In the late 1990s, after deregulation ushered in an era of lower costs and less comfort, Brazilian-American airline entrepreneur David Neeleman launched a new airline with a single goal in mind. : bring “humanity back to air travel”. JetBlue Airways Corporation (JBLU) was incorporated in 1998 and began operations in February 2000.
The airline is popular with air travelers who love free perks: unlimited branded drinks and snacks, on-board Wi-Fi, satellite radio and DirecTV, not to mention its best-in-class legroom. 'coach. Additionally, JetBlue achieved the highest customer satisfaction in the premier/business segment for the consecutive year section in 2023.
- JetBlue's major shareholders include a number of current executives still employed by the company.
- As part of their annual compensation, JetBlue executives receive bonus shares, called restricted stock units, which are issued on a specific date once certain performance conditions are met.
- As of September 2023, JetBlue's largest institutional investors included Blackrock, Vanguard and Dimensional.
- JetBlue CEO Robin Hayes has the top individual ownership, followed by Joanna Geraghty and Brandon Nelson.
The 3 main individual shareholders
Below are three current employees who are all ranked among the largest holders of JetBlue stock. Note that this section only highlights direct ownership shares and does not include indirect ownership of shares. Each individual owner represents less than 0.02% of the total outstanding shares owned.
Robin Hayes took over as president of the company in 2014, then, almost a year later, as president and chief executive officer (CEO). Hayes was a JetBlue executive for seven years previously, joining the company after a 19-year career with British Airways. Hayes oversaw the expansion of Mint, JetBlue's wildly popular premium cabin with reclining seats and private suites. According to Nasdaq, Hayes owned 623,532 shares as of November 11, 2023.
JetBlue prides itself on handling an average of 1,000 flights per day with more than 40 million customers served.
Joanna Geraghty has served as president and chief operating officer (COO) of JetBlue since May 2018. Geraghty joined the company in 2005 and served as executive vice president of customer experience from 2015 to 2018 and was previously vice president and associate general counsel of the airline. Geraghty owns over 248,000 shares of JetBlue stock as of April 2023.
The next closest shareholder as of March 2023 was Brandon Nelson with 23,987 shares. Nelson is general counsel and corporate secretary and joined the company in 2005. Nelson serves on the investment committee of the company's wholly owned corporate venture capital arm.
The 3 main institutional shareholders insiders
As of September 30, 2023, there were 389 institutional holders of JetBlue stock. Collectively, these institutions held more than 242 million shares. Below are the three institutions with the largest stake.
As of September 30, 2023, Blackrock held by far the largest number of shares of JetBlue. The company held 61,172,802 shares, or approximately 18.4% of the shares outstanding. According to BlackRock's fourth-quarter 2023 financial results, the mutual fund company had more than $10 trillion in assets under management, a year-over-year increase of 16%.
BlackRock holds JBLU in several ETFs. In its iShares Core S&P Small-Cap ETF, the fund holds 22,678,103 stocks, or 0.17% of the fund's weight. It also holds more than 8.1 million shares (0.08% of the ETF weight) in its iShares Russell 2000 ETF.
Vanguard Group Inc.
As of September 30, 2023, Vanguard Group held the second most JetBlue shares among institutional companies. It held 36,705,537 shares, or approximately 11% of the shares outstanding. Vanguard, an investor-owned entity, offers 422 funds worldwide and serves more than 50 million investors by the end of 2023. Vanguard operates a number of funds, including the Vanguard S&P Small-Cap 600 Value ETF which holds 859,000 shares (0.32% of portfolio weight) in JBLU.
LP Dimensional Fund Advisors
As of September 30, 2023, Dimensional Fund Advisors LP held the third most shares, just edging out State Street Corp by approximately 500,000 shares. The company held 13,397,424 shares, or approximately 4% of all shares outstanding. In September 2023, the private investment firm announced that it had more than $100 billion in ETF assets under management. An example of a Dimensional ETF that owns JetBlue is the Dimensional US Small Cap Equity ETF.
Where is JetBlue headquarters?
JetBlue's headquarters is located in Long Island City, New York.
When was JetBlue founded?
JetBlue was founded in August 1998 by David Neeleman. The airline began operations in February 2000, including its first flight from JFK Airport.
How big is JetBlue's fleet?
JetBlue's fleet consists of Airbus A320, Airbus A321, Airbus A220 and Embraer E190.
JetBlue, launched in 2000, has become one of the world's leading aircraft manufacturers. Its main shareholders are Robin Hayes, Joanna Geraghty and Brandon Nelson. It is also widely held by institutional firms like BlackRock, Vanguard and Dimensional.