Earlier this week, billionaire Carl Icahn disclosed a 9.9% stake in JetBlue Airways Corp. The owner of Icahn Enterprises had collected the stocks through a series of purchases over January and February of this year. As a result of the disclosure, JetBlue’s stock price rose by 21%.
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As most of our viewers will already know, Gulf carriers like Emirates, Qatar Airways, and Etihad, have a business model based on connecting traffic and getting travelers through their hubs rather than mainly serving those cities. Yes, there have been pushes to increase tourism and commerce in cities like Doha, Dubai, and Abu Dhabi, but connecting traffic remains the largest part of Gulf airline business models.But unfortunately for these carriers, it continues to be an uncertain situation as their operations have been impacted by the war in the region. Unable to conduct ‘business as usual’, one airport is offering itself as a solution.