EX-12.1 3 file3.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHANGES

Exhibit 12.1

JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)


  Three Months Ended
September 30,		 Nine Months Ended
September 30,
  2006 2005 2006 2005
Earnings:  
 
 
 
Income (loss) before income taxes $ 1
$ (4
)
 $ (21
)
 $ 31
Less: capitalized interest (7
)
 (3
)
 (19
)
 (11
)
Add: Fixed charges 69
43
190
121
Adjusted earnings $ 63
$ 36
$ 150
$ 141
Fixed charges:  
 
 
 
Interest expense $ 44
$ 27
$ 121
$ 72
Amortization of debt costs 1
1
3
2
Rent expense representative of interest 24
15
66
47
Total fixed charges $ 69
$ 43
$ 190
$ 121
Ratio of earnings to fixed charges(1) —
—
—
1.17
(1) Earnings were inadequate to cover fixed charges by $6 million and $40 million for the three and nine months ended September 30, 2006, respectively. They were also inadequate to cover fixed charges by $7 million for the three months ended September 30, 2005.