Exhibit 12.1
JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF
EARNINGS TO FIXED CHARGES
(in thousands, except
ratios)
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Three
Months Ended June 30 |
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Six Months Ended June 30 |
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2005 | |
2004 | |
2005 | |
2004 | |||||||||||
| Earnings: | |
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| Income before income taxes | |
$ | 22,668 | |
$ | 36,514 | |
$ | 34,474 | |
$ | 62,278 | ||||||
| Less: Capitalized interest | |
(3,871 | ) | |
(1,810 | ) | |
(7,669 | ) | |
(3,386 | ) | ||||||
| Add: | |
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| Fixed charges | |
41,498 | |
27,388 | |
77,314 | |
51,599 | ||||||||||
| Amortization of capitalized interest | |
193 | |
142 | |
374 | |
276 | ||||||||||
| Adjusted earnings | |
$ | 60,488 | |
$ | 62,234 | |
$ | 104,493 | |
$ | 110,767 | ||||||
| Fixed charges: | |
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| Interest expense | |
$ | 24,708 | |
$ | 12,165 | |
$ | 44,802 | |
$ | 21,656 | ||||||
| Amortization of debt costs | |
659 | |
354 | |
1,223 | |
684 | ||||||||||
| Rent expense representative of interest | |
16,131 | |
14,869 | |
31,289 | |
29,259 | ||||||||||
| Total fixed charges | |
$ | 41,498 | |
$ | 27,388 | |
$ | 77,314 | |
$ | 51,599 | ||||||
| Ratio of earnings to fixed charges | |
1.46 | |
2.27 | |
1.35 | |
2.15 | ||||||||||
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