Valujet Founder Sells His Stock

A ValuJet founder and board member sold 1.5 million shares of the airline’s stock, which has fallen sharply since one of its planes crashed in the Florida Everglades.

ValuJet announced Tuesday that Timothy P. Flynn, one of four founders of the Atlanta-based discount carrier, sold the shares Monday.

ValuJet stock closed Monday at $11.25 per share, down 37 percent from $17.88 on May 10, the day before the crash.

The 1.5 million shares represent a about a quarter of Flynn’s holding in the company.

Despite the airline’s recent troubles, the sale of the 1.5 million shares represents a tidy profit for Flynn, who paid $1 million for the shares to help start the company in 1992. At Monday’s closing price, the shares were worth about $16.9 million.