Icahn Capital LP, the investment firm through which US businessman Carl Icahn manages investment funds, sold about 8.13 million JetBlue Airways (B6, New York JFK) shares between August 17 and August 20, 2026, reducing the Icahn Group’s stake in the carrier to approximately 3.32%.

The sales generated approximately USD40.4 million, with shares sold at prices ranging from USD4.73 to USD5.28 apiece. Following the transactions, the Icahn Group beneficially owned 12.5 million JetBlue shares. Having fallen below the 5% ownership threshold on August 18, the group is no longer subject to the reporting requirements applicable 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, and ahead of The Vanguard Group. The proxy cited earlier regulatory filings showing that the Icahn Group held 33.6 million shares, while BlackRock controlled 42.9 million shares and the Galkins 34.6 million shares.

Icahn acquired an almost 10% stake in JetBlue between January and February 2024, paying approximately USD119.75 million for 33.6 million shares, ch-aviation reported at the time. The investment subsequently resulted in JetBlue appointing two Icahn designees, Jesse Lynn and Steven D. Miller, to its board in May 2024.

The latest sales have also taken the Icahn Group below a threshold governing those board seats. Under its agreement with JetBlue, if the group owns fewer than 20.3 million shares, one of its two designees must resign from the board. The group retains its remaining board representation as long as it owns at least 10.1 million shares.