Vladimir and Angelica Galkin (NASDAQ: JBLU) disclose 37.2M-share stake

Rhea-AI Filing Summary

Vladimir and Angelica Galkin have filed Amendment No. 2 to a Schedule 13D reporting a large passive stake in JetBlue Airways Corporation. Together with the Angelica Galkin Revocable Trust, they beneficially own 37,200,000 shares of JetBlue common stock, or about 10.0% of the outstanding shares.

The filing explains that the position was acquired for investment in the ordinary course of business, funded with personal and trust cash plus margin borrowings, at an aggregate cost of approximately $225.8 million. The Galkins state they now intend to hold the shares as passive investors and no longer seek to change or influence control of JetBlue, though they may still have routine, non-control-related communications with management and the board.

Key Figures

Beneficial ownership: 37,200,000 shares Ownership percentage: 10.0% of class Jointly held shares: 2,000,000 shares +3 more

6 metrics

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

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

Jointly held shares 2,000,000 shares JetBlue shares jointly owned by Vladimir and Angelica Galkin, about 0.5% of outstanding shares

Trust holdings 35,200,000 shares JetBlue shares held by the Angelica Galkin Revocable Trust, about 9.5% of outstanding shares

Acquisition cost $225,793,084 Approximate total paid to acquire the reported JetBlue common shares

JetBlue shares outstanding 372,018,894 shares JetBlue common shares outstanding used to calculate ownership percentages

Key Terms

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

6 terms

Schedule 13D regulatory

"This Amendment No. 2 amends the filed on July 1, 2025 (the "Original Schedule")"

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"

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"

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.

passive investors financial

"The Reporting Persons intend to hold these securities as passive investors."

Revocable Trust financial

"Angelica Galkin Revocable Trust, dated April 21, 2018 ("Galkin Revocable Trust")"

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.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)

JETBLUE AIRWAYS CORPORATION

(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)

05/03/2026

(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 31, 2026, as reported in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed by the Issuer with the Securities and Exchange Commission (the "SEC") on April 28, 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 31, 2026, as reported in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed by the Issuer with the Securities and Exchange Commission (the "SEC") on April 28, 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. (3) The percentage reported in this Schedule 13D is based on 372,018,894 shares of Common Stock of the Issuer outstanding as of March 31, 2026, as reported in the Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed by the Issuer with the Securities and Exchange Commission (the "SEC") on April 28, 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 CORPORATION
(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. 2 amends the Schedule 13D filed on July 1, 2025 (the "Original Schedule"), and as amended by Amendment No. 1 to Schedule 13D filed on April 23, 2026, 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 intend to hold these securities as passive investors. The Reporting Persons no longer holds the securities with any purpose or effect of changing or influencing control of the Issuer. The Reporting Persons may communicate with the management and board of directors of the Issuer (the Board) from time to time, however, such communications will be solely limited to routine, non-control related subject matters. 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, 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:	05/05/2026

Galkin Angelica

Signature:	Angelica Galkin
Name/Title:	Individual
Date:	05/05/2026

Angelica Galkin Revocable Trust

Signature:	Angelica Galkin
Name/Title:	Trustee
Date:	05/05/2026

FAQ

How much of JetBlue (JBLU) do Vladimir and Angelica Galkin beneficially own?

Vladimir and Angelica Galkin beneficially own 37,200,000 shares of JetBlue common stock, representing approximately 10.0% of the company’s outstanding shares. This includes jointly held stock and shares held through the Angelica Galkin Revocable Trust.

How is the Galkins’ JetBlue (JBLU) stake structured between them and the trust?

The reported stake includes 2,000,000 JetBlue shares jointly owned by Vladimir and Angelica Galkin and 35,200,000 shares held by the Angelica Galkin Revocable Trust. Angelica is the sole trustee and beneficiary of this trust, and both Galkins share voting and dispositive power over its shares.

What did the Galkins pay to acquire their JetBlue (JBLU) shares?

The Galkins report paying a total of approximately $225,793,084 to acquire the JetBlue common shares covered by this filing. The purchases were funded with personal and trust cash, along with margin borrowings in the ordinary course of business, secured by securities in their margin accounts.

Are the Galkins active or passive investors in JetBlue (JBLU) now?

The filing states the Galkins now hold their JetBlue shares as passive investors, acquired for investment in the ordinary course of business. They indicate they no longer hold the securities with any purpose or effect of changing or influencing control of JetBlue Airways Corporation.

Can the Galkins increase or decrease their JetBlue (JBLU) position in the future?

The Galkins reserve the right to acquire additional JetBlue securities or dispose of existing holdings at any time. They note such decisions will depend on their general investment and trading policies, overall market conditions, and other factors they deem relevant.

How many JetBlue (JBLU) shares were outstanding when the Galkins’ ownership percentage was calculated?

Their ownership percentages are based on 372,018,894 JetBlue common shares outstanding. This figure comes from JetBlue’s SEC filings, including its Definitive Proxy Statement and Quarterly Report, and is used to compute the approximately 10.0% beneficial ownership reported.