8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

___________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): March 21, 2007

JETBLUE AIRWAYS CORPORATION

 (Exact name of registrant as specified in its charter)

Delaware	000-49728	87-0617894
(State of Other Jurisdiction of	(Commission	(I.R.S. Employer
Incorporation)	File Number)	Identification No.)

118-29 Queens Boulevard, Forest Hills, New York  11375

           (Address of principal executive offices)            (Zip Code)  

(718) 286-7900

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 7.01 Regulation FD Disclosure.

On March 21, 2007, we provided an update for investors presenting information relating to our financial outlook for the first quarter ending March 31, 2007 and full year 2007, and other information regarding our business.  The update is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01

Financial Statements and Exhibits

(d) Exhibits

Exhibit Number	Description
99.1	Investor Update dated March 21, 2007 of JetBlue Airways Corporation

 SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	JETBLUE AIRWAYS CORPORATION
	(Registrant)
Date: March 21, 2007	By:	/s/ HOLLY NELSON
		Senior Vice President and Controller (principal accounting officer)

EXHIBIT INDEX

Exhibit Number	Exhibit
99.1	Investor Update dated March 21, 2007 of JetBlue Airways Corporation

EX-99.1

JetBlue Airways Investor Relations

Cindy England

Lisa Studness

(203) 669-3191

ir@jetblue.com

Investor Update

March 21, 2007

This investor update provides selected investor guidance for the first quarter ending March 31, 2007 and full year 2007.

Operating Margin

(Estimated operating margin range)

	First Quarter 2007	Full Year 2007
Estimated Operating Margin Range	(4)-(2)%	7-9%

Income (Loss) Before Income Taxes

(Estimated pre-tax margin range)

	First Quarter 2007	Full Year 2007
Estimated Pre-tax Margin Range	(10)-(8)%	2-4%

Passenger Revenue per Available Seat Mile (PRASM)

(Year over year percentage improvement)

Estimated First Quarter 2007	7-9%
Estimated Full Year 2007	8-10%

The PRASM guidance in both the first quarter and full year includes the impact of the reduction in seats on our A320 aircraft from 156 to 150 seats per aircraft.  

Cost per Available Seat Mile (CASM) at Assumed Fuel Cost

(Estimated year over year percentage increases)

	First Quarter 2007	Full Year 2007
Estimated CASM	7-9%	7-9%

The CASM guidance in both the first quarter and full year includes the impact of the reduction in seats on our A320 aircraft from 156 to 150 seats per aircraft.

Cost per Available Seat Mile (CASM) Excluding Fuel

(Estimated year over year percentage increases)

	First Quarter 2007	Full Year 2007
Estimated Ex-fuel CASM	7-9%	7-9%

The Ex-fuel CASM guidance in both the first quarter and full year includes the impact of the reduction in seats on our A320 aircraft from 156 to 150 seats per aircraft.

Fuel Hedges

We continue to enter into advanced fuel derivative agreements to reduce our exposure to fluctuations in fuel price.  Currently, the agreements covering 2007 are:

	Gallons (Est. % of consumption)	Price
Q1 ‘07	72 million (70%)	22% in heat collars with the average cap at $2.35/gal and the average put at $1.95/gal 48% in heat swaps at an average of $1.78/gal
Q2 ‘07	73 million (64%)	11% in heat collars with the average cap at $2.33/gal and the average put at $1.95/gal 42% in heat swaps at an average of $1.73/gal 11% in crude collars with the average cap at  $74/bbl and the average put at $59/bbl
Q3 ‘07	41 million (35%)	24% in heat swaps at an average of $1.76/gal 11% in crude collars with the average cap at $74/bbl and the average put at $59/bbl
Q4 ‘07	29 million (25%)	25% in heat swaps at an average of $1.85/gal

	First Quarter 2007	Full Year 2007
Estimated Fuel Gallons Consumed	103 million	455 million
Estimated Average Fuel Price per Gallon, Net of Hedges	$1.90	$1.98

This investor update contains statements of a forward-looking nature which represent our management's beliefs and assumptions concerning future events. Forward-looking statements involve risks, uncertainties and assumptions, and are based on information currently available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many factors, including, without limitation, our extremely competitive industry; increases in fuel prices, maintenance costs and interest rates; our ability to implement our growth strategy, including the ability to operate reliably the EMBRAER 190 aircraft; our significant fixed obligations; our ability to attract and retain qualified personnel and maintain our culture as we grow; our reliance on high daily aircraft utilization; our dependence on the New York metropolitan market; our reliance on automated systems and technology; our being subject to potential unionization; our reliance on a limited number of suppliers; changes in or additional government regulation; changes in our industry due to other airlines' financial condition; and external geopolitical events and conditions. Further information concerning these and other factors is contained in the Company's Securities and Exchange Commission filings, including but not limited to, the Company's 2006 Annual Report on Form 10-K. We undertake no obligation to update any forward-looking statements to reflect events or circumstances that may arise after the date of this update.