EX-12.1 5 y00353exv12w1.htm EX-12.1: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES EX-12.1
Exhibit 12.1
JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
                                 
    Three Months Ended     Nine Months Ended  
    September 30,     September 30,  
    2008     2007     2008     2007  
Earnings:
                                
Income (loss) before income taxes
   $ (4 )   $ 46     $ (27 )   $ 44  
Less: capitalized interest
     (15 )     (11 )     (43 )     (30 )
Add: fixed charges
     93       86       259       246  
Amortization of capitalized interest
     1       1       1       1  
 
                        
Adjusted earnings
   $ 75     $ 122     $ 190     $ 261  
 
                        
 
                                
Fixed charges:
                                
Interest expense
   $ 57     $ 57     $ 163     $ 162  
Amortization of debt costs
     7       1       10       4  
Rent expense representative of interest
     29       28       86       80  
 
                        
Total fixed charges
   $ 93     $ 86     $ 259     $ 246  
 
                        
 
                                
Ratio of earnings to fixed charges (1)
     —       1.41       —       1.06  
 
                        
 
(1)   Earnings were inadequate to cover fixed charges by $18 million and $69 million for the three months and the nine months ended September 30, 2008, respectively.