Breeze Airways has just enjoyed its first ever profitable quarter
Startup airline Breeze Airway turned a profit in the fourth quarter of 2024, the airline said Thursday, its first-ever quarterly profit since beginning operations in 2021.
It was a major milestone for Breeze, the latest airline from serial entrepreneur David Neeleman, who previously founded JetBlue and Brazilian carrier Azul, and ran TAP Portugal before the airline was nationalized during the COVID-19 pandemic.
Breeze uses a point-to-point operating model that aims to operate nonstop flights between smaller markets that do not otherwise have direct air connectivity. Breeze Airway began with short flights less than two-hours, using Embraer aircraft leased from Azul. Then, the airline built a fleet consisting of new Airbus A220 planes. The airline announced on Thursday that it made a profit in the first quarter of the year, but didn’t provide any details about the amount, revenue or yield. Breeze previously said that March of last year had been its first profitable operating month.
Daily Newsletter
Reward your inbox with the TPG Daily newsletter
Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG’s experts
Still, it was a landmark for the airline, which began operating during the pandemic in a largely oversaturated domestic market. The airline’s focus on shorter routes, without nonstop competition, helped it expand. Most importantly, we did it safely and provided millions of people with access to affordable, efficient, and elevated air transportation. “
Breeze’s growth has been rapid and unwavering since its launch. The airline said that in 2024, they added 29 new destinations and increased their capacity by 52%. The airline, which was operating at a loss throughout the year — a common occurrence for new airlines — earned 78% more revenue than in 2023.
