JetBlue Airlines 2011 Annual Report Download - page 33

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ITEM 2. PROPERTIES
Aircraft
As of December 31, 2011, we operated a fleet consisting of 120 Airbus A320 aircraft each powered by two
IAE International Aero Engines V2527-A5 engines and 49 EMBRAER 190 aircraft each powered by two
General Electric Engines CF-34-10 engines:
Aircraft
Seating
Capacity Owned
Capital
Leased
Operating
Leased Total
Average Age
in Years
Airbus A320 ................... 150 86 4 30 120 6.9
EMBRAER 190 ................ 100 19 — 30 49 4.1
Totals ...................... 105 4 60 169 6.1
Our aircraft leases have an average remaining lease term of approximately 9.6 years at December 31, 2011.
The earliest of these terms ends in 2013 and the latest ends in 2026. We have the option to extend most of these
leases for additional periods or to purchase the aircraft at the end of the related lease term. All but one of our 105
owned aircraft and all but 10 of our 39 owned spare engines are subject to secured debt financing. We also own
two EMBRAER 190 aircraft, which are subject to secured debt financing, and are currently being leased to
another air carrier and are not included in the table above.
In October 2011, we executed a new purchase agreement with Airbus S.A.S., which supersedes our original
purchase agreement and related amendments, and incorporates the terms of the memorandum of understanding
executed in June 2011. In this new agreement, we substituted 30 of our then remaining A320 aircraft deliveries
with A321 aircraft and placed a new order for 40 A320 new engine option, or A320neo, aircraft with delivery
scheduled in 2018 through 2021.
In February 2011, we cancelled the orders for two EMBRAER 190 aircraft previously scheduled for
delivery in 2013. In October 2011, we further amended our EMBRAER 190 purchase agreement, terminating 11
aircraft previously scheduled for delivery in 2017 and 2018. In October 2011, we deferred seven aircraft
previously scheduled for delivery in 2013 and 2014 to 2018 and cancelled the order for one EMBRAER 190
aircraft previously scheduled for delivery in 2014. Some or all of these deferred aircraft may either be returned to
their previously committed to delivery dates or cancelled and subject to cancellation fees if before July 31, 2012
we elect not to further amend our purchase agreement to order a new EMBRAER 190 variant, if developed.
As of December 31, 2011, we had on order 126 aircraft, which are scheduled for delivery through 2021,
with options to acquire an additional 56 aircraft. Our aircraft delivery schedule is:
Firm Option
Year
Airbus
A320
Airbus
A321
Airbus
A320 neo
EMBRAER
190 Total
EMBRAER
190
2012 7 — — 4 11 —
2013 3 4 — 2 9 6
2014 — 9 — 2 11 10
2015 — 10 — 7 17 10
2016 3 7 — 8 18 10
2017 8 — — 5 13 10
2018 — — 10 7 17 10
2019 — — 10 — 10 —
2020 — — 10 — 10 —
2021 — — 10 — 10 —
21 30 40 35 126 56
23