JetBlue Airlines 2013 Annual Report Download

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2013 ANNUAL REPORT

Table of contents

  • Page 1
    2013 ANNUAL REPORT

  • Page 2

  • Page 3
    ... in the markets we serve, including free inflight entertainment, the most legroom in coach of any U.S. airline (based on average fleet-wide seat pitch), unlimited free snacks and great customer service. In addition, we offer reasonably priced product upgrades, such as expedited security, which...

  • Page 4
    ...leisure customers by adding routes and frequencies and improving our product offering. At year end, our domestic operations accounted for more than 25% of all domestic flights in Boston's Logan Airport. Looking ahead, we see tremendous opportunity for profitable growth at Fort Lauderdale - Hollywood...

  • Page 5
    ... operating and cost efficiencies from our new A321 aircraft and the sharklet retrofit of our A320 fleet beginning in 2015 will help us significantly reshape our cost dynamic and improve margin performance. • Revenue: We believe a maturing network, new product offerings such as Mint and Fly...

  • Page 6

  • Page 7
    ... Preferred Stock Purchase Rights Name of each exchange on which registered The NASDAQ Global Select Market Indicate by check mark • if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. YES NO • if the registrant is not required to file reports...

  • Page 8
    ... Contents PART I ITEM 1. 06 Business 06 Overview 06 2013 Operational Highlights 06 The JetBlue Experience and Strategy 07 Operations and Cost Structure 09 Culture 12 Regulation 13 ITEM 1A. Risk Factors 14 Risks Related to JetBlue 14 Risks Associated with the Airline Industry 18 ITEM 1B...

  • Page 9
    ... and Management and Related Stockholder Matters 68 Certain Relationships and Related Transactions, and Director Independence 68 Principal Accounting Fees and Services 68 PART IV ITEM 15. 69 Exhibits and Financial Statement Schedules 69 JETBLUE AIRWAYS CORPORATION - 2013 Annual Report 03

  • Page 10
    This page intentionally left blank. 04 JETBLUE AIRWAYS CORPORATION - 2013 Annual Report

  • Page 11
    ..., work stoppages, slowdowns or increased labor costs; our reliance on a limited number of suppliers; our presence 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...

  • Page 12
    ...principal competitive factors in the airline industry include fares, brand and customer service, route networks, flight schedules, aircraft types, safety records, code-sharing and interline relationships, in-flight entertainment and connectivity systems and frequent flyer programs. Price competition...

  • Page 13
    ... plans align with our future plans at Fort Lauderdale-Hollywood of growing to 100 flights per day. • TrueBlue and partnerships - In June we announced members of our TrueBlue frequent flyer program could earn and keep points without expiration. In October we became the first U.S. airline to offer...

  • Page 14
    ... points to exchange for the value of an open seat. In addition to points, members can earn badges and rewards for JetBlue-related activities like flying, interacting with partners and social media use. Since 2012 we have had an additional level for our most loyal customers called Mosaic. In order...

  • Page 15
    ... security, no change/cancel fees, early boarding, access to a dedicated Customer service line available 24 hours a day/7days a week, a free second checked bag and the exclusive ability to use TrueBlue points for Even MoreTM Space seat upgrades. There were over 931,000 TrueBlue award miles travel...

  • Page 16
    ... Airbus A321, the Airbus A320 and the EMBRAER 190 aircraft types. In 2013 our fleet had an average age of 7.1 years and operated an average of 11.9 hours per day. By operating a younger fleet as well as scheduling and operating our aircraft more efficiently we are able to spread related fixed costs...

  • Page 17
    ... 60% $200 40% 2009 CASH FROM OPERATIONS 2010 TOTAL CAPITAL EXPENDITURES 2011 POSITIVE FREE CASH FLOW *** 2012* NEGATIVE FREE CASH FLOW *** 2013 DEBT TO CAPITALIZATION RATIO * 2012 includes $200M unscheduled aircraft pre-delivery deposits, in exchange for favorable pricing terms. ** We have...

  • Page 18
    ... Crewmembers on the job. Our full-time equivalent employees at December 31, 2013 consisted of 2,407 pilots, 2,598 flight attendants, 3,586 airport operations personnel, 581 technicians (whom other airlines may refer to as mechanics), 1,025 reservation agents, and 2,833 management and other personnel...

  • Page 19
    ... our customers and Crewmembers about environmental issues and to inform the public about our environmental protection initiatives. Our most recent corporate sustainability report for 2012 is available on our website and addresses our environmental programs, including those aimed at JETBLUE AIRWAYS...

  • Page 20
    ... office at 100 F Street, NE, Room 1580, Washington, D.C. 20549. ITEM 1A. Risk Factors Risks Related to JetBlue We operate in an extremely competitive industry. The domestic airline industry is characterized by low profit margins, high fixed costs and significant price competition in an increasingly...

  • Page 21
    ... our Airbus A320 aircraft with Sharklets®, for example, may require significant modification time. These fleet modifications may require significant investment over several years, including taking aircraft out of service for several weeks at a time. JETBLUE AIRWAYS CORPORATION - 2013 Annual Report...

  • Page 22
    ... a high daily aircraft utilization rate (the amount of time our aircraft spend in the air carrying passengers). High daily aircraft utilization allows us to generate more revenue from our aircraft and is achieved in part by reducing turnaround times at airports so we can fly more hours on average in...

  • Page 23
    ... perception by the public which would result in customer avoidance or in actions by the FAA resulting in an inability to operate our aircraft. Carriers operating a more diversified fleet are better positioned than we are to manage such events. JETBLUE AIRWAYS CORPORATION - 2013 Annual Report 17

  • Page 24
    ... to protect our risk, any of which could harm our business. In addition, the U.S. Environmental Protection Agency ("EPA") has proposed changes to underground storage tank regulations that could affect certain airport fuel hydrant systems. In 18 JETBLUE AIRWAYS CORPORATION - 2013 Annual Report

  • Page 25
    ...upon report times, the number of scheduled flight segments, and other operational factors. We have hired additional pilots to address the requirements of the new rule. The new rule may reduce our staffing flexibility, which could impact our operational performance, costs, and delivery of the JetBlue...

  • Page 26
    ...be opened in 2015, with the lease agreement expiring in 2035. Our primary corporate offices are located in Long Island City, New York, with our lease expiring in 2023. Our offices in Salt Lake City, Utah contains a core team of employees who are responsible for group sales, customer service, at-home...

  • Page 27
    ... 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 - 2013 Annual...

  • Page 28
    ... up until the business day prior to the redemption date at a rate of 220.6288 shares per $1,000 debenture. All holders converted the debt into shares of our common stock before December 3, 2013 for a total of approximately 12.2 million shares. 22 JETBLUE AIRWAYS CORPORATION - 2013 Annual Report

  • Page 29
    ... Stock Index NYSE Arca Airline Index(1) 12/31/2009 $ 100 100 100 12/31/2010 $ 121 115 139 12/31/2011 $ 95 117 96 12/31/2012 $ 105 136 131 12/31/2013 $ 157 180 206 (1) As of December 31, 2013, the NYSE Arca Airline Index consisted of Air Canada, Alaska Air Group Inc., Allegiant Travel Company...

  • Page 30
    ... customer service system. In 2009 we sold two aircraft which resulted in gains of approximately $1 million. (3) We recorded $3 million, $1 million and $6 million in losses on the early extinguishment of debt in 2013, 2012 and 2011 respectively. 24 JETBLUE AIRWAYS CORPORATION - 2013 Annual Report

  • Page 31
    ...hedging, divided by the total number of fuel gallons consumed. • Average stage length. The average number of miles flown per flight. • Load factor. The percentage of aircraft seating capacity actually utilized, calculated by dividing revenue passenger miles by available seat miles. • Operating...

  • Page 32
    ...the full year 2014, we estimate our operating capacity to increase approximately 5% to 7% over 2013 with the addition of nine Airbus A321 aircraft to our operating fleet. Assuming fuel prices of $3.06 per gallon, net of our fuel hedging activity, our cost per available seat mile for 2014 is expected...

  • Page 33
    ... international routes, including Puerto Rico, accounted for 28% of our passenger revenues in 2013. 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...

  • Page 34
    ... new pilot "flight time" and "duty time" limitations based upon report times, the number of scheduled flight segments, and other operational factors. We have hired additional pilots to address the requirements of the new rule. Income Taxes Our effective tax rate was 40% in 2013 and 39% in 2012...

  • Page 35
    ...) Average stage length (miles) Revenue passengers (thousands) Revenue passenger miles (millions) Available Seat Miles (ASMs) (millions) Load Factor Passenger revenue accounted for 91% of our total operating revenues in 2012 and was our primary source of revenue. Revenues generated from international...

  • Page 36
    ... 1.9% (1.6) 4.2 200.0 3.8 (in millions, per ASM data in cents) Total operating expenses Less: Aircraft fuel and related taxes Operating expenses, excluding fuel Less: Profit sharing OPERATING EXPENSE, EXCLUDING FUEL & PROFIT SHARING $ $ $ $ 30 JETBLUE AIRWAYS CORPORATION - 2013 Annual Report

  • Page 37
    ...) Available seat miles ASM (millions) Load factor Aircraft utilization (hours per day) Average fare Yield per passenger mile (cents) Passenger revenue per ASM (cents) Operating revenue per ASM (cents) Operating expense per ASM (cents) Operating expense per ASM, excluding fuel (cents) Operating...

  • Page 38
    ... scheduled for March 2014. • The Greater Orlando Aviation Authority, or GOAA, issued $42 million in special purpose airport facility revenue bonds to refund bonds issued to us in 2005, interest savings will be approximately $1 million per year. 32 JETBLUE AIRWAYS CORPORATION - 2013 Annual Report

  • Page 39
    ...for using cash from operations. The receipt of $46 million in proceeds from the sale of two EMBRAER 190 aircraft Investing Activities The capital expenditure for seven new EMBRAER 190 aircraft, three new Airbus A320 aircraft and four new Airbus A321 aircraft during 2013 JETBLUE AIRWAYS CORPORATION...

  • Page 40
    ... four out of the nine Airbus A321 aircraft scheduled for delivery in 2014. We plan to purchase the remaining 2014 scheduled deliveries with cash. To the extent we cannot pay in cash we may be required to secure financing or further modify our aircraft acquisition plans. Although we believe debt and...

  • Page 41
    ... flexibility in managing our cost of debt and capital requirements. In September 2013 as part of a private placement Enhanced Equipment Trust Certificate ("EETC") offering we priced $226 million in pass-through certificates to be secured by 14 of our unencumbered Airbus A320 aircraft. Funding for...

  • Page 42
    ... October 2013 and our firm aircraft order at December 31, 2013 is as follows: Airbus A320 - - 3 3 Airbus A320neo - - - - 5 - 9 16 - 30 Airbus A321 9 12 12 15 1 - - - - 49 Airbus A321neo - - - - 9 15 6 - - 30 EMBRAER 190 10 7 7 24 Year 2014 2015 2016 2017 2018 2019 2020 2021 2022 TOTAL Total 9 12...

  • Page 43
    ...cash flows, we have not identified any significant impairment related to our long-lived assets at this time. Passenger revenue Passenger ticket sales are initially deferred in air traffic liability. The air traffic liability also includes customer credits issued and unused tickets whose travel date...

  • Page 44
    ...to manage the risk of changing aircraft fuel prices. We do not purchase or hold any derivative instrument for trading purposes. At December 31, 2013, we had a net $6 million asset related to the net fair value of these derivative instruments; the majority of which are not traded on a public exchange...

  • Page 45
    ... at December 31, 2013 and 2012. Aircraft fuel Our results of operations are affected by changes in the price and availability of aircraft fuel. Market risk is estimated as a hypothetical 10% increase in the December 31, 2013 cost per gallon of fuel. Based on projected 2014 fuel consumption, such an...

  • Page 46
    ... Data JetBlue Airways Corporation Consolidated Balance Sheets (in millions, except share data) December 31, 2013 2012 ASSETS CURRENT ASSETS Cash and cash equivalents Investment securities Receivables, less allowance (2013-$6; 2012-$7) Inventories, less allowance (2013-$6; 2012-$5) Prepaid...

  • Page 47
    ...JetBlue Airways Corporation Consolidated Balance Sheets (in millions, except share data) December 31, 2013 2012 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable Air traffic liability Accrued salaries, wages and benefits Other accrued liabilities Current maturities of long...

  • Page 48
    ... 31, 2013 2012 $ 4,971 470 5,441 $ 4,550 432 4,982 $ 2011 4,080 424 4,504 OPERATING REVENUES Passenger Other Total operating revenues OPERATING EXPENSES Aircraft fuel and related taxes Salaries, wages and benefits Landing fees and other rents Depreciation and amortization Aircraft rent Sales and...

  • Page 49
    ..., 2012 and 2011, respectively) Total other comprehensive income (loss) COMPREHENSIVE INCOME Years Ended December 31, 2013 2012 $ 168 $ 128 8 8 176 7 7 $ 135 $ 2011 86 (5) (5) 81 $ $ See accompanying notes to consolidated financial statements. JETBLUE AIRWAYS CORPORATION - 2013 Annual Report...

  • Page 50
    ... investments Purchase of available-for-sale securities Sale of available-for-sale securities Other, net Net cash used in investing activities CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from: Issuance of common stock Issuance of long-term debt Short-term borrowings and lines of credit Construction...

  • Page 51
    ... stock purchase plan Shares returned pursuant to 2008 share lending Other Balance at December 31, 2011 Net income Changes in comprehensive income Vesting of restricted stock units Stock compensation expense Stock issued under Crewmember stock purchase plan Shares repurchased under 2012 share...

  • Page 52
    ... internet connectivity for commercial aircraft. NOTE 1 Summary of Significant Accounting Policies Accounts and Other Receivables Accounts and other receivables are carried at cost. They primarily consist of amounts due from credit card companies associated with sales of tickets for future travel...

  • Page 53
    ... related to computer software was $18 million, $13 million and $10 million for the years ended December 31, 2013, 2012 and 2011, respectively. Amortization expense related to computer software as of December 31, 2013 is expected to be approximately JETBLUE AIRWAYS CORPORATION - 2013 Annual Report...

  • Page 54
    ...compensation cost are required to be reported as a financing cash flow. We recorded an immaterial amount in excess tax benefits generated from option exercises in each of 2013, 2012 and 2011. Our policy is to issue new shares for purchases under all of our stock based plans. Income Taxes We account...

  • Page 55
    ...$1 million premium, as long term debt on our consolidated balance sheet. In December 2006, the New York City Industrial Development Agency issued special facility revenue bonds for JFK to us as a reimbursement to us for certain airport facility construction and other costs. We recorded the principal...

  • Page 56
    ... in connection with a fundamental change that occurs prior to October 15, 2014, the applicable conversion rate may be increased depending on our then current common stock price. The same applies to the Series B 6.75% Debentures prior to October 15, 2016. The maximum number of shares into which...

  • Page 57
    ... terminates in 2016. Borrowing under the Credit Facility bear interest at a variable rate equal to LIBOR, plus a margin. The Credit Facility is secured by Slots at JFK, Newark, LaGuardia and Reagan National airports as well as certain other assets. JETBLUE AIRWAYS CORPORATION - 2013 Annual Report...

  • Page 58
    ... converted from T5 as well as an international arrivals hall with full U.S. Customs and Border Protection services. The lease terms, as amended, for our terminal lease at JFK ends on the 28th anniversary of the date of beneficial occupancy of 52 JETBLUE AIRWAYS CORPORATION - 2013 Annual Report

  • Page 59
    ... 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 60
    ... Options All options issued under the 2002 Plan expire ten years from the date of grant, with the last options vesting in 2012. Our policy is to grant options with an exercise price equal to the market price of the underlying common stock on the date of grant. 54 JETBLUE AIRWAYS CORPORATION - 2013...

  • Page 61
    ... Weighted Average 2012 Shares 8,000,000 - (1,563,776) 6,436,224 Weighted Average Available for future purchases, beginning of year Shares reserved for issuance Common stock purchased AVAILABLE FOR FUTURE PURCHASES, END OF YEAR $ 6.20 $ 4.75 JETBLUE AIRWAYS CORPORATION - 2013 Annual Report 55

  • Page 62
    ...outstanding purchase rights will automatically be exercised immediately prior to the effective date of the acquisition at a price equal to 85% of the fair market value per share immediately prior to the acquisition. Our original CSPP was available to all employees at its inception in April 2002. The...

  • Page 63
    ...change in the amount of the unrecognized tax benefits within the next twelve months. As a result of NOLs and statute of limitations in our major tax jurisdictions, years 2002 through 2012 remain subject to examination by the relevant tax authorities. JETBLUE AIRWAYS CORPORATION - 2013 Annual Report...

  • Page 64
    ... nine new Airbus A321 in 2014, four of which have committed financing. We plan to purchase the remaining 2014 scheduled deliveries with cash. In December 2012, we prepaid $200 million for certain 2013 aircraft deliveries and deposits on future aircraft deliveries in exchange for favorable pricing...

  • Page 65
    ...that a 26.7% base pay rate increase provided to certain pilots during 2007 triggered the base salary provision of the Employment Agreement. The 2009 claims and all New York state labor law claims were dismissed. The parties started the damages phase of the arbitration in June of 2013. Many variables...

  • Page 66
    ... into interest rate swaps. We do not hold or issue any derivative financial instruments for trading purposes. First Quarter 2014 Second Quarter 2014 Third Quarter 2014 Fourth Quarter 2014 Total 16% 15% 2% 2% Aircraft fuel derivatives We attempt to obtain cash flow hedge accounting treatment for...

  • Page 67
    ... position. To manage credit risks, we select counterparties based on credit assessments, limit our overall exposure to any single counterparty and monitor the market position with each counterparty. Some of our agreements require cash deposits from either counterparty if market risk exposure...

  • Page 68
    ... as of December 31, 2013 and 2012. Level 1 Assets Cash and cash equivalents Restricted cash Available-for-sale investment securities Aircraft fuel derivatives Liabilities Interest rate swap $ $ 51 - - - 51 - - As of December 31, 2013 Level 2 Level 3 $ - - 188 6 194 3 3 Total 51 - 188 6 245...

  • Page 69
    ... the Segment Reporting topic of the Codification, disclosures are required for operating segments, which are regularly reviewed by the chief operating decision makers. Air transportation services accounted for substantially all the Company's operations in 2013, 2012 and 2011. Operating revenues are...

  • Page 70
    ... Registered Public Accounting Firm The Board of Directors and Stockholders of JetBlue Airways Corporation We have audited the accompanying consolidated balance sheets of JetBlue Airways Corporation as of December 31, 2013 and 2012, and the related consolidated statements of operations, comprehensive...

  • Page 71
    ... 31, 2013 and 2012, and the related consolidated statements of operations, comprehensive income, cash flows and stockholders' equity for each of the three years in the period ended December 31, 2013 of JetBlue Airways Corporation and our report dated February 18, 2014 expressed an unqualified...

  • Page 72
    ..., processed, summarized and reported within the time periods specified in the SEC's rules and forms and that such information required to be disclosed by us in reports that we file under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer, or CEO...

  • Page 73
    ... proxy statement for our 2014 Annual Meeting of Stockholders to be held on May 22, 2014 to be filed with the SEC pursuant to Regulation 14A within 120 days after the end of our 2013 fiscal year, or our Proxy Statement. ITEM 11. Executive Compensation The information required by this Item will...

  • Page 74
    ...- 94,424,966 Plan Category Equity compensation plans approved by security holders Equity compensation plans not approved by security holders TOTAL Number of securities to be issued upon exercise of outstanding options, warrants and rights 16,764,500 - 16,764,500 Weighted-average exercise price of...

  • Page 75
    ... - For the years ended December 31, 2013, 2012 and 2011 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 76
    ...) Vice President, Controller, and Chief Accounting Officer (Principal Accounting Officer) Director Director Director Director Director Director Director Director Director Director Director Frank Sica * /S/ THOMAS WINKELMANN Thomas Winkelmann * 70 JETBLUE AIRWAYS CORPORATION - 2013 Annual Report

  • Page 77
    ...Registration Rights Agreement, dated as of August 10, 2000, by and among JetBlue Airways Corporation and the Stockholders named therein-incorporated by reference to Exhibit 4.19 to our Registration Statement on Form S-3 ARS, filed on June 30, 2006 (File No. 333-135545). Summary of Rights to Purchase...

  • Page 78
    ..., 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. 72 JETBLUE AIRWAYS CORPORATION - 2013 Annual Report

  • Page 79
    ...27 to our Current Report on Form 8-K dated March 24, 2004. Note Purchase Agreement, dated as of March 24, 2004, among JetBlue Airways Corporation, Wilmington Trust Company, in its separate capacities as Pass Through Trustee, as Subordination Agent, as Escrow Agent and as Paying Agent-incorporated by...

  • Page 80
    ... to our Current Report on Form 8-K dated November 14, 2006. Schedule to the ISDA Master Agreement, dated as of November 14, 2006, between Morgan Stanley Capital Services Inc., as Above Cap Liquidity Provider, and Wilmington Trust Company, as Subordination Agent for the JetBlue Airways (Spare parts...

  • Page 81
    ... 9, 2009. Registration Rights Agreement, dated as of April 5, 2012, among JetBlue Airways Corporation, Deutsche Lufthansa AG and Lufthansa Malta Blues LP - incorporated by reference to Exhibit 4.22 to our Current Report on Form 8-K filed on April 5, 2012. JETBLUE AIRWAYS CORPORATION - 2013 Annual...

  • Page 82
    ...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. 76 JETBLUE AIRWAYS CORPORATION - 2013 Annual Report

  • Page 83
    ... to Exhibit 10.21( c) to our Annual Report on Form 10-K for the year ended December 31, 2006. Amendment No. 4 to Purchase Agreement DCT-025/2003, dated as of October 17, 2007, between Embraer-Empresa Brasileria de Aeronautica S.A. and JetBlue Airways Corporation-incorporated by reference to Exhibit...

  • Page 84
    ... 2013. Amended and Restated 2002 Stock Incentive Plan, dated November 7, 2007, and form of award agreement-incorporated by reference to Exhibit 10.21 to the Annual Report for Form 10-K for the year ended December 31, 2008. JetBlue Airways Corporation Executive Change in Control Severance Plan, dated...

  • Page 85
    ...Share Unit Award Agreement-incorporated by reference to Exhibit 10.1 to our Current Report on Form 8-K filed on April 12, 2013. JetBlue Airways Corporation 2011 Incentive Compensation Plan forms of amended award agreement. Airbus A320 Family Purchase Agreement, dated October 19, 2011, between Airbus...

  • Page 86
    ... Document XBRL Taxonomy Extension Presentation Linkbase Document * Compensatory plans in which the directors and executive officers of JetBlue participate. ** Pursuant to a Confidential Treatment Request under Rule 24b-2 filed with and approved by the SEC, portions of this exhibit have been omitted...

  • Page 87
    ... Statement Schedules Report of Independent Registered Public Accounting Firm The Board of Directors and Stockholders of JetBlue Airways Corporation We have audited the consolidated financial statements of JetBlue Airways Corporation as of December 31, 2013 and 2012, and for each of the three years...

  • Page 88
    ...Schedules JetBlue Airways Corporation Schedule II-Valuation and Qualifying Accounts (in thousands) Description Year Ended December 31, 2013 Allowances deducted from asset accounts: Allowance for doubtful accounts... Other Costs and Accounts Deductions ...JETBLUE AIRWAYS CORPORATION - 2013 Annual Report

  • Page 89
    ... statement schedule of JetBlue Airways Corporation listed in Item 15(2) included in this Annual Report (Form 10-K) of JetBlue Airways Corporation for the year ended December 31, 2013. /s/ Ernst & Young LLP New York, New York February 18, 2014 JETBLUE AIRWAYS CORPORATION - 2013 Annual Report 83

  • Page 90
    ... 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 18, 2014 84 JETBLUE AIRWAYS CORPORATION - 2013 Annual Report

  • Page 91
    ... 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 18, 2014 JETBLUE AIRWAYS CORPORATION - 2013 Annual Report 85

  • Page 92
    ... 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, 2013, as filed with the Securities and Exchange Commission on February 18, 2014 (the "Report"), the undersigned, in the capacities and on...

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    SAFETY • CARING • INTEGRITY • FUN • PASSION