Exhibit 12.1
JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in thousands, except ratios)
![](https://capedge.com/proxy/10-QA/0000950136-05-006411/spacer.gif)
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![]() | Three Months Ended June 30 | ![]() | Six Months Ended June 30 | |||||||||||||||
![]() | 2005 | ![]() | 2004 | ![]() | 2005 | ![]() | 2004 | |||||||||||
Earnings: | ![]() | ![]() | ![]() | ![]() | ||||||||||||||
Income before income taxes | ![]() | $ | 24,109 | ![]() | $ | 36,285 | ![]() | $ | 35,023 | ![]() | $ | 62,175 | ||||||
Less: Capitalized interest | ![]() | (3,871 | ) | ![]() | (1,810 | ) | ![]() | (7,669 | ) | ![]() | (3,386 | ) | ||||||
Add: | ![]() | ![]() | ![]() | ![]() | ||||||||||||||
Fixed charges | ![]() | 41,003 | ![]() | 27,426 | ![]() | 76,817 | ![]() | 51,679 | ||||||||||
Amortization of capitalized interest | ![]() | 193 | ![]() | 142 | ![]() | 374 | ![]() | 276 | ||||||||||
Adjusted earnings | ![]() | $ | 61,434 | ![]() | $ | 62,043 | ![]() | $ | 104,545 | ![]() | $ | 110,744 | ||||||
Fixed charges: | ![]() | ![]() | ![]() | ![]() | ||||||||||||||
Interest expense | ![]() | $ | 24,708 | ![]() | $ | 12,165 | ![]() | $ | 44,802 | ![]() | $ | 21,656 | ||||||
Amortization of debt costs | ![]() | 659 | ![]() | 354 | ![]() | 1,223 | ![]() | 684 | ||||||||||
Rent expense representative of interest | ![]() | 15,636 | ![]() | 14,907 | ![]() | 30,792 | ![]() | 29,339 | ||||||||||
Total fixed charges | ![]() | $ | 41,003 | ![]() | $ | 27,426 | ![]() | $ | 76,817 | ![]() | $ | 51,679 | ||||||
Ratio of earnings to fixed charges | ![]() | 1.50 | ![]() | 2.26 | ![]() | 1.36 | ![]() | 2.14 | ||||||||||
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