Once again, Carl Icahn, infamous investor and former special advisor to President Donald Trump, has owned a substantial stake in JFK Terminal 5.
Details about the exact nature of the stake are not currently available, but it is believed to be substantial enough to influence decisions concerning the terminal’s operations. Icahn is known for his strategic investments and knack for business turnarounds. However, the lounges of JFK Terminal 5 are home to JetBlue, and one could only hope that things work out better for JetBlue than they did for TWA.
For those who may not recall, Icahn acquired TWA in the 1980s and within a few years, the once-prominent airline declared bankruptcy.
Above the Law, who first reported on Icahn’s recent JFK Terminal 5 stake, describes the situation and his past record delicately: Let’s hope things work out better for JetBlue than they did for TWA.
In the coming months, it will be interesting to see how Icahn’s presence impacts corporate decisions involving JFK Terminal 5. Expectations are tempered by Icahn’s history with TWA, however, as industry insiders eagerly await the unfolding developments.