American Airlines Could Invest in New U.S. Carrier Connect
Photo Credit: Connect Airlines will connect Toronto's Billy Bishop Airport with major U.S. gateways when it launches. Connect Airlines
New regional carrier Connect Airlines has a memorandum of understanding with a major U.S. airline for a commercial partnership that, upon Connect closing its next round of fundraising, could turn into a significant equity investment.
The name of the "major U.S. airline" was not disclosed in a letter sent by the legal counsel for charter operator Waltzing Matilda Aviation, which owns Connect, to the Department of Transportation on August 4. But prior filings with the regulator for the airline's certification have named American Airlines as Connect's commercial partner once it begins revenue flights between Toronto's downtown-adjacent Billy Bishop Airport and American's Chicago and Philadelphia hubs. The potential investment was first reported by PaxEx.Aero.
Waltzing Matilda CEO John Thomas declined to name the potential major U.S. airline investor, and noted that "it is not necessarily as previously filed as that was noted simply as an interline agreement."