MIAMI – Fort Lauderdale-based Azorra Aviation has entered an agreement with investment firm Oaktree Capital that will inject US$350m into its aircraft leasing business.
As stated in a company press release, Azorra, a full-service aircraft leasing company, “intends to use the proceeds from the investment to accelerate its growth and solidify its position as the leading lessor in its segment, with a core focus on regional, small narrowbody and new technology crossover aircraft.”
UBS Investment Bank was the placement agent for the transaction. CEOs from both companies lauded the investment and the outcomes.
Innovation to Fleet Rationalization
“We are thrilled to align with Oaktree as we shape Azorra’s platform to meet the unique needs of airlines during an extraordinary time in commercial aviation,” Azorra’s CEO John Evans said.
He added that “together with Oaktree, we are positioned to bring innovative fleet rationalization, transition and financing solutions on existing fleets and new aircraft for airline customers and OEMs.”
Oaktree managing director David Brown expressed the company’s support on Azorra’s expansion.
“Azorra is a proven leader in commercial aircraft leasing with the platform, expertise and capabilities needed to deliver comprehensive fleet solutions for airlines and OEMs. We believe Azorra is uniquely positioned to expand its market share, and we look forward to supporting its next phase of growth,” Brown said.
Featured image: Azorra Aviation