Entrepreneur and found of jetBlue David Neeleman is leaving the domestic Low Cost Carrier (LCC) market for greener pastures: Brazil. Born and raised in the South American city of Sao Paulo, Neeleman is targeting that booming economy to host the next new Brazillian airline.
With ten million dollars of his own money, Neeleman has raised a total of $150 million to get the ball rolling. Just last week he signed a 1.4 billion dollar deal with Brazillian airplane manufacturer Embraer to purchase 36 195s, with an option to buy an additional 40.
Right now the airline is called AirBrazil, but it’s just a temporary name while they get a contest for the new name underway. The winner of that competition is supposed to get a lifetime of tickets for free.
I’ll bet that oil is a lot cheaper down there too.