Carl Icahn Buys Nearly 10% Stake in JetBlue, Shares Soar

The investment follows a blocked deal with Spirit Airlines, signaling confidence in JetBlue's potential turnaround.

Carl Icahn acquires a nearly 10% stake in JetBlue, boosting the airline's stock significantly.
The acquisition comes after a federal judge blocked JetBlue's planned $3.8 billion purchase of Spirit Airlines.
Icahn's investment is seen as a vote of confidence in JetBlue, which has faced profitability challenges and a declining stock price.
JetBlue and Spirit are appealing the court decision, with JetBlue aiming for a turnaround in profitability by 2024.
Icahn seeks board representation at JetBlue, indicating an active role in the airline's future direction.