March 27, 2008 -- The founder of U.S. discount airline JetBlue, David Neeleman, confirmed he will launch a Brazilian airline on Thursday. He said the venture will be based on the E195 regional passenger jet developed by Brazilian aircraft manufacturer Empresa Brasileira de Aeronautica, or Embraer and that he has already lined up both Brazilian and U.S. investors for a total of $150 million.
The new airline should begin operations with three jets in 2009, and will expand to 76 jets within five years. Orders have been placed for 36 jets with Embraer plus an additional 20 options. In addition to that, the new airline will also hold purchase rights to 20 more planes. The airline will follow the JetBlue model with low prices and different service models.
Abstracted from Dow Jones International News
