About time: Breeze Airways achieves its first quarter with operating profits in 2024
Breeze Airways reports its first full quarter with operating profits in the fourth quarter of 2024, reaching over $200 million in quarterly revenue
Breeze Airways reported its first full quarter with operating profits in the fourth quarter of 2024. The airline generated more than $200 million in revenue during the quarter, with an operating margin exceeding 4%. For the entire year 2024, revenues surpassed $680 million, a 78% increase compared to 2023.
Breeze experienced accelerated growth in 2024, adding 29 new destinations and increasing its capacity in terms of available seat miles (ASM) by more than 52% compared to the previous year. The airline achieved profitability for the first time in March 2024, just before its third anniversary, driven by a 30% increase in unit revenue compared to 2023. By the end of the year, Breeze was the leading airline in destinations served in 24 of its 66 cities.
David Neeleman, founder and CEO of Breeze Airways, commented: “It’s a testament to the work, dedication, and effort of our more than 2,000 team members. We have grown at an unprecedented rate, providing affordable and efficient access to air travel in underserved communities. Our hybrid premium low-cost model, or what we call the ‘Nice Low-Cost Carrier’ (NLCC), is working and thriving.”
Breeze stands out for its point-to-point model, connecting secondary airports that have generally been neglected by major airlines in recent decades. Currently, Breeze is the only operator on 87% of its 220 direct routes, offering fares that are on average 44% lower than its competitors.
In 2024, Breeze added 13 new Airbus A220-300s, increasing its total fleet of this model to 33 aircraft. With category-leading fuel efficiency, the A220 has enabled Breeze to maintain an average utilization of over 10 hours per day, while its Embraer E190 and E195 aircraft primarily support charter flights. Breeze has 90 firm orders for the A220 and options for 30 more, which will be delivered through 2028.
“Thanks to the flexibility and efficiency of the A220, we have been able to offer a premium product and connect underserved cities directly and profitably,” noted Lukas Johnson, Breeze’s Chief Commercial Officer.
Looking ahead
In 2025, Breeze plans to continue its expansion, including the launch of international flights, while maintaining its focus on safety and reliability. Trent Porter, Breeze’s Chief Financial Officer, stated: “Our efficient cost structure, combined with our record growth, positions us for many profitable quarters ahead.”
Neeleman concluded: “I am immensely proud of what we have built in such a short time. Breeze is not only transforming the way people fly but also creating a positive impact on the communities we serve.”
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