Breeze Airways Achieves Profit and Revenue Surge

Breeze Airways, the innovative U.S. airline founded by aviation veteran David Neeleman in 2021, reported a significant increase in annual revenue for 2024, alongside its first-ever quarterly operating profit. This Salt Lake City-based carrier, which remains privately held, has unveiled its most comprehensive financial overview to date, showcasing impressive growth and operational success.

In 2024, Breeze Airways generated $680 million in revenue, marking a remarkable 78% increase from the previous year. This substantial growth is a testament to the airline’s strategic focus on serving underserved markets and expanding its route network. In the fourth quarter alone, Breeze Airways achieved $200 million in revenue and an operating margin exceeding 4%, signaling the airline’s transition to profitability.

“Our goal for 2025 is certainly to have a full-year operating profit,” stated Lukas Johnson, Chief Commercial Officer of Breeze Airways, during an interview with Aviation Week following the release of the airline’s 2024 financial results on January 23. This optimistic outlook underscores Breeze’s commitment to sustainable growth and financial stability as it continues to mature in the competitive airline industry.

Breeze Airways has successfully carved out a niche in the U.S. market by focusing on flying between smaller cities and connecting these markets to major airports. Currently operating approximately 220 nonstop routes, 87% of which are noncompetitive, Breeze prioritizes routes that lack sufficient service. “It’s definitely about the routes that you’re serving,” Johnson explained. “You may fly to LAX, but these are markets that don’t have service to LAX.”

Positioning itself as a “premium leisure LCC” (low-cost carrier), Breeze Airways offers a unique blend of affordability and comfort. The airline’s Airbus A220s are configured with 137 seats, including 12 seats upfront with a 39-inch pitch, 45 seats with a 33-inch pitch, and 80 seats with a 30-inch pitch. This configuration allows Breeze to provide a comfortable travel experience while maintaining competitive pricing. Johnson noted a significant trend of passengers upgrading their seats, particularly returning travelers. “The second time somebody flies us, universally in all markets, they upgrade,” he said. “We do have a no-frills base fare … and it’s very affordable. But we also allow you to purchase all the way up, kind of a choose your own adventure.”

Breeze Airways’ fleet has grown impressively, with the airline taking delivery of 13 Airbus A220s in 2024, bringing its total fleet to 33 aircraft. Additionally, Breeze operates 10 Embraer E190s and three E195s for charter flights and to supplement its A220 fleet during peak demand periods. The airline boasts an average A220 utilization of over 10 hours per day in 2024, a 4% year-over-year increase, demonstrating efficient fleet management and strong demand.

In 2024, Breeze Airways expanded its network by adding service to 29 new destinations, increasing its presence to 66 airports across the United States. The airline’s capacity, measured in available seat miles (ASM), rose by 52% year-over-year, reflecting its aggressive growth strategy and increasing market penetration. Johnson emphasized that while Breeze will not add 29 new cities in 2025, the focus will shift to enhancing connections between existing destinations and increasing flight frequencies. “We’ve launched all these airports, and [2025] is going to be a little bit more about growing connections between them or increasing frequencies,” he explained. “There are thousands of [potential] routes without service … and that doesn’t include international.”

Looking ahead, Breeze Airways is planning to introduce scheduled international flights in 2025, targeting routes that are near international. While specific destinations have not yet been announced, Johnson assured that Breeze will not be operating transoceanic flights in the near future. “We’re not going to fly across one of the oceans yet,” he clarified.

Founder David Neeleman, who also established JetBlue Airways and Brazil’s Azul, expressed pride in Breeze’s achievements. “Breeze is establishing a robust presence in dozens of underserved markets across the U.S.,” Neeleman stated. This strategic focus on underserved markets has allowed Breeze to grow rapidly while maintaining operational efficiency and customer satisfaction.

Despite not releasing detailed cost information, Johnson highlighted that Breeze Airways’ cost trends are improving. “The great thing is [2024] costs didn’t grow nearly as much [as revenue],” he said. “Our revenue grew significantly, and our cost per available seat miles actually dropped year-over-year. Those are trend lines you really want to see as an airline, especially as a young airline.”

As Breeze Airways continues to build its brand and expand its network, the airline anticipates sustained revenue growth and increased market presence. Johnson is confident that as Breeze becomes more well-known, its revenue will continue to rise, benefiting from enhanced brand recognition and expanding route options. “It’s not easy being a startup, but one of the benefits you have is that as you get more well known, your revenue grows,” he concluded.

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