JetBlue founder David Neeleman has staked a hefty slice of his personal fortune on a new project: Azul, a low-cost airline based in Brazil. He's betting that Brazil's newly affluent middle class will help his airline avoid the turbulence in the U.S. aviation sector, and he is working hard to convert the country to the joys of air travel. "We are going to be the local airline," he promises.

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