JetBlue Airlines 2005 Annual Report Download - page 30

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ITEM 2. PROPERTIES
Aircraft
As of December 31, 2005, we operated a fleet consisting of 85 Airbus A320 aircraft powered by
two IAE International Aero Engines V2527-A5 engines and seven EMBRAER 190 aircraft powered
by two General Electric Engines CF-34-10 engines, as follows:
Aircraft Seating
Capacity Owned Operating
Leased Total Average Age
in Years
Airbus A320................... 156 60 25 85 2.7
EMBRAER 190 ............... 100 1 6 7 0.2
Our 31 aircraft leases have an average remaining initial lease term of approximately 13 years at
December 31, 2005. The earliest of these terms ends in 2009 and the latest ends in 2023. We have the
option to extend most of these leases for additional periods or the right to purchase the aircraft at the
end of the lease term. All 61 of our owned aircraft are subject to secured debt financing.
As of December 31, 2005, we had on order 98 Airbus A320 aircraft and 94 EMBRAER 190
aircraft with options to acquire 50 additional Airbus A320 aircraft and 100 additional EMBRAER 190
aircraft, which are scheduled for delivery through 2016 (on a relatively even basis during each year) as
follows:
Firm Option End of Year
Cumulative
Total Fleet
(1)
Year Airbus
A320 EMBRAER
190 Total Airbus
A320 EMBRAER
190
2006 16 19 35 — — 127
2007 17 18 35 — — 162
2008 17 18 35 2 — 199
2009 18 18 36 2 — 237
2010 18 18 36 2 — 275
2011 12 3 15 9 15 314
2012 — — — 20 18 352
2013 — — — 15 18 385
2014 — — — — 18 403
2015 — — — — 18 421
2016 — — — — 13 434
98 94 192 50 100
(1) Assumes exercise of all of our options
Facilities
We lease all of our facilities at each of the airports we serve. Our leases for our terminal
passenger service facilities, which include ticket counter and gate space, operations support area and
baggage service offices, generally have a term ranging from less than one year to five years, and
contain provisions for periodic adjustments of lease rates. We also are responsible for maintenance,
insurance and other facility-related expenses and services. We have entered into use agreements at
each of the airports we serve that provide for the non-exclusive use of runways, taxiways and other
facilities. Landing fees under these agreements are based on the number of landings and weight of the
aircraft.
Our principal base of operations is Terminal 6 at JFK, which is operated under a lease with the
PANYNJ that expires in November 2006. In November 2005, we executed a lease agreement with the
PANYNJ for the construction and operation of a new Terminal 5 at JFK. Under the lease, JetBlue is
responsible for the construction, on behalf of the PANYNJ, of a 635,000 square foot 26-gate terminal
connected to the historic Saarinen Building, a parking garage, roadways and an AirTrain Connector,
22