EX-12.1 2 a04-11378_3ex12d1.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
September 30,

 

Nine Months Ended
September 30,

 

 

 

2004

 

2003

 

2004

 

2003

 

 

 

 

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

 

 

 

 

Income before income taxes

 

$

13,810

 

$

49,417

 

$

76,088

 

$

144,920

 

Less: Capitalized interest

 

(2,477

)

(1,405

)

(5,863

)

(3,647

)

Add:

 

 

 

 

 

 

 

 

 

Fixed charges

 

29,468

 

21,192

 

81,067

 

56,671

 

Amortization of capitalized interest

 

152

 

119

 

428

 

344

 

Adjusted earnings

 

$

40,953

 

$

69,323

 

$

151,720

 

$

198,288

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

Interest expense

 

$

13,748

 

$

7,628

 

$

35,404

 

$

19,386

 

Amortization of debt costs

 

424

 

229

 

1,108

 

688

 

Rent expense representative of interest

 

15,296

 

13,335

 

44,555

 

36,597

 

Total fixed charges

 

$

29,468

 

$

21,192

 

$

81,067

 

$

56,671

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

1.39

 

3.27

 

1.87

 

3.50

 

 

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