Elix Aviation merges with ADARE Aviation Capital to create Abelo

Dublin — 21 June 2022: Elix Aviation, the international regional aircraft leasing company, is to merge with ADARE Aviation Capital. Elix is owned by funds managed by Oaktree Capital Management, L.P. (“Oaktree”), which initiated the merger to enable further investment in the regional turboprop sector and to introduce an experienced new leadership team.

The merged companies will operate as Abelo, integrating Elix Aviation’s platform and turboprop portfolio with the management expertise of ADARE Aviation Capital.

“Elix Aviation has weathered the pandemic and is well placed to enter a new phase of growth. With the addition of ADARE Aviation Capital, we have formed a leadership team that has significant expertise and experience in regional aviation,” says Martin Graham, Managing Director at Oaktree . “We believe the synergy of the teams will enable Abelo to become a market leader, creating growth and value for its stakeholders. We look forward to supporting this exciting transition.”

Effective as of June 21“, Abelo’s executive team will be:

Stephen Gorman, Chief Executive Officer
Mathieu Duquesnoy, Chief Marketing Officer
Michael Hayden, Chief Operating Officer

Abelo’s new CEO, Stephen Gorman, says: “This merger comes at a unique time in
the aviation cycle, so we are thrilled to be able to align with Oaktree and join forces
with the team at Elix Aviation in the creation of Abelo. We remain committed to regional aviation and believe Abelo will be well placed to grow in the turboprop sector. There are a lot of changes expected in all areas of the business — especially in ESG — and we intend to be in the driving seat of progress. This is also an exciting time for the Elix Aviation employees joining us, as with the support of Oaktree, we plan to accelerate growth and become the go-to lessor of turboprop aircraft.”