Milestone: Startup carrier Breeze just turned a profit for the first time
Startup airline Breeze Airways 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. The airline began by operating short flights of less than two hours with a fleet of Embraer jets leased from Azul, before building a fleet of brand-new Airbus A220 jets.
The early use of the Embraer jets allowed Breeze to keep its capital expenses low as it began operations, although it now uses those jets primarily for charter service, preferring the more efficient A220 on regularly scheduled routes.
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Because Breeze is a privately held company, it is not required to disclose as much detailed financial information as larger, publicly traded airlines. In Thursday's announcement, the airline said that it had made a profit for the quarter, but did not provide details as to the actual amount of profit, revenue or the yield. Breeze previously said that March of last year had been its first profitable operating month.
Still, it was a landmark for the airline, which began operating during the pandemic in a largely oversaturated domestic market. Its focus on leaner routes without nonstop competition helped it continue to expand, however.
"In under four years, we have managed to grow and expand Breeze at an unprecedented rate while establishing a robust presence in dozens of underserved markets across the U.S.," Neeleman said in a statement. "Most importantly, we've done so safely, providing millions of people access to efficient, affordable, and elevated air travel."
Breeze has grown rapidly and relentlessly since its launch. In 2024 alone, the airline added 29 destinations and grew its capacity by more than 52%, it said. While the airline operated at a loss for the full year — common for new airlines — it earned 78% more revenue compared to 2023.
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