Vladimir Galkin Files 13D on JetBlue Airways

TL;DR

**Galkin files 13D on JETS.**

AI Summary

Vladimir Galkin filed a Schedule 13D on September 3, 2024, for JetBlue Airways Corp. The filing indicates a change in beneficial ownership of JetBlue's common stock. Galkin's address is listed as Miami, Florida.

Why It Matters

This filing signals a potential shift in significant shareholding for JetBlue Airways, which could impact stock price and corporate strategy.

Risk Assessment

Risk Level: medium — A Schedule 13D filing indicates a significant ownership stake and potential for activist involvement, which can introduce uncertainty.

Key Players & Entities

• Vladimir Galkin (person) — Filing person reporting beneficial ownership
• JetBlue Airways Corp (company) — Subject company of the filing
• 477143101 (other) — CUSIP number for JetBlue Airways Corp common stock

FAQ

Key Financial Figures

• $0.01 — me of Issuer) Common Stock, par value $0.01 per share (Title of Class of Securiti
• $212,841,110 — ported herein. A total of approximately $212,841,110 was paid to acquire the shares of Commo

Filing Documents

• vg_sc13d.htm (SC 13D) — 106KB
• 0001376474-24-000494.txt ( ) — 108KB

Security and Issuer

ITEM 1. Security and Issuer This Statement on Schedule 13D relates to the Common Stock, par value $0.01 per share ("Common Stock") of JetBlue Airways Corporation (the "Issuer"). The address of the principal executive offices of the Issuer is 27-01 Queens Plaza North, Long Island City, New York 11101.

Identity And Background

ITEM 2. Identity And Background . (a) This Schedule 13D is being filed jointly by: (i) each of Vladimir Galkin and Angelica Galkin, husband and wife; and (ii) The Angelica Galkin Revocable Trust, dated April 21, 2018 ("Galkin Revocable Trust") (collectively, the "Reporting Persons" and individually, a "Reporting Person"). (b) The business address of each Reporting Person is 10900 NW 97th Street, #102, Miami, FL 33178. (c) Vladimir Galkin is a citizen of the United States of America, and is principally engaged in the business of: (i) serving as Co-Founder, Executive Chairman, and Manager of HUBX, LLC; and (ii) investing in securities and real estate. Angelica Galkin is a citizen of the United States of America, and is principally engaged in the business of: (i) investments for the benefit of the beneficiary of the Galkin Revocable Trust; and (ii) investing in securities and real estate. The Galkin Revocable Trust is an estate planning vehicle that makes and holds investments for its beneficiary, Angelica Galkin. Angelica Galkin serves as the sole trustee of the Galkin Revocable Trust; provided, however, she has delegated to Vladimir Galkin the shared right to direct the voting and disposition of the securities owned by the Galkin Revocable Trust. Accordingly, each of Vladimir Galkin and Angelica Galkin: (i) has the shared right to direct the voting and disposition of the shares of Common Stock owned by the Galkin Revocable Trust; and (ii) may be deemed to beneficially own the shares of Common Stock held by the Galkin Revocable Trust. (d) No Reporting Person has, during the last five (5) years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) No Reporting Person has, during the last five (5) years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violati

Source and Amount of Funds or Other Consideration

ITEM 3. Source and Amount of Funds or Other Consideration . Each of Vladimir Galkin and Anglica Galkin used cash from their personal funds and margin account borrowings made in the ordinary course of business to make the purchases of shares of Common Stock listed herein. The Galkin Revocable Trust used cash from its capital account and margin account borrowings made in the ordinary course of business to make the purchases of shares of Common Stock listed herein. The positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the account, which may exist from time to time. Since other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the shares of Common Stock reported herein. A total of approximately $212,841,110 was paid to acquire the shares of Common Stock reported herein. Part of the purchase price of such shares of Common Stock was obtained through margin borrowing.

Purpose of Transaction

ITEM 4. Purpose of Transaction . The Reporting Persons acquired the securities reported herein for investment in the ordinary course of business because of their belief that the Issuer represents an attractive investment based on the Issuer's business prospects and strategy. The Reporting Persons may communicate with the board of directors of the Issuer (the "Board"), members of management and/or other shareholders or other relevant parties from time to time with respect to operational, strategic, financial or governance matters or otherwise work with management and the Board with a view to maximizing shareholder value. In addition, the Reporting Persons have had, and intend to continue to have, discussions with members of the Issuer's management and board of directors regarding the possibility of board representation. The Reporting Persons reserve the right to acquire, or cause to be acquired, additional securities of the Issuer, to dispose of, or cause to be disposed of, such securities at any time or to formulate other purposes, plans or proposals regarding the Issuer or any of its securities, to the extent deemed advisable in light of general investment and trading policies of the Reporting Persons, market conditions or other factors. Other than as set forth above, the Reporting Persons do not have any plans or proposals as of the date of this filing which relate to or would result in any of the actions enumerated in Item 4 of the instructions to Schedule 13D. 13D CUSIP No. 477143101 Page 6 of 8

Interest in Securities of the Issuer

ITEM 5. Interest in Securities of the Issuer . (a) As of the date hereof, each of Vladimir Galkin and Angelica Galkin may be deemed to beneficially own, in the aggregate, 34,609,605 shares of Common Stock, representing approximately 10.0% of the outstanding shares of Common Stock of Issuer. (If the Percent of the Class Represented by Amount in Row 11 of the Cover Page is rounded to the nearest hundredth (2 decimals), the percentage amount is 9.98%.) This amount consists of (i) 2,699,982 shares of Common Stock held jointly by Vladimir Galkin and Angelica Galkin, husband and wife, representing approximately 0.8% of the outstanding shares of Common Stock of Issuer; (ii) 106,699 shares of Common Stock held by the minor children of the Galkins, representing approximately 0.0%; and (iii) 31,802,924 shares of Common Stock held by the Galkin Revocable Trust, representing approximately 9.2% of the outstanding shares of Common Stock of Issuer. The Galkin Revocable Trust directly beneficially owns 31,802,924 shares of Common Stock, representing 9.2% of the outstanding shares of Common Stock of Issuer. The foregoing beneficial ownership percentages reported in this Item 5 are based upon 346,833,127 shares of Common Stock of the Issuer outstanding as of June 30, 2024, as reported in the Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, and filed by the Issuer with the Securities and Exchange Commission (the "SEC") on July 30, 2024. (b) See Rows 7-10 of the cover page for information regarding the power to vote or direct the vote and the power to dispose or direct the disposition of the shares of Common Stock by each of the Reporting Persons. (c) All the transactions involving shares of Common Stock effected during the past sixty (60) days by any of the Reporting Persons, which were all in the open market, are set forth in Schedule A, and are incorporated herein by reference. Except as otherwise noted below, all such transactions were purchases and sales

C ontracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

ITEM 6. C ontracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer . To the best of the knowledge of the Reporting Person, there are no contracts, arrangements, understandings or relationships (legal or otherwise) among the Reporting Persons or between the Reporting Persons and any person with respect to any securities of the Issuer, including but not limited to transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.

Material to Be Filed as Exhibits

ITEM 7. Material to Be Filed as Exhibits . 1. Exhibit A - Joint Filing Agreement of the Reporting Persons. 13D CUSIP No. 477143101 Page 7 of 8 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: September 5, 2024 By: /s/ Vladimir Galkin Vladimir Galkin Date: September 5, 2024 By: /s/ Angelica Galkin Angelica Galkin ANGELICA GALKIN REVOCABLE TRUST Date: September 5, 2024 /s/ Angelica Galkin By: Angelica Galkin Title: Trustee 13D CUSIP No. 477143101 Page 8 of 8 Schedule A This Schedule sets forth information with respect to each purchase and sale of Common Stock of the Issuer which were effectuated by Reporting Persons during the past sixty (60) days. All transactions were effectuated in the open market through a broker. Name of Reporting Person Date of Transactions Type of Transactions Number of Securities Price Per Share (1) Galkin Revocable Trust 08/30/24 Purchase 102,924 $ 5.14 Vladimir and Angelica Galkin (2) 08/30/24 Purchase 27 $ 5.07 Vladimir Galkin & Angelica Galkin, jointly 08/30/24 Sale (85,166) $ (5.15) Galkin Revocable Trust 08/29/24 Purchase 1,144,445 $ 4.97 Vladimir Galkin & Angelica Galkin, jointly 08/29/24 Sale (431,500) $ (4.97) Galkin Revocable Trust 08/27/24 Purchase 55,555 $ 4.85 Galkin Revocable Trust 08/26/24 Purchase 2,263,296 $ 4.79 Galkin Revocable Trust 08/22/24 Purchase 1,646,149 $ 4.77 Galkin Revocable Trust 08/21/24 Purchase 10,000 $ 4.79 Galkin Revocable Trust 08/20/24 Purchase 25,000 $ 4.80 Galkin Revocable Trust 08/19/24 Purchase 682,341 $ 4.79 Vladimir and Angelica Galkin (2) 08/19/24 Purchase 72 $ 4.78 Galkin Revocable Trust 08/16/24 Purchase 620,689 $ 4.73 Galkin Revocable Trust 08/13/24 Purchase 162,036 $ 4.63 Galkin Revocable Trust 08/13/24 Sale (25,000

View Full Filing

View this SC 13D filing on SEC EDGAR