JetBlue files amendments for Q1 and Q2

Airline Industry Information, Oct 13, 2005

AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD

JetBlue Airways Corporation (NasdaqNM:JBLU) has filed amendments to its Q1 and Q2 2005 Form 10-Qs to restate its consolidated financial statements and other financial information contained in those reports.

The airline said it made the restatement with respect to, firstly, its accounting for rent expense under operating leases for certain airport properties containing provisions with minimum rent escalations; secondly for depreciation expense for leasehold improvements with respect to certain airport locations and other facilities; and thirdly for the inadvertent recognition of passenger revenue related to unpaid ticket reservations.

As a result, for the six months ended 30 June 2005 net income increased by USD0.3m and diluted earnings per share increased by USD0.01 to USD0.18.

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