Castlelake out with first post-Covid aviation ABS deal

The aviation asset backed securitisation (ABS) market has been effectively closed for the past 10 months as investors and leasing companies grappled with the impact of the coronavirus pandemic on the aviation industry. However, after months of successful capital raising by airlines and larger lessors in the capital markets, Castlelake deemed it the right time to test the market’s appetite for aviation ABS paper. The company issued Castlelake Aviation Structured Trust 2021-1 on 19 January, comprised of two tranches of debt and a number of structural enhances to take into account the crisis-hit market. The deal is split into a