as competition for aircraft sale/leasebacks heats up some new deals are breaking the 0.6 lease rate factor barrier. more

15/08/2017

in Lessors and Lease Rates , Ishka insights

Aviation debt funds to surge in 2017

Three or four new aviation debt funds are expected to be established by the end of the year. more

14/08/2017

in Ishka insights , Premium , Aircraft Finance Market

Lessors grapple with diminishing A330 CEO demand

Ishka examines the prospects of the versatile twin-aisle aircraft popular with lessors. more

11/08/2017

in Aircraft Asset Profiles , Ishka insights

Q2 lessor review: AerCap’s trading wins

AerCap’s second quarter results get a boost from a large disposal while the lessor’s orderbook gets a boost from a surprising, and sizeable, widebody order. more

09/08/2017

in Aircraft Finance Market

Market review: Lessors warm to Russia but financiers remain skittish

An uptick in RPKs by Russian airlines has coincided with more interest from lessors seeking to place aircraft in Russia but aviation banks are still wary of funding deals into the country. more

08/08/2017

in Ishka insights , Aircraft Finance Market

What went wrong with Etihad’s equity alliance strategy?

Etihad made a net loss of $1.87 billion in 2016, due partly to losses stemming from its stake in other airlines. Ishka examines Etihad’s equity alliance strategy to understand the flaws in the Gulf carrier’s strategy. more

07/08/2017

in Airline Profiles , Ishka insights

Are investors put off by the complexities of aviation finance?

Despite a wave of new money entering the aviation space, could the industry attract more capital from institutional investors? more

03/08/2017

in Ishka insights , Aircraft Finance Market

Investor guide: Understanding aircraft depreciation

In a quick primer, Ishka presents an overview of one of the more complex debates currently taking place in aviation—economic life of aircraft, depreciation and residual value assumptions. more

02/08/2017

in Ishka insights , Investor Education , Modelling and Forecasting

Scope argues low fuel prices here to stay

Ishka examines a research piece from Scope Ratings arguing that oil prices are unlikely to exceed $60 a barrel in the short to medium term which will help to boost aviation credit quality. more

31/07/2017

in Ishka insights , Modelling and Forecasting

Lessors test 777-300ER’s secondary market appeal

The first potential ‘wave’ of used 777-300ERs are now coming off their initial 12-year leases. Ishka examines the remarketing challenge and prospects for the popular Boeing twin-aisle aircraft. more

28/07/2017

in Aircraft Asset Profiles , Ishka insights

Banks struggle to price Basel III changes

Aviation banks are still unclear how incoming capital requirements rules will impact loan pricing. more

26/07/2017

in Ishka insights , Aircraft Finance Market

Lessor warehouse deal margins continue to compress

Bankers state that margins appear to have compressed for lessor warehouse financings while borrowers demand looser terms. more

25/07/2017

in Ishka insights , Aircraft Finance Market

Could investors be hit by 5,000 excess aircraft?

Ishka examines what might happen to the world’s stored fleet in a downturn. more

24/07/2017

in Ishka insights , Modelling and Forecasting

Have margins bottomed out for aircraft financing?

Ishka asks whether margins have reached a natural floor for secured commercial bilateral aircraft deals. more

19/07/2017

in Ishka insights , Aircraft Finance Market

fastjet’s rough road to recovery

Ishka re-examines whether fastjet’s new strategy is enough to save the low-cost carrier. more

18/07/2017

in Airline Profiles , Ishka insights

Investor watch: Oaktree buys 18 leased aircraft

In this issue of Investor watch Ishka reviews the latest funds and institutional investor activity within commercial aviation. more

17/07/2017

in Ishka insights , Aircraft Finance Market

Engine-backed securitisations: a new old frontier?

Ishka examines the recent history of engine-backed securitisations. more

14/07/2017

in Ishka insights , Capital Markets

Is there an optimum leasing level for airline profitability?

A new study from the Toulouse Business School suggests that leasing 53.4% of a given fleet will maximise operating profit. more

12/07/2017

in Ishka insights , Aircraft Finance Market

Dublin 17 Aviation Finance Festival: Lessors react to Middle East risk

Ishka summarises some of the recent highlights from Ishka’s 2017 Dublin Aviation Finance Festival, held at the Clontarf castle in Dublin. more

11/07/2017

in Ishka insights , Aircraft Finance Market

Dublin 17 Aviation Finance Festival: winning a race to the bottom

Ishka summarises some of the recent highlights from Ishka’s 2017 Dublin Aviation Finance Festival, held in Clontarf castle in Dublin. more

10/07/2017

in Ishka insights , Aircraft Finance Market

Future financing forecast: Airbus and Boeing Asian carriers

In the fourth installment of a series of reports, Ishka provides an approximate guide to which carriers within Asia and Australasia are set to receive aircraft from both Boeing and Airbus over the next 18 months. more

04/07/2017

in Ishka insights , Modelling and Forecasting , Aircraft Finance Market

Repossession risk report: Nigeria and Turkey

Anecdotal evidence suggests that aircraft repossessions are on the rise. Ishka looks at two of the more difficult jurisdictions to retrieve an aircraft from: Nigeria and Turkey. more

03/07/2017

in Lessors and Lease Rates , Ishka insights , Regulatory and Accounting , Technical Expertise

Spreading its Wings: Wings Capital Partners expands to Dublin

Ishka speaks with Wings Capital Partners founder, Stephen Hannahs, as the US lessor welcomes a new equity partner and boost its asset portfolio. more

02/07/2017

in Lessors and Lease Rates , Ishka insights , Capital Markets

ALC’s bumpy start to the year

Ishka reviews ALC’s Q1 2017 figures. more

29/06/2017

in Lessors and Lease Rates , Ishka insights

European Airlines’ labour efficiency in two charts

Ishka’s analysis highlights the gulf in labour productivity between many of the major European carriers. more

28/06/2017

in Airline Profiles , Ishka insights

Interview: Boeing Capital chief on life without Ex-Im

Ishka speaks to Tim Myers, president of the Boeing Capital Corporation, about the business’ current portfolio, current financing trends and how it’s dealt with the absence of the US export credit agency, US Ex-Im. more

27/06/2017

in Ishka insights , Aircraft Finance Market

Future financing forecast: Airbus and Boeing EMEA carriers

In the third part of a series of reports Ishka provides an approximate guide to which carriers in Europe, the Middle East and Africa are set to receive aircraft from both Boeing and Airbus over the next 18 months. more

23/06/2017

in Ishka insights , Modelling and Forecasting

How will changes to Ireland’s double tax treaties impact new lessors?

Ishka reviews what changes to Ireland’s double tax treaties as part of the OECD BEPS regulations could mean for aircraft lessors. more

22/06/2017

in Ishka insights , Regulatory and Accounting , Aircraft Finance Market

Future deliveries update: Airbus and Boeing Americas

In the second of a series of reports Ishka provides a rough guide to planned aircraft deliveries for both Airbus and Boeing for North and Latin American carriers over the next 18 months. more

20/06/2017

in Ishka insights , Modelling and Forecasting

Future deliveries update: Bombardier and Embraer

As part of a new series of Insights Ishka provides a rough guide to the planned aircraft deliveries for both Bombardier and Embraer globally for the next 18 months. more

19/06/2017

in Ishka insights , Modelling and Forecasting

Alitalia – a test case for the modern ABS

Ishka studies the key features of the top three ABS exposed to Alitalia to understand their structural protections for investor protection. more

16/06/2017

in Aviation financings , Ishka insights , Capital Markets

AerCap Q1 review: Does size matter?

AerCap’s most recent Q1 2017 results saw a meaningful rise in net income as the lessor appears to be using its platform to successfully navigate changes in the aviation industry. more

15/06/2017

in Lessors and Lease Rates , Ishka insights

What’s next for Qatar Airways?

Qatar Airways, the Middle East’s fastest expanding carrier, is set to be the airline worst affected by the ongoing crisis in the Gulf. Ishka looks at how the airline could respond. more

14/06/2017

in Airline Profiles , Ishka insights

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