Azorra has signed a purchase agreement for 49 Embraer E-Jet aircraft and two General Electric CF-34 engines from Dubai Aerospace Enterprise (DAE). The aircraft are leased to 12 different customers worldwide.
This continues the company's growth strategy through mergers, acquisitions, and opportunistic portfolio purchases. The agreement follows the successful acquisition of Voyager Aviation Holdings in 2023 and the prior acquisitions of 48 aircraft formerly owned by Nordic Aviation Capital (NAC) in two separate transactions.
“These reliable and proven aircraft complement our commitment to new technology crossover jets, reflecting our confidence in the growing demand within this segment,” said Azorra CEO John Evans. “We're also pleased to begin a new partnership with DAE, a respected global leader in commercial aircraft leasing.”
The deal is expected to be completed by late this year.
In addition, DAE said it had signed another agreement with a financial investor to sell around 25 out-of-production aircraft. Upon completion, these transactions will reduce the weighted average age and increase the weighted average remaining lease term of DAE’s passenger fleet of aircraft.
As of March 31, 2025, the average age of the DAE’s owned fleet was 7.1 years for passenger aircraft, with the average remaining lease term for passenger jets equalling 6.6 years. This transaction is also expected to close before the end of 2025
Gibson Dunn is serving as legal advisor to Azorra, PJT Partners as financial advisor and KPMG as tax advisor.