JetBlue shares jump 15% as activist Carl Icahn reports stake

On Monday, activist investor Carl Icahn disclosed ownership of almost 10% of JetBlue Airways, asserting that the airline’s stock is currently undervalued.

Following this revelation, JetBlue’s shares experienced a surge of over 15% during extended trading.

Icahn acquired this substantial stake through a series of purchases made in January and February, as outlined in regulatory filings.

These documents also indicate Icahn’s intention to engage in further discussions with the company, exploring the potential for securing board representation.

JetBlue said in a statement, “We are always open to constructive dialogue with our investors as we continue to execute our plan to enhance value for all of our shareholders and stakeholders.”

Icahn has a history of investments in the airline sector, with one notable instance being his involvement in taking TWA private in the late 1980s, CNBC reported.

READ MORE: https://www.cnbc.com/2024/02/12/activist-investor-carl-icahn-reports-nearly-10percent-stake-in-jetblue-airways-says-stock-is-undervalued.html

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