07:01 AM EDT, 06/26/2025 (MT Newswires) -- JetBlue Airways ( JBLU ) investor Vladimir Galkin is considering selling his nearly 10% stake in the airline if cost-cutting and turnaround efforts don't improve performance, Reuters reported Thursday.

The report said JetBlue ( JBLU ) has been struggling with weakened travel demand and withdrew its 2025 forecast, noting that it may not break even.

"I am underwater a little bit and just going to have to hold on to it. I don't want to say for as long as it takes, obviously, but maybe for another year," Galkin told Reuters.

Galkin, whose stake is worth $212 million, told Reuters that the company's new JetForward cost-cutting plan is a "positive step" but said the coming quarters will reveal if it's effective.

The report added that Galkin is hopeful JetBlue ( JBLU ) will return to profitability soon and believes Wall Street is overlooking the potential of its 2027 partnership with United Airlines.

JetBlue Airways ( JBLU ) did not immediately respond to MT Newswires' request for comment.

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