Avelo Airlines reports first ever full-quarter profit

Avelo Airlines has completed 2023 with ‘strong year-over-year revenue growth’ as the airline records its first ever profitable quarter. Over the course of the year, the US airline flew 2.3 million passengers; generating $265 million in revenue (74% more than in the previous year). Despite ongoing elevated fuel prices, its monthly pre-tax margin in December contributed to the company’s record Q4 earnings. “I am confident Avelo’s strong liquidity position, ongoing margin development, healthy revenue outlook, industry-leading reliability, and rigorous cost discipline will deliver our first profitable year in 2024,” explained Avelo Airlines founder, chairman and CEO Andrew Levy. Avelo also