From CNBC:

Billionaire investor Carl Icahn secured seats on JetBlue Airways’ board of directors after revealing a nearly 10% stake in the New York-based airline. The two new directors, Jesse Lynn and Steven Miller, are from Icahn Enterprises. JetBlue’s stock rose about 4% in after-hours trading following the announcement.

Icahn believes JetBlue’s shares are undervalued, as they have fallen more than 19% over the last year. The airline industry as a whole has seen an increase of about 7%. New CEO Joanna Geraghty is focused on returning the airline to profitability, cutting costs, and appealing a federal judge’s ruling against a merger with Spirit Airlines.

JetBlue has appointed two airline veterans to help lead the company and is committed to delivering value to shareholders. The airline has not turned a profit since before the pandemic and is working to become more reliable after a post-Covid travel surge and the failed merger with budget carrier Spirit Airlines.



Read more: Carl Icahn wins seats on JetBlue board after taking stake in airline