Galkins (NASDAQ: JBLU) report 37.2M-share JetBlue ownership position

Rhea-AI Filing Summary

JetBlue Airways Corp. investors Vladimir and Angelica Galkin filed an amended Schedule 13D reporting beneficial ownership of 37,200,000 common shares, about 10% of JetBlue’s outstanding stock. Their position includes 2,000,000 jointly held shares and 35,200,000 shares held via the Angelica Galkin Revocable Trust.

The filing states roughly $225,793,084 was paid to acquire these shares, funded with personal cash, the trust’s capital and margin account borrowings. The Galkins say they view JetBlue as an attractive investment and may seek ongoing dialogue with management and the board, including potential board representation, while reserving the right to increase or reduce their stake.

Insights

Equity ownership & governance analyst

Galkins disclose a near-10% JetBlue stake with activist-style flexibility.

The filing shows Vladimir and Angelica Galkin collectively beneficially own 37,200,000 JetBlue shares, about 10.0% of outstanding common stock. Most of the stake is held through the Angelica Galkin Revocable Trust, with both spouses sharing voting and dispositive power.

The Galkins characterize the position as an investment but explicitly mention discussions with JetBlue’s management and board, including possible board representation. That language signals openness to a more active governance role, though no specific proposals or timelines are stated in this excerpt.

About $225,793,084 was paid for the stake, partly financed with margin borrowings secured by the positions. This adds some leverage risk at the investor level but does not change JetBlue’s balance sheet; the transactions occur in the secondary market among shareholders.

Key Figures

Beneficial ownership: 37,200,000 shares Ownership percentage: 10.0% Trust holdings: 35,200,000 shares +5 more

8 metrics

Beneficial ownership 37,200,000 shares Aggregate JetBlue common shares beneficially owned by Vladimir and Angelica Galkin

Ownership percentage 10.0% Percent of JetBlue common stock represented by 37,200,000 shares

Trust holdings 35,200,000 shares JetBlue shares held by the Angelica Galkin Revocable Trust

Jointly held shares 2,000,000 shares JetBlue common shares jointly owned by Vladimir and Angelica Galkin

Purchase consideration $225,793,084 Approximate total paid to acquire the reported JetBlue shares

Shares outstanding reference 372,018,894 shares JetBlue common shares outstanding as of March 20, 2026, per DEF 14A

Trust ownership percentage 9.5% Percent of JetBlue common stock held by the Angelica Galkin Revocable Trust

Event date 04/08/2026 Date of event requiring the amended Schedule 13D filing

Key Terms

Schedule 13D, beneficially own, margin account borrowings, dispositive power, +2 more

6 terms

Schedule 13D regulatory

"This Amendment No. 1 amends the filed on July 1, 2025 (the "Original " and as amended the ""). This Statement on relates to the Common Stock"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficially own financial

"each of Vladimir Galkin and Angelica Galkin may be deemed to beneficially own, in the aggregate, 37,200,000 shares of Common Stock"

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

margin account borrowings financial

"used cash from their personal funds and margin account borrowings made in the ordinary course of business to make the purchases"

dispositive power financial

"Shared Dispositive Power 37,200,000.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

Revocable Trust financial

"35,200,000 shares of Common Stock, which are held by the Angelica Galkin Revocable Trust, dated April 21, 2018"

A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.

Joint Filing Agreement regulatory

"Item 7. | Material to be Filed as Exhibits. | 1. Schedule A 2. Joint Filing Agreement"

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

JETBLUE AIRWAYS CORP

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

477143101

(CUSIP Number)

Vladimir Galkin
10900 NW 97th Street, #102,
Miami, FL, 33178
(310) 880-6330

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

04/08/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 477143101

1

Name of reporting person

Galkin Vladimir

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 37,200,000.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 37,200,000.00

11

Aggregate amount beneficially owned by each reporting person

37,200,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

10.0 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

(1) Includes 2,000,000 shares of Common Stock jointly owned by Vladimir Galkin and Angelica Galkin, husband and wife (the "Galkins"). (2) Vladimir Galkin also has shared voting power and dispositive power over 35,200,000 shares of Common Stock, which are held by the Angelica Galkin Revocable Trust, dated April 21, 2018 ("Galkin Revocable Trust"). Ms. Galkin is the sole trustee and beneficiary of the Galkin Revocable Trust. (3) If the Percent of the Class Represented by Amount in Row (11) is rounded to the nearest thousandth (3 decimals), the percentage amount is 9.999%. The percentage reported in this Schedule 13D is based on 372,018,894 shares of Common Stock of the Issuer outstanding as of March 20, 2026, as reported in the Definitive Proxy Statement on Form DEF 14A for the 2026 Annual Meeting, and filed by the Issuer with the Securities and Exchange Commission (the "SEC") on April 2, 2026.

SCHEDULE 13D

CUSIP Number(s): 477143101

1

Name of reporting person

Galkin Angelica

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 37,200,000.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 37,200,000.00

11

Aggregate amount beneficially owned by each reporting person

37,200,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

10.0 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

(1) Includes 2,000,000 shares of Common Stock jointly owned by Vladimir Galkin and Angelica Galkin, husband and wife (the "Galkins"). (2) Angelica Galkin also has shared voting power and dispositive power over 35,200,000 shares of Common Stock, which are held by the Galkin Revocable Trust. Ms. Galkin is the sole trustee and beneficiary of the Galkin Revocable Trust. (3) If the Percent of the Class Represented by Amount in Row (11) is rounded to the nearest thousands (3 decimals), the percentage amount is 9.999%. The percentage reported in this Schedule 13D is based on 372,018,894 shares of Common Stock of the Issuer outstanding as of March 20, 2026, as reported in the Definitive Proxy Statement on Form DEF 14A for the 2026 Annual Meeting, and filed by the Issuer with the Securities and Exchange Commission (the "SEC") on April 2, 2026.

SCHEDULE 13D

CUSIP Number(s): 477143101

1

Name of reporting person

Angelica Galkin Revocable Trust

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

FLORIDA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 35,200,000.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 35,200,000.00

11

Aggregate amount beneficially owned by each reporting person

35,200,000.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.5 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

(1) Angelica Galkin is the sole trustee and beneficiary of the Galkin Revocable Trust. (2) Vladimir Galkin and Angelica Galkin have shared voting power and dispositive power over 35,200,000 shares of Common Stock, which are held by the Galkin Revocable Trust. The percentage reported in this Schedule 13D is based on 372,018,894 shares of Common Stock of the Issuer outstanding as of March 20, 2026, as reported in the Definitive Proxy Statement on Form DEF 14A for the 2026 Annual Meeting, and filed by the Issuer with the Securities and Exchange Commission (the "SEC") on April 2, 2026.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.01 per share
(b)	Name of Issuer: JETBLUE AIRWAYS CORP
(c)	Address of Issuer's Principal Executive Offices: 27-01 QUEENS PLAZA NORTH, LONG ISLAND CITY, NEW YORK , 11101.
Item 1 Comment: This Amendment No. 1 amends the Schedule 13D filed on July 1, 2025 (the "Original Schedule 13D" and as amended the "Schedule 13D"). 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. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Original Schedule 13D.
Item 2.	Identity and Background
(a)	Vladimir Galkin
(b)	10900 NW 97th Street, #102 Miami, FL 33178
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 $225,793,084 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.
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.
Item 5.	Interest in Securities of the Issuer
(a)	(a) As of the date hereof, each of Vladimir Galkin and Angelica Galkin may be deemed to beneficially own, in the aggregate, 37,200,000 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 thousandth (3 decimals), the percentage amount is 9.999%.) This amount consists of (i) 2,000,000 shares of Common Stock held jointly by Vladimir Galkin and Angelica Galkin, husband and wife, representing approximately 0.5% of the outstanding shares of Common Stock of Issuer; (ii) 35,200,000 shares of Common Stock held by the Galkin Revocable Trust, representing approximately 9.5% of the outstanding shares of Common Stock of Issuer. The Galkin Revocable Trust directly beneficially owns 35,000,000 shares of Common Stock, representing 9.5% of the outstanding shares of Common Stock of Issuer. The foregoing beneficial ownership percentages reported in this Item 5 are based upon 372,018,894 shares of Common Stock of the Issuer outstanding as of March 20, 2026, as reported in the Definitive Proxy Statement on Form DEF 14A for the 2026 Annual Meeting, and filed by the Issuer with the Securities and Exchange Commission (the "SEC") on April 2, 2026.
(b)	(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)	(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 of shares of Common Stock effected in the open market, and the table includes commissions paid in per share prices.
(d)	(d) Not applicable.
(e)	(e) No person other than a Reporting Person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, Common Stock beneficially owned by the Reporting Persons.
Item 6.	Contracts, 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.
Item 7.	Material to be Filed as Exhibits.
	1. Schedule A 2. Joint Filing Agreement

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Galkin Vladimir

Signature:	Vladimir Galkin
Name/Title:	Individual
Date:	04/09/2026

Galkin Angelica

Signature:	Angelica Galkin
Name/Title:	Individual
Date:	04/09/2026

Angelica Galkin Revocable Trust

Signature:	Angelica Galkin
Name/Title:	Trustee
Date:	04/09/2026

FAQ

What stake in JetBlue (JBLU) do Vladimir and Angelica Galkin report?

They report beneficial ownership of 37,200,000 JetBlue common shares, representing about 10.0% of the company’s outstanding stock. This total includes 2,000,000 jointly owned shares and 35,200,000 shares held through the Angelica Galkin Revocable Trust.

How much did the Galkins pay for their JetBlue (JBLU) shares?

The filing states the Galkins paid approximately $225,793,084 to acquire the reported JetBlue common shares. Funding came from personal cash, the trust’s capital, and margin account borrowings in the ordinary course of business, with positions pledged as collateral.

How is the Galkins’ JetBlue (JBLU) ownership structured?

Their ownership consists of 2,000,000 shares of JetBlue common stock held jointly by Vladimir and Angelica Galkin and 35,200,000 shares held by the Angelica Galkin Revocable Trust, where Ms. Galkin is sole trustee and beneficiary with shared voting and dispositive power.

Do the Galkins plan an activist role at JetBlue (JBLU)?

They describe the stake as an investment but note discussions with JetBlue’s management and board about operational, strategic, financial, and governance matters. The filing also refers to conversations about potential board representation, while not detailing specific plans or proposals in this excerpt.

What percentage of JetBlue (JBLU) does the Galkin Revocable Trust hold?

The Angelica Galkin Revocable Trust beneficially owns 35,200,000 JetBlue common shares, described as about 9.5% of the outstanding stock. Both Vladimir and Angelica Galkin share voting and dispositive power over these trust-held shares under the reported arrangements.

What reference share count does the JetBlue (JBLU) 13D/A use?

Ownership percentages are calculated against 372,018,894 JetBlue common shares outstanding as of March 20, 2026. This reference share count comes from JetBlue’s Definitive Proxy Statement on Form DEF 14A for the 2026 Annual Meeting filed with the SEC.