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 March 31, |
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2005 | |
2004 | |||||||
| Earnings: | |
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| Income before income taxes | |
$ | 10,914 | |
$ | 25,890 | ||||
| Less: Capitalized interest | |
(3,798 | ) | |
(1,576 | ) | ||||
| Add: | |
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| Fixed charges | |
36,319 | |
24,253 | ||||||
| Amortization of capitalized interest | |
181 | |
134 | ||||||
| Adjusted earnings | |
$ | 43,616 | |
$ | 48,701 | ||||
| Fixed charges: | |
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| Interest expense | |
$ | 20,094 | |
$ | 9,491 | ||||
| Amortization of debt costs | |
564 | |
330 | ||||||
| Rent expense representative of interest | |
15,661 | |
14,432 | ||||||
| Total fixed charges | |
$ | 36,319 | |
$ | 24,253 | ||||
| Ratio of earnings to fixed charges | |
1.20 | |
2.01 | ||||||
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