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July 15, 1999|Bloomberg News

* New Air Corp. said its new low-fare airline out of New York City will be called JetBlue Airways and promised the city that its fares will be 65% below some current ticket prices. The company raised about $130 million in capital from well-known investors such as George Soros and Chase Manhattan's Chase Capital Partners. It plans to start operations early next year with 10 planes flying to 12 cities. JetBlue said it will eventually operate a fleet of 82 Airbus planes flying from New York's John F. Kennedy International Airport to about 44 cities.

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