JetBlue Airlines 2010 Annual Report Download - page 28

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ITEM 2. PROPERTIES
Aircraft
As of December 31, 2010, we operated a fleet consisting of 115 Airbus A320 aircraft each powered by
two IAE International Aero Engines V2527-A5 engines and 45 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 82 4 29 115 6.1
EMBRAER 190 ................ 100 14 — 31 45 3.5
Totals ...................... 96 4 60 160 5.4
We also leased one additional aircraft which we took delivery of in December 2010 but which was not
placed in service as of December 31, 2010. Our aircraft leases have an average remaining lease term of
approximately 10.3 years at December 31, 2010. The earliest of these terms ends in 2011 and the latest ends
in 2026. We have the option to extend most of these leases for additional periods or to purchase aircraft at the
end of the related lease term. All but one of our 96 owned aircraft and all but two of our 30 owned spare
engines are subject to secured debt financing. We also own two EMBRAER 190 aircraft that are currently
being leased to another air carrier and are not included in the table above.
During 2010, we leased six used Airbus A320 aircraft from a third party. As of December 31, 2010, five
of the six had been delivered and placed in service and the remaining aircraft had been delivered in December
2010 and was placed in service in January 2011. Operating leases were executed for each aircraft upon
delivery for six year terms.
In February 2010, we amended our Airbus purchase agreement, deferring delivery of six aircraft
previously scheduled for delivery in 2011 and 2012 to 2015. In October 2010, we again amended our Airbus
A320 purchase agreement, deferring delivery of ten aircraft previously scheduled for delivery in 2012 and
2013 to 2016. In August 2010, we cancelled the orders of two EMBRAER 190 aircraft originally scheduled
for delivery in 2012.
As of December 31, 2010, including the effects of the various 2010 amendments, we had on order 109
aircraft, which are scheduled for delivery through 2018 , with options to acquire an additional 73 aircraft. As
of December 31, 2010, we also have the right to cancel three firm EMBRAER 190 deliveries in 2012 or later,
provided no more than two deliveries are canceled in any one year. Our aircraft delivery schedule is as
follows:
Year
Airbus
A320
EMBRAER
190 Total
Airbus
A320
EMBRAER
190 Total
Firm Option
2011 4 5 9 — — —
2012 7 4 11 — 5 5
2013 7 7 14 — 10 10
2014 12 7 19 4 10 14
2015 15 7 22 4 10 14
2016 10 8 18 — 10 10
2017 — 8 8 — 10 10
2018 — 8 8 — 10 10
55 54 109 8 65 73
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, landing fees and other
charges applicable under the type of lease. We also are responsible for maintenance, insurance, utilities and
19