TY - JOUR T1 - Collateral Pools Shift as Aircraft ABS Accelerates JF - The Journal of Structured Finance SP - 20 LP - 26 DO - 10.3905/jsf.2016.21.4.020 VL - 21 IS - 4 AU - Peter Manofsky AU - John Bella, Jr Y1 - 2016/01/31 UR - https://pm-research.com/content/21/4/20.abstract N2 - Aircraft asset-backed security (ABS) issuance has picked up in the past two years after coming to a halt following the 2007–2008 recession, and strong issuance is expected to continue into 2016. Stable performance and ratings are expected for outstanding transactions, supported by solid passenger-demand expectations. In this article, however, the author notes some softness in values and lease rates, particularly with regard to certain small-variant wide-body aircraft.The recent increase in ABS issuance has also introduced the market to collateral pools that represent a shift from what has typically been seen in the space. Notably, a few transactions have been completed that feature mid- to end-of-life aircraft and increased concentrations in regional jets and turboprop aircraft. Meanwhile, the author’s outlook for aircraft lessors is stable to positive because they are supported by strong industry fundamentals.TOPICS: Asset-backed securities (ABS), legal/regulatory/public policy ER -