Breeze Airways just had its first profitable quarter
Airline startup Breeze Airways turned profitable in the fourth quarter of 2024, the airline said on Thursday, its first profitable quarter since it began operations in 2021.
It’s a major milestone for Breeze, the latest airline from serial entrepreneur David Neeleman, who previously founded JetBlue and Brazilian airline Azul, and ran TAP Portugal before it This airline was nationalized during the COVID-19 pandemic.
Breeze uses a point-to-point operating model for purposes operate direct flights between smaller markets There is no direct aerial connection. The airline started by operating short flights of less than two hours with a fleet of Embraer jets leased from Azul, before building a fleet of all-new Airbus A220 jets.
The early use of Embraer jets allowed Breeze to keep capital costs low when it began operations, although it now uses these jets primarily for charter service, prioritizing The A220 is more efficient on regularly scheduled routes.
Professional advice: The biggest mistakes people make with travel rewards credit cards
Because Breeze is a private company, it is not required to disclose as many detailed financial information as larger publicly traded airlines. In Thursday’s announcement, the airline said it made a profit in the quarter but did not provide details on actual gains, revenue or profits. Breeze previously said that Last March was the first profitable month of operations.
Daily newsletter
Gift your inbox with the TPG Daily newsletter
Join over 700,000 readers to get breaking news, in-depth guides and exclusive offers from TPG experts
Still, it was a turning point for the airline that began operations during the pandemic in a largely saturated domestic market. However, its focus on cleaner routes without the relentless competition has helped it continue to expand.
“In less than four years, we have managed to grow and expand Breeze at an unprecedented pace while establishing a strong presence in dozens of underserved markets,” Neeleman said in a statement. centers across the United States.” “Most importantly, we did it safely, providing millions of people with access to efficient, affordable and premium air travel.”
Breeze has grown rapidly and relentlessly since its launch. In 2024 alone, the airline will add 29 more destinations and increase capacity by more than 52%. Although the airline operated at a loss all year – as is common with new airlines – it earned 78% more revenue than in 2023.
Related reading:
