JetBlue Airlines 2003 Annual Report Download - page 3

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7MAR200410062428
7MAR200410062360
We also returned to the capital markets in 2003 to finance our ongoing expansion. In July, we
completed a public offering of common stock with net proceeds of $122.5 million and, on the same
day, issued 31⁄2% convertible notes which raised net proceeds of $170.4 million.
LiveTV, our wholly-owned subsidiary, had a number of important accomplishments in 2003. In
addition to JetBlue aircraft, LiveTV installed satellite television systems on 24 non-JetBlue aircraft and
had firm commitments for installations on 52 additional aircraft scheduled to be installed through 2005.
Truly, 2003 was an exciting year for JetBlue. Still, as we move through 2004, we’ll continue to
ensure that our brand remains fresh as we take delivery of one new Airbus A320 every three weeks and
hire five crewmembers per day. Our customers will experience new airport kiosk technology, and
additional convenient functionalities on www.jetblue.com. They will also enjoy additional entertainment
options, including 100 channels of XM Radio and movie channel offerings from Fox Entertainment
Group to complement our DIRECTV offering, to name just a few of the enhancements we plan to
implement over the course of the year. Additionally, our customers will continue to reap the benefits of
the improvements we made throughout our fleet in 2003. All our A320 aircraft now offer an extra two
inches of legroom in the rear two-thirds of the plane, accomplished through the removal of one row of
seats.
As we enter our fifth year of operations, we remain committed to providing the best airline
experience for our customers and crewmembers alike. We also remain dedicated to collaborating with
the best business partners in our industry—including the FAA, Airbus, Embraer, IAE International
Aero Engine, General Electric, Honeywell, Navitaire and our many airport partners, most notably the
Port Authority of New York and New Jersey.
We know that we cannot take our accomplishments for granted. We will continue to do all that has
made us successful in the past while remaining focused on delivering results that will ensure our future
success. After all, ours is not just a story about 2003; it’s a story about delivering real value each and
every day, for a long time to come. Our aim is to exceed the extraordinary standards we have set so
that the future of JetBlue will be no less remarkable than our beginning.
On behalf of the 6,000+ dedicated JetBlue and LiveTV crewmembers across our system, thank
you very much for your continued interest in and support of JetBlue.
Most Sincerely,
David Neeleman—Chairman and Chief Executive Officer
Dave Barger—President and Chief Operating Officer