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JetBlue files for IPO
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February 12, 2002: 2:04 p.m. ET
Low-cost airline plans to raise as much as $125M with initial public offering.
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NEW YORK (CNN/Money) - JetBlue Airways Corp. filed a prospectus Tuesday for an initial public offering that could raise up to $125 million.
The New York-based low-cost airline said in a filing with the Securities and Exchange Commission it plans to use the money for working capital, including the purchase of more aircraft.
The underwriters for the deal will be Morgan Stanley, Merrill Lynch, UBS Warburg and Raymond James, the filing said.
"This deal is really wonderful," David Menlow, president of IPOFinancial.com, told CNNfn.
"The fact that JetBlue is coming out now is probably going to take the rocking chair off the garden hose and let people think the market's a little safer place in which to bring deals public," Menlow said.
JetBlue's maiden voyage between New York and Fort Lauderdale, Fla., was nearly exactly two years ago. The company now serves 18 cities and has a fleet of 22 jets.
In its filing JetBlue said it had revenue of more than $320 million in 2001 with net income of $38.5 million.
The company did not say where the company plans to trade, what symbol it will trade under, a price range for shares or how many shares will be offered. Such information is usually revealed in later filings. 
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