JetBlue Airlines 2007 Annual Report Download - page 30

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ITEM 2. PROPERTIES
Aircraft
As of December 31, 2007, we operated a fleet consisting of 104 Airbus A320 aircraft each
powered by two IAE International Aero Engines V2527-A5 engines and 30 EMBRAER 190 aircraft
each powered by two General Electric Engines CF-34-10 engines, as follows:
Aircraft
Seating
Capacity Owned
Capital
Leased
Operating
Leased Total
Average Age
in Years
Airbus A320 .................. 150 76 4 24 104 3.6
EMBRAER 190 ............... 100 1 — 29 30 1.5
Totals....................... 77 4 53 134 3.1
Our aircraft leases have an average remaining initial lease term of approximately 13.8 years at
December 31, 2007. The earliest of these terms ends in 2009 and the latest ends in 2025. We have the
option to extend most of these leases for additional periods or to purchase the aircraft at the end of
the lease term. All 77 of our owned aircraft and 19 of our 21 owned spare engines are subject to
secured debt financing.
In October 2007, we amended our EMBRAER 190 purchase agreement, deferring delivery of
16 EMBRAER 190 aircraft originally scheduled for delivery from 2007 through 2012 to 2013 through
2015. In January 2008, we amended our Airbus A320 purchase agreement, deferring delivery of
16 Airbus A320 aircraft originally scheduled for delivery from 2011 through 2012 to 2012 through
2013. This amendment also affected our A320 purchase options as follows: 1) the deferral of eight to
2013 and 2014, 2) the conversion of eight into purchase rights for A320 aircraft scheduled for delivery
through 2015 and 3) the cancellation of four. As of December 31, 2007, including the effects of these
amendments, we had on order 144 aircraft, which are scheduled for delivery through 2015 on a
relatively even basis during each year, with options to acquire 123 aircraft as follows:
Firm Option
Year
Airbus
A320
EMBRAER
190 Total
Airbus
A320
EMBRAER
190 Total
2008 12 6 18 — — —
2009 (1) 12 9 21 — 4 4
2010 10 8 18 — 9 9
2011 10 8 18 6 11 17
2012 13 10 23 8 12 20
2013 13 12 25 10 14 24
2014 — 12 12 4 21 25
2015 — 9 9 4 20 24
70 74 144 32 91 123
(1) In 2007, we exercised options for three of our EMBRAER 190 aircraft scheduled for delivery in
2009, which are now included as firm commitments.
Facilities
We occupy all of our facilities at each of the airports we serve under leases or other occupancy
agreements. Our agreements for terminal passenger service facilities, which include ticket counter and
gate space, operations support area and baggage service offices, generally have terms ranging from
less than one year to five years, and contain provisions for periodic adjustments of rental rates. We
also are responsible for maintenance, insurance, utilities and certain other facility-related expenses and
services. We have entered into use arrangements at each of the airports we serve that provide for the
non-exclusive use of runways, taxiways and other airport facilities. Landing fees under these
agreements are typically based on the number of landings and the weight of the aircraft.
20