JetBlue Founder Financing New Low-Cost Airline

The founder of JetBlue, David Neeleman, is looking to finance a new low-cost airline called Moxy Airways that will start flying with Bombardier aircraft in 2020, utilizing smaller airports in an effort to reduce the hassle of traveling for passengers.

David Neeleman, an aviation industry entrepreneur and founder of JetBlue, is working his magic in the air travel world again. His goal? A new low-cost airline called Moxy Airways that he expects will reduce the hassle of traveling. He plans to utilize smaller airports for the airline so big airport stress can be avoided.

Moxy is expected to launch service in 2020. The airline already has 60 Bombardier CS300 planes on order and is working on getting together $100 million of operating capital before the service takes off.

Neeleman leads the group of investors working on the project, Bloomberg reported, and is hoping to get Chinese investors to finance 18 of the planes. It’s not yet visible how far along the group is in bringing the new airline to life; both Neeleman and his business associate Trey Urbahn have declined to comment. The airline does, though, already have a few plans in place – the C series jets will maximize economic potential thanks to lower fuel consumption and lightweight carbon fiber construction, and it expects to fly into secondary airports like Burbank in California, Providence in Rhode Island, and Forth Worth in Texas. In addition, the airline plans to only sell point-to-point tickets to further lower costs. But it doesn’t want to be an ultra-low-cost carrier; there should still be free wifi and decently sized seats.

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