Overview

• Avelo closed a Series C round described as its largest single investment since its 2020 Series A, without disclosing the amount or the new investor.
• Management says the capital will support growth in U.S. and Caribbean scheduled service, targeted technology projects, and improvements to the customer experience.
• The airline reports improving results, with July marking its fourth profitable month out of five and noting stronger margins and cash.
• Avelo is reallocating capacity to the East Coast, planning to close its Burbank base by December and exiting West Coast routes, including recent withdrawals from Las Vegas.
• The raise comes as rivals move to enter vacated markets and as Avelo faces criticism for operating ICE deportation charters, while it readies a loyalty program and co‑branded credit card later this year.