Icahn Capital has reduced its stake in JetBlue Airways to about 3.3% after selling roughly 8.13 million shares over four days, leaving Carl Icahn’s entities with 12,528,346 shares. The move, disclosed in a filing on 20 August, pushed the holding below the 5% threshold that triggers the same level of activist reporting for larger shareholders.
The shares were sold between 17 and 20 August at prices between $4.73 and $5.28, generating about $40.4 million. JetBlue, based in New York, had previously ranked Icahn among its largest shareholders, and the reduction narrows a prominent activist position in the carrier’s investor base. The filing also indicates the group ceased to be a more-than-5% owner on 18 August, removing it from the standard Rule 13d-1(a) reporting requirement. The lower stake comes as JetBlue remains under close investor scrutiny, with Icahn’s influence now materially reduced.