JetBlue Airlines 2008 Annual Report Download - page 81

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Remediation of Material Weakness in Internal Control
To remediate the material weakness surrounding this, we have performed, among others, the following
actions:
• Completed a full wall-to-wall physical inventory count;
• Reinstated appropriate routine daily cycle count procedures;
• Provided related training to staff to help ensure that these procedures are properly performed; and
• Corrected the inherent programming error within our inventory management system subsequent to
December 31, 2008.
Additionally, we will perform a complete review of inventory processes and procedures to identify and
adopt measures to further improve and strengthen our overall control environment, and will continue to
monitor vigorously the effectiveness of these processes, procedures and controls.
Changes in Internal Control
Other than as expressly noted above in this Item 9A, there were no changes in our internal control over
financial reporting identified in connection with the evaluation of our controls performed during the quarter
ended December 31, 2008 that have materially affected, or are reasonably likely to materially affect, our
internal control over financial reporting.
ITEM 9B. OTHER INFORMATION
None.
PART III
ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE
Code of Ethics
We adopted a Code of Ethics within the meaning of Item 406(b) of SEC Regulation S-K. This Code of
Ethics applies to our principal executive officer, principal financial officer and principal accounting officer.
This Code of Ethics is publicly available on our website at investor.jetblue.com. If we make substantive
amendments to this Code of Ethics or grant any waiver, including any implicit waiver, we will disclose the
nature of such amendment or waiver on our website or in a report on Form 8-K within four days of such
amendment or waiver.
Audit Committee Financial Expert
Our Board of Directors has determined that at least one person serving on the Audit Committee is an
“audit committee financial expert” as defined under Item 407(d)(5) of SEC Regulation S-K. Our Board of
Directors has determined that Robert Clanin, the Chair of the Audit Committee, is an “audit committee
financial expert” and is independent as defined under applicable SEC and Nasdaq rules.
Information relating to executive officers is set forth in Part I of this report following Item 4 under
“Executive Officers of the Registrant.” The other information required by this Item will be included in and is
incorporated herein by reference from our definitive proxy statement for our 2009 Annual Meeting of
Stockholders to be held on May 14, 2009 to be filed with the SEC pursuant to Regulation 14A within
120 days after the end of our 2008 fiscal year, or our Proxy Statement.
ITEM 11. EXECUTIVE COMPENSATION
The information required by this Item will be included in and is incorporated herein by reference from
our Proxy Statement.
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