JetBlue Airways (JBLU) 10-Q 2007 Q3 Quarterly report

Exhibit 12.1

JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions, except ratios)

			Three Months Ended September 30,												Nine Months Ended September 30,
			2007						2006						2007						2006
Earnings:
Income (loss) before income taxes				$	46					$	1					$	44					$	(21	)
Less: capitalized interest					(11	)					(7	)					(30	)					(19	)
Add:
Fixed charges					86						69						246						190
Amortization of capitalized interest					1						—						1						—
Adjusted earnings				$	122					$	63					$	261					$	150
Fixed charges:
Interest expense				$	57					$	44					$	162					$	122
Amortization of debt costs					1						1						4						2
Rent expense representative of interest					28						24						80						66
Total fixed charges				$	86					$	69					$	246					$	190
Ratio of earnings to fixed charges(1)					1.41						—						1.06						—

(1) Earnings were inadequate to cover fixed charges by $6 million and $40 million for the three and nine months ended September 30, 2006, respectively.