2024-02-14 20:02:00 ET
Summary
- The biggest issue looming over JetBlue is its failed bid to purchase Spirit.
- In JetBlue’s core New York market, average domestic fares fell by 6% year-over-year at JFK airport in the third quarter, according to U.S. Department of Transportation statistics.
- JetBlue is trying to manage what is in its control, deferring capital spending, switching around seating to juice revenue, and cutting costs.
- Activist investor Carl Icahn disclosed a 9.9% stake in budget airline JetBlue Airways, according to regulatory filings.
By Breakingviews
Rabble-rousing investor Carl Icahn has picked his moment well. Late Monday, he disclosed a 10% stake in carrier JetBlue Airways (JBLU), which is reeling from a blocked $4 billion tie-up with Spirit Airlines. The airline has too many ails for an activist’s fix. But as Icahn’s previous campaigns show, investors might be willing to give him a chance anyway....
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JetBlue's Turbulence Gives Carl Icahn An Easy Ride