If I were an investment tycoon like Icahn, my goals would shift away from just making money, to making money in large chunks by discovering and predicting the next big thing in various industries, thereby establishing my 'street creds' as an investor. I'd view this near economic collapse as my own chance to be what Warren Buffett was to previous crises.
Maybe he just sees a lot of potential in this company, once it gets its financials straight, and wants to help it to do that, so that he can both cash in on the value of his shares, and get credit for discovering/recognizing the true merits of this company.