Breeze Airways has secured an additional $83 million in financing as it prepares for a planned spring 2021 launch.
The new financing gives the nascent carrier a total of more than $100 million in capitalization, which is "more than adequate balance sheet strength to launch its new operations," the company said in a recent regulatory filing.
• Related: Breeze Airways pushes back launch to May
Breeze, the latest airline venture of JetBlue founder David Neeleman, plans to connect midsize city pairs that have lost nonstop service due to airline consolidation over the past decade-plus. The Covid-19 crisis, the carrier said in the filing, will leave it even more city pairs to choose from.
Breeze's new capital raise was led by the investment management firm Peterson Partners and the private investment firm Sandlot.
Peterson Partners also invested with Neeleman when he founded JetBlue in 2000 and Brazil's Azul in 2008.