JetBlue Airlines 2012 Annual Report Download

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LA / LONG BEACH

Table of contents

  • Page 1
    LA / LONG BEACH

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    ... country, including New York, Boston and Florida. In Boston, we have continued to create and capitalize on opportunities in the changing competitive landscape by adding routes and frequencies and increasing our relevance to business travelers. At year end, our domestic operations accounted for more...

  • Page 4
    ... to successfully execute our network strategy and contain costs. We plan to continue to pursue targeted, profitable growth opportunities in Boston, the Caribbean and Latin America while maintaining a cost advantage versus our competitors. We will also take delivery of our first four Airbus A321...

  • Page 5
    ... file number. 000-49728 JETBLUE AIRWAYS CORPORATION (Exact name of Registrant as specified in its charter) DELAWARE 87-0617894 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 27-01 Queens Plaza North, Long Island City, New York 11101 (Address...

  • Page 6
    ... Our Industry and Competition ...07 The JetBlue Experience and Strategy ...07 Our Cost Structure and Operations ...09 Culture ...11 Aircraft Fuel ...11 Maintenance ...11 LiveTV, LLC...12 Government Regulation ...12 ITEM 1A. Risk Factors...14 Risks Related to JetBlue ...14 Risks Associated with the...

  • Page 7
    ... ...69 Certain Relationships and Related Transactions, and Director Independence ...69 Principal Accounting Fees and Services...69 PART IV ITEM 15. 70 Exhibits and Financial Statement Schedules...70 Schedule II Valuation and Qualifying Accounts ...82 JETBLUE AIRWAYS CORPORATION - 2012 10K 03

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    This page intentionally left blank. 04 JETBLUE AIRWAYS CORPORATION - 2012 10K

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    ... in some international emerging markets that may experience political or economic instability or may subject us to legal risk; reputational and business risk from information security breaches; a negative impact on the JetBlue brand; the long term nature of our ï¬,eet order book; changes in or...

  • Page 10
    ... focus cities: New York, Boston, Fort Lauderdale, Los Angeles (Long Beach), Orlando and San Juan, Puerto Rico. By the end of 2012, we operated an average of 750 daily ï¬,ights. For the year ended December 31, 2012, JetBlue was the sixth largest passenger carrier in the United States based on revenue...

  • Page 11
    ... and acts of terrorism. Airline returns are sensitive to even slight changes in fuel costs, average fare levels and passenger demand. The principal competitive factors in the airline industry include fares, capacity, customer service, route networks, ï¬,ight schedules, aircraft types, safety records...

  • Page 12
    ...â„¢, a one-stop, value-priced vacation website and service designed to meet customers' demand for self-directed packaged travel planning. JetBlue Getawaysâ„¢ packages offer competitive fares for air travel on JetBlue, along with a selection of JetBlue-recommended hotels and resorts, car rentals and...

  • Page 13
    ... Speed, early boarding, access to a dedicated Customer service line available 24 hours a day/7days a week, a free second bag checked and free EvenMoreTM Space seat upgrades. We have an agreement with American Express under which it issues JetBlue co-branded American Express credit cards, allowing...

  • Page 14
    ... number of ï¬,ights and available seat miles. For the year ended December 31, 2012, our aircraft operated an average of 11.8 hours per day which we believe is among the highest of all major U.S. airlines. Our airport operations allow us to schedule our aircraft with minimum ground time. We offer...

  • Page 15
    ...in 2012. The price and availability of aircraft fuel are extremely volatile due to global economic and geopolitical factors we can neither control nor accurately predict. We use a third party fuel management service to procure most of our fuel. Our historical fuel consumption and costs for the years...

  • Page 16
    ...security research and development. The TSA also has law enforcement powers and the authority to issue regulations, including in cases of national emergency, without a notice or comment period. In December 2009, the DOT issued a rule, which among other things, requires carriers not to permit domestic...

  • Page 17
    ... our operations. We use our "Jetting to Green" program on www.jetblue.com to educate our customers and Crewmembers about environmental issues and to inform the public about our environmental protection initiatives. Our most recent corporate sustainability report for the years 2010-2011 is available...

  • Page 18
    ... fares required to maintain profitable operations in new and existing markets and could impede our profitable growth strategy, which would harm our business. Additionally, if a traditional network airline were to fully develop a low cost structure, or if we were to experience increased competition...

  • Page 19
    ... times over the past few years due to higher fuel prices, the competitive pricing environment and other cost increases, by deferring some of our scheduled deliveries of new aircraft, selling some used aircraft, terminating our leases for some of our aircraft, and leasing aircraft to other operators...

  • Page 20
    ... such as adverse changes in local economic conditions, negative public perception of New York City, terrorist attacks or significant price increases linked to increases in airport access costs and fees imposed on passengers. We rely heavily on automated systems to operate our business; any failure...

  • Page 21
    ... change" were to occur in the future, our ability to utilize our net operating losses could be limited. Our business depends on our strong reputation and the value of the JetBlue brand. The JetBlue brand name symbolizes high-quality friendly customer service, innovation, fun, and a pleasant travel...

  • Page 22
    ...ticket prices, reducing air travel demand and/or revenue and increasing costs. The FAA has published new regulations relating to crew rest requirements, which we are currently analyzing. Should the final rules require us to make significant changes to our crew rest requirements, our cost structure...

  • Page 23
    ... 31, 2012, we had on order 115 aircraft, which are scheduled for delivery through 2021. Our aircraft delivery schedule is: Firm Airbus A320neo - - - - - 10 10 10 10 40 Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 Airbus A320 3 - - 3 8 - - - - 14 Airbus A321 4 9 10 7 - - - - - 30 EMBRAER 190...

  • Page 24
    ...typically based on the number of aircraft landings and the weight of the aircraft. Our focus cities include New York, Boston, Long Beach, Orlando, Fort Lauderdale and San Juan, Puerto Rico. In November 2005, we executed a lease agreement with the PANYNJ for the construction and operation of Terminal...

  • Page 25
    ... Chief Accounting Officer, a position he has held since May 2009. He served as our Vice President and Corporate Controller since October 2007. He previously served as our Assistant Controller since July 2006 and Director of Financial Reporting since October 2002. JETBLUE AIRWAYS CORPORATION - 2012...

  • Page 26
    ... shares over a five year period. The repurchases may be commenced or suspended from time to time without prior notice. The shares repurchased under our share repurchase program were purchased in open market transactions and are held as treasury stock. 22 JETBLUE AIRWAYS CORPORATION - 2012 10K

  • Page 27
    ...12 JetBlue Airways Corporation NYSE Arca Airline Index(1) JetBlue Airways Corporation S&P 500 Stock Index NYSE Arca Airline Index(1) $ $ $ 12/31/2007 100 100 100 $ $ $ 12/31/2008 120 63 71 $ $ $ 12/31/2009 92 80 99 $ $ $ 12/31/2010 112 92 137 $ $ $ 12/31/2011 88 94 95 $ $ $ 12/31/2012...

  • Page 28
    .... In 2010, we also incurred approximately $13 million in one-time implementation expenses related to our new customer service system. (4) In 2012, we recorded a net of $1 million in losses related to the early extinguishment of $220 million in principal of debt securing nine aircraft. In 2011, we...

  • Page 29
    ... seat miles. "Average stage length" represents the average number of miles ï¬,own per ï¬,ight. "Average fuel cost per gallon" represents total aircraft fuel costs, including fuel taxes and effective portion of fuel hedging, divided by the total number of fuel gallons consumed. JETBLUE AIRWAYS...

  • Page 30
    ...as of December 31, 2012. • We further solidified our position as New York's hometown airline with the opening of our new headquarters in Long Island City and as we commenced construction of an international arrivals facility at John F. Kennedy International Airport, or JFK. • We were recognized...

  • Page 31
    ... fuel, our cost per available seat mile increased 3% in 2012. • Invested in four new owned EMBRAER 190 aircraft and seven new owned Airbus A320 aircraft. Eight of these aircraft were debt financed. • Commenced service to five new cities during 2012. Total departures increased 9%. • Extended...

  • Page 32
    ... routes, including Puerto Rico, accounted for 26% of our total passenger revenues in 2012. Revenue is recognized either when transportation is provided or after the ticket or customer credit expires. We measure capacity in terms of available seat miles, which represents the number of seats available...

  • Page 33
    ...attempt to proactively manage future increases in healthcare costs as a result of new healthcare reform legislation and impending tax increases, we comprehensively re-designed our 2013 healthcare plans. During 2012, the average number of full-time equivalent employees increased by 4% resulting in an...

  • Page 34
    ... fuel, our cost per available seat mile increased 0.9% in 2011. • Invested in five new owned EMBRAER 190 aircraft and four new owned Airbus A320 aircraft, all of which were debt financed. • Opened seven new cities in 2011. Total departures increased 8%. • Extended the leases on four aircraft...

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    ... the relative size of these items to our 2011 pre-tax income of $145 million and our 2010 pre-tax income of $161 million. The rate increase was due to a reduction in the valuation allowance attributable to state net operating loss carryforwards in 2010. Costs per Available Seat Mile (Non-GAAP) Our...

  • Page 36
    ... fuel and profit sharing (cents) Airline operating expense per ASM (cents)(4) Departures Average stage length (miles) Average number of operating aircraft during period Average fuel cost per gallon, including fuel taxes Fuel gallons consumed (millions) Full-time equivalent employees at period end...

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    ... to quarter. As such, we remain focused on trying to reduce the seasonal impact of our operations and increase demand and travel during the trough periods. Liquidity and Capital Resources The airline business is capital intensive. Our ability to successfully execute our profitable growth plans is...

  • Page 38
    ... of ï¬,ight equipment included (1) $344 million for seven Airbus A320 aircraft, four EMBRAER 190 aircraft and five spare engines, (2) $283 million for ï¬,ight equipment deposits, which includes a $200 million prepayment in exchange for favorable pricing 34 JETBLUE AIRWAYS CORPORATION - 2012 10K

  • Page 39
    ...nancing for two EMBRAER 190 aircraft scheduled for delivery in 2013. We plan to opportunistically finance the remaining 2013 scheduled deliveries at favorable borrowing terms relative to our weighted average cost of debt. Although we believe debt and/or lease financing should be available for our...

  • Page 40
    ... at the end of the related leases. Our firm aircraft orders at December 31, 2012 consisted of 14 Airbus A320 aircraft, 30 Airbus A321 aircraft, 40 Airbus A320 neo aircraft and 31 EMBRAER 190 aircraft scheduled for delivery as follows 14 in 2013, 10 in 2014, 17 in 2015, 18 in 2016, 13 in 2017, 13 in...

  • Page 41
    ... also includes customer credits issued and unused tickets whose travel date has passed. Credit for unused tickets and customer credits can each be applied towards another ticket within 12 months of the original scheduled service or 12 months from the issuance of the customer credit. Revenue is...

  • Page 42
    ...technology. As our assets are all relatively new and we continue to have positive operating cash ï¬,ows, we have not identified any significant impairment related to our long-lived assets at this time. Lease accounting. We operate airport facilities, offices buildings and aircraft under operating...

  • Page 43
    ... by changes in the price and availability of aircraft fuel. To manage the price risk, we use crude or heating oil option contracts or jet fuel swap agreements. Market risk is estimated as a hypothetical 10% increase in the December 31, 2012 cost per gallon of fuel. Based on projected 2013 fuel...

  • Page 44
    ...ITEM 8 Financial Statements and Supplementary Data ITEM 8. Financial Statements and Supplementary Data JetBlue Airways Corporation Consolidated Balance Sheets (in millions, except share data) December 31, 2012 2011 ASSETS CURRENT ASSETS Cash and cash equivalents Investment securities Receivables...

  • Page 45
    PART II ITEM 8 Financial Statements and Supplementary Data JetBlue Airways Corporation Consolidated Balance Sheets (in millions, except share data) December 31, 2012 2011 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable Air traffic liability Accrued salaries, wages ...

  • Page 46
    PART II ITEM 8 Financial Statements and Supplementary Data JetBlue Airways Corporation Consolidated Statements of Operations (in millions, except per share amounts) Year Ended December 31, 2012 2011 $ 4,550 432 4,982 1,806 1,044 277 258 130 204 338 549 4,606 376 (176) 8 1 (167) 209 81 128 0.45 ...

  • Page 47
    ... ITEM 8 Financial Statements and Supplementary Data JetBlue Airways Corporation Consolidated Statements of Comprehensive Income (in millions) NET INCOME Changes in fair value of derivative instruments, net of reclassifications into earnings (net of $5, $4, and $7 of taxes in 2012, 2011 and 2010...

  • Page 48
    ... Amortization Stock-based compensation (Gains) losses on sale of assets, debt extinguishment, and customer contract termination Collateral (paid) returned for derivative instruments Restricted cash refunded by business partners Changes in certain operating assets and liabilities: Decrease (increase...

  • Page 49
    ... 31, 2010 Net income Changes in comprehensive income Total comprehensive income Vesting of restricted stock units Stock compensation expense Stock issued under crewmember stock purchase plan Shares returned pursuant to 2008 share lending Other Balance at December 31, 2011 Net income Changes in...

  • Page 50
    ...Financial Statements December 31, 2012 JetBlue Airways Corporation is an innovative passenger airline that provides award-winning customer service at competitive fares primarily on point-topoint routes. We offer our customers a high quality product with young, fuel-efficient aircraft, leather seats...

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    ... 31, 2012 is expected to be approximately $13 million in 2013, $11 million in 2014, $8 million in 2015, $6 million in 2016, and $5 million in 2017. Intangible Assets: Intangible assets consist of acquired take-off and landing slots at certain domestic airports. We record these assets at cost and...

  • Page 52
    ...of our scheduled and unscheduled repair of airframe line replacement unit components and the engines on our Airbus A320 aircraft. These agreements, which range from ten to 15 years, require monthly payments at rates based either on the number of cycles each aircraft was operated during each month or...

  • Page 53
    ... is based on three month LIBOR plus a margin. Interest is payable quarterly. (4) In December 2006, the New York City Industrial Development Agency issued special facility revenue bonds for JFK and, in November 2005, the Greater Orlando Aviation Authority issued special purpose airport facilities...

  • Page 54
    ... as follows (in millions): Year 2013 2014 2015 2016 2017 Thereafter Maturities 394 572 258 456 182 989 $ We are subject to certain collateral ratio requirements in our spare parts pass-through certificates and spare engine financing issued in November 2006 and December 2007, respectively. If we...

  • Page 55
    ... Financial Statements and Supplementary Data The carrying amounts and estimated fair values of our long-term debt at December 31, 2012 and 2011 were as follows (in millions): December 31, 2012 Carrying Estimated Value Fair Value Public Debt Floating rate enhanced equipment notes Class G-1, due 2013...

  • Page 56
    ...under operating leases, with lease expiration dates ranging from 2014 to 2026. As of December 31, 2012, two of our Airbus A320 aircraft leases were scheduled to expire within 18 months. Five of the 60 aircraft operating leases have variable rate rent payments based on LIBOR. Leases for 52 of Future...

  • Page 57
    ...for further details on our share-based compensation. In September 2012, our Board of Directors authorized a share repurchase program for up to 25 million shares of common stock over a five year period. The repurchases may be commenced or suspended from time to time without prior notice. During the...

  • Page 58
    ... in 2007, we began issuing restricted stock units under the 2002 Plan. These awards vest in annual installments over three years or could be accelerated upon the occurrence of a change in control as defined in the 2002 Plan. Our policy is to grant restricted stock units based on the market price of...

  • Page 59
    ... vesting period was changed to either one or three years of service. Once vested, shares are issued six months and one day following the Director's departure from the Board. During the years ended December 31, 2012 and 2011, we granted an insignificant amount of deferred stock units, almost all of...

  • Page 60
    ... under the 2011 Crewmember Stock Purchase Plan for the year ended December 31: 2012 Weighted Shares Average Price 8,000,000 - (1,563,776) $ 4.75 6,436,224 The 2011 CSPP, as did the original CSPP, has a series of successive overlapping six months offering periods, with a new offering period beginning...

  • Page 61
    ... differed from the federal income tax statutory rate for the years ended December 31 for the following reasons (in millions): 2012 73 $ 6 - 2 81 $ 2011 51 $ 5 - 3 59 $ 2010 57 6 (2) 3 64 Income tax expense at statutory rate Increase (decrease) resulting from: State income tax, net of federal bene...

  • Page 62
    ... the orders for a total of 14 EMBRAER 190 aircraft previously scheduled for delivery in 2013, 2014, 2017 and 2018. We also deferred seven EMBRAER 190 aircraft previously scheduled for delivery in 2013 and 2014 to 2018. In October 2011, we executed a new purchase agreement with Airbus S.A.S., which...

  • Page 63
    ... we plan to partner with ViaSat to make this technology available to other airline customers in the future as well. We enter into individual employment agreements with each of our FAAlicensed employees, which include pilots, dispatchers, technicians and inspectors as well as air traffic controllers...

  • Page 64
    ... Demand, dated June 8, 2012, Claimants (approximately 944 current pilots and 26 former pilots) alleged that JetBlue breached the Base Salary provision of the Employment Agreements and sought back pay and related damages, for each of 2002, 2007 and 2009. In July 2012, in response to JetBlue...

  • Page 65
    ...ITEM 8 Financial Statements and Supplementary Data The following table illustrates the approximate hedged percentages of our projected fuel usage by quarter as of December 31, 2012, related to our outstanding fuel hedging contracts that were designated as cash ï¬,ow hedges for accounting purposes...

  • Page 66
    ...during the twelve months ended December 31, 2012 or 2011. Auction rate securities: We had historically held auction rate securities, or ARS, long-term debt securities for which interest rates reset regularly at pre-determined intervals, typically 28 days, through an auction process. During 2010, UBS...

  • Page 67
    ...three destinations in Puerto Rico and two destinations in the U.S. Virgin Islands in our Caribbean and Latin America allocation of revenues. Operating revenues by geographic regions for the years ended December 31 are summarized below (in millions): 2012 3,666 1,316 4,982 2011 3,351 1,153 4,504 2010...

  • Page 68
    ...per share amounts does not equal the annual amount reported since per share amounts are computed independently for each quarter and for the full year based on respective weighted-average common shares outstanding and other dilutive potential common shares. 64 JETBLUE AIRWAYS CORPORATION - 2012 10K

  • Page 69
    ... with the standards of the Public Company Accounting Oversight Board (United States), JetBlue Airways Corporation's internal control over financial reporting as of December 31, 2012, based on criteria established in Internal Control-Integrated Framework issued by the Committee of Sponsoring...

  • Page 70
    ... Public Company Accounting Oversight Board (United States), the consolidated balance sheets of JetBlue Airways Corporation as of December 31, 2012 and 2011 and the related consolidated statements of operations, comprehensive income, stockholders' equity, and cash ï¬,ows for each of the three years...

  • Page 71
    ... has issued their report which is included elsewhere herein. Changes in Internal Control Over Financial Reporting During the quarter ended December 31, 2012, there were no changes in our internal control over financial reporting (as defined in Rule 13a-15(f) or Rule 15d-15(f) under the Exchange...

  • Page 72
    ... to Regulation 14A within 120 days after the end of our 2012 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. 68 JETBLUE AIRWAYS CORPORATION - 2012 10K

  • Page 73
    ... below provides information relating to our equity compensation plans (including individual compensation arrangements) under which our common stock is authorized for issuance as of December 31, 2012, as adjusted for stock splits: Number of securities remaining available for future issuance under...

  • Page 74
    ... - For the years ended December 31, 2012, 2011 and 2010 Notes to Consolidated Financial Statements Reports of Independent Registered Public Accounting Firm Financial Statement Schedule: Report of Independent Registered Public Accounting Firm on Financial Statement Schedule Schedule II - Valuation...

  • Page 75
    ...has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. JETBLUE AIRWAYS CORPORATION (Registrant) /s/ DONALD DANIELS Vice President, Controller, and Chief Accounting Officer (Principal Accounting Officer) By: Date: February 20, 2013 KNOW ALL PERSONS BY...

  • Page 76
    ... Agreement-incorporated by reference to Exhibit 4.3 to our Annual Report on Form 10-K for the year ended December 31, 2002. Amendment to the Stockholder Rights Agreement, dated as of January 17, 2008, by and between JetBlue Airways Corporation and Computershare Trust Company, N.A.-incorporated by...

  • Page 77
    ... Financial Guaranty Insurance Policy, dated March 24, 2004, bearing Policy Number 43567(2) issued to Wilmington Trust Company, as Subordination Agent for the Class G-2 Certificates-incorporated by reference to Exhibit 4.26 to our Current Report on Form 8-K dated March 24, 2004. JETBLUE AIRWAYS...

  • Page 78
    ... reference to Exhibit 4.6 to our Current Report on Form 8-K dated November 9, 2004. Revolving Credit Agreement (2004-2C), dated as of November 15, 2004, between Wilmington Trust Company, as Subordination Agent, as agent and trustee for the JetBlue Airways 2004-2C Pass Through Trust, as Borrower, and...

  • Page 79
    ... Services Inc., as Above Cap Liquidity Provider, and Wilmington Trust Company, as Subordination Agent for the JetBlue Airways (Spare parts) G-1 Pass Through Trust-incorporated by reference to Exhibit 4.5 to our Current Report on Form 8-K dated November 14, 2006. JETBLUE AIRWAYS CORPORATION - 2012...

  • Page 80
    ... to Exhibit 4.8 to our Current Report on Form 8-K dated November 14, 2006. MBIA Insurance Corporation Financial Guaranty Insurance Policy, dated November 14, 2006, bearing Policy Number 487110 issued to Wilmington Trust Company, as Subordination Agent for the Class G-1 Certificates-incorporated...

  • Page 81
    ... No. 31 to V2500 General Terms of Sale between IAE International Aero Engines and New Air Corporation, dated September 27, 2011-incorporated by reference to Exhibit 10.3(v) to our Quarterly Report on Form 10-Q for the quarter ended September 30, 2011. JETBLUE AIRWAYS CORPORATION - 2012 10K 77

  • Page 82
    ...the quarter ended September 30, 2010. Amendment No. 11 to Purchase Agreement DCT-025/2003, dated as of October 20, 2011, between Embraer-Empresa Brasileira de Aeronautica S.A. and JetBlue Airways Corporation-incorporated by reference to Exhibit 10.17(k) to our Annual Report on Form 10-K for the year...

  • Page 83
    ...between The Port Authority of New York and New Jersey and JetBlue Airways Corporation-incorporated by reference to Exhibit 10.30 to our Annual Report on Form 10-K for the year ended December 31, 2005. Amended and Restated 2002 Stock Incentive Plan, dated November 7, 2007, and form of award agreement...

  • Page 84
    ... 10.33 to our Annual Report on Form 10-K for the year ended December 31, 2011. Letter Agreement 9 to Airbus A320 Family Purchase Agreement, dated December 19, 2012, between Airbus S.A.S. and JetBlue Airways Corporation. JetBlue Airways Corporation 2011 Crewmember Stock Purchase Plan-incorporated by...

  • Page 85
    ... the consolidated financial statements of JetBlue Airways Corporation as of December 31, 2012 and 2011, and for each of the three years in the period ended December 31, 2012, and have issued our report thereon dated February 20, 2013 (included elsewhere in this Annual Report on Form 10-K). Our...

  • Page 86
    ... IV ITEM 15 Exhibits and Financial Statement Schedules JetBlue Airways Corporation Schedule II Valuation and Qualifying Accounts (in thousands) Description Year Ended December 31, 2012 Allowances deducted from asset accounts: Allowance for doubtful accounts Allowance for obsolete inventory parts...

  • Page 87
    ... of internal control over financial reporting of JetBlue Airways Corporation and the financial statement schedule of JetBlue Airways Corporation listed in Item 15(2) included in this Annual Report (Form 10-K) for the year ended December 31, 2012. /s/ Ernst & Young LLP New York, New York February...

  • Page 88
    ...information; and any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. By: /s/ DAVID BARGER Chief Executive Officer Date: February 20, 2013 84 JETBLUE AIRWAYS CORPORATION - 2012...

  • Page 89
    ... information; and any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. By: /s/ MARK D. POWERS Chief Financial Officer Date: February 20, 2013 JETBLUE AIRWAYS CORPORATION - 2012...

  • Page 90
    ... Exhibits and Financial Statement Schedules EXHIBIT 32 Section 1350 Certifications In connection with the Annual Report of JetBlue Airways Corporation on Form 10-K for the year ended December 31, 2012, as filed with the Securities and Exchange Commission on February 20, 2013 (the "Report"), the...

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