New York-based JetBlue Airways has retabled plans to launch an initial public offering (IPO), after delaying the move in the wake of the 11 September terrorist attacks. JetBlue hopes to raise $125 million for working capital and aircraft purchases. The privately held carrier recorded a $38.5 million net profit for 2001 on revenues of $320 million after moving into the black in August 2000. To date, the company has raised $175 million of equity capital, which has helped it acquire new Airbus A320s. JetBlue is scheduled to add 60 more A320s by the end of 2007. The carrier started operations from New York Kennedy in February 2000 and by year-end was operating 102 daily flights to 18 US cities.
Source: Flight International
