EX-12.1 2 a05-7046_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,

 

 

 

2005

 

2004

 

 

 

 

 

 

 

Earnings:

 

 

 

 

 

Income before income taxes

 

$

11,806

 

$

25,764

 

Less: Capitalized interest

 

(3,798

)

(1,576

)

Add:

 

 

 

 

 

Fixed charges

 

36,321

 

24,211

 

Amortization of capitalized interest

 

181

 

134

 

Adjusted earnings

 

$

44,510

 

$

48,533

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

Interest expense

 

$

20,094

 

$

9,491

 

Amortization of debt costs

 

564

 

330

 

Rent expense representative of interest

 

15,663

 

14,390

 

Total fixed charges

 

$

36,321

 

$

24,211

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

1.23

 

2.00

 

 

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