SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
SOROS GEORGE
(Last) (First) (Middle)
888 SEVENTH AVE
33RD FLR
(Street)
NEW YORK NY 10106
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
JETBLUE AIRWAYS CORP [ JBLU ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
05/31/2007
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 05/24/2007 G V 4,488,160 D (1) 72,354 D
Common Stock 20,407,465(1)(2)(3) I See footnote(3)
Common Stock 05/31/2007 S 951,824(4) D $10.85 19,455,641(5) I See footnote(3)
Common Stock 05/31/2007 S 41,233(6) D $11 19,414,408(7) I See footnote(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Reflects a gift of 3,399,799 shares of the Issuer's common stock, $0.01 par value per share ("Shares"), as a charitable donation on behalf of the Reporting Person to the Open Society Institute, a New York charitable trust ("OSI"). The Reporting Person serves as a trustee of OSI. Reflects a gift of 1,088,361 Shares as a charitable donation to OSI on behalf of Geosor Corporation, a New York corporation ("Geosor"), of which the Reporting Person is the sole shareholder. These gifts were made for no consideration.
2. Includes 6,705,587 Shares held by Quantum Industrial Partners LDC, an exempted limited duration company formed under the laws of the Cayman Islands ("QIP"), 10,174,922 Shares held by OSI, 2,680,303 Shares held by Tivadar Holdings LLC, a Delaware limited liability company ("Tivadar"), and 846,653 Shares held by GS 1982 LLC, a Delaware limited liability company.
3. QIH Management Investor, L.P., an investment advisory firm organized as a Delaware limited partnership ("QIHMI"), is a minority shareholder of, and is vested with investment discretion with respect to portfolio assets held for the account of, QIP. The sole general partner of QIHMI is QIH Management LLC, a Delaware limited liability company ("QIH Management"). Soros Fund Management LLC, a Delaware limited liability company ("SFM"), is the sole managing member of QIH Management. SFM is the managing member of SFM AH LLC, a Delaware limited liability company, which is the general partner of SFM Participation, L.P., a Delaware limited partnership, which is the manager of each of Tivadar and GS 1982 LLC. The Reporting Person is the Chairman of SFM and may be deemed to have voting and dispositive power over the Shares held for the account of QIP, Tivadar, and GS 1982 LLC. The Reporting Person serves as a trustee of OSI.
4. Reflects a sale of 312,755 Shares held by QIP, 474,568 Shares held by OSI, 125,012 Shares held by Tivadar, and 39,489 Shares held by GS 1982 LLC.
5. Includes 6,392,832 Shares held by QIP, 9,700,354 Shares held by OSI, 2,555,291 Shares held by Tivadar, and 807,164 Shares held by GS 1982 LLC.
6. Reflects a sale of 13,549 Shares held by QIP, 20,559 Shares held by OSI, 5,415 Shares held by Tivadar, and 1,710 Shares held by GS 1982 LLC.
7. Includes 6,379,283 Shares held by QIP, 9,679,795 Shares held by OSI, 2,549,876 Shares held by Tivadar, and 805,454 Shares held by GS 1982 LLC.
/s/ Jay Schoenfarber, Attorney-in-Fact 06/04/2007
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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