World Star Aviation (“World Star”), a global leader in aircraft and engine ownership and servicing, today announced the launch of a new passenger to freight (“P2F”) conversion funding programme. This programme seeks to provide funding solutions to airlines and aircraft owners to enable them to take advantage of the growth and renewal in the global freighter fleet, primarily through the conversion of passenger aircraft into freighters, enabling these airlines and aircraft owners to execute on their business plans during a period of heightened cash and capital constraints in the aviation sector.

"The P2F funding programme is a natural extension of World Star’s longstanding investment strategy in aviation while supporting our valued aviation-related partners across the industry," said Garreth Slevin, a partner at World Star. "Over the past 35 years, the World Star team has worked with the main converters, converting well over 50 aircraft, from B737 classics to B747s. This programme represents an expansion to our existing product pallet and builds on our compelling, existing expertise."

Through the P2F conversion funding programme, World Star will seek to provide a variety of financing solutions to airlines and aircraft owners including through sale & leaseback financing as well as senior secured and high loan-to-value financing, secured by the converted aircraft. World Star's funding programme builds on its long-standing experience of investing in the aviation sector throughout multiple business cycles, including periods of distress and capital dislocation. World Star’s team comprises more than 30 dedicated professionals in key locations around the world, working closely with its airline partners across its fleet of aircraft and engines.

"Owners and purchasers of aviation assets are in need of flexible and tailored financing solutions in the current, challenging environment," said Marc Iarchy, a partner at World Star. "With significant underwriting and structuring expertise, we are demonstrably well-positioned to partner with airlines, investors and other aircraft owners to deliver these solutions in a way that aligns with our investment mandate."

The P2F funding programme is backed by funds managed by Oaktree Capital Management, L.P. (“Oaktree”). Oaktree is a leader among global investment managers specializing in alternative investments, with $140 billion in assets under management as of September 30, 2020. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,000 employees and offices in 19 cities worldwide. Oaktree has considerable experience in the aviation sector including existing investments with World Star across a variety of aircraft types. For additional information, please visit Oaktree’s website at

For further details please contact Garreth Slevin (, Marc Iarchy ( or Gladys Teo (