<SUBMISSION>
<ACCESSION-NUMBER>0001179110-03-012435
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20031210
<FILING-DATE>20031212
<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>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>NELSON HOLLY
<CIK>0001207012
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-49728
<FILM-NUMBER>031050723
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>80-02 KEW GARDENS ROAD
<CITY>KEW GARDENS
<STATE>NY
<ZIP>11415
<PHONE>2036567604
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>80-02 KEW GARDENS ROAD
<CITY>KEW GARDENS
<STATE>NY
<ZIP>11415
</MAIL-ADDRESS>
</REPORTING-OWNER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-12-10</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001158463</issuerCik>
        <issuerName>JETBLUE AIRWAYS CORP</issuerName>
        <issuerTradingSymbol>JBLU</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001207012</rptOwnerCik>
            <rptOwnerName>NELSON HOLLY</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> Vice President and Controller</officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Common Stock</value>
</securityTitle>
<transactionDate><value>2003-12-10</value>
</transactionDate>
<deemedExecutionDate><value>2003-12-10</value>
</deemedExecutionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>M</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
<footnoteId id="F1"></footnoteId>
</transactionCoding>
<transactionAmounts><transactionShares><value>1125</value>
</transactionShares>
<transactionPricePerShare><value>1.58</value>
<footnoteId id="F2"></footnoteId>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>5458</value>
<footnoteId id="F3"></footnoteId>
<footnoteId id="F4"></footnoteId>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
<nonDerivativeTransaction><securityTitle><value>Common Stock</value>
</securityTitle>
<transactionDate><value>2003-12-10</value>
</transactionDate>
<deemedExecutionDate><value>2003-12-10</value>
</deemedExecutionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>S</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
<footnoteId id="F5"></footnoteId>
</transactionCoding>
<transactionAmounts><transactionShares><value>1125</value>
</transactionShares>
<transactionPricePerShare><value>26.91</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>4333</value>
<footnoteId id="F4"></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>1.58</value>
</conversionOrExercisePrice>
<transactionDate><value>2003-12-10</value>
</transactionDate>
<deemedExecutionDate><value>2003-12-10</value>
</deemedExecutionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>M</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
<footnoteId id="F1"></footnoteId>
</transactionCoding>
<transactionAmounts><transactionShares><value>1125</value>
</transactionShares>
<transactionPricePerShare><value>0</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate><value>2002-02-26</value>
<footnoteId id="F6"></footnoteId>
</exerciseDate>
<expirationDate><value>2011-02-28</value>
</expirationDate>
<underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value>
</underlyingSecurityTitle>
<underlyingSecurityShares><value>1125</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>57750</value>
<footnoteId id="F7"></footnoteId>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</derivativeTransaction>
</derivativeTable>
<footnotes><footnote id="F1">These options were exercised in compliance with a qualified selling plan adopted by the reporting person pursuant to Rule 10b5-1 promulgated under the Securities and Exchange Act of 1934, as amended.</footnote>
<footnote id="F2">The exercise price was adjusted to reflect the issuer's 3-for-2 stock split effected on November 20, 2003.</footnote>
<footnote id="F3">On November 20, 2003, the issuer effected a 3-for-2 stock split, resulting in an additional 1,444 shares of common stock before acquisition of the 1,125 shares subject to this Form 4.</footnote>
<footnote id="F4">Excludes 802 shares held indirectly by the Erin Lou Nelson Children's Trust and 802 shares held indirectly by the Adam Lee Nelson Children's Trust, as adjusted to give effect to issuer's 3-for-2 stock split on November 20, 2003.  The reporting person is the trustee of such trusts.</footnote>
<footnote id="F5">These shares were sold in compliance with a qualified selling plan adopted by the reporting person pursuant to Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended.</footnote>
<footnote id="F6">The initial option grant of 67,500, as adjusted, vests in five successive equal annual installments upon completion of each year of service over the 5-year period measured from the vesting commencement date of February 26, 2001.</footnote>
<footnote id="F7">On November 20, 2003, the issuer effected a 3-for-2 stock split, resulting in an additional 19,625 shares underlying the employee stock option. </footnote>
</footnotes>
<ownerSignature><signatureName>Holly Nelson</signatureName>
<signatureDate>2003-12-10</signatureDate>
</ownerSignature>
</ownershipDocument>

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