EX-12.1 3 y01986exv12w1.htm EX-12.1 exv12w1
Exhibit 12.1
JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)
                                 
    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2009     2008     2009     2008  
 
                               
Earnings:
                               
Income (loss) before income taxes
  $ 36     $ (13 )   $ 56     $ (29 )
Less: capitalized interest
    (2 )     (14 )     (4 )     (28 )
Add:
                               
Fixed charges
    76       84       152       172  
Amortization of capitalized interest
    1       1       1       1  
 
                       
Adjusted earnings
  $ 111     $ 58     $ 205     $ 116  
 
                       
 
                               
Fixed charges:
                               
Interest expense
  $ 47     $ 55     $ 94     $ 112  
Amortization of debt costs
    2       1       4       3  
Rent expense representative of interest
    27       28       54       57  
 
                       
Total fixed charges
  $ 76     $ 84     $ 152     $ 172  
 
                       
 
                               
Ratio of earnings to fixed charges (1)
    1.46             1.35        
 
                       
 
(1)   Earnings were inadequate to cover fixed charges by $26 and $56 million for the three and six months ended June 30, 2008, respectively.