It¡¯s a milestone achievement for a newcomer airline.
Avelo Airlines, which is barely three years old, had the first profitable quarter in its short history by coming out in the black for the fourth quarter of 2023.
The carrier, which recently extended its nationwide flight schedule through summer?and began international service, said it will also shift one of its western bases from Las Vegas to Sonoma County in Northern California.
Though Avelo still operated at a loss for the full year the carrier said it brought in $265 million in revenue for 2023, up 74 percent from the previous year. The Houston, Texas-based airline is on track to be profitable for the full year in 2024, CEO Andrew Levy said.
"Achieving our first profitable quarter is an exciting and significant milestone in Avelo's journey," Levy said in a statement. "As we approach Avelo's third anniversary, I am very bullish about our future and the substantial opportunities ahead.¡±
Avelo operates 60 flights daily spread over 40 destinations and utilizes six bases.
But one of them will not be Harry Reid International Airport in Las Vegas. The airline is shifting its western base to Santa Rosa's Charles M. Schulz Sonoma County Airport (STS) in California. The airline is certainly comfortable and knowledgeable about the airport as it launched service from there in 2021.
It will maintain a base in Southern California in Burbank.
Avelo Commercial Head Trevor Yealy said the carrier remains committed to growing its western network and believes STS provides a good balance with Burbank.
¡°We've got more growth to come out of Santa Rosa,¡± Yealy said, noting both STS and BUR are "very popular secondary airports in major metro areas, Los Angeles and the Bay Area. ¡°By moving the base, we can better commingle, better make efficient destinations that we serve out of both bases.¡±
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