JetBlue Investor Corrects Stake in Airline to 11.5%

By Dow Jones/Associated Press

WASHINGTON — Billionaire investor George Soros on Wednesday reported an 11.5 percent stake in JetBlue Airways Corp., correcting a previous filing that put the stake at 9.5 percent.

According to a Securities and Exchange Commission filing, Soros beneficially owns about 20.5 million shares of the low-fare airline based in New York. On April 2, JetBlue reported in a proxy statement to the SEC that Soros held 16.9 million shares, for a 9.5 percent stake.

The April 2 proxy inadvertently omitted shares owned since April 2006 by two Soros subsidiaries, the filing said.

In January, JetBlue posted fourth-quarter net income of $17 million, or 10 cents a share, up from a loss of $42 million, or 25 cents a share, a year earlier, as strong passenger traffic helped offset the impact of high fuel costs. The airline, however, has cut its outlook for 2007 profits because of service disruptions caused by winter storms, although it expects strong earnings growth ahead.

Soros reported his stake in a Schedule 13G, an SEC document for passive investors — those not seeking to change or influence a company’s operations. Such filers aren’t required to provide a reason for any changes in stake and don’t have to disclose any transactions to the SEC.

JetBlue shares rose 31 cents, or 2.8 percent, to close Wednesday at $11.53 on the Nasdaq Stock Market.

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