On a Tuesday evening last December, the singer-pianist Michael Feinstein was at Café Carlyle on Manhattan’s Upper East Side in a sparkly silver blazer, making his way through the audience to the little stage, wherethe members of his four-piece band were taking their places. The audience erupted into applause. A few people stood and reached out a hand to greet him. As he launched into George and Ira Gershwin’s “Our Love Is Here to Stay,” some sang along, others swayed a little. Written in 1937, the American songbook standard is full of nostalgia, wit and romance. The same might be said for Café Carlyle.
Carl Icahn Gets Representation on JetBlue's Board
17.02.2024 - 14:05 / skift.com / Joanna Geraghty / Meghna Maharishi / Carl Icahn
JetBlue Airways announced Friday that two independent directors would join its board as part of a deal with activist investor Carl Icahn.
Jesse Lynn, the general counsel of Icahn Enterprises, and Steve Miller, a portfolio manager at Icahn Capital, will join JetBlue’s board as non-voting observers during the carrier’s annual shareholder meeting in the spring. After the meeting, Lynn and Miller will join JetBlue’s board as full voting members.
Icahn reported a nearly 10% stake in JetBlue on Monday, saying in a regulatory filing he believed the company’s stock was undervalued.
“We appreciate the constructive engagement we have had with JetBlue’s board and leadership team,” Icahn said. “We very much look forward to working with them in the future.”
Earlier on Friday, JetBlue and Icahn were reportedly nearing a settlement to avoid a proxy fight, according to The Wall Street Journal. The two board seats were part of that settlement.
JetBlue and Icahn also reached a deal on a customary standstill, voting commitments, and other provisions as part of the agreement, according to a filing Friday.
Icahn’s stake in JetBlue marks his first activist campaign since short seller Hindenburg Research accused the activist investor of running a “Ponzi-like” scheme to pay dividends, according to Reuters. The attack hindered Icahn’s ability to make new bets and caused him to lose billions of dollars in net worth.
JetBlue has been struggling to turn a profit after losing its merger with Spirit and the Northeast Alliance. S&P Global Ratings downgraded JetBlue’s credit rating on Thursday, citing financial performance that had “weakened considerably.”
New JetBlue CEO Joanna Geraghty said the carrier’s main focus is restoring profitability, with or without a Spirit merger. Part of her plan to bolster JetBlue’s finances includes increasing capacity on popular leisure routes and cutting costs.
“Building on our distinct brand and unique value proposition, we are focused on delivering value to our shareholders and all of our stakeholders, and we welcome the contributions of our new board members as we move forward with that common goal,” Geraghty said in a statement.
What am I looking at? The performance of airline sector stocks within the ST200. The index includes companies publicly traded across global markets including network carriers, low-cost carriers, and other related companies.
The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more airlines sector financial performance.
Read the full methodology behind the Skift Travel 200.
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04.03.2024 / 16:23
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This Simple Travel Hack Can Help You Save Big on JetBlue Flights
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28.02.2024 / 13:41
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Marriott Plans 12 Hotel Openings in India in 2024, Shimla to Get a Ritz-Carlton in 2029
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Five New Michelin Stars Shine As Portugal Gets Its Own Guide
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27.02.2024 / 19:33
How To Make The Most Of Vacationing In Monte-Carlo
A popular port of call for cruisers or daytime stop for French Riviera travelers, Monte-Carlo offers so much more than a quick diversion on a longer trip. The principality sandwiched between France and Italy offers luxury accommodations, fine dining, an incredible, palm-tree adorned setting on the coast, and top notch hospitality. With an almost nonexistent crime rate, a distinct local culture, 300+ days of sun per year and hoards of attractions, ranging from luxe beaches to lounge on to top rated restaurants, Monte-Carlo may be the best home base for your next getaway on the Côte d'Azur.
forbes.com
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