JetBlue Faces Investor Pressure Amid Deep Losses

JetBlue Airways is under increased pressure from its second-largest investor, Vladimir Galkin, who has threatened to sell his nearly 10% stake—valued at over $200 million—if the airline does not improve its financial performance within a year. The company has suffered a 43% decline in its stock price this year, driven by weakened travel demand, rising operational costs, and broader economic uncertainty that is especially challenging for carriers serving price-sensitive passengers. CEO Joanna Geraghty has acknowledged that JetBlue is unlikely to break even in 2025 and has announced a cost-cutting plan involving route reductions, resource optimization, and the possible downsizing of the board, currently at 13 members. Galkin has proposed reducing the board to as few as five members to further control expenses. Despite these initiatives, Galkin and other investors remain cautious and will reassess their positions in the coming year. JetBlue's future now depends on the success of its restructuring efforts and its ability to adapt to a difficult market environment.