Avelo Airlines (XP, Burbank) has hired American investment bank Jefferies Group LLC to help it raise up to USD100 million, according to a report from The Airline Observer.

The report states that USD50 million will be used for growth, the rest to improve the company’s finances, including reducing its leverage. Chief executive Andrew Levy said that Avelo could be looking at raising the money in two separate tranches. The first would be for short-term liquidity, and the second would seek between USD75 million and USD100 million….

Source: ch aviation
Read more: US’s Avelo Airlines looking to raise up to 0mn – report