Airline startup Breeze Airway turned a profit in the fourth quarter of 2024, the airline said on Thursday, its first quarterly profit since it began operations in 2021.
It was a major milestone for Breeze, the latest airline from serial entrepreneur David Neeleman, who founded JetBlue and Brazilian airline Azul, and ran TAP Portugal before the airline was nationalized during the COVID-19 crisis.
Breeze uses a point-to-point operating model that aims to use non-stop flights between small markets that have no other direct air connections. The airline started by operating short flights of less than two hours with a fleet of Embraer aircraft leased from Azul, before building a fleet of brand new Airbus A220 aircraft.
The early use of Embraer jets allowed Breeze to keep its capital costs low as it started operations, although it now uses those jets primarily for charter service, preferring the more efficient A220 on regular scheduled routes.
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Because Breeze is a private company, it doesn’t have to disclose as much financial information as larger publicly traded airlines. In Thursday’s announcement the airline said it was profitable for the quarter, but did not provide details on actual profit, revenue, or yield. Breeze previously said March last year was the first profitable month of operations.
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Still, it was a milestone for the airline, which began operations at a turbulent time in an overcrowded domestic market. Its focus on smaller routes without relentless competition helped it continue to grow, however.
“In less than four years, we have been able to grow Breeze at an unprecedented rate while establishing many underserved markets across the US,” Neeleman said in a statement. “Most importantly, we’ve done it safely, giving millions of people access to efficient, affordable, and superior air travel.”
Spirit has grown rapidly and steadily since its launch. In 2024 alone, the airline added 29 destinations and increased its capacity by more than 52 percent, it said. While the airline has been operating at a loss for the entire year – common for new airlines – it has received 78% more revenue compared to 2023.
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