Avelo Airlines debuted on April 8 at Hollywood Burbank Airport. The new discount airline was founded by Andrew Levy, who is also its chairman and CEO. The company’s leadership includes former senior airline executives from Delta, Frontier Airlines, Hawaiian Airlines, JetBlue Airways, Northwest, and Spirit Airlines.
Avelo Airlines will first fly between Burbank and another 11 destinations in the western U.S. Fares will start at $19 for one-way trips. The company will charge $10 to check your first bag and no change fees for flights. It also aims to inspire travel by serving smaller, underserved airports.
“People are ready to reconnect with family and friends and explore new places,” said Levy, according to Yahoo Finance. The company wants to provide better options and lower airline fares for American travelers.
Avelo Airlines' valuation and funding
Avelo Airlines raised $125 million from investors in January of 2020. When the COVID-19 pandemic struck, the company paused the plans to launch its service until travel demand came back. Currently, the company's valuation isn't clear.
Airlines were among the hardest-hit industries amid the COVID-19 pandemic. As more Americans get COVID-19 vaccines, the travel industry is expected to bounce back. Avelo Airlines will start by operating three Boeing 737–800 planes. The company expects to increase to six planes by the end of 2021, according to Yahoo Finance.
Avelo Airlines isn't on the stock exchange.
Currently, Avelo Airlines isn't on the stock exchange. Levy started planning to found a new airline in 2018 when airline profits were higher.
According to The Wall Street Journal, Levy said “the general premise behind Avelo has remained intact—to fill in gaps where other airlines don’t offer nonstop flights and to service secondary airports that are often less congested and more convenient for many travelers.”
Avelo Airlines doesn't have IPO plans.
CEO Andrew Levy hasn't given any indications about plans to take Avelo Airlines public. So far, it's backed by $125 million in private equity.
Avelo Airlines news
Originally, Avelo Airlines planned to launch from an East Coast airport, with Wilmington, Del. being a strong possibility. However, due to the COVID-19 pandemic, other carriers cut their services to the Burbank airport, which made BUR a logical choice for Avelo Airlines.
Customers can now search for and book flights with Avelo Airlines on its website aveloair.com. Fares are currently available starting April 28 and you can book travel for dates through September 15, 2021.
Avelo Airlines' Hollywood Burbank airport destinations
Avelo Airlines will begin by offering flights between Hollywood Burbank Airport and 11 western U.S. destinations. The routes are less commonly traveled and provide little direct airline competition. Avelo also said that Hollywood Burbank Airport is the most convenient airport for the greater Los Angeles area.
The destinations included in Avelo Airlines’ routes emphasize convenience to outdoor destinations and national parks like several wine country regions, Yellowstone National Park, and the Cascades.
The airports served by Avelo Airlines:
- Arcata / Eureka, Calif. (ACV)
- Bend / Redmond, Ore. (RDM)
- Bozeman, Mont. (BZN)
- Eugene, Ore. (EUG)
- Grand Junction, Colo. (GJT)
- Medford, Ore. (MFR)
- Pasco, Wash. (PSC)
- Phoenix / Mesa, Ariz. (AZA)
- Odgen, Utah (OGD)
- Redding, Calif. (RDD)
- Santa Rosa, Calif. (STS)