SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* QUANTUM INDUSTRIAL PARTNERS LDC ET AL (Last) (First) (Middle) KAYA FLAMBOYAN 9 WILLEMSTAD, CURACAO (Street) NETHERLANDS ANTILLES (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol JETBLUE AIRWAYS CORP [ JBLU ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 12/10/2004
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/10/2004		S		5,268	D	$24.06	11,252,490(1)	D
Common Stock	12/10/2004		S		3,134	D	$24.0647	11,249,356(1)	D
Common Stock	12/10/2004		S		3,334	D	$24.0698	11,246,022(1)	D
Common Stock	12/10/2004		S		1,200	D	$24.07	11,244,822(1)	D
Common Stock	12/10/2004		S		1,867	D	$24.0707	11,242,955(1)	D
Common Stock	12/10/2004		S		1,200	D	$24.0711	11,241,755(1)	D
Common Stock	12/10/2004		S		1,801	D	$24.1	11,239,954(1)	D
Common Stock	12/10/2004		S		3,334	D	$24.1095	11,236,620(1)	D
Common Stock	12/10/2004		S		1,867	D	$24.1104	11,234,753(1)	D
Common Stock	12/10/2004		S		3,334	D	$24.1178	11,231,419(1)	D
Common Stock	12/10/2004		S		1,067	D	$24.1194	11,230,352(1)	D
Common Stock	12/10/2004		S		1,467	D	$24.1232	11,228,885(1)	D
Common Stock	12/10/2004		S		17,372	D	$24.2	11,211,513(1)	D
Common Stock	12/10/2004		S		2,468	D	$24.2022	11,209,045(1)	D
Common Stock	12/10/2004		S		3,101	D	$24.21	11,205,944(1)	D
Common Stock	12/10/2004		S		1,267	D	$24.2116	11,204,677(1)	D
Common Stock	12/10/2004		S		867	D	$24.22	11,203,810(1)	D
Common Stock	12/10/2004		S		1,262	D	$24.2309	11,202,548(1)	D
Common Stock	12/10/2004		S		1,067	D	$24.235	11,201,481(1)	D
Common Stock	12/10/2004		S		738	D	$24.24	11,200,743(1)	D
Common Stock	12/10/2004		S		934	D	$24.2536	11,199,809(1)	D
Common Stock	12/10/2004		S		3,554	D	$24.26	11,196,255(1)	D
Common Stock	12/10/2004		S		2,714	D	$24.2611	11,193,541(1)	D
Common Stock	12/10/2004		S		67	D	$24.27	11,193,474(1)	D
Common Stock	12/10/2004		S		534	D	$24.2725	11,192,940(1)	D
Common Stock	12/10/2004		S		1,667	D	$24.2748	11,191,273(1)	D
Common Stock	12/10/2004		S		2,201	D	$24.2755	11,189,072(1)	D
Common Stock	12/10/2004		S		800	D	$24.2917	11,188,272(1)	D
Common Stock	12/10/2004		S		11,870	D	$24.3	11,176,402(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* QUANTUM INDUSTRIAL PARTNERS LDC ET AL (Last) (First) (Middle) KAYA FLAMBOYAN 9 WILLEMSTAD, CURACAO (Street) NETHERLANDS ANTILLES (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* QIH MANAGEMENT INVESTOR LP (Last) (First) (Middle) 888 SEVENTH AVENUE 33RD FLOOR (Street) NEW YORK NY 10106 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* QIH MANAGEMENT LLC (Last) (First) (Middle) 888 SEVENTH AVENUE 33RD FLOOR (Street) NEW YORK NY 10106 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* SOROS FUND MANAGEMENT LLC (Last) (First) (Middle) 888 SEVENTH AVENUE 33RD FLOOR (Street) NEW YORK NY 10106 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. Quantum Industrial Partners LDC is an exempted limited duration company formed under the laws of the Cayman Islands ("QIP"). QIH Management Investor, L.P., an investment advisory firm organized as a Delaware limited partnership ("QIHMI"), is a minority shareholder of, and is vested with investment discretion with respect to portfolio assets held for the account of, QIP. The sole general partner of QIHMI is QIH Management LLC, a Delaware limited liability company ("QIH Management"). Soros Fund Management LLC, a Delaware limited liability company ("SFM"), is the sole managing member of QIH Management.

Remarks:

The filing of this statement shall not be deemed an admission that any of the Reporting Persons is the beneficial owner of any securities not held directly for its account for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise.

	John F. Brown, as Attorney-in-Fact for Quantum Industrial Partners LDC	12/13/2004
	John F. Brown, as Assistant General Counsel of Soros Fund Management LLC, which is the Managing Member of QIH Management LLC, which is the General Partner of QIH Management Investor, L.P.	12/13/2004
	John F. Brown, as Assistant General Counsel of Soros Fund Management LLC, which is the Managing Member of QIH Management LLC	12/13/2004
	John F. Brown, as Assistant General Counsel of Soros Fund Management LLC	12/13/2004
	** Signature of Reporting Person	Date
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* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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