JetBlue shares fall 15 pct as lock-up period ends

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JetBlue shares fall 15 pct as lock-up period ends  =

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Wednesday October 9, 4:08 PM EDT =


NEW YORK, Oct 9 (Reuters) - Shares in JetBlue Airways Corp (JBLU) fell ov=
er 15 percent amid a surge in trading as the so called lock-up period end=
ed, allowing early shareholders to sell the stock.

The stock fell $5.62, or 15.7 percent, to $30.15 in heavy Wednesday trade=
, the lowest since it was priced at $27 last April 11 and surged by more =
than 50 percent in its trading debut.

Termination of the six-month lockup following airline's initial public of=
fering frees venture capital backers and other early stage investors to s=
ell close to 33 million shares, almost five times what was sold in the IP=
O.

Venture capital investors like J.P. Morgan New Air Investors LLC, Soros' =
Quantum Industrial Partners LDC, and BancBoston Ventures Inc. acquired mo=
re than half of the company's stock in late 1998 at $5.27 per share.

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JetBlue spokesperson Amy Carpi wouldn't comment on whether backers like J=
=2EP. Morgan Chase & Co (JPM) and financier George Soros sold their stock=
=2E

About 7.5 million JetBlue shares were traded on the Nasdaq stock market, =
over twelve times the stock's average daily trading volume over the last =
30 days.

Other U.S. carriers also saw big losses in heavy trading on Wednesday. Un=
ited (UAL) shed 10.1 percent to close at $1.87 a share, Continental Airli=
nes (CAL) slid nearly 18 percent to $3.65 and Northwest Airlines (NWAC) f=
ell 9.8 percent to $5.14. American Airlines (AMR) dropped 15.3 percent to=
 $3.32 and Delta Air Lines (DAL) ended off 12 percent at $6.50. =



=A92002 Reuters Limited. =


Roger
EWROPS

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