US low-cost carrier Breeze Airways has reported its first full quarter of operating profit in Q4 2024, marking a significant milestone in the airline’s rapid expansion.

The airline generated more than $200 million in revenue during the quarter, achieving an operating margin exceeding 4%. Full-year revenue for 2024 reached over $680 million, reflecting a 78% increase compared to 2023.

Breeze Airways initially achieved a single month of operating profitability in March 2024, shortly before its third anniversary, driven by a more than 30% year-over-year increase in unit revenue.

That momentum continued into April and beyond, supported by substantial capacity growth. Over the course of 2024, the airline added 29 new destinations, increasing available seat miles (ASMs) by more than 52% year-over-year.

David Neeleman, founder and chief executive of Breeze Airways, said: “This milestone is a major accomplishment for Breeze and a strong testament to the hard work, dedication, and determination of our more than 2,000 incredible Team Members.

“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 US. Most importantly, we’ve done so safely, providing millions of people access to efficient, affordable, and elevated air travel.

“It’s clear our hybrid model – one we refer to as ‘Nice Low-Cost Carrier, or NLCC’ – is not just working, but thriving.”

A key driver of Breeze Airways’ strategy is its point-to-point business model, which focuses on underserved secondary airports. As of December 2024, it was the sole carrier on 87% of its 220 non-stop routes, positioning itself as a key player in markets largely abandoned by major airlines.

Since launching in May 2021 with a fleet of leased Embraer E190 and E195 aircraft, Breeze Airways has shifted its focus to the Airbus A220-300, which now forms the backbone of its scheduled operations.

The airline took delivery of 13 A220s in 2024, bringing its total to 33, with firm orders for 90 and options for 30 more through 2028. The remaining Embraer aircraft continue to support its charter business and supplement scheduled services as needed.

With an average A220 utilisation of over 10 hours per day – a 4% year-over-year increase – Breeze Airways now operates one of the youngest and most efficient fleets in the industry, positioning itself for continued growth in 2025 and beyond.

Lukas Johnson, chief commercial officer at Breeze Airways, said: “Our key to success lies in our ability to leverage the unique size and efficiency of the A220 to offer direct service between underserved cities with a premium product people really enjoy.

“That, combined with our ability to put planes where and when they’ll be most successful, is what truly makes Breeze stand out in the industry.”

Trent Porter, chief financial officer at Breeze Airways, said: “By maintaining one of the most cost-efficient structures in the industry, combined with record-breaking growth and revenues, Breeze is doing something few airlines have managed to do at this age and stage. I’m confident this is just the first of many profitable quarters to come for Breeze.”

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