EX-12.1 7 y02987exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
                                         
    Year Ended December 31,  
    2009     2008     2007     2006     2005  
Earnings:
                                        
Income (loss) before income taxes
   $ 99     $ (90 )   $ 31     $ (1 )   $ (31 )
Less: capitalized interest
     (7 )     (48 )     (43 )     (27 )     (16 )
Add:
                                        
Fixed charges
     297       354       342       273       179  
Amortization of capitalized interest
     2       2       1       1       1  
 
                              
Total earnings
   $ 391     $ 218     $ 331     $ 246     $ 133  
 
                              
Fixed charges:
                                        
Interest expense
   $ 190     $ 228     $ 230     $ 178     $ 111  
Amortization of debt costs
     7       14       5       5       3  
Rent expense representative of interest
     100       112       107       90       65  
 
                              
Total fixed charges
   $ 297     $ 354     $ 342     $ 273     $ 179  
 
                              
Ratio of earnings to fixed charges (1)
     1.32       —       —       —       —  
 
                              
 
(1)   Earnings were inadequate to cover fixed charges by $136 million, $11 million, $27 million, and $46 million for the years ended December 31, 2008, 2007, 2006 and 2005, respectively.