EX-12.1 3 a04-4722_2ex12d1.htm EX-12.1

Exhibit 12.1

 

JETBLUE AIRWAYS CORPORATION

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

 

 

 

Three Months Ended
March 31,

 

 

 

2004

 

2003

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

Income before income taxes

 

$

25,764

 

$

30,052

 

Less: Capitalized interest

 

(1,576

)

(1,021

)

Add:

 

 

 

 

 

Fixed charges

 

24,211

 

17,291

 

Amortization of capitalized interest

 

134

 

112

 

Adjusted earnings

 

$

48,533

 

$

46,434

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

Interest expense

 

$

9,491

 

$

5,964

 

Amortization of debt costs

 

330

 

230

 

Rent expense representative of interest

 

14,390

 

11,097

 

Total fixed charges

 

$

24,211

 

$

17,291

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

2.00

 

2.69