Neeleman's new venture orders 36 planes

JetBlue founder and chairman David Neeleman last week unveiled his newest venture: a domestic Brazilian airline that will bring the low-cost carrier concept to that country, in competition against TAM and Gol. Neeleman, who resigned the CEO post at JetBlue after an operational meltdown at New York JFK last year, is still JetBlue’s chairman, although he hinted that might change as he devotes more time to the still-unnamed Brazilian start-up. The new venture has raised $150 million in start-up capital, and has placed orders with Embraer for 36 single-class, 118-seat jets. Neeleman said he expects the carrier eventually to grow to a fleet of 76. Starting a new domestic airline in Brazil was made easier for Neeleman by the fact that he holds dual U.S. and Brazilian citizenship. Neeleman was born in Sao Paulo.