Shares of JetBlue Airways (JBLU) gained in double digits in after market trading on Feb 12. The upside followed a stake-related disclosure by activist investor Carl Icahn. Per a SEC filing, Icahn currently has a 9.91% stake in JetBlue.Justifying his decision to buy a stake in the low-cost carrier, Icahn said that he believed JBLU shares were undervalued and represented an “attractive investment opportunity". Icahn intends to continue discussing with management and board of directors regarding the possibilit ...

JetBlue Airways Corp.’s stock was the rare spot of green on stock screens Tuesday, getting a boost from a fresh investment by billionaire activist investor Carl Icahn. JetBlue JBLU, +15.90% shares were on track for their highest close since Aug. 2, when they closed at $6.90, and their largest one-day percentage increase since Dec. 7, when they rose more than 15%. Icahn disclosed a 9.9% stake in JetBlue in a filing late Monday, saying that the airline’s stock was “undervalued and represented an attractive in ...

Shares of JetBlue Airways jumped Tuesday after activist investor Carl Icahn bought a nearly 10% stake in the carrier.   The billionaire behind Icahn Enterprises owns 33.62 million shares, which is equivalent to a 9.91% stake, according to a filing with the Securities and Exchange Commission which also noted Icahn believes the shares are "undervalued and represented an attractive investment opportunity."Ticker Security Last Change Change % JBLU JETBLUE AIRWAYS CORP. 6.07 +0.13 +2.19% JetBlue's stock is on p ...

JetBlue shares soared nearly 12% Tuesday after reports surfaced that activist investor Carl Icahn scooped up a nearly 10% stake in the airline and said the stock is undervalued.The billionaire corporate raider amassed the stake in a series of purchases starting on Jan. 26, according to regulatory filings obtained by CNN — a week after a federal judge blocked JetBlue’s planned $3.8 billion acquisition of ultra-low-cost carrier Spirit Airlines.JetBlue and Spirit are appealing the decision, which would have c ...

Activist investor Carl Icahn has amassed a 9.91% stake in JetBlue Airways (JBLU 12.69%), and other investors are joining him onboard. Shares of JetBlue opened up 17.2% on Tuesday and were up about 11% as of 10 a.m. ET after the stake was disclosed.A new face in the cockpitJetBlue has been flying through headwinds of late. In 2022, the airline won a bidding war for Spirit Airlines (SAVE -7.44%), but that deal was blocked due to antitrust concerns earlier this year. The airlines are appealing, but in the mean ...

Investor Carl Icahn has taken a stake of nearly 10% in JetBlue (NASDAQ:JBLU).Icahn, who runs Icahn Enterprises (NASDAQ:IEP), said the budget airline is undervalued. He will seek a board seat in discussions with directors. The airline has been cutting operating costs following its failed effort to merge with Spirit Airlines (NASDAQ:SAVE).In response, JBLU stock rose 2% on Feb. 12 and another 14% overnight, adding over $300 million to its market capitalization. The stock opened this morning at $6.82 per share ...

Discount airline JetBlue Airways Corporation (NASDAQ:JBLU) is 17% higher premarket, after activist investor Carl Icahn disclosed a 9.91% stake in the company. Icahn called JetBlue Airways an undervalued and "attractive" stock to invest in, also disclosing discussions with the company's leadership about representation on the board. Should this positive premarket action keep up, JetBlue Airways stock will open at its highest level since a late-August bear gap of 8.1%. The shares would also be clearing their 2 ...

NEW YORK--(BUSINESS WIRE)--As previously announced, in connection with the Agreement and Plan of Merger, dated as of July 28, 2022 (the “Merger Agreement”), by and among JetBlue Airways Corporation (“JetBlue”) (NASDAQ: JBLU), Sundown Acquisition Corp., and Spirit Airlines, Inc. (“Spirit”) (NYSE: SAVE), JetBlue has set February 23, 2024, as the record date for the February 2024 prepayment to Spirit stockholders of $0.10 per Spirit share (the “February 2024 Additional Prepayment”), with payment of the Februar ...

Core Viewpoint - Carl Icahn has acquired a 9.9% stake in JetBlue, valued at approximately $200 million, and believes the airline's stock is undervalued, seeking board representation to influence its direction [1][2][4]. Group 1: Investment Details - Icahn's investment vehicles spent around $120 million to acquire 33.6 million shares, which were valued at $204 million as of the latest market close [3]. - This acquisition makes Icahn the third-largest investor in JetBlue, following BlackRock and Vanguard Group [4]. Group 2: Company Performance - JetBlue's stock price has decreased nearly two-thirds from over $20 in May 2021 to about $7 today, resulting in a market value of approximately $2 billion [4]. - The airline reported operating revenues of nearly $10 billion last year but incurred a net loss of $310 million, partly due to exceptional costs related to a blocked merger with Spirit Airlines [4]. Group 3: Strategic Moves - JetBlue's planned acquisition of Spirit Airlines for $3.8 billion was blocked by a federal judge, but the company still aims to finalize the deal [5]. - The airline has recently appointed a new CEO and rehired its former chief commercial officer as president to revitalize its business [6]. Group 4: Historical Context - Icahn's involvement with JetBlue is reminiscent of his past takeover of Trans World Airlines (TWA) in the 1980s, where he attempted to turn around the struggling airline [6]. - Although there are no indications that Icahn plans to take control of JetBlue, he sees potential value in the company and aims to help unlock it [7].

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