Azul Brazilian Airlines, the São Paulo-based carrier founded by JetBlue Airways founder David Neeleman in 2008, has commenced an initial public offering (IPO).

Azul is offering a total of 72 million preferred shares priced between BRL19 and BRL23, or between $18.02 and $21.81, per share.

It has applied to the New York Stock Exchange to be listed under the symbol AZUL and to the São Paulo Stock Exchange to be listed under the symbol AZUL4.

Azul operates flights to more than 100 destinations in Brazil as well as long-haul flights to Orlando and Fort Lauderdale in Florida and Lisbon. It is 23.7%-owned by China’s Hainan Airlines and 5%-owned by United Airlines.

It will be the launch operator of the Embraer E195-E2 aircraft.

Aaron Karp aaron.karp@penton.com