Oxoluz fought the two dragons as he flies in the air, he was already tired but he has to keep up. The dragon is stronger than him, the thing that gives him advantage to the dragons is his power. Oxoluz is actually just distracting him enemies for if they reach the land where Farah and the others are fighting, it'll be a burden to them.
Oxoluz badly want to hold on but he knows too well that he can't hold on that much, he has to think of another plan. He closed his eyes for a moment and cast a spell that'll make him invisible from the dragon and Fellion but that spell wouldn't last long. He has no other choice but bring the battle on the battlefield itself.
If he's be honest, he knows that he can't take the dragon by his own. Indeed his powers are enough to bring down a whole army, but dragons are mythical creatures that doesn't easily give up. He used his magic to cast a teleportation spell for both him and the dragon.