Insider Q&A: Avelo Airlines CEO Andrew Levy describes the challenges of starting a new carrier [Yahoo! Finance]
United Airlines Holdings, Inc. (UAL)
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Source: Yahoo! Finance
Neither did a pandemic that briefly caused air travel to plummet more than 90%. In April 2021, while COVID-19 still raged and billions of dollars from taxpayers were propping up big airlines, Levy launched Avelo Airlines with flights between Burbank, California, and Las Vegas. The airline saves money by flying older Boeing 737 jets that can be bought at relatively low prices. It operates out of less-crowded and less-costly secondary airports, and flies routes that are ignored by the big airlines. Levy was involved in the launch of ValuJet, which became Allegiant Air, and he also did a stint as the chief financial officer of United Airlines before starting Avelo (it rhymes with yellow). He spoke with The Associated Press about the challenges of starting a new airline, how the carrier is doing, and plans to sell shares to the public. The answers were edited for length and clarity. Q: Why did you think you should start a new airline? A: Shortly after I left Allegiant in 2014
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