Budget US carrier Avelo Airlines said it has raised its largest funding round since the company began operations in 2021, securing new capital from an undisclosed investor to bolster the carrier’s expansion plans and strengthen its balance sheet. The airline did not disclose the size of the investment, but called the new funding round “significant.”
The cash infusion will support growth in Avelo’s scheduled passenger service across the United States and the Caribbean. It also strengthens the Houston-based carrier’s finances as it retools a fledgling network that serves both smaller and larger cities.
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