<SUBMISSION>
<ACCESSION-NUMBER>0001179110-03-010603
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20031112
<FILING-DATE>20031112
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>CLAYDON TIMOTHY
<CIK>0001265145
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-49728
<FILM-NUMBER>03995296
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>C/O JETBLUE AIRWAYS CORP
<STREET2>118-29 QUEENS BLVD
<CITY>FOREST HILLS
<STATE>NY
<ZIP>11375
<PHONE>7187093050
</BUSINESS-ADDRESS>
</REPORTING-OWNER>
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>JETBLUE AIRWAYS CORP
<CIK>0001158463
<ASSIGNED-SIC>4512
<IRS-NUMBER>870617894
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>118-29 QUEENS BOULEVARD
<CITY>FOREST HILLS
<STATE>NY
<ZIP>11375
<PHONE>7182867900
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>118-29 QUEENS BOULEVARD
<CITY>FOREST HILLS
<STATE>NY
<ZIP>11375
</MAIL-ADDRESS>
</ISSUER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-11-12</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001158463</issuerCik>
        <issuerName>JETBLUE AIRWAYS CORP</issuerName>
        <issuerTradingSymbol>JBLU</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001265145</rptOwnerCik>
            <rptOwnerName>CLAYDON TIMOTHY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>JETBLUE AIRWAYS CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>118-29 QUEENS BOULEVARD</rptOwnerStreet2>
            <rptOwnerCity>FOREST HILLS</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>11375</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>0</isDirector>
<isOfficer>1</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle>Senior Vice President</officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value>
</securityTitle>
<transactionDate><value>2003-11-12</value>
</transactionDate>
<deemedExecutionDate><value>2003-11-12</value>
</deemedExecutionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>M</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>750</value>
</transactionShares>
<transactionPricePerShare><value>2.37</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>8070</value>
<footnoteId id="F1"></footnoteId>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
<nonDerivativeTransaction><securityTitle><value>Common Stock</value>
</securityTitle>
<transactionDate><value>2003-11-12</value>
</transactionDate>
<deemedExecutionDate><value>2003-11-12</value>
</deemedExecutionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>S</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>750</value>
</transactionShares>
<transactionPricePerShare><value>53.10</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>7320</value>
<footnoteId id="F1"></footnoteId>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
</nonDerivativeTable>
<derivativeTable><derivativeTransaction><securityTitle><value>Stock Option (Right to Purchase)</value>
</securityTitle>
<conversionOrExercisePrice><value>2.37</value>
</conversionOrExercisePrice>
<transactionDate><value>2003-11-12</value>
</transactionDate>
<deemedExecutionDate><value>2003-11-12</value>
</deemedExecutionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>M</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>750</value>
</transactionShares>
<transactionPricePerShare><value>0</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>2002-02-19</value>
<footnoteId id="F2"></footnoteId>
</exerciseDate>
<expirationDate><value>2011-02-28</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>750</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>27750</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
</derivativeTable>
<footnotes><footnote id="F1">Includes 276 shares acquired on October 31, 2003 through participation in issuer's crewmember stock purchase plan in an exempt transaction under Section 16(b) of the Securities Exchange Act of 1934, as amended.</footnote>
<footnote id="F2">The initial option grant of 45,000 vests in equal annual installments over a five year period measured from the vesting commencement date of February 19, 2001.  </footnote>
</footnotes>
<ownerSignature><signatureName>Timothy Claydon</signatureName>
<signatureDate>2003-11-12</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
