QuickLinks -- Click here to rapidly navigate through this document
Exhibit 12.1
JETBLUE AIRWAYS CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (in thousands)
| Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2003 | 2002 | 2003 | 2002 | ||||||||||||
Earnings: | ||||||||||||||||
Income before income taxes | $ | 49,417 | $ | 20,488 | $ | 144,920 | $ | 67,812 | ||||||||
Less: Capitalized Interest | (1,405 | ) | (1,415 | ) | (3,647 | ) | (4,147 | ) | ||||||||
Add: | ||||||||||||||||
Fixed charges | 21,192 | 13,766 | 56,671 | 37,661 | ||||||||||||
Amortization of capitalized interest | 119 | 82 | 344 | 196 | ||||||||||||
Adjusted earnings | $ | 69,323 | $ | 32,921 | $ | 198,288 | $ | 101,522 | ||||||||
Fixed charges: | ||||||||||||||||
Interest expense | $ | 7,628 | $ | 5,574 | $ | 19,386 | $ | 14,196 | ||||||||
Amortization of debt costs | 229 | 164 | 688 | 454 | ||||||||||||
Rent expense representative of interest | 13,335 | 8,028 | 36,597 | 23,011 | ||||||||||||
Total fixed charges | $ | 21,192 | $ | 13,766 | $ | 56,671 | $ | 37,661 | ||||||||
Ratio of earnings to fixed charges | 3.27 | 2.39 | 3.50 | 2.70 | ||||||||||||
JETBLUE AIRWAYS CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (in thousands)