=20 ---------------------------------------------------------------------- This article was sent to you by someone who found it on SF Gate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2002/10/09/f= inancial1916EDT0349.DTL ---------------------------------------------------------------------- Wednesday, October 9, 2002 (AP) JetBlue hits all-time low amid supply worries SONOKO SETAISHI, Dow Jones News Service (10-09) 16:16 PDT (AP) -- NEW YORK (Dow Jones/AP) -- Shares of JetBlue Airways Corp. plunged 16 percent to reach an all-time low Wednesday, as the airline sector skidded lower and the so-called post-IPO "lockup" period for the company's stock ended, freeing 33 million shares for potential sales. The shares closed down $5.62, or 16 percent, at $30.15. Earlier in the d= ay the shares traded as low as $30.09, below a previous all-time low of $34.64 reached Monday. Trading in the stock was heavy, with more than 7.4 million shares changi= ng hands, far outstripping the average daily turnover of 418,800 shares. The stock reached an all-time high of $55.15 on May 6. David Neeleman, chief executive of the fast-growing low-fare carrier, sa= id on Sept. 10 that the company had put on hold its plan for a secondary stock offering, citing insufficient demand among its venture-capital investors to sell their stakes. The Kew Gardens, N.Y., carrier Wednesday declined to comment on the prospects for a secondary offering. Following its phenomenally successful initial public stock offering in April, the JetBlue stock has declined due in part to worries that the fresh supply of shares from an additional offering would drive down the stock price. The lockup expiration gives original venture-capital supporters such as J.P. Morgan Chase & Co. and financier George Soros the opportunity to sell their stakes. Company insiders including Neeleman are also free to part with their holdings. JetBlue is one of the few airlines to remain profitable in the industry's worst crisis ever. The two-and-half-year-old company is expected to have earned 39 cents a share in the quarter ended Sept. 30, according to a survey of five analysts by Thomson First Call. =20 ---------------------------------------------------------------------- Copyright 2002 AP