UTAH’S BREEZE AIRWAYS PROPELLED BY NEW FUNDING

In August, less than three months after launching its inaugural flights, Salt Lake City-based Breeze Airways announced the closing on $200 million in new funding that will enable the continuing expansion of the newest domestic carrier.

Breeze is the latest airline venture from Utah native David Neeleman following Morris Air, JetBlue, WestJet in Canada, and Brazil’s Azul Airlines. The Series-B funding by BlackRock, Knighthead Capital Management, as well as existing investors Peterson Partners and Sandlot Partners, brings Breeze’s total to $300 million, a record for a fledgling U.S. carrier.

Neeleman said that the funding will enable Breeze to expand its goal of connecting smaller U.S. airports with nonstop service at reduced fares, where often the only option is a longer connecting flight through a large hub airport. The strategy of providing service between smaller cities with secondary market airports stands in stark contrast to the industry norm of concentrating operations and flights at larger hub facilities. Breeze is adopting a wide range of technology tools, flexibility, and lower prices that they believe will distinguish them from the competition.