EX-12.1 3 y04224exv12w1.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,
    2010   2009   2008   2007   2006
Earnings:
                                        
Income (loss) before income taxes
   $ 161     $ 104     $ (89 )   $ 31     $ (1 )
Less: capitalized interest
     (4 )     (7 )     (48 )     (43 )     (27 )
Add:
                                       
Fixed charges
     272       298       357       343       274  
Amortization of capitalized interest
     2       2       2       1       1  
 
                              
Total earnings
   $ 431     $ 397     $ 222     $ 332     $ 247  
 
                              
Fixed charges:
                                        
Interest expense
   $ 172     $ 189     $ 228     $ 230     $ 178  
Amortization of debt costs
     8       9       17       6       6  
Rent expense representative of interest
     92       100       112       107       90  
 
                              
Total fixed charges
   $ 272     $ 298     $ 357     $ 343     $ 274  
 
                              
Ratio of earnings to fixed charges (1)
     1.59       1.33       —       —       —  
 
                              
 
(1)   Earnings were inadequate to cover fixed charges by $135 million, $11 million, and $27 million for the years ended December 31, 2008, 2007, and 2006, respectively.