Low-cost airline Breeze said it has secured new financing to support its ongoing growth efforts.
Breeze and alternative investment manager AIP Capital on Tuesday announced the closing of $47.5 million in secured debt financing through AIP’s private credit business. The financing is secured by a “diversified collateral package” including the airline’s spare parts inventory, a spare engine, and a flight simulator, the partners said.
Breeze leaders said AIP’s loan will help power the carrier’s growth strategy, which includes the addition of new domestic and international routes and new ancillary products.
“We’re excited to have partnerships like AIP looking to explore innovative ways to support Breeze’s growth and mission to provide an elevated premium leisure experience to our current and future guests in unserved and underserved communities,” Breeze CFO Trent Porter said in a statement.
Breeze last month announced the planned launch of its first international flights after being certified as a U.S. flag carrier by the FAA. Starting early next year, the airline will serve Cancun, Mexico; Punta Cana, Dominican Republic; and Montego Bay, Jamaica.
Breeze has also added a number of domestic destinations this year, including Fort Lauderdale and Key West, Florida; Salisbury, Maryland; Greensboro/Winston-Salem, North Carolina; Albany and Rochester, New York; and Memphis, Tennessee. New routes to Lincoln, Nebraska, and Tri-Cities, Tennessee, are expected to come online later this year.
