JetBlue Airlines 2009 Annual Report Download - page 28

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ITEM 2. PROPERTIES
Aircraft
As of December 31, 2009, we operated a fleet consisting of 110 Airbus A320 aircraft each powered by
two IAE International Aero Engines V2527-A5 engines and 41 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 24 110 4.9
EMBRAER 190 ................ 100 10 — 31 41 2.8
Totals ...................... 92 4 55 151 4.3
Our aircraft leases have an average remaining lease term of approximately 11.8 years at December 31,
2009. 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 92 owned aircraft and all but two of our 25 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.
In February 2009, we amended our EMBRAER purchase agreement, canceling the exercise of two
options originally scheduled for delivery in 2015. Additionally, in March 2009, we deferred delivery of three
aircraft originally scheduled for delivery in 2010 to 2012. In December 2009, we further amended our
EMBRAER purchase agreement, rescheduling firm aircraft deliveries originally scheduled for delivery
between 2011 through 2016 to 2010 through 2018, and options originally scheduled from 2011 through 2015
to 2011 through 2018.
In July 2009, we amended our Airbus purchase agreement, deferring delivery of three aircraft previously
scheduled for delivery in 2010 to 2011 and canceling the exercise of six options to purchase aircraft at a
future date. In February 2010, we amended our Airbus A320 purchase agreement by deferring delivery of six
aircraft previously scheduled for delivery in 2011 and 2012 to 2015 in addition to canceling seven purchase
options.
Additionally, in July 2009, we extended the lease on two of our aircraft, one of which had been set to
expire in December 2009 and the other in March 2010.
As of December 31, 2009, including the effects of the various 2009 amendments and the 2010 Airbus
A320 amendment, we had on order 115 aircraft, which are scheduled for delivery through 2018, with options
to acquire 82 aircraft. We have the right to cancel five 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
2010 — 4 4 — — —
2011 4 5 9 — 4 4
2012 11 6 17 — 10 10
2013 13 7 20 — 10 10
2014 12 7 19 4 10 14
2015 15 7 22 4 10 14
2016 — 8 8 — 10 10
2017 — 8 8 — 10 10
2018 — 8 8 — 10 10
55 60 115 8 74 82
19