Avelo Airlines Fulfills Five-Year Agreement with $1.2 Million Payment to Tweed New Haven Airport
Avelo Airlines has made a $1.2 million payment to the Tweed New Haven Airport Authority, fulfilling part of a five-year use agreement. This payment is a "shortfall payment" designed to cover the difference between the fees Avelo paid and a guaranteed minimum revenue for the airport authority. The transaction covers the first year of the agreement, which ended on March 31, 2024. Both the airline and the airport confirmed the payment was an expected and planned part of their partnership. This financial commitment ensures the airport's financial stability and solidifies Avelo's long-term presence at its East Coast base.
Official Source: https://www.nhregister.com/news/article/avelo-5-years-tweed-new-haven-22504128.php
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