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Business Description
JetBlue Airways Corporation is a low-fare, low-cost passenger airline that serves point-to-point routes between 22 destinations in 11 states and Puerto Rico. The Company focuses on serving underserved markets and/or large metropolitan areas that have high average fares. It has a geographically diversified flight schedule that includes both short-haul and long-haul routes. JetBlue commenced service in February 2000 and established its primary base of operations at New York's John F. Kennedy International Airport. On August 28, 2001, it began service at its West Coast base of operations, Los Angeles' Long Beach Municipal Airport. In early 2004, JetBlue launched service from Logan International Airport in Boston to five cities with a total of 11 daily departures. As of February 11, 2004, it operated 222 weekday flights, including 108 weekday flights between the Northeast and Florida, 66 weekday flights between the East Coast and western United States and 48 weekday short-haul flights.

Financial Information
For the nine months ended 9/30/04, revenues rose 27% to $931.9 million. Net income fell 47% to $45.1 million. Revenues reflect an increase in departures, passengers and load factor. Earnings were offset by an increase in salaries, wages and benefits and sales and marketing expenses.