(June 5, 2007) -- Reuters reports that JetBlue founder and now-former CEO/President David Neeleman and billionaire George Soros have sold chunks of their JetBlue stock.
The story is at: Reuters: Soros and JetBlue founder sell some holdings.
JetBlue is LB Airport's largest commercial tenant, having taken all of the airport's then-vacant large aircraft (over 75,000 pounds) flight slots in May 2001 after an appointee to City Hall's "Airport Advisory Commission" touted the Airport to founder Neeleman.
After City Hall and JetBlue officials communicated, city management agendized a misleading item that appeared only to change the Airport's rules for allocating flight slots (letting carriers hold them longer before flying them)...but didn't tell that the result would be JetBlue dramatically increasing flights by filling all then vacant slots.
City Hall's action, the culmination of the former O'Neill administration's policy of seeking to fill vacant flight slots although this wasn't required by law, put LB's Airport noise ordinance at some risk and led to pressure to expand LB's permanent terminal area facilities. At Council directive, management is expected to try and finance that multi-million project by using Airport revenue...which could only come by (at minimum) maintaining flights.
News of the JetBlue stock sales comes as Reuters also reports that Consumer Reports ranks JetBlue as number one in terms of customer satisfaction. That story is at JetBlue still popular U.S. airline, despite snafu