AIP Capital has closed a $47.5 million secured debt financing with Breeze Airways, with the transaction arranged through AIP’s Private Credit business.
The financing is secured by a diversified collateral package comprising Breeze Airways' spare parts inventory, a spare engine and a flight simulator.
The US-based, low-cost airline said that the financing will support its introduction of new domestic and international routes, and its expansion into ancillary products.
Breeze Airways operates more than 300 year-round and seasonal routes to 81 cities in the US, Mexico and the Caribbean.
Operational since May 2021, Breeze Airways offers non-stop services to secondary markets on its fleet of Airbus A200-300 aircraft.
AIP Capital's Private Credit business provides tailored financing solutions secured by aircraft and non-aircraft collateral to airline customers.