14.09.2022 - 19:43 UTC
Avelo Airlines (XP, Burbank) accelerates its expansion across the United States with the opening of a base at Fort Myers Southwest Florida; its second in Florida and its fourth overall behind Burbank, New Haven, and Orlando Int'l.
Beginning in November, Avelo will base one of its B737s at Fort Myers. According to the ch-aviation fleets advanced module, the fleet numbers five B737-800s and six B737-700s. Only two of its B737-800s are owned, the rest of the fleet is leased from Castlelake, Commonwealth Bank of Australia, GECAS, and Genesis Aircraft Services respectively, ch-aviation fleets advanced data shows.
The airline expects to increase its fleet to 14 aircraft by the end of 2022 and to16 by the second quarter of 2023, according to a company statement.
Avelo Airlines currently operates flights several days per week between Fort Myers and New Haven. Beginning November 10, it will serve four additional destinations from Fort Myers: Raleigh/Durham in North Carolina; Binghamton in New York; and...
04.05.2022 - 15:25 UTC
Avelo Airlines (XP, Burbank) has named Orlando Int'l as its third base of operations, as well as five new US East Coast routes, and a new integrated flight crew training programme as the budget carrier prepares for continued growth in its second year of operation.
Founder, Chairman and Chief Executive Officer Andrew Levy, in a statement, said the new base would open in June, joining the West Coast base in Burbank north of Los Angeles and the East Coast base in New Haven, Connecticut.
Over the 2022 summer, Avelo will initially take delivery of and base two B737-800s at Orlando, the airline confirmed to ch-aviation. It expects to base additional B737NGs in Orlando in the third and fourth quarters. The company said that the fleet would grow to at least fifteen B737NGs by the end of 2022.
The carrier aims to serve at least ten non-stop destinations from Orlando by the end of 2022, including New Haven, which it already serves daily nonstop.
This summer, Avelo will...
Editorial Comment: Updated with confirmation that Avelo initially will base two B737-800s at Orlando International. - 06.05.2022 - 06:26 UTC
07.01.2022 - 19:57 UTC
Avelo Airlines (XP, Burbank) has raised USD42 million in Series B funding after disposing of stock at what it termed, "a significant premium" on its original Series A round wherein it raised approximately USD125 million in January 2020.
According to the carrier, Morgan Stanley Tactical Value (MSTV) is now its largest shareholder after one of its funds invested an additional USD30 million beyond their Series A investment. Other participants in this second-round offering were Series A shareholders including Avelo Founder, Chairman, and CEO Andrew Levy, board members (or the entities they represent), and members of management who collectively invested more than USD34.7 million.
"The incremental capital we've raised is a significant vote of confidence in Avelo's initial momentum and the enormous opportunity ahead of us," Levy said. "This additional capital significantly bolsters our already strong balance sheet and enables the acceleration of Avelo's growth trajectory in 2022 and beyond."
The Texas-headquartered budget carrier currently operates three B737-700s and three B737-800s on flights covering the US West and East Coasts. Bases are at...
26.10.2021 - 06:22 UTC
Avelo Airlines (XP, Burbank) says it is in the process of changing its legal name - TEM Enterprises, Inc. - to Avelo Airlines, Inc. and has therefore petitioned the US Department of Transportation (DOT) to both register the change and to reissue the carrier's certificates to engage in the interstate and foreign air transportation of persons, property and mail under its new name.
"TEM is in the process of changing its corporate name to Avelo Airlines, Inc. to better harmonize the company’s corporate and business names, and for administrative convenience," it said in its application dated October 20.
However, the Texas-based firm said that following the name change, it may continue to use the trade name XTRA Airways (Fort Lauderdale Int'l) and therefore requested the "d/b/a" for XTRA Airways remain in place.
Avelo currently operates budget flights using three B737-700s and three B737-800s (with five more due). Operationally, it is present on the US west and east coasts via bases at each of Burbank in California and New...
