JetBlue Airlines 2003 Annual Report Download - page 75

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Report of Independent Auditors
The Board of Directors and Stockholders
JetBlue Airways Corporation
We have audited the accompanying consolidated balance sheets of JetBlue Airways Corporation as
of December 31, 2003 and 2002, and the related consolidated statements of income, and stockholders’
equity (deficit), and cash flows for each of the three years in the period ended December 31, 2003.
These financial statements are the responsibility of the Company’s management. Our responsibility is to
express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United
States. Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant estimates made by management,
as well as evaluating the overall financial statement presentation. We believe that our audits provide a
reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects,
the consolidated financial position of JetBlue Airways Corporation at December 31, 2003 and 2002, and
the consolidated results of their operations and their cash flows for each of the three years in the
period ended December 31, 2003, in conformity with accounting principles generally accepted in the
United States.
/s/ ERNST & YOUNG LLP
New York, New York
January 26, 2004
72