EXHIBIT 12.1
JETBLUE AIRWAYSCORPORATION
COMPUTATION OF RATIO OF
EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
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Three
Months Ended September 30 |
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Nine Months
Ended September 30 |
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2005 | |
2004 | |
2005 | |
2004 | |||||||||||
| Earnings: | |
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| Income before income taxes | |
$ | (3,697 | ) | |
$ | 13,298 | |
$ | 31,326 | |
$ | 75,473 | |||||
| Less: Capitalized interest | |
(3,855 | ) | |
(2,477 | ) | |
(11,524 | ) | |
(5,863 | ) | ||||||
| Add: | |
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| Fixed charges | |
43,984 | |
29,505 | |
120,801 | |
81,184 | ||||||||||
| Amortization of capitalized interest | |
211 | |
152 | |
585 | |
428 | ||||||||||
| Adjusted earnings | |
$ | 36,643 | |
$ | 40,478 | |
$ | 141,188 | |
$ | 151,222 | ||||||
| Fixed charges: | |
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| Interest expense | |
$ | 27,639 | |
$ | 13,748 | |
$ | 72,441 | |
$ | 35,404 | ||||||
| Amortization of debt costs | |
722 | |
424 | |
1,945 | |
1,108 | ||||||||||
| Rent expense representative of interest | |
15,623 | |
15,333 | |
46,415 | |
44,672 | ||||||||||
| Total fixed charges | |
$ | 43,984 | |
$ | 29,505 | |
$ | 120,801 | |
$ | 81,184 | ||||||
| Ratio of earnings to fixed charges | |
0.83 | |
1.37 | |
1.17 | |
1.86 | ||||||||||
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