JetBlue insiders sell shares after Spirit Airlines collapse
Updated
Updated · Barron's · May 9
JetBlue insiders sell shares after Spirit Airlines collapse
2 articles · Updated · Barron's · May 9
Director Thomas Winkelmann and accounting officer Dawn Southerton sold 53,666 shares worth about $257,821 between May 2 and May 4, exiting their remaining JetBlue stakes.
JetBlue shares rose 4.3% on May 1, the last trading day before Spirit shut early on May 2, as reports of an imminent shutdown lifted legacy airline stocks.
Spirit said higher oil prices linked to the Iran war and other pressures made recovery impossible. Analysts say JetBlue could expand Florida routes and capture market share after Spirit's exit.
JetBlue executives sold all their stock as Spirit collapsed. Was this smart timing or something more?
With Spirit's collapse, is the era of the ultra-low-cost American airline coming to an end?
As airlines shrink economy seats to sell upgrades, is passenger discomfort now a permanent feature of air travel?