- Icahn Capital sold 8.13m JetBlue shares between 17-20 August 2026
- The stake was reduced from nearly 10pc to approximately 3.32pc
- Sales generated approximately USD40.4m at prices from USD4.73 to USD5.28
- The group has fallen below the 5pc ownership threshold for reporting requirements
- The Icahn Group was JetBlue’s third-largest shareholder behind BlackRock and the Galkins
Icahn Capital LP, the investment firm through which US businessman Carl Icahn manages investment funds, sold about 8.13m JetBlue Airways shares between August 17 and August 20, 2026, reducing the Icahn Group’s stake in the carrier to approximately 3.32pc. The sales generated approximately USD40.4m, with shares sold at prices ranging from USD4.73 to USD5.28 apiece. Following the transactions, the Icahn Group beneficially owned 12.5m JetBlue shares.
Having fallen below the 5pc ownership threshold on August 18, the group is no longer subject to the reporting requirements applicable under Securities Exchange Act rules. JetBlue’s 2026 proxy statement identified the Icahn Group as its third-largest shareholder, behind BlackRock Financial Management Inc. and Vladimir and Angelica Galkin. The proxy cited earlier regulatory filings showing that the Icahn Group held 33.6m shares, while BlackRock controlled 42.9m shares and the Galkins held 34.6m shares.
Icahn acquired an almost 10pc stake in JetBlue between January and February 2024, paying approximately USD119.75m for 33.6m shares. The investment subsequently resulted in JetBlue appointing two Icahn designees to its board in May 2024. The latest sales have also taken the Icahn Group below a threshold governing those board seats, with the group retaining its remaining board representation as long as it owns at least 10.1m shares.
An Icahn Capital shared in a written statement: “The sales were made between August 17 and August 20, 2026, reducing the Icahn Group’s stake in the carrier to approximately 3.32pc.”
Travel Extra shared: “The Icahn Group acquired an almost 10pc stake in JetBlue between January and February 2024, paying approximately USD119.75m for 33.6m shares. Following the transactions, the Icahn Group beneficially owned 12.5m JetBlue shares and is no longer subject to reporting requirements.”
