JetBlue Orders 10 Airbus A320 Aircraft Valued In Excess Of $500 Million

JetBlue Airways, New York`s hometown, low-fare airline, has signed a contract with Airbus for the purchase of an additional 10 new A320 aircraft, powered by V2500 engines. The new aircraft order, valued by Airbus at more than half a billion dollars, brings JetBlue`s total firm order to 74 A320s making the airline one of Airbus`s top five customers worldwide for the aircraft type.

JetBlue`s fleet currently comprises 22 A320s. The airline plans to take delivery of 13 A320s in 2002, 14 in 2003, 13 and 2004, and 12 in 2005. With options for an additional 49 A320s, the airline has contracts for a fleet totaling as many as 132* A320 aircraft, with a combined value of $6.5 billion.


In conjunction with this order, JetBlue has selected IAE International Aero Engines AG for V2500s to power the 10 new aircraft. IAE has valued the order at $145 million. With the continued exercise of purchase options, JetBlue`s business with IAE could increase by as much as $700 million.


“Despite the airline industry`s current climate, JetBlue is moving forward with its original controlled growth business plan,” said David Neeleman, JetBlue`s Chief Executive Officer. “More than four million customers have come to love our brand-new A320s as a safe, reliable and comfortable way to travel for business and pleasure. We look forward to welcoming many more aboard our new fleet this year and in the years to come.”


“JetBlue continues to defy convention,” said No‘l Forgeard, CEO of Airbus. “It has found great and rapid success as a start-up by remaining cutting edge both in its aircraft selection and in its low-fare, high-service product. Airbus is very proud to be a part of the continuing JetBlue revolution. We are also, of course, very pleased that they have again selected the A320 to grow their fleet.”

ADVERTISEMENT


“It is very reassuring, at a time when the commercial airline industry is still recovering from unprecedented and significant challenges, to have such a strong statement of commitment by JetBlue to their customers and key business partners who have helped achieve the airline`s outstanding success to date,” said Michael P. Field, IAE Senior Vice President, Sales & Customer Support. “IAE is, in turn, committed to providing JetBlue with the best-in-class operational support for their large and growing fleet of V2500 engines”.


From its base at New York`s John F. Kennedy International Airport, JetBlue flies to: Fort Lauderdale, Tampa, Orlando, Fort Myers and West Palm Beach, FL; Buffalo, Rochester and Syracuse, NY; Long Beach, Ontario and Oakland, CA; Burlington, VT; New Orleans, LA; Denver, CO; Salt Lake City, UT; and Seattle, WA. The airline also serves Fort Lauderdale from Washington, DC.


With JetBlue, all seats are assigned, all travel is ticketless, all fares are one-way, and a Saturday night stay is never required. The airline is offering $5 each way off all fares booked through its web site, www.jetblue.com, through February 28. For more information, schedules and fares, please visit www.jetblue.com or call JetBlue reservations at 1-800-JETBLUE (538-2583).


*Includes eight aircraft which JetBlue received directly from operating lessors and one more to be delivered in 2003.


This press release contains statements of a forward-looking nature relating to future events or future financial results of JetBlue. Such statements are only predictions, and actual events or results may differ materially due to many factors, including our competitive environment, business and economic conditions in our markets, governmental regulation, increases in fuel prices and cyclical and seasonal fluctuations in our operating results.

——-