The term "Blue" airline often refers to Azul Brazilian Airlines (Azul is Portuguese for "Blue"). It was founded by David Neeleman, a Brazilian-American entrepreneur who also founded JetBlue in the United States and Breeze Airways. Azul is a publicly traded company (NYSE: AZUL), so it is technically owned by its shareholders, though Neeleman remains a key figure. If you are referring to the now-defunct Blue Air (a Romanian low-cost carrier), it was nationalized by the Romanian government in late 2022 after suspending operations and failing to repay a state loan. In 2023, the airline filed for insolvency. Therefore, "Blue Air" is essentially state-owned but dormant, while "Azul" (The "Blue" airline of Brazil) is a major active carrier owned by public investors.