Avelo Airlines has announced that it has been recapitalised, and claims that its cash position is now “one of the strongest in the US airline industry relative to its size”. The airline plans to use this cash infusion and balance sheet strength to execute its long-term strategy.
Avelo is streamlining its network around four current bases – New Haven, Conn. (HVN); Philadelphia / Delaware Valley (ILG); Charlotte / Concord, NC (USA); and Central Florida / Lakeland (LAL). In addition, the airline will open a base in Dallas / McKinney, Texas (TKI) in late 2026.
As part of this evolution, Avelo will close its bases in Mesa, Ariz. (AZA); Raleigh-Durham, NC (RDU); and Wilmington, NC (ILM). Avelo will continue serving Raleigh-Durham, NC (RDU) from New Haven, Conn. (HVN) and Rochester, NY (ROC). Avelo will also continue serving Wilmington, NC (ILM) from Nashville, Tenn. (BNA); New Haven, Conn. (HVN); Tampa, Fla. (TPA); and Washington, DC/Baltimore, Md. (BWI).
Concurrent with these network changes, Avelo states that it will make near-term schedule changes that will impact many customer itineraries, which the airline will communicate to affected passengers.
Avelo's fleet will be modified by the removal of six Boeing Next-Generation 737-700 aircraft, leaving the airline primarily operating its more efficient Boeing Next-Generation 737-800 aircraft.
These changes, says Avelo, will allow the company to focus on sustainably scaling five core bases in 2026 and to prepare the company for growth in the coming years, facilitated by the company's recent order for up to 100 Embraer 195-E2 aircraft.