JetBlue founder and airline mogul David Neeleman is reportedly gearing up to launch a new, lower-cost U.S.-based air carrier.
The airline, named Moxy, is expected to debut by 2020 and Neeleman is seeking to raise $100 million for the project, according to a report from trade publication Airline Weekly, which cited a source familiar with the plans. Moxy would be a lower-cost air carrier that will mainly fly out of smaller airports with access to major metropolitan areas.
Neeleman may be targeting his former airline JetBlue and rival Southwest. Both offer flights, for example, from T.F. Green Airport in Rhode Island, which is a smaller option to Boston’s Logan Airport, about an hour away by car.
According to the report, Moxy has already secured 60 Bombardier CS300s, which are expected to be delivered in full by 2024.
The chief executive of Air Canada is said to be an investor, while Neeleman will put some of his own capital into the airline. Neeleman declined to comment on the project when reached by Airline Weekly.
The JetBlue founder has already started three other airlines, including Azul Brazilian Airlines and Canada’s WestJet. Neeleman also runs Portugal’s national airline, TAP.
He was replaced as CEO of JetBlue in 2007 – after launching the company in 2000 – and left the board in 2008.