JetBlue Airways (JBLU) 8-K Jetblue Airways Restates 2005 Financial Statements

Exhibit 12.1

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

	Year Ended December 31,
	2004			2003			2002			2001			2000
Earnings:
Income before income taxes	$	74,766		$	174,030		$	95,024		$	41,915		$	(21,569	)
Less: capitalized interest	(8,874		)	(5,203		)	(5,325		)	(8,043		)	(4,487		)
Add:
Fixed charges	113,370			79,185			53,126			39,329			17,978
Amortization of capitalized interest	604			471			304			71			19
Adjusted earnings	$	179,866		$	248,483		$	143,129		$	73,272		$	(8,059	)
Fixed charges:
Interest expense	$	51,856		$	27,850		$	20,339		$	13,816		$	7,328
Amortization of debt costs	1,622			1,047			670			316			67
Rent expense representative of interest	59,892			50,288			32,117			25,197			10,583
Total fixed charges	$	113,370		$	79,185		$	53,126		$	39,329		$	17,978
Ratio of earnings to fixed charges(1)	1.59			3.14			2.69			1.86			—

(1)Earnings were inadequate to cover fixed charges by $26.0 million for the year ended December 31, 2000.