Exhibit 12.1

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

				Year Ended December 31,
				2004			2003			2002			2001			2000
Earnings:
	Income before income taxes			$	76,822		$	175,439		$	95,024		$	41,915		$	(21,569	)
	Less: capitalized interest				(8,874	)		(5,203	)		(5,325	)		(8,043	)		(4,487	)
	Add:
		Fixed charges			113,229			78,829			53,126			39,329			17,978
		Amortization of capitalized interest			604			471			304			71			19
			Adjusted earnings	$	181,781		$	249,536		$	143,129		$	73,272		$	(8,059	)
Fixed charges:
	Interest expense			$	51,856		$	27,850		$	20,339		$	13,816		$	7,328
	Amortization of debt costs				1,622			1,047			670			316			67
	Rent expense representative of interest				59,751			49,932			32,117			25,197			10,583
		Total fixed charges		$	113,229		$	78,829		$	53,126		$	39,329		$	17,978
Ratio of earnings to fixed charges(1)					1.61			3.17			2.69			1.86			—

(1)

Earnings were inadequate to cover fixed charges by $26.0 million for the year ended December 31, 2000.