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JetBlue set to raise $506m in share offering

JetBlue Airways expects to raise more than $506 million via a share offering.

The US low-fares carrier has priced the offering of 36.5 million shares of its common stock at a price of $14.40 per share.

The size of the offering was increased from the previously announced 35 million shares of common stock.

The New York-based airline plans to use the net proceeds from the offering for general corporate purposes.

The offering is expected to close on December 4.

JetBlue plans to start its first transatlantic flights from New York and Boston to London in the third quarter of 2021.

The airline is initially expected to serve Gatwick and Stansted but is aiming for access to Heathrow.

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