Azorra Aviation Holdings LLC (“Azorra”) today announced that it has entered into an agreement with funds managed by Oaktree Capital Management, L.P. (“Oaktree”), under which Oaktree and Azorra’s founders will invest $350 million to expand Azorra’s commercial aircraft leasing business.

Led by a seasoned team of professionals that has worked together for well over a decade, Azorra 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.

“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,” said John Evans, Azorra’s CEO. “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.”

“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,” said David Brown, Managing Director at Oaktree. “We believe Azorra is uniquely positioned to expand its market share, and we look forward to supporting its next phase of growth.”

UBS Investment Bank acted as exclusive placement agent for Azorra.