JetBlue Airways (JBLU) investor Vladimir Galkin is considering selling his nearly 10% stake in the airline if cost-cutting and turnaround efforts don't improve performance, Reuters reported Thursday.
The report said JetBlue has been struggling with weakened travel demand and withdrew its 2025 forecast, noting that it may not break even.
"I am underwater a little bit and just going to have to hold on to it. I don't want to say for as long as it takes, obviously, but maybe for another year," Galkin told Reuters.
Galkin, whose stake is worth $212 million, told Reuters that the company's new JetForward cost-cutting plan is a "positive step" but said the coming quarters will reveal if it's effective.
The report added that Galkin is hopeful JetBlue will return to profitability soon and believes Wall Street is overlooking the potential of its 2027 partnership with United Airlines.
JetBlue Airways did not immediately respond to MT Newswires' request for comment.
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