Jetblues? Investor may sell 10% stake as airline pushes cost cuts
This photograph shows a Jetblue - AIRBUS A220-300 aircraft displayed during the 55th edition of the International Paris Air Show at the Paris–Le Bourget Airport, in Le Bourget, suburb of Paris on June 17, 2025.
Bertrand GUAY / AFP
JetBlue Airways’ second-largest investor, Vladimir Galkin, is considering selling his nearly 10 percent stake if the airline’s cost-cutting efforts fail to improve its performance, Reuters reported on 26 June.
According to Reuters, Galkin invested over $200 million in JetBlue in 2024 following gains from the 2021 GameStop rally. The airline has struggled this year, with its stock down around 43 percent amid weak travel demand.
JetBlue recently outlined its JetForward plan, aimed at delivering up to $900 million in earnings before interest and taxes by 2027. The carrier also announced new premium seating options and route adjustments to boost profitability.
Galkin told Reuters he remains hopeful about JetBlue’s future but may reconsider his position depending on the success of these initiatives.