EX-12.1 8 a04-8159_1ex12d1.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
June 30,

 

Six Months Ended
June 30,

 

 

 

2004

 

2003

 

2004

 

2003

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

36,514

 

$

65,451

 

$

62,278

 

$

95,503

 

Less: Capitalized interest

 

(1,810

)

(1,221

)

(3,386

)

(2,242

)

Add:

 

 

 

 

 

 

 

 

 

Fixed charges

 

27,388

 

18,188

 

51,599

 

35,479

 

Amortization of capitalized interest

 

142

 

113

 

276

 

225

 

Adjusted earnings

 

$

62,234

 

$

82,531

 

$

110,767

 

$

128,965

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

Interest expense

 

$

12,165

 

$

5,794

 

$

21,656

 

$

11,758

 

Amortization of debt costs

 

354

 

229

 

684

 

459

 

Rent expense representative of interest

 

14,869

 

12,165

 

29,259

 

23,262

 

Total fixed charges

 

$

27,388

 

$

18,188

 

$

51,599

 

$

35,479

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

2.27

 

4.54

 

2.15

 

3.64

 

 

1